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Time based position exit EA or Script

  • #1
  • First Post: Aug 12, 2011 1:34pm Aug 12, 2011 1:34pm
Hi FF people,

Does anyone have a script or EA available for MT4 that will allow a time variable to be set such that when an EA opens a new position the script (I need) will then automatically close the open position after a set number of seconds, minutes and hours?

I have found several scripts that allow you to close all open postions at a specified time of day i.e close all positions at 14:30 hours. But this is not what I'm after.

I am using a system which opens only 1 trade at a time on the EUR/USD. The TP is only 3 pips and the win rate is very high but any trade that is open for more than an hour has a very high chance of being a loser and therefore I want to be able to set the system to close any open trade at 1 hour or less regardless of the floating P&L.

A bonus feature would be for the same script to be able to stop the EA from opening new trades during certain periods such as during NFP or on Sunday night.

Thanks all.
  • #2
  • Aug 12, 2011 4:22pm Aug 12, 2011 4:22pm
hmm... let me see...

You can actually just edit the EA. What you probably need is a time checking function to check the difference between the current broker server time and the OrderOpenTIme of your order(s) opened by your EA.

A basic function would be something like that:
1. Check if there's an open order by the selected Magic Number by checking through the OrdersTotal()
2. Next, check if the order has exceeded 1 hour with a basic function like this,

PHP Code
if(TimeCurrent()-OrderOpenTime()>=3600)
{
   ForceCloseAllOrders(Magic)
}
3. Now you can just add a function that force close all orders with that magic number, you can add more coding to enhance the uses of this function, like to close all SELL orders or to close all BUY orders or to check if there is profit available that is >1 pip or so before closing them or to check the spread rate to see if it more than your max spread rate before deciding to close them, etc.

Example of a ForceCloseAllOrders function:
PHP Code
void ForceCloseAllOrders(int magic) 
{ 
   for (int cnt = OrdersTotal()-1 ; cnt >= 0; cnt--) 
   { 
      OrderSelect(cnt,SELECT_BY_POS,MODE_TRADES); 
      if (OrderSymbol() == Symbol() && OrderMagicNumber() == magic && OrderCloseTime()==0) 
      { 
                  OrderClose(OrderTicket(),OrderLots(),OrderClosePrice(),3,Blue);     
      } 
   } 
}
Your bonus feature that you wanted is actually a little bit more complex, it requires 2 filters, 1 for sunday trade time filter, 1 for the nfp news filter.

For the Sunday night feature would be something like this...

Add to the top, before "int init()" function:
PHP Code
extern bool No_Trade_Sunday = true;
Add to the bottom:

PHP Code
int CheckTradingTime()
{
   int TradingTime=1;
   int SundayOffset = 5;//Offset by hours
   if(No_Trade_Sunday == true)
   {
      if(DayOfWeek()<=1&&Hour()<SundayOffset)TradingTime=0;
   }
   return (TradingTime);
}
Then you could just add if(CheckTradingTime()==1) as a conditional function to your ordersend functions.

For the news filter, you need to code additional functions to fetch the economic calendar data from either forexfactory's calendar or myfxbook.com or dailyfx.com or fxstreet.com, etc.

Or you just want to make things easier and avoid trading on NFP day, you can add some more features to the CheckTradingTime function:

Add to the top, before "int init()" function:
PHP Code
extern bool No_Trade_Sunday = true;
extern bool NFP_Trading= false;
Add to the bottom(This will stop the bot from trading on the first friday of every single month):
PHP Code
int CheckTradingTime()
{
   int TradingTime=1;
   int SundayOffset = 5;//Offset by hours
   if(No_Trade_Sunday == true)
   {
      if(DayOfWeek()<=1&&Hour()<SundayOffset)TradingTime=0;
   }
   if(NFP_Trading == false)
   {
      if(DayOfWeek()==5 && Day()<=7)TradingTime=0;
   }
   return (TradingTime);
}
  • #3
  • Aug 13, 2011 11:29am Aug 13, 2011 11:29am
Thanks Tigpips. I'll have a go at dropping this into the EA code. If I run into trouble doing it are you open to doing it for me for payment?
  • #4
  • Aug 15, 2011 5:19am Aug 15, 2011 5:19am
Yeap sure np, glad to help.
  • #5
  • Aug 26, 2011 4:59am Aug 26, 2011 4:59am
Quoting tigpips
Yeap sure np, glad to help.
Hi Tg, did you get the EA I emailed to you? dk
  • #6
  • Aug 26, 2011 5:33am Aug 26, 2011 5:33am
Nope I didn't receive any dk.
  • #7
  • Jan 3, 2014 5:15am Jan 3, 2014 5:15am
Can someone post this EA in .mq4 formation pls? Cant find it anywhere.
If someone is so kind as I cant programe a line of code...


So, EA must
1. look at all account open trades.
2. Close them promptly when position is opened for XX hours.

I appreciate.
  • #8
  • Jan 3, 2014 6:51am Jan 3, 2014 6:51am
this thread should contain what you are looking for -> http://www.forexfactory.com/showthread.php?p=7178806
PM me with coding requests and I'll probably put you on my ignore list
  • #9
  • Jan 3, 2014 6:55am Jan 3, 2014 6:55am
Quoting fxdaytrader_
this thread should contain what you are looking for -> http://www.forexfactory.com/showthread.php?p=7178806
thank you, seems this is what Im looking for. Cheers
  • #10
  • Last Post: Nov 3, 2017 1:08pm Nov 3, 2017 1:08pm
Quoting tigpips
Nope I didn't receive any dk.
Hi there, I am looking for a system that closes my orders on a specific time can u please provide me my email id is { email address deleted by staff }
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