Basic EA that buys and sells every candle | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

How to make EA that send Open Price of Candle for every new candle 5 replies

Does anyone has the basic ATR calculating only candle body? 0 replies

I need an EA that just buys and sells 1 reply

Making Money and the Most Basic of All Basic Strategies 42 replies

Volume specific to individual buys and sells 0 replies

Attachments: Basic EA that buys and sells every candle
Exit Attachments

Basic EA that buys and sells every candle

  • #1
  • First Post: Jan 12, 2024 8:06pm Jan 12, 2024 8:06pm
I'd be interested in a VERY BASIC EA if anyone can help.

It just:

  1. On every new candle that opens, the EA will open one BUY order and one SELL order.
  2. If the BUY order reaches a profit of at least $1, the EA will close the BUY order.
  3. If the SELL order reaches a profit of at least $1, the EA will close the SELL order.
  4. No stop losses are needed. Or maybe an input that 0 SL means no stop loss.

That is all. Maybe some basic inputs like lot size, $ profit target and TP/SL

Can anyone help with it?

To be honest I tried it on ChatGPT as well, it compiled a code with 0 errors and 0 warnings but it never closes any order for some reason.

Really thanks in advance anyone that can help

  • #2
  • Jan 12, 2024 9:07pm Jan 12, 2024 9:07pm
Quoting johnwester
I'd be interested in a VERY BASIC EA if anyone can help. It just: On every new candle that opens, the EA will open one BUY order and one SELL order. If the BUY order reaches a profit of at least $1, the EA will close the BUY order. If the SELL order reaches a profit of at least $1, the EA will close the SELL order. No stop losses are needed. Or maybe an input that 0 SL means no stop loss. That is all. Maybe some basic inputs like lot size, $ profit target and TP/SL Can anyone help with it? To be honest I tried it on ChatGPT as well, it compiled...

hi @johnwester

I took a look in my MT4 folders toolkit and found something which may fit your very basic EA.

Just ran a quick test on XAUUSD Daily candle,

Attached Image (click to enlarge)
Click to Enlarge Name: YourEA Daily XAU 2018 to 2023 29-7-2023 12-04-25 pm.png Size: 7 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3
  • Jan 12, 2024 11:40pm Jan 12, 2024 11:40pm
De que se trata. Una Nueva ea.
  • #4
  • Jan 13, 2024 4:01am Jan 13, 2024 4:01am
Quoting emmanuel7788
{quote} hi @johnwester I took a look in my MT4 folders toolkit and found something which may fit your very basic EA. Just ran a quick test on XAUUSD Daily candle, {image} ...
so what is it that you found? Because I see you posted a graph but nothing else.
  • #5
  • Edited 11:16am Jan 13, 2024 11:04am | Edited 11:16am
Not sure what your plan is with this strategy. You will need additional logic for the cases the price does not reach your profit target and you end up in deep drawdown. If you are "lucky" and chose a tiny profit target like $1 you can sometimes survive an entire month:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-01-13 at 17.56.41.png Size: 7 KB

Anyway, I have attached your MT5 expert advisor including source code so you can modify and extend it yourself:
Attached File(s)
File Type: mq5 yzJohnWester.mq5   2 KB | 1,081 downloads

Note that this is a very basic EA. No error recovery, no requotes handling, etc. etc.
  • #6
  • Jan 14, 2024 1:41pm Jan 14, 2024 1:41pm
Quoting johnwester
I'd be interested in a VERY BASIC EA if anyone can help. It just: On every new candle that opens, the EA will open one BUY order and one SELL order. If the BUY order reaches a profit of at least $1, the EA will close the BUY order. If the SELL order reaches a profit of at least $1, the EA will close the SELL order. No stop losses are needed. Or maybe an input that 0 SL means no stop loss. That is all. Maybe some basic inputs like lot size, $ profit target and TP/SL Can anyone help with it? To be honest I tried it on ChatGPT as well, it compiled...

I doubt if such a simple strategy may work in real world, anyway it is worth experimenting, a better idea in my opinion is to put two opposite pending stop orders with a predefined pip distance from every candles opening price, it each one was activated the other must be cancelled.
anyone can code an mt4 ea for this would be nice
  • #7
  • Jan 15, 2024 7:50am Jan 15, 2024 7:50am
Quoting yoriz
Not sure what your plan is with this strategy. You will need additional logic for the cases the price does not reach your profit target and you end up in deep drawdown. If you are "lucky" and chose a tiny profit target like $1 you can sometimes survive an entire month: {image} Anyway, I have attached your MT5 expert advisor including source code so you can modify and extend it yourself: {file} Note that this is a very basic EA. No error recovery, no requotes handling, etc. etc.
thank you for it. Is there by any chance that it can be modified for mt4? It is my fault for not saying it but I'm pretty much clueless on mt5 and can do much more things on mt4 for testing, optimization etc.
  • #8
  • Jan 15, 2024 11:46am Jan 15, 2024 11:46am
Quoting johnwester
Is there by any chance that it can be modified for mt4?
MT4? What year is this? ;-)

Quoting johnwester
I'm pretty much clueless on mt5 and can do much more things on mt4 for testing, optimization etc.
Especially for testing and optimization it is really worthwhile to learn how to use MT5! It uses all cores of your CPU (that can be 8x or 16x faster optimizations!!), it will automatically load tick data from your broker (no more hassle with tools like TickStory), simulates variable spread and slippage (each tick can have a different spread, it simulates delays in trade execution and calculates the corresponding slippage), it can backtest multi-symbol EAs (great for basket-trading or portfolio strategies), more detailed backtest reports (MFE, MAE, time-of-day, etc.), etc. etc.

I never trade manually, and for my automated strategies backtesting is vital. MT4 is inadequate for that. I stopped using it ages ago. Sorry, perhaps some other FF user can help you.
  • #9
  • Jan 15, 2024 2:43pm Jan 15, 2024 2:43pm
Quoting yoriz
{quote} MT4? What year is this? ;-) {quote} Especially for testing and optimization it is really worthwhile to learn how to use MT5! It uses all cores of your CPU (that can be 8x or 16x faster optimizations!!), it will automatically load tick data from your broker (no more hassle with tools like TickStory), simulates variable spread and slippage (each tick can have a different spread, it simulates delays in trade execution and calculates the corresponding slippage), it can backtest multi-symbol EAs (great for basket-trading or portfolio strategies),...
Yes, I'm familiar with the benefits of it. I had started some period to use it but was much accustomed to the mt4 and turned back to it for most of my EAs. I used MT5 for one that needed MTF and muti currency. I can't deny that it's better. It just suits me for small EAs MT4. Thanks for the mt5 version nonetheless.
  • #10
  • Edited Jan 17, 2024 2:38am Jan 16, 2024 5:48pm | Edited Jan 17, 2024 2:38am
Here you go buddy, the idea in MQ4
Attached File(s)
File Type: ex4 Basic EA.ex4   7 KB | 805 downloads
File Type: mq4 Basic EA.mq4   2 KB | 1,107 downloads
  • #11
  • Jan 21, 2024 4:20pm Jan 21, 2024 4:20pm
Quoting Zennie
Here you go buddy, the idea in MQ4 {file} {file}
Hi Zennie or anyone else,

I have simple request.

I want an indicator to draw a horizontal line on the highest point of EMA5 of the previous day.
  • #12
  • Feb 8, 2024 11:48am Feb 8, 2024 11:48am
Quoting Zennie
Here you go buddy, the idea in MQ4 {file} {file}
Hi, Would you be available to take on paid MT4 EA coding project?
  • #13
  • Jun 11, 2024 11:12am Jun 11, 2024 11:12am
Quoting yoriz
{quote} MT4? What year is this? ;-) {quote} Especially for testing and optimization it is really worthwhile to learn how to use MT5! It uses all cores of your CPU (that can be 8x or 16x faster optimizations!!), it will automatically load tick data from your broker (no more hassle with tools like TickStory), simulates variable spread and slippage (each tick can have a different spread, it simulates delays in trade execution and calculates the corresponding slippage), it can backtest multi-symbol EAs (great for basket-trading or portfolio strategies),...
Where do you find the Results tab similar to the one on MT4? It's the main reason I don't use MT5. I can't freaking find where that is even on online forums and searches.
  • #14
  • Jun 11, 2024 11:20am Jun 11, 2024 11:20am
Quoting johnwester
Where do you find the Results tab similar to the one on MT4? It's the main reason I don't use MT5. I can't freaking find where that is even on online forums and searches.
I can't remember what the Results tab looked like in MT4, but perhaps you mean the tab with all the statistics? That one is named "Backtest":
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB


It is not available until the backtest has completed.
  • #15
  • Dec 14, 2024 5:35am Dec 14, 2024 5:35am
Is it possible this EA to have option for Stop Loss?
  • #16
  • Dec 31, 2024 12:40pm Dec 31, 2024 12:40pm
Hey, i've just added something to it. Hope you like it
Attached File(s)
File Type: mq5 yzJohnWester2.mq5   5 KB | 544 downloads
  • #17
  • Jan 2, 2025 5:24am Jan 2, 2025 5:24am
Quoting yoriz
Not sure what your plan is with this strategy. You will need additional logic for the cases the price does not reach your profit target and you end up in deep drawdown. If you are "lucky" and chose a tiny profit target like $1 you can sometimes survive an entire month: {image} Anyway, I have attached your MT5 expert advisor including source code so you can modify and extend it yourself: {file} Note that this is a very basic EA. No error recovery, no requotes handling, etc. etc.
Sir.. Can u give ea open trade every one minute candle.. And if loss or profit close the position end of that one mint candle.. Again open new trade next candle.. If previous candle close green then next candle will be buy trade
  • #18
  • Last Post: Nov 27, 2025 11:50am Nov 27, 2025 11:50am
I have tried this EA on demo account, it runs fines , however if 1$ profit is set it is not booking at 1$ sleepage is more. could you modify EA to directly place exit limit order in system that will reduce sleepage and more accurate profit booking.
0 traders viewing now