Multi-purpose trade management EA
Fxpro uses 6 digits for the major pairs. But there are others.
- Open the .mq4 of the expert advisor that you want to change in MQL Editor.
- Add a new global variable declaration (it should be in the beginning of the code, along with the other variable declarations):
double Poin; - Add the following code to the init() function of the EA. This function is usually present in all EAs (it contains various initialization routines), but if it’s not there, create it and include this code:
//Checking for unconventional Point digits number
if (Point == 0.00001) Poin = 0.0001; //6 digits
else if (Point == 0.001) Poin = 0.01; //3 digits (for Yen based pairs)
else Poin = Point; //Normal - Replace all further occurrences of "Point" in the code with "Poin" (except those in the init() function). This will change the system MT4 variable "Point" to our declared variable "Poin", which now contains the standard 5 digit pip value.
- That’s all. Compile it and you are ready to run it on the 6 digit quotes in MetaTrader. Of course, it will still work with standard 5 digit quotes too.
Best of luck -
Wow thanks Macman. I'd love to understand all these codes, but it's like reading chinese to me! If ever you've got some time (I don't want to bother you) to change the code for all the Nanningbob 4H trading system user, here are the 2 EAs Bob published.
Thanks a lot.
Also they are NOT set for 5 digit brokers unless you want a BE of 2 pips with a jumping stop of 3 pips?
IMHO it is essential to read and understand the MPTM user guide (attached) as it looks like your problem is simply not using the correct settings. If you still have problems the fix for 6 digits can be added but it looks like it is not necessary.
Best of luck ...
- #485
- Apr 30, 2010 12:03am Apr 30, 2010 12:03am
Steve,
As a junior member I cant post in you swing forum so I will post here. I know c++ so mql was easy to pick up in the past week.
I had a chance to look at and test the SMT. The closure code you have in there are causing whipsaws before you can get out of the spread (most of the time) Also I think you are sending trades in the opposite direction from the guy who created the fractal. So I ran a test using 15m/1h by running unchanged SMT with default settings as well a removing the closure code then a third without closure code and switching buy/sell signals. I used MPTM for my sl, and tp.
The three EAs were run simultaneously on a demo and added signals at the same time. So far results seem mostly consistent. SMT gets stopped out in the red (sometimes in groups at the same time) most of the time with a few working out well. Switching the buy/sell signal showed to be a better bet in about 8 out of 10 positions.
Feel free to test it. I like auto swing trading and your EAs so I hope it helps.
As a junior member I cant post in you swing forum so I will post here. I know c++ so mql was easy to pick up in the past week.
I had a chance to look at and test the SMT. The closure code you have in there are causing whipsaws before you can get out of the spread (most of the time) Also I think you are sending trades in the opposite direction from the guy who created the fractal. So I ran a test using 15m/1h by running unchanged SMT with default settings as well a removing the closure code then a third without closure code and switching buy/sell signals. I used MPTM for my sl, and tp.
The three EAs were run simultaneously on a demo and added signals at the same time. So far results seem mostly consistent. SMT gets stopped out in the red (sometimes in groups at the same time) most of the time with a few working out well. Switching the buy/sell signal showed to be a better bet in about 8 out of 10 positions.
Feel free to test it. I like auto swing trading and your EAs so I hope it helps.
These two files are identical (Steve's MPTM) except one is set to manage all trades and the other is set to manage just the trades of the pair you have the MPTM running on.
Also they are NOT set for 5 digit brokers unless you want a BE of 2 pips with a jumping stop of 3 pips?
IMHO it is essential to read and understand the MPTM user guide (attached) as it looks like your problem is simply not using the correct settings. If you still have problems the fix for 6 digits can be added but it looks like it is not necessary.
Best of luck ...
I am currently using MPTM on all my trades but it comes to the majors pairs which are quoted with 6 digits like EUR/USD (1.33xxx), MPTM sends loads of alerts because it doesn't understand "BE of 2 pips with a jumping stop of 3 pips". I would need it to recognise the 6 digits and adapt the setting of TP and BE.
Would you be so kind to modify the code in order for me (and other 6 digits traders) to use this fantastic EA with all my currencies?
Thanks a lot Macman!
- #487
- May 2, 2010 4:18pm May 2, 2010 4:18pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve,
As a junior member I cant post in you swing forum so I will post here. I know c++ so mql was easy to pick up in the past week.
I had a chance to look at and test the SMT. The closure code you have in there are causing whipsaws before you can get out of the spread (most of the time) Also I think you are sending trades in the opposite direction from the guy who created the fractal. So I ran a test using 15m/1h by running unchanged SMT with default settings as well a removing the closure code then a third without closure code and switching...
I appreciate your post and you can now post in any of my restricted posts. I look forward to the contribution of anyone who actually understands coding - I sure as hell don't. Blundering around in the dark is how I spend most of my time.
Cheers
- #488
- May 2, 2010 4:25pm May 2, 2010 4:25pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Hi Macman,
I am currently using MPTM on all my trades but it comes to the majors pairs which are quoted with 6 digits like EUR/USD (1.33xxx), MPTM sends loads of alerts because it doesn't understand "BE of 2 pips with a jumping stop of 3 pips". I would need it to recognise the 6 digits and adapt the setting of TP and BE.
Would you be so kind to modify the code in order for me (and other 6 digits traders) to use this fantastic EA with all my currencies?
Thanks a lot Macman!
Why the blue blazes would anyone put up with 6 digit quotes? Sounds like utter lunacy to me. Surely you go cross-eyed merely trying to watch price action.
Why stop at 6? Why not 7? 8? 15? 255?
There is only one reason the crims carry on increasing their digit sizes - every one adds to their advantage.
I will not play this game and so will not add to the already high complexity of this mptm. Others are welcome to do so, but I advise against it.
Hi Macman,
I am currently using MPTM on all my trades but it comes to the majors pairs which are quoted with 6 digits like EUR/USD (1.33xxx), MPTM sends loads of alerts because it doesn't understand "BE of 2 pips with a jumping stop of 3 pips". I would need it to recognise the 6 digits and adapt the setting of TP and BE.
Would you be so kind to modify the code in order for me (and other 6 digits traders) to use this fantastic EA with all my currencies?
Thanks a lot Macman!
Don't give it a second thought
FXPro is a 5 digit broker (no different to Alpari UK) - this from their web site:
Prices
We quote the major currency pairs with a fifth digit, allowing clients to profit from smaller price movements. We monitor the prices we provide, compare them with the rest of the market participants and ensure that they are always competitive.
Have a great week -
- #490
- May 2, 2010 5:30pm May 2, 2010 5:30pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve,
Don't give it a second thought
FXPro is a 5 digit broker (no different to Alpari UK) - this from their web site:
Prices
We quote the major currency pairs with a fifth digit, allowing clients to profit from smaller price movements. We monitor the prices we provide, compare them with the rest of the market participants and ensure that they are always competitive.
Have a great week -
Steve,
Don't give it a second thought
FXPro is a 5 digit broker (no different to Alpari UK) - this from their web site:
Prices
We quote the major currency pairs with a fifth digit, allowing clients to profit from smaller price movements. We monitor the prices we provide, compare them with the rest of the market participants and ensure that they are always competitive.
Have a great week -
Hello,
FxPro offers 6 digits on some majors pairs.
This is from their website, on the pip calculator page:
"For all currency pairs quoted with 6 digits, eg, EUR/USD 1.36970 the Pip will be the 5th digit quoted, in this case 7"
Fxpro has been my broker for 6 months now and I trade every single day with 24 pairs, so I know what I'm saying. I hate to contradict you but fxpro IS a 6 DIGIT broker (but not on all pairs). That's why, when I add a "0" in the code it works. But then it doesn't work on 4 and 5 digits. If the original can detect 4, 5 digits and JPY pairs, I'm sure it can detect 6 digit pairs an manage accordingly, but unfortunatly, I don't know anything about coding
. Could someone please help us out? That would be great because this ea IS GREAT!
Thanks again, and happy trades to everyone!
"For all currency pairs quoted with 6 digits, eg, EUR/USD 1.36970 the Pip will be the 5th digit quoted, in this case 7"
A so called 5 digit broker quotes 5 digits after the decimal point & 3 digits after the decimal point on JPY pairs.
You do not need any changes to the mptm code - you do however need to understand that using a 5 digit broker means adding a zero to inputs referring to prices.
A "5 digit" broker actually quotes using 6 digits and 5 decimals...
Let's say I want to use MPTM with a pair that quotes with 6 digits but with 5 decimals (eg eurusd 1.28642), and I want a TP at 20 pips, I should enter 200 in the code. ok.
But does this mean if I use this same code on a pair with 5 digits but 4 decimal like eurcad 1.3252, it will take profit at 200 pips? Or does it automatically divide TP by 10 so that it really takes profit at 20?
What should I do?
Thanks again for your help and sorry about all my questions...
But does this mean
- #497
- May 6, 2010 4:21am May 6, 2010 4:21am
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
- #498
- May 6, 2010 5:55am May 6, 2010 5:55am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Mine still keeps staring at my trades, doing nothing (even though I have set it to "manage all" and trailing stop, tried many values, doesn't seem to make a difference).
Meanwhile it's still spamming my experts tab with:
"Multi Purpose Trade Manager, GBPUSD,H1: Unknown mode 4 for MarketInfo"
Suggestions anyone?
Close the chart, shut down the platform, reload and start again.
Oh, and never change chart time frames whilst an ea is running - plays hell with the MarketInfo function.
- #499
- May 10, 2010 4:38pm May 10, 2010 4:38pm
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
- #500
- May 10, 2010 5:49pm May 10, 2010 5:49pm
- | Joined May 2009 | Status: Sucessful Praying FxTrader2Investor | 343 Posts
Having a little issue here
I'm using the basket settings and would like to set a SL and then trail it by that number continuosly.
i can set a Dollar SL, works fine and i can set a jumping stop, i can also use a % trail after xxx, but i can't see were to set a trailing doller Sl of xxx and leave it at that
any ideas
feature not seen yet. We have to wait until it becomes a popular request, or something needed by our coding members. But I know what you mean... 50% when at $100 is not the same as when at $500 or id 5% when at $500 the same as 5% at 100.00.
Whereas, there is much to be said for allowing the maket room to breathe, giving back a significant portion of hard won equity is another mater. Only way arround it is to maintain the settings, adjusting to the constant/desired value via the matching percentage.
If there was a constant settings on offer, there coud be a more hands free effect.
Another point of interest... Now that we can manage more effectively via selected pairs (an excellent addition I might add), the initial condition for Manage by trade Comment, is it a left over from previous developments or is it still required now?
If you are taking whatever pair there is or you selected, why ask to check for comment, magic number or trade number? Just a thought.
The fact that it is not optional, in that, where as one can choose not to manage by pair, one has no choice in that for the basket option to be activated, it has to be so, via one of those three. Had I the capability I would replace that with a simple manage basket or not, now that Sir Cacus has assitted with the pairs feature.
Perhaps, he could do an incorporation between the basket (true/False) & the manage by pair, while removing the management by magic no/trade comment/order number requirement.
Sir hopwood, thanks a tonne for the innovaions. The MPTM EA has certainly done wonders for the simultaneous trading of groups AKA Basket Trading. Thank you kind Sir, along with all the numerous innovators along the route. The two concerns mentioned here, fixed trailing stop and removing the necessity to choose one of three to manage a basket, when incorporated will definately put us firmly in the driving seat (provided we know hoe to drive/trade
)Bless
