Mono, Xerof, Jumper, thank you!
- #1,083
- Sep 22, 2006 2:45am Sep 22, 2006 2:45am
- | Joined Apr 2006 | Status: King of Fools | 153 Posts
A little contribution to this active thread, this great technique and the forexfactory community.
The following MT4-expert does help us to follow through the rules mentioned in Post 865.
Please copy it into your expert/ folder and attach it to the charts, where you want it to do its work.
How does it work?
You only need to do your buy/sell either with immediate setting of the target (TakeProfit) or with that setting in a separate step. The target is important, without it the expert will do nothing!
As soon as this experts finds a manually set order in the current account which has a TakeProfit, it does the following:
- It checks if an StopLoss is already set. If not, it does set a StopLoss according to the difference between the Opening Price and the Target under Application of the 90pip/50%/33% rule. (You can change this StopLoss or initially put another StopLoss. It will be left unchanged until the Order is 40 pips in Profit.)
- If the expert sees that an SL is set it will do nothing until the Trade is 40 Pips in the positive at which time it will set the Order to B/E+10 Pips.
This way we only need to worry about identifying breakouts and their respective targets and the rest is done automatically.
In case you have other Trades in that account, which you do not want to be treated by the MoutekiStop:
In the global parameters of this expert is one, which is called EAComment. Normally it is empty (""). If you set it to something (AND ONLY THEN!!!), the experts only treats these Orders which have EXACTLY this comment. So set it to for example "Mouteki" and it will only treat orders with the comment "Mouteki". It will then not treat order with "Bagovino", "", "MOUTEKI", "Muteki", or "Mouteki 22.09.06", etc. you get the point
.
Disclaimer: I tested this expert on my demo account and it seems to work, but until further testing I do not counsel you on using it on real money. In any case I deny in advance any responsibilities about the activities or inactivities of this expert.
The following MT4-expert does help us to follow through the rules mentioned in Post 865.
Please copy it into your expert/ folder and attach it to the charts, where you want it to do its work.
How does it work?
You only need to do your buy/sell either with immediate setting of the target (TakeProfit) or with that setting in a separate step. The target is important, without it the expert will do nothing!
As soon as this experts finds a manually set order in the current account which has a TakeProfit, it does the following:
- It checks if an StopLoss is already set. If not, it does set a StopLoss according to the difference between the Opening Price and the Target under Application of the 90pip/50%/33% rule. (You can change this StopLoss or initially put another StopLoss. It will be left unchanged until the Order is 40 pips in Profit.)
- If the expert sees that an SL is set it will do nothing until the Trade is 40 Pips in the positive at which time it will set the Order to B/E+10 Pips.
This way we only need to worry about identifying breakouts and their respective targets and the rest is done automatically.
In case you have other Trades in that account, which you do not want to be treated by the MoutekiStop:
In the global parameters of this expert is one, which is called EAComment. Normally it is empty (""). If you set it to something (AND ONLY THEN!!!), the experts only treats these Orders which have EXACTLY this comment. So set it to for example "Mouteki" and it will only treat orders with the comment "Mouteki". It will then not treat order with "Bagovino", "", "MOUTEKI", "Muteki", or "Mouteki 22.09.06", etc. you get the point
.Disclaimer: I tested this expert on my demo account and it seems to work, but until further testing I do not counsel you on using it on real money. In any case I deny in advance any responsibilities about the activities or inactivities of this expert.
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