open/close script based on atr

Hi guys...(I know there are girls also out there, but let's just use generic terms to simplify typing... )

I was wondering if any kind hearted souls out there who can code a simple open order script based on ATR?

For instance, my system uses atr as stop loss...i always use atr 20...so my s/l would be (atr*3) + (spread+1)...and my tp would be atr*4 or *5...

but i found it hard to calculate and put orders if i use m5 chart...

That's the main idea...but...

If anyone can also include MM in it, for instance the s/l must not be more than 5% or 10% of equity...that would be great... let say I set the script for 5% risk...if the sl is more than that, the script will give warning 1st...

I know there is a thread regarding open/close orders, but the TS didn't allow for a request, so I hope this thread can be a starter for open/close order request...

If anyone can do this, you will really make my day, and I pray that you will be cherished with green pips in all your trading career...thanx...

Here you go.....

Set tradesize to zero to let the MM calculate lotsize.

Set stoploss or takeprofit to any negative number if you want no stoploss or takeprofit.

If you have no stoploss, you must enter a manual tradesize.

Provides some on screen feedback of trade execution. Keeps a record of slippage on each trade and writes to a file in the /experts/files folder.

Have fun and report any bugs here.

Uses an ATR 20 period, just manually change it in the code if you want some other period.

PS I left out the spread in the SL as I don't hink it is usefull. The spread on entry is an arbitary number and has no relevance to what it may be when you exit the trade. Just increase the ATR factor if you want a bigger stoploss. There is a spread limiter for entry though.

thanx so much kenny... you really made my day... (not the dirty harry
'make my day' style ya )...

I will try this now...hopefully everything goes smoothly...

p/s: if u ever come to Malaysia, do contact me ya...

You are welcome.

Are you in KL?

i'm in klang...it's around 40km from kl...have u been to kl before?

i've tried the script and it worked flawlessly except for one:

2010.05.12 03:38:14 Manual_Trade_Long_ATR EURUSD,M1: Alert: Stoploss/Takeprofit OrderModify failed with error no error

it gave this when the market moves a bit after the trade was put...how can we overcome this ya?

Anyway, i did a trade on demo and the trade had another 5 pips to go but it went south to my sl...30 pips down the drain...that got me into an idea...

if you don't mind, can you add a trailing stop just using atr as well? if i use tp at *4 atr...I can set the trailing will start at *2.5 atr for instance...
that is if you are ok with it...you have done much as it is...and I thank you again for that...
(edited: a friend told me that this cannot be done on script, so it's ok then... )


p/s: if you had been to kl before, do you plan to come again? do let me know...

Hi gilos,

Nah, never been to KL before, but I travel quite a lot so its possble I may end up in KL for a day or two sometime in the future.

Sure, I can add the ATR trail........just give me a couple of days and I 'll post it here.

sorry for late reply..was watching 'fight night'...

nice to hear that you travel a lot...a thing that I would like to do in future hopefully...

when you do come to Malaysia, don't forget to pm me ya...

Anyway, I can't thank you enough for doing this indi...May you have great day tomorrow...(it's 0343 here in Malaysia)

p/s: I'll pm you my email, so you can email me too when you travel here...

hello Kenny,

Your script is great! I have been using it since you made it...after using it, i've made an improvement to my trading system...

My system relies on MTF ATR, and here comes a problem for me...

The script that u made, is not MTF, can you add that function to it?

It's a hard thing to do for me as I don't know any coding, but I know it's just a walk in the park for you...

So I hope that you can make this request materialize.

probably kenny hasnt read my request, so can any kind hearted person out there help with my plight? I just need the script to be mtf...

thank you in advance for those who can help me...

seems that nobody wants to help me with this mod...ce'st la vie...

p/s: but still optimistic that someone will help...