How set Stop and Reverse orders? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Buy Stop Limit and Sell Stop Limit Orders on MT4 6 replies

EA to set levels buy stop/sell stop and partial profits 1 reply

Difference between stop-orders and limit-orders 9 replies

I need Script for Buy Stop and Sell Stop orders at 00 Level 2 replies

Buy Stop and Sell Stop orders with OCO and Trailing Stop 0 replies

Attachments: How set Stop and Reverse orders?
Exit Attachments

How set Stop and Reverse orders?

  • #1
  • First Post: Jul 19, 2006 3:59pm Jul 19, 2006 3:59pm
I created a simple EA based on 15 minutes chart..The sistem is the seguent:

- when Stochastic cross over its Moving Average then buy a lot
- when Stochastic cross under its Moving Average then close the long position
- when Stochastic cross under its Moving Average then sell short a lot
- when Stochastic cross over its Movinga Average then close the short position

But I saw that when it close a position, it attend the next bar to open a contrary position...It's possibile to make that it close the position and AT THE SAME MOMENT it open a contrary position? (Stop and Reverse)
Sorry for the question, but I very newbye..I've attached the file with my EA.
Can any expert help me?
Attached File(s)
File Type: mq4 EA1.mq4   10 KB | 838 downloads
  • #2
  • Jul 19, 2006 10:15pm Jul 19, 2006 10:15pm
If you are long 1 lot & need to close your position & reverse, then you need to sell 2 lots, in which 1 of them will actually close your long position & the second would be your net short position....


Thanks,

Nader
  • #3
  • Jul 19, 2006 11:53pm Jul 19, 2006 11:53pm
Quoting narafa
...you need to sell 2 lots, in which 1 of them will actually close your long position & the second would be your net short position...
This would be true if you were dealing with broker such as FXCM for example, however they don't offer MT4. What about brokers like InterbankFX? Contrary positions dont cancel each other out, instead they remain open in a hedge manner.

As far as coding, wouldn't the position close on a bar close anyway? Or are you talking about a set stop loss which could occur durring bar formation? If so, then you would need to incorporate looking into a lower time frame to execute your contrary position. For example, if you're using a 30min time frame and your stop loss is hit, then expert would look at the next 5min close, which would occur during your current 30min bar formation.
  • #4
  • Jul 20, 2006 12:19am Jul 20, 2006 12:19am
one more thing I wanted to add...
When using stochastic for positon open/close, your expert will wait until bar close to see if there is a stochastic cross. The reason this is done is because stochastic can cross and uncross a million times during bar formation. This would trigger false signals and possibly gazillion opened & closed positions.
  • #5
  • Jul 20, 2006 12:59am Jul 20, 2006 12:59am
Quoting narafa
If you are long 1 lot & need to close your position & reverse, then you need to sell 2 lots, in which 1 of them will actually close your long position & the second would be your net short position....


Thanks,

Nader
I tried to change the number of lots to close the position, but it doesn't work..
  • #6
  • Last Post: Jul 20, 2006 1:02am Jul 20, 2006 1:02am
Quoting Liquid4x
As far as coding, wouldn't the position close on a bar close anyway? Or are you talking about a set stop loss which could occur durring bar formation? If so, then you would need to incorporate looking into a lower time frame to execute your contrary position. For example, if you're using a 30min time frame and your stop loss is hit, then expert would look at the next 5min close, which would occur during your current 30min bar formation.
I would like it stop and reverse the position (at the same time) only on the close of the bar and not durring bar formation..How I can modify my code for this? I tried to change many parameters but nothing seems to work..
0 traders viewing now