(MT4) Partial Close in an EA | Forex Factory

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(MT4) Partial Close in an EA

  • #1
  • First Post: Mar 17, 2011 3:27pm Mar 17, 2011 3:27pm
Hi all,

I've been trying to teach myself mql4 and to that end I have made a custom indicator.

I'm now trying to make that into an EA but I am struggling with the syntax.

I currently have:

Inserted Code
      if(OrdersTotal() == 0)
      {       
        if(Ask==HighLineValue && cci>=90)
               {
                     OrderSend(Symbol(), OP_BUY, lots, Ask, slippage, LowLineValue, HalfHigh, 0);
               }

        if(Bid==LowLineValue && cci<=-90)
               {
                     OrderSend(Symbol(), OP_SELL, lots, Bid, slippage, HighLineValue, HalfLow, 0);
               }

      }
What I would like to do is close 70% of the lots and move the SL to breakeven when another set of criteria are met, and then close the final 30% at a final set of criteria.

I have variables 'lots70' and 'lots30' which already calculate those appropriate number of lots but I don't know how to reliably achieve this partial close. I'm imagining that I need to create some sort of flag to indicate that a trade is live in a particular direction and then create another 'if' statement for the partial close. However, I'm really not sure of the syntax for this.

The other problem I have is that the variables change as time progresses but I would like to use the values of the variables at the time of order. Are buffers the only way to achieve this?

Many thanks in advance for any help that may be offered.

(my apologies for how rudimentary this is, but I am still very much learning!)
  • #2
  • Mar 17, 2011 5:30pm Mar 17, 2011 5:30pm
From the code you have posted, you have a long way to go. Let me give you a few pointers.

1. Never do an equality comparison between price and another variable such as you have done (Ask==HighLineValue). This will work - most of the time, but what about the situation when numbers have unrounded digits in the nth decimal place? This happens with most MT4 predeclared vars like High, Low, Bid, Ask. Better to do Ask>=HighLineValue.

2. As for retaining the value of a variable from one tick to the next, use static variables for that. They are declared outside the scope of all functions like the "externs".

3. You didn't indicate whether the entry condition is checked every tick or every bar. I highly recommend only doing these kinds of checks on the opening of every bar. Here is the code I use. Remember to declare barStart as a static Datetime var.

Inserted Code
  if (barStart < Time[0]) // start of new bar
   {  
      barStart = Time[0];
      // code here
    }
That is enough for now, I will try to answer your question about partial closes later.
  • #3
  • Mar 17, 2011 11:59pm Mar 17, 2011 11:59pm
I gave it some thought and decided to provide the easy, unreliable method of doing things. If somebody wants to provide the difficult, reliable method be my guest, but it takes more programming skills.

The order close is easy. Use a lot size = 0.7 or whatever. Of course some logic has to be written to ensure the value is a valid multiple of the smallest lot size, but from your comments it seems that has been done. Once the old order has been closed MT4 opens a new order for the remaining amount of the trade, say 0.3. The trick is that the new order has a different ticket Id. If you have been managing the trade by means of a ticket Id, you need to capture the new ticket Id. I believe from your code, that you only have to keep track of one open trade, which makes things easy. That means that the only other thing is to keep track of the status. By that I mean knowing whether the open trade is the initial trade or the partial remainder. I think the easiest way to do that is to compare the lot size to the input lot size.
  • #4
  • Edited 4:55am Mar 18, 2011 4:15am | Edited 4:55am
I have found a way to partially close a trade in 3 steps when different conditions are met.

In this example 2 lots are opened. When 100pips profit is reached, 0.5 lot is closed (Lots1). Same when 200pips is hit, another 0.5 lot is closed (Lots2). Finally the remaining 1 Lot, will be closed in the last condition.


Inserted Code
// ORDERCLOSE CONDITIONS
 
Double NewLots;
 
if((Bid-OrderOpenPrice())>=1000*Point && OrderLots()>1.6) NewLots=Lots1;
if((Bid-OrderOpenPrice())>=2000*Point && OrderLots()>1.1) NewLots=Lots2;
if(trend<0 && trendprev<0) NewLots=OrderLots();
{
NewLots=NormalizeDouble(NewLots,Digits);
Print("Lots=",NewLots);
OrderClose(OrderTicket(),NewLots,Bid,3,Violet); // close position
return(0); // exit
}

This works as supposed, however, once a order is opened I get the following error message, even if none of the conditions are met:
Inserted Code
MaxTrader V0.xx1 EURUSD,H4: OrderClose error 4051
MaxTrader V0.xx1 EURUSD,H4: invalid lots number for OrderClose function
MaxTrader V0.xx1 EURUSD,H4: NewLots=0

I think this has to do with that the OrderClose function is ready to close the order immediately, but no lot size is specified at the present moment.

Again, the EA closes the specified lotsizes as supposed seamlessly with no trouble, but i'd like to get rid of the OrderClose error.

Any suggestion welcome.
  • #5
  • Edited 9:26am Mar 18, 2011 5:53am | Edited 9:26am
Thank you very much for the replies!

Quoting CodeMeister
1. Never do an equality comparison between price and another variable such as you have done (Ask==HighLineValue). This will work - most of the time, but what about the situation when numbers have unrounded digits in the nth decimal place? This happens with most MT4 predeclared vars like High, Low, Bid, Ask. Better to do Ask>=HighLineValue.
Excellent point I had not considered before. I've added in a range for the trigger.

Quoting CodeMeister
2. As for retaining the value of a variable from one tick to the next, use static variables for that. They are declared outside the scope of all functions like the "externs".
Edit - I've taken this advice and declared variables before start() so from my understanding they should hold their values between ticks.

Quoting CodeMeister
3. You didn't indicate whether the entry condition is checked every tick or every bar. I highly recommend only doing these kinds of checks on the opening of every bar. Here is the code I use. Remember to declare barStart as a static Datetime var.
This is probably something I'm going to have to revisit I think. I work on M15 which makes each bar open (or close) too late for my trading style. May I ask why you recommend doing these checks on the opening of every bar rather than every tick?

Quoting CodeMeister
The order close is easy. Use a lot size = 0.7 or whatever. Of course some logic has to be written to ensure the value is a valid multiple of the smallest lot size, but from your comments it seems that has been done. Once the old order has been closed MT4 opens a new order for the remaining amount of the trade, say 0.3. The trick is that the new order has a different ticket Id. If you have been managing the trade by means of a ticket Id, you need to capture the new ticket Id. I believe from your code, that you only have to keep track of one open...
I like this idea and I think this is what I will try initially. I'm just trying to figure out how I can achieve it.

-Edit - on second thought, if I do it this way I get stung with 2 spreads which I'd rather not do. But the idea is sound if I open two trades at the start

Quoting enterfx
I have found a way to partially close a trade in 3 steps when different conditions are met.
Interesting - I'll be keeping an eye on the replies to your query!
  • #6
  • Mar 18, 2011 12:08pm Mar 18, 2011 12:08pm
Quoting enterfx
I have found a way to partially close a trade in 3 steps when different conditions are met.

Finally, I managed to crack it. Here's the code with no errors and it works perfect, at least for my EA:

Inserted Code
// --- B U Y  ORDERCLOSE PRE-CONDITIONS
 
double Close1=0;
if((Bid-OrderOpenPrice())>=1000*Point && OrderLots()>1.6) Close1=1;
if(Close1==1) NewLots=Lots1;
if((Bid-OrderOpenPrice())>=2000*Point && OrderLots()>1.1) Close1=2;
if(Close1==2) NewLots=Lots2;
if(trend<0 && trendprev<0) Close1=3;
if(Close1==3) NewLots=OrderLots();
 
// --- ORDERCLOSE CONDITIONS
{
if(Close1==1 && OrderLots()>1.6)
{
OrderClose(OrderTicket(),NewLots,Bid,3,Violet); // close position
return(0); // exit
                }
if(Close1==2 && OrderLots()>1.1)
{
OrderClose(OrderTicket(),NewLots,Bid,3,Violet); // close position
return(0); // exit
                }
if(trend<0 && trendprev<0)
{
OrderClose(OrderTicket(),NewLots,Bid,3,Violet); // close position
return(0); // exit
                }
}
  • #7
  • Mar 18, 2011 12:11pm Mar 18, 2011 12:11pm
OK, I think I managed to get the EA to do a partial close and update the SL and TP in the remainder of the trade:

The trade is opened with a TP above what I intend to be my initial TP (in my case, I open it with my final TP).

At the point of opening the trade, the lot size is transferred to a static variable, and 70% and 30% of that figure is calculated and transferred to static variables.

When the price passes what I intend to be my initial TP (bearing in mind the actual TP lodged with the broker is higher), the EA sends an OrderClose() for 70% of the lots, and an OrderModify() to change the SL for the remaining 30%. The TP could also be modified here if required.

It seemed to behave ie no error messages when I ran it on a demo
  • #8
  • Mar 18, 2011 12:12pm Mar 18, 2011 12:12pm
Cross-posted with you there - looks like we both took different routes to the same place!
  • #9
  • Mar 19, 2011 10:02am Mar 19, 2011 10:02am
Quoting newbie2
Cross-posted with you there - looks like we both took different routes to the same place!
Congrats
  • #10
  • Nov 27, 2011 12:15pm Nov 27, 2011 12:15pm
Hi All!

I am a basket trader and I am looking for an EA to close part of the basket.

Example: lets say I am trading a basket of 10 or 14 pairs and the profit reaches a certain level up 100pips, I now want to close part of the basket lets say half the basket, but half the basket across all pairs, not half the pairs.
After the rest we let it run up to another preset level of pips.

Does something like this exist? Any help will be greatly appreciated.

Thank you.
  • #11
  • Nov 27, 2011 12:30pm Nov 27, 2011 12:30pm
I am attaching the "UPDATE STOPS EA" , the way you can set up your levels is very nice but it works on each pair individually, I am looking for and EA that will close a percentage of the full basket, pairs that are in profit and the pairs that are in loss, just the same % across the board.

Any help would be appreciated.

Thank you.
Attached File(s)
File Type: mq4 Update Stops to BEv3.mq4   11 KB | 2,142 downloads
  • #12
  • Dec 3, 2014 7:51am Dec 3, 2014 7:51am
Quoting newbie2
OK, I think I managed to get the EA to do a partial close and update the SL and TP in the remainder of the trade: The trade is opened with a TP above what I intend to be my initial TP (in my case, I open it with my final TP). At the point of opening the trade, the lot size is transferred to a static variable, and 70% and 30% of that figure is calculated and transferred to static variables. When the price passes what I intend to be my initial TP (bearing in mind the actual TP lodged with the broker is higher), the EA sends an OrderClose() for 70%...
Hi newbie2,
can you post the ea here please, i was looking this long time
thanks in advance
abmmalay
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