MT4 - Multiple Take Profit Levels/Partial Close | Forex Factory

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MT4 - Multiple Take Profit Levels/Partial Close

  • #1
  • First Post: Feb 25, 2013 10:06pm Feb 25, 2013 10:06pm
I would like to close an order at different levels. Example I close half of my order at takeprofit1 and the remainder at takeprofit2 using something like this:
Inserted Code
if (OrderType()==OP_BUY)
      {
      if (Bid > OrderOpenPrice() + TakeProfit1)
         {
         OrderClose( 12345, 0.5, Bid, 2 );
         }
      if (Bid > OrderOpenPrice() + TakeProfit2)
         {
         OrderClose( 12345, 0.5, Bid, 2 );
         }
      }
The obvious problem is that when price hits my TakeProfit1 it will try to close on every new tick eventually closing the entire order. Is there a way to have this only perform the action once?

I realize I could open two separate orders with different take profits but I'd prefer to learn how to do it differently if there is another way. I like the idea of hiding my take profits from the broker. Any help or advice is appreciated.
  • #2
  • Feb 25, 2013 10:16pm Feb 25, 2013 10:16pm
Quoting trumpjr
I would like to close an order at different levels. Example I close half of my order at takeprofit1 and the remainder at takeprofit2 using something like this:
Inserted Code
if (OrderType()==OP_BUY)
      {
      if (Bid > OrderOpenPrice() + TakeProfit1)
         {
         OrderClose( 12345, 0.5, Bid, 2 );
         }
      if (Bid > OrderOpenPrice() + TakeProfit2)
         {
         OrderClose( 12345, 0.5, Bid, 2 );
         }
      }
The obvious problem is that when price hits my TakeProfit1 it will try to close on every new tick eventually closing...
just use two separate orders. splitting an order up after it is opened is a pain in the ass and requires tracking current orders and looking for newly created tickets, etc, etc. it's entirely do-able, but if you have become stuck after only typing the above code then it's best to just let it go for now and save it for the future when you can code better.

just use two separate orders and get on with your life. otherwise, we'll be the ones who end-up writing the code for you and you won't have worked anything out for yourself.
Congratulations ScalaFX for coming out of the closet!
  • #3
  • Feb 25, 2013 10:33pm Feb 25, 2013 10:33pm
Closing part of an order is definitely for advanced level coders.
  • #4
  • Feb 26, 2013 1:13am Feb 26, 2013 1:13am
Quoting trumpjr
The obvious problem is that when price hits my TakeProfit1 it will try to close on every new tick eventually closing the entire order. Is there a way to have this only perform the action once?

I realize I could open two separate orders with different take profits but I'd prefer to learn how to do it differently if there is another way. I like the idea of hiding my take profits from the broker. Any help or advice is appreciated.
//-----

hey trumpjr...... use orderselect to choose order..... use an orderlots() filter.... below is just a quick rough example.... h

//----

Inserted Code
 
 for(int i = Orderstotal()-1; i >= 0; i--)
    {
    OrderSelect(i, SEL_BY_POSITION, MODE_TRADES);
      if(OrderSymbol() != Symbol())  continue;

      if(OrderLots() >= 1)                                //   orderlots filter
        {
      if(OrderType() == OP_BUY)
        {
      if(Bid > OrderOpenPrice() + TakeProfit1)
        {
         OrderClose(OrderTicket(), 0.5, Bid, 0, CLR_NONE);   
         }
         }
to trade and code, keep both simple... no call to impress....h
  • #5
  • Mar 14, 2013 4:57pm Mar 14, 2013 4:57pm
You must track each order via unique magic number in order to manage positions in pieces.
As soon as you close partially a given open order, its order ticket changes and then you need to retrieve the new ticket number. The old ticket number just gets discarded. In order to get the new ticket number and, in such a way, keep control over the remaining partially open order, you need to retrieve the ticket number based on the magic number. The magic number given to an order won't change against multiple order split closures so you can still track the original order lifecycle.
  • #6
  • Mar 14, 2013 6:54pm Mar 14, 2013 6:54pm
Magic numbers aren't unique to an order. The same magic number (usually) is assigned to every order opened by an EA. There could many orders with the same magic number. Your suggestion won't work.
  • #7
  • Apr 24, 2017 12:52am Apr 24, 2017 12:52am
is there a simple way of doing this?

the first set of of stops will need to be tighter as per fifo


Assume upon codition i buy 2 separate orders....lot A, and lot B

for lotA i want SL-A at 30 pips and TP-A at 30pips

for lotB i want SL-B at 50 pips and TP-B as 50 pips

i assume i would need to close via ticket number and use hidden losses as my broker closes all positions at any SL TP

this seems so simple yet im still new at the coding and im driving myself nuts
are there any examples of such code so i can visually break down how it works
  • #8
  • Edited 10:19am Apr 24, 2017 9:11am | Edited 10:19am
Anything other than the actual take profit in the order is going to be imaginary, so you'll have to calculate your secondary
in your OrderSelect loop:
Inserted Code
if((OrderType() == OP_BUY) &&
   (OrderSymbol() == Symbol()) &&
   (OrderMagicNumber() == MagicNumber))
{
   if(OrderLots() => 1 &&(Bid => OrderTakeProfit() - (TakeProfitA * Point)))
   {
      double dNewLotSize = NormalizeDouble(OrderLots() / 2, 2);
      if(!OrderClose(OrderTicket(), dNewLotSize, Bid, 3, Violet))
         Print("OrderClose error ",GetLastError());
      else
         Print("OrderClose - " + OrderTicket());
   }
}
  • #9
  • Apr 25, 2017 7:54am Apr 25, 2017 7:54am
thank you so much for taking the time to post this

im have trouble translating the syntax within the if loop

how is this differentiating between LotA and Lot B?
or is it assuming that TakeProfit A must happen first so it checks for >than only ?

what is this line of code doing?
Inserted Code
double dNewLotSize = NormalizeDouble(OrderLots() / 2, 2);

i assumed this would have had to occur by picking the close via ticket number
but your if loop seems to work around that, im just having trouble translating it clearly
  • #10
  • Last Post: Apr 27, 2017 9:58am Apr 27, 2017 9:58am
how does this work around the ticket number?
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