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Buy and Sell script help

  • #1
  • First Post: Mar 14, 2010 9:15pm Mar 14, 2010 9:15pm
Hey
Long-time reader of threads in Forex Factory but I finally joined because I have a question on buying and selling scripts.

I've tested out many of the buying and selling scripts that are stickied but I have a special request for anyone that can help me.

I'm accustomed to a buying/selling script posted by goingforward.

The buy script looks like

Inserted Code
//+------------------------------------------------------------------+
//|                                              Buy  with SL and TP |
//|                               Copyright © 2008, smjones          |
//|                                               sjcoinc            |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, smjones"
#property link      "[email protected]"


#property show_inputs

extern double Lots = 1;
extern bool   UseMoneyMgmt = true;
extern double RiskPercent = 2;
extern bool   UseStop = true;
extern bool   UseTakeProfit = true;
extern double StopLoss = 60;
extern double TakeProfit = 40;
extern string Note="0 in Entry field means Market Order Buy";
extern double Entry = 0.0000;

string Input = " Buy Price ";



//+------------------------------------------------------------------+
//| script program start function                                    |
//+------------------------------------------------------------------+
int start()
  { 
  double Risk = RiskPercent / 100;
  if (UseMoneyMgmt)  
   Lots = NormalizeDouble( AccountBalance()*Risk/StopLoss/(MarketInfo(Symbol(), MODE_TICKVALUE)),2); 
  int Mode = OP_BUYSTOP;
  if (Ask > Entry && Entry > 0) Mode = OP_BUYLIMIT; 
  if (Entry == 0)  {Entry = Ask; Mode = OP_BUY;}
  double SLB = Entry - StopLoss*Point, TPB = Entry + TakeProfit*Point;
  if (UseStop == false) SLB = 0;
  if (UseTakeProfit == false) TPB = 0;
  if(Lots > 0)
   OrderSend(Symbol(),Mode, Lots, Entry, 2,SLB , TPB, "Buy Script", 0, NULL, LimeGreen);


           
   return(0);
  }
//+------------------------------------------------------------------+

The script is really brilliant.
But I'd like to see if I could get two modifications to it.

The Money Management feature:
When I set the risk percent to 2, it buys a lot equal to two percent of my balance.

Instead, I'd like for the risk percent to make the stop loss equal to 2 percent of my balance.

For example if my account balance was $5,000, my stop loss would equal $100. And have the percentage be changeable as the first code is.

Is that possible? xD
If it is, please let me know what should be changed or if you're feeling generous, change the code and post it here haha

Second whenever I use the script (hotkeyed or dragged), I get this little message:

http://img17.imageshack.us/img17/720...ithslandtp.jpg

I was wondering if the script could be modified in such a way that I wouldn't get that message when I executed the script and it just... y'know... executed itself without pressing OK haha.

Thanks to goingforward and anyone who'll reply to this thread in advanced.

Attached are the original scripts:
Attached File(s)
File Type: mq4 Buy with SL and TP.mq4   2 KB | 551 downloads
File Type: mq4 Sell with SL and TP.mq4   2 KB | 524 downloads
  • #2
  • Mar 14, 2010 9:34pm Mar 14, 2010 9:34pm
The easy part I will do.

Just comment out #property show_inputs by putting a // in front of it like this

//#property show_inputs

Now it will just execute and not ask for your input.

As for the other part of your question i do not understand.

The original script works as it should. Your Sl is set to 60 pips. It calculates 2% of 5000 as $100 and then buys the number of lots that will equate to a loss of $100 if the 60 pip Sl is hit.

So I am confused as to what you are trying to achieve.
  • #3
  • Mar 14, 2010 9:55pm Mar 14, 2010 9:55pm
Quoting flyer415
The easy part I will do.

Just comment out #property show_inputs by putting a // in front of it like this

//#property show_inputs

Now it will just execute and not ask for your input.

As for the other part of your question i do not understand.

The original script works as it should. Your Sl is set to 60 pips. It calculates 2% of 5000 as $100 and then buys the number of lots that will equate to a loss of $100 if the 60 pip Sl is hit.

So I am confused as to what you are trying to achieve.
Awesome that worked great.
Thanks a thousand

As for the other part, if I have a $5,000 account, I still want it to buy a standard lot and not a lot that equates to 2% of my account.

So if my account is $5,000 and it's set to buy 1 lot, then I want it to buy 1 lot regardless of what the Money Management is.

I keep getting 0.6 lots or so.

What I want the Risk Percentage to affect is my stop loss.
In the $5,000 account example if the setting was 2%, then the stop loss would be hit after a $100 loss or 10 pips and the lot would still be a standard lot (not a lot worth 2% of my account).

Is that possible?

Thank again for the help with my first problem.
I'm very grateful.
  • #4
  • Mar 14, 2010 10:31pm Mar 14, 2010 10:31pm
So you want to calculate a SL based on using 1 standard lot.

You do realize that this is backwards from the normal acceptable way of doing it.

You have to decide your SL location based on the pair, its history, S&R etc.

In this script the writer allows you to input your SL based on those criteria and then it calculates how many lots you can trade. To do it any other way will dramatically affect your win-loss ratio. meaning there is a high probability that your trade will lose.

BUT, if you want to do it then just change your SL size. In this case you said that a 60 pip SL gives you 0.6 lots therefore a 38 pip SL should give you about 1 standard lot.

So just change the SL number until you get your 1 standard lot or even easier just set UseMoneymanagement to false and then it will accept your input of 1
  • #5
  • Mar 14, 2010 10:40pm Mar 14, 2010 10:40pm
Quoting flyer415
So you want to calculate a SL based on using 1 standard lot.

You do realize that this is backwards from the normal acceptable way of doing it.

You have to decide your SL location based on the pair, its history, S&R etc.

In this script the writer allows you to input your SL based on those criteria and then it calculates how many lots you can trade....
Yeah that last bit there is what I've been doing.
It's pretty tedious.

And I'm fully aware of how it's traditionally done.
And of course it's coded in this way.

That's pretty much the reason I asked for this change.
Because it's not something traditional nor standard.

It's something I do not know how to do and it would be much appreciated if you or anyone who is willing to help could show me the coding required to perform such a task automatically.

If I wanted to do it traditionally, I wouldn't want the code to be any different than it already is.

I don't mean to come off as rude and if I do, I apologize.
But I do understand how things are done and I'm not exactly a newbie.
I just do not have the knowledge of MetaTrader coding and I apologize for this.

I simply wish to know if this is possible and if so, if anyone could provide the coding for it.

Assuming you are a good, altruistic person, I assume you were only keeping a fellow trader's best interests in mind and thank you but this is what I request.

Not demand. Not order. I humbly request this code to better serve me.
If you're one of those "What's in it for me" kind of guys then... I'm sorry. I have nothing to offer but my gratitude.

Thanks for looking out but if you do know how to write such a code, it would be much appreciated and I apologize if you take offense to anything I may have said.
  • #6
  • Edited 11:17pm Mar 14, 2010 10:58pm | Edited 11:17pm
Let me see if I understand you.

You want to always trade 1 Lot. You then want the SL to equal the RiskPercent........2% in your case.

Example.....account bal is $5,000...you are trading 1 Lot ($10/pip)

2% of $5,000 is $100. So....your stop loss would need to be 10 pips.

10 pips * 10$/pip = $100 which is 2% of 5,000.


I think the following code may work. It does assume 10$/pip which is the value of a pip if you have 1 standard lot. The 10$/pip is in USD.

StopLoss=NormalizeDouble(AccountBalance()*RiskPercent*0.001,1);

This will be dependent on your invested currency as well as the pair you are trading. I cannot do the advanced coding to adjust for this. However....if I know your invested currency and the pair you will be trading....I can do this.

For usd investment.....1 standard pip is 10 usd for eur/usd or gbp/usd

for usd investment....1 standard pip is about 9.40 usd for the usd/chf or eur/chf pair.

A more advanced programmer could do these conversions within the program better than I could.

Just let me know if you have the specifics and want me to help.
  • #7
  • Mar 14, 2010 11:06pm Mar 14, 2010 11:06pm
Quoting 60minman
Let me see if I understand you.

You want to always trade 1 Lot....
You got it right on the money

I'm trading EUR/USD

Thanks a thousand for understanding my problem and offering a solution.

Should I just slap that anywhere in the two codes I provided?

Thanks again, 60minman.
  • #8
  • Mar 14, 2010 11:37pm Mar 14, 2010 11:37pm
For starters....I'd replace the following code....

Lots = NormalizeDouble( AccountBalance()*Risk/StopLoss/(MarketInfo(Symbol(), MODE_TICKVALUE)),2);


Replace it with the code I replied with. Please try this on demo first though

so as to make sure its doing what you want it to do.

If it does not work....I'll tweak the code and try it on some demo as well.
  • #9
  • Mar 15, 2010 1:01am Mar 15, 2010 1:01am
No dice.
Thanks for trying, though.
I used your code and it didn't work. I tried figuring out writing MT4 codes and my novice knowledge tells me you're really close haha
Not that I really know.
I tried using the same little knowledge plus your code plus the original code to get some sort of hybrid and that also didn't work xD

Not on demo at least haha

I think you're onto something
  • #10
  • Mar 15, 2010 8:16am Mar 15, 2010 8:16am
Coming back to my earlier point..."even easier just set UseMoneymanagement to false and then it will accept your input of 1 "

The UsemoneyMgmt is a boolean so just set it to false. Then in the extern double Lots variable set it to 1 and it should be done.

It appears that the script only calculates the number of lots if you want it to otherwise, it just takes your number as set in the Lots external variable. No re-writing required.

As for your other comments...no issues at all.
  • #11
  • Mar 15, 2010 9:17am Mar 15, 2010 9:17am
Quoting flyer415
Coming back to my earlier point..."even easier just set UseMoneymanagement to false and then it will accept your input of 1 "

The UsemoneyMgmt is a boolean so just set it to false. Then in the extern double Lots variable set it to 1 and it should be done.

It appears that the script only calculates the number of lots if you want it to otherwise, it just takes your number as set in the Lots external variable. No re-writing required.

As for your other comments...no issues at all.
I understand that much.
That's how I've been doing it so far because that's what the script is designed to do and that's not what I want it to do so I've always had it set to false.

I've had to set to false because when it is, my lots are 1 and that's what I want.

Problem is, I want UseMoneyManagement to affect my StopLoss somehow and not my lot size.

I hope that clears that up a little bit.
  • #12
  • Mar 15, 2010 10:19pm Mar 15, 2010 10:19pm
Inserted Code
double AccountPercentStopPips(string symbol, double percent, double lots)
{
    double balance      = AccountBalance();
    double moneyrisk    = balance * percent / 100;
    double spread       = MarketInfo(symbol, MODE_SPREAD);
    double point        = MarketInfo(symbol, MODE_POINT);
    double ticksize     = MarketInfo(symbol, MODE_TICKSIZE);
    double tickvalue    = MarketInfo(symbol, MODE_TICKVALUE);
    double tickvaluefix = tickvalue * point / ticksize; // A fix for an extremely rare occasion when a change in ticksize leads to a change in tickvalue
    
    double stoploss = moneyrisk / (lots * tickvaluefix ) - spread;
    
    if (stoploss < MarketInfo(symbol, MODE_STOPLEVEL))
        stoploss = MarketInfo(symbol, MODE_STOPLEVEL); // This may rise the risk over the requested
        
    stoploss = NormalizeDouble(stoploss, 0);
    
    return (stoploss);
}
I found a code like this that defines the pips of a stop loss based off your current account balance.

I'm not sure how to incorporate it into the original codes I posted but I hope maybe it'll point some of the better coders around here in the right direction.
  • #13
  • Edited 4:55pm Mar 16, 2010 4:45pm | Edited 4:55pm
I was able to get this thing working.

The code that you added on your last post was the missing line.

The code I gave you did not round the stoploss to the nearest whole number.

But....by adding your code to the next line following mine....it worked like a charm on my active trades demo.

Here is the code you need.....

StopLoss=NormalizeDouble(AccountBalance()*RiskPercent*0.001,1);

StopLoss = NormalizeDouble(StopLoss, 0);

This should do it as StopLoss will now be a whole number.

Note: The space in AccountBalance should not be there but i cannot seem to get rid of it.
  • #14
  • Mar 16, 2010 7:49pm Mar 16, 2010 7:49pm
Inserted Code
//+------------------------------------------------------------------+
//|                                              Buy  with SL and TP |
//|                               Copyright © 2008, smjones          |
//|                                               sjcoinc            |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, smjones"
#property link      "[email protected]"


//#property show_inputs

extern double Lots = 1;
extern bool   UseMoneyMgmt = true;
extern double RiskPercent = 2;
extern bool   UseStop = false;
extern bool   UseTakeProfit = false;
extern double StopLoss = 60;
extern double TakeProfit = 0;
extern string Note="0 in Entry field means Market Order Buy";
extern double Entry = 0.0000;

string Input = " Buy Price ";



//+------------------------------------------------------------------+
//| script program start function                                    |
//+------------------------------------------------------------------+
int start()
  { 
  double Risk = RiskPercent / 100;
  if (UseMoneyMgmt)  
   StopLoss = NormalizeDouble(AccountBalance()*RiskPercent*0.001,1);
   StopLoss = NormalizeDouble(StopLoss, 0); 
  int Mode = OP_BUYSTOP;
  if (Ask > Entry && Entry > 0) Mode = OP_BUYLIMIT; 
  if (Entry == 0)  {Entry = Ask; Mode = OP_BUY;}
  double SLB = Entry - StopLoss*Point, TPB = Entry + TakeProfit*Point;
  if (UseStop == false) SLB = 0;
  if (UseTakeProfit == false) TPB = 0;
  if(Lots > 0)
   OrderSend(Symbol(),Mode, Lots, Entry, 2,SLB , TPB, "Buy Script", 0, NULL, CLR_NONE);


           
   return(0);
  }
//+------------------------------------------------------------------+

I inserted your code but I don't think I did it correctly.
Setting UseStop to true makes the script not even run when dragged onto the chart and setting it to false makes me still have no stoploss at all.

Mind sharing the code that's currently working for you?

I appreciate all the help haha
  • #15
  • Mar 16, 2010 10:45pm Mar 16, 2010 10:45pm
The system worked for me but it was with a different ea than the one you have. It therefore...should work with your program.

I will go ahead and try to get your exact ea working. Will it immediately place a buy order? How long will I have to wait to see if it works?

In the meantime....I would try commenting out(//) all the booleans in your program. Then try running it again.
  • #16
  • Mar 16, 2010 10:52pm Mar 16, 2010 10:52pm
Another thing that may be the problem is this.....

try separating the SLB and TPB lines. Like this....

Double SLB = Entry - StopLoss*point;
Double TPB = Entry + TakeProfit*point;


I am not a solid programmer...obviously. But maybe there is a syntax problem.

Does it compile ok?
  • #17
  • Mar 16, 2010 11:02pm Mar 16, 2010 11:02pm
It compiles with no errors.
And it's not really an EA. It's just two hotkeyed scripts.

Is your's part of an EA?
Could you just like cut out the parts that has the buy and sell scripts?

I'll try your suggestions and let you know how it works. Thanks a bunch
  • #18
  • Mar 16, 2010 11:24pm Mar 16, 2010 11:24pm
Quoting 60minman
The system worked for me but it was with a different ea than the one you have. It therefore...should work with your program.

I will go ahead and try to get your exact ea working. Will it immediately place a buy order? How long will I have to wait to see if it works?

In the meantime....I would try commenting out(//) all the booleans in your program. Then try running it again.
The script when executed normally will instantly throw down an order and without any modifications to the original code, it'll instantly put TP and SL and change lot sizes based on MM (that last one I do not want it to do and need edited)

All commented bools made me get compile errors.

And separating the TPB and SLB did not change anything.
  • #19
  • Mar 16, 2010 11:28pm Mar 16, 2010 11:28pm

Good news! Your script is working just fine. Adjust the RiskPercent to 10 and try again. I had my RiskPercent set to 2 and it wont allow the stoploss to be that low since my account bal was only $2800. It does work though!

After setting it to 10%...It gave me a stoploss of 28 pips.....tp was 0.

$2800 in account......28 pips *10$/pip = $280......or 10% of account

  • #20
  • Mar 16, 2010 11:34pm Mar 16, 2010 11:34pm
It won't let you have a 5.6 pip stoploss?
I mean I know 5 or 6 pips is a little tight but still...
Anyways!

I tried that to no avail =/

Here's what I tried:

Inserted Code
//+------------------------------------------------------------------+
//|                                              Buy  with SL and TP |
//|                               Copyright © 2008, smjones          |
//|                                               sjcoinc            |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, smjones"
#property link      "[email protected]"


//#property show_inputs

extern double Lots = 1;
extern bool   UseMoneyMgmt = true;
extern double RiskPercent = 10;
extern bool   UseStop = true;
extern bool   UseTakeProfit = false;
extern double StopLoss = 60;
extern double TakeProfit = 0;
extern string Note="0 in Entry field means Market Order Buy";
extern double Entry = 0.0000;

string Input = " Buy Price ";



//+------------------------------------------------------------------+
//| script program start function                                    |
//+------------------------------------------------------------------+
int start()
  { 
  double Risk = RiskPercent / 100;
  if (UseMoneyMgmt)  
   StopLoss = NormalizeDouble(AccountBalance()*RiskPercent*0.001,1);
   StopLoss = NormalizeDouble(StopLoss, 0); 
  int Mode = OP_BUYSTOP;
  if (Ask > Entry && Entry > 0) Mode = OP_BUYLIMIT; 
  if (Entry == 0)  {Entry = Ask; Mode = OP_BUY;}
  double SLB = Entry - StopLoss*Point;
  double TPB = Entry + TakeProfit*Point;
  if (UseStop == false) SLB = 0;
  if (UseTakeProfit == false) TPB = 0;
  if(Lots > 0)
   OrderSend(Symbol(),Mode, Lots, Entry, 2,SLB , TPB, "Buy Script", 0, NULL, CLR_NONE);


           
   return(0);
  }
//+------------------------------------------------------------------+

Mind showing me the script you used that worked out so nicely?
Because it's no dice on this one xD
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