Code EA to close orders at TP but only after 2 mins open | Forex Factory

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Code EA to close orders at TP but only after 2 mins open

  • #1
  • First Post: Edited 10:48am Jul 23, 2018 10:32am | Edited 10:48am
Hello All,

My broker has sent me a few emails asking me to ensure trades are open for longer than 2 minutes before closing them - easy for manual trading but I'm using an EA for 95% of trades.

Does anyone know how I can code MT4 so that orders close when reaching TP but only after order has been open for more than 2 minutes?

I am using OrderSend to open orders with calculated TP inserted into this function

void EnterBuy()
{
bool bResult;
double dTP = CalTP(OP_BUY);
int iMagic = JenkinsHash(Symbol(),Period());
bResult = OrderSend(Symbol(),OP_BUY,gdLotSize,Ask,100,0,dTP,"EA Buy",iMagic,0,Green);
}

I've looked online but can only see how to close after a certain duration, but not duration and TP together.

Thanks :-)
  • #2
  • Jul 23, 2018 10:55am Jul 23, 2018 10:55am
using virtual tp and sl and using a condition to check if 2 mins has been done?

Quote
I've looked online but can only see how to close after a certain duration, but not duration and TP together.
To my understanding once a tp order is sent on mt4 u cant mess with it checking back with other conditions as it is an order recorded on the server as well. (I could be wrong)
so closing after a certain duration is kinda the very simple approach in front of us! What i suggested early is how u do it once a tp/sl level is reached... which is almost the same result as a tp order or sl order.
@fauzaanu on Telegram
  • #3
  • Jul 23, 2018 11:25am Jul 23, 2018 11:25am
OK so (pls remember that Im a very novice coder) I should open the order with no TP set, and then check for 1) time open and 2) TP reached?

Seems straight forwards enough... just got to figure that out... Im guessing I need OrderSelect, OrderTakeProfit and OrderOpenTime...

OrderSelect (i,SELECT_BY_POS)
double OrderTakeProfit();
double OrderOpenTime();

Thanks Fauzaan
  • #4
  • Jul 23, 2018 3:17pm Jul 23, 2018 3:17pm
Quoting BKKnight
OK so (pls remember that Im a very novice coder) I should open the order with no TP set, and then check for 1) time open and 2) TP reached? Seems straight forwards enough... just got to figure that out... Im guessing I need OrderSelect, OrderTakeProfit and OrderOpenTime... OrderSelect (i,SELECT_BY_POS) double OrderTakeProfit(); double OrderOpenTime(); Thanks Fauzaan
I've been down this road, well over 10 years ago. You will not have the same profitability, and the dynamics of your system will change entirely. Switch to a broker that allows scalping.
  • #5
  • Jul 31, 2018 3:32am Jul 31, 2018 3:32am
Quoting Nicholishen
{quote} I've been down this road, well over 10 years ago. You will not have the same profitability, and the dynamics of your system will change entirely. Switch to a broker that allows scalping.
I saw some of your posts about the expert advisor that I can use to close partial profits and move my stop loss to breakeven. Do you have suggestions on some that is best? Many thanks
  • #6
  • Last Post: Jul 31, 2018 10:28am Jul 31, 2018 10:28am
Quoting gdebruin
{quote} I saw some of your posts about the expert advisor that I can use to close partial profits and move my stop loss to breakeven. Do you have suggestions on some that is best? Many thanks
If your broker is a hedging broker then you should try to use the close by hedge technique. How it works is instead of closing your position through the platform, you would place an offsetting hedge order to nullify your position and lock in your profits. You can sit on those as long as you like and then when your time has expired you can use CloseBy to reconcile the orders as one having been used to closed the other. When you use closeby you only pay one spread and one commission instead of two. This method should give you the exact same results and obfuscate your high frequency scalps.
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