How to code time-based stops | Forex Factory

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How to code time-based stops

  • #1
  • First Post: Dec 10, 2013 9:00am Dec 10, 2013 9:00am
Hi to all,

I need to code an ea with these conditions:

  1. Enter a long position at the close of each day whenever the closing price is higher than any close in the previous 8-days and the 50-day SMA is also above the 100-day SMA. Set a stop-loss at the 8-day low.
  2. Enter a short position at the close of each day whenever the closing price is lower than any close in the previous 8-days and the 50-day SMA is also below the 100-day SMA. Set a stop-loss at the 8-day high.
  3. A long position will be exited after 22-days or if it is stopped out. However, all long positions will be exited prior to their 22-day time-based exit should the price close lower than it has ever closed in the previous 8-days or if the 50-day SMA closes below the 100-day SMA.
  4. A short position will be exited after 22-days or if it is stopped out. However, ALL short positions will be exited prior to their 22-day time-based exit should the price close higher than it has ever closed in the previous 8-days or if the 50-day SMA closes above the 100-day SMA.

How can I code the exit on 22 days old positions? How can I do that with more than one position at a time? It is possible to build an indicator to perform this task? It is possible to do this with molanis sb and cib?

tnx and regards

  • #2
  • Dec 10, 2013 9:29am Dec 10, 2013 9:29am
Quoting eugenioca
How can I code the exit on 22 days old positions? How can I do that with more than one position at a time?
Not tested - try on demo first!
It should loop through all open positions. If symbol and magicnumber fit it will check how long the position is already open (current time - time of opening), if it is >= the specified days, it will try to close the position.



Insert the function at the end of your EA.
Then you can call the function, scheme TimeBased(Symbol(),MAGICNUMBER,TIMEBASED-SL-DAYS);, so for example
TimeBased(Symbol(),12345,22);


Inserted Code
void TimeBased(string symbol,int magicnumber,int TimeBasedSLdays) {
bool result;
 for (int cnt=OrdersTotal()-1; cnt>=0; cnt--) {
  if (!OrderSelect(cnt,SELECT_BY_POS,MODE_TRADES)) continue;
  if (OrderSymbol()!=symbol) continue;
  if (OrderMagicNumber()!=magicnumber) continue;
   {
    if (TimeCurrent() - OrderOpenTime() >= (TimeBasedSLdays * 86400)) {
     while(IsTradeContextBusy()) Sleep(100);
     RefreshRates();
     if (OrderType()==OP_BUY) result=OrderClose(OrderTicket(),OrderLots(),MarketInfo(OrderSymbol(),MODE_BID),9999,CLR_NONE);
     if (OrderType()==OP_SELL)result=OrderClose(OrderTicket(),OrderLots(),MarketInfo(OrderSymbol(),MODE_ASK),9999,CLR_NONE);
    }//if (TimeCurrent() - ...
   }
 }//for (int cnt=OrdersTotal()-1; cnt>=0; cnt--) {
}
PM me with coding requests and I'll probably put you on my ignore list
  • #3
  • Dec 10, 2013 12:50pm Dec 10, 2013 12:50pm
Tnx very much, Fxdaytrader
I'll try it and let You know
  • #4
  • Dec 11, 2013 1:52am Dec 11, 2013 1:52am
Hi Fxdaytrader,
I've tried to insert Your code in the body of the ea. I haven't had error warnings but testing results are the same with and without the mods. Here are the two eas. The n° 2 is the ea with the time based stop. Could You give them a look?
Tnx
Attached File(s)
File Type: mq4 eurusd_myfxdotorg01.mq4   90 KB | 375 downloads
File Type: mq4 eurusd_myfxdotorg02.mq4   91 KB | 388 downloads
  • #5
  • Dec 11, 2013 10:35am Dec 11, 2013 10:35am
should work now, it looks like it was not implemented right, ...

The calculation if the timebased-sl was hit is as follows:
if (TimeCurrent() - OrderOpenTime()) >= (TimeBasedSLdays * 86400) THEN CLOSE THE ORDER

I did not test it, but I think it should work.

I do not know what your EA does, if it closes the positions earlier, the timebased-SL does not kick in.
Attached File(s)
File Type: mq4 eurusd_myfxdotorg02.timebased.mq4   94 KB | 496 downloads
PM me with coding requests and I'll probably put you on my ignore list
  • #6
  • Dec 12, 2013 7:53am Dec 12, 2013 7:53am
Tnx very much fxdaytrader You gave a big boost to my work.
If I can bother You further, how can I modify the function in order to set an hour based stop instead?
  • #7
  • Dec 12, 2013 8:08am Dec 12, 2013 8:08am
see my post above:

the difference between current time and orderopentime is compared with: (TimeBasedSLdays * 86400)

What does it mean?

86400 seconds = (1 minute x 60 minutes) * 24 hours = (60 seconds * 60 minutes) * 24 hours

so (TimeBasedSLdays * 60) would be the minutes you want to stop, (TimeBasedSLdays * 60 * 60), or: (TimeBasedSLdays * 3600) the hours
PM me with coding requests and I'll probably put you on my ignore list
  • #8
  • Dec 13, 2013 11:13am Dec 13, 2013 11:13am
Thanks and regards
  • #9
  • Dec 29, 2013 8:22am Dec 29, 2013 8:22am
because it may belong to this thread also one quick hint:
find a simple timebased-SL ordermanager ea at http://www.forexfactory.com/showthre...06#post7178806
PM me with coding requests and I'll probably put you on my ignore list
  • #10
  • Last Post: Apr 6, 2020 12:52pm Apr 6, 2020 12:52pm
Hi fxdaytrader,
May you help me? I dont know why my ea bot does not close order that incur loss after 3 hours that I have programmed. May you look at my code and see what wrong?
if(OrderType()==OP_BUYLIMIT)
{
if(((TimeCurrent()- OrderOpenTime()>= 10800)&&(OrderOpenPrice() >= Open[0]))||((Close[1]<Close[7])
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