How do I set default Stop Loss / Take Profit

astro · #1 (**permalink**) 12-29-2005, 07:24 PM

I manual trade and I notice I can set the default on the number of lots I buy/sell, but how do I set the default for Stop Loss / Take Profit so I don't have to waste time entering the numbers in manually?

Thank-you in advance.

codersguru · #2 (**permalink**) 12-29-2005, 10:53 PM

Quote:

Originally Posted by astro

I manual trade and I notice I can set the default on the number of lots I buy/sell, but how do I set the default for Stop Loss / Take Profit so I don't have to waste time entering the numbers in manually?

Thank-you in advance.

astro,

You can not set a default value for S/L and T/P manually.
But it's an easy task to write a script in mql4 to do that.

For example you can run this script when you want to buy without using the New Order dialog:

PHP Code:


			
 //+------------------------------------------------------------------+
//|                                                   trade"buy".mq4 |
//|                      Copyright © 2004, MetaQuotes Software Corp. |
//|                                       http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#include <stdlib.mqh>
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net/"
//+------------------------------------------------------------------+
//| script "buy"                                   |
//+------------------------------------------------------------------+
extern double TakeProfit = 30;
extern double StopLoss = 15;
extern double Lots = 1.0;
extern double TrailingStop = 15;

int start()
  {
   int ticket;
//----
   while(true)
     {
      ticket=OrderSend(Symbol(),OP_BUY,Lots,Ask,3,Bid-StopLoss*Point,Ask+TakeProfit*Point,"buy opened",255,0,Lime);
      if(ticket<=0)
        {
         int error=GetLastError();
         Print("Error = ",ErrorDescription(error));
         if(error==134) break;            // not enough money
         if(error==135) RefreshRates();   // prices changed
         break;
        }
      //---- remove break statement below and take trading for all money
      else { OrderPrint(); break; }
      //---- 10 seconds wait
      Sleep(10000);
     }
      return(0); // exit
       }

if(TrailingStop>0)  
              {                 
               if(Bid-OrderOpenPrice()>Point*TrailingStop)
                 {
                  if(OrderStopLoss()<Bid-Point*TrailingStop)
                    {
                     OrderModify(OrderTicket(),OrderOpenPrice(),Bid-Point*TrailingStop,OrderTakeProfit(),0,Green);
                     return(0);
                    }
               }
//----
   return(0);
  }

//+------------------------------------------------------------------+

And you can run this script when you want to sell without using the New Order dialog:

PHP Code:


			
 //+------------------------------------------------------------------+
//|                                                  trade"sell".mq4 |
//|                      Copyright © 2004, MetaQuotes Software Corp. |
//|                                       http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#include <stdlib.mqh>
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net/"
//+------------------------------------------------------------------+
//| script "sell"                                   |
//+------------------------------------------------------------------+
extern double TakeProfit = 30;
extern double StopLoss = 15;
extern double Lots = 1.0;
extern double TrailingStop = 0;

int start()
  {
   int ticket;
//----
   while(true)
     {
      ticket=OrderSend(Symbol(),OP_SELL,Lots,Bid,3,Ask+StopLoss*Point,Bid-TakeProfit*Point,"sell opened",255,0,Red);
      if(ticket<=0)
        {
         int error=GetLastError();
         Print("Error = ",ErrorDescription(error));
         if(error==134) break;            // not enough money
         if(error==135) RefreshRates();   // prices changed
         break;
        }
      //---- remove break statement below and take trading for all money
      else { OrderPrint(); break; }
      //---- 10 seconds wait
      Sleep(10000);
     }
      return(0); // exit
       }

            if(TrailingStop>0)  
              {                 
               if((OrderOpenPrice()-Ask)>(Point*TrailingStop))
                 {
                  if((OrderStopLoss()>(Ask+Point*TrailingStop)) || (OrderStopLoss()==0))
                    {
                     OrderModify(OrderTicket(),OrderOpenPrice(),Ask+Point*TrailingStop,OrderTakeProfit(),0,Red);
                     return(0);
                    }
               }
//----
   return(0);
  }
//+------------------------------------------------------------------+

astro · #3 (**permalink**) 12-30-2005, 06:05 PM

I will plug these in over the weeked and try them out next week. Thanks again.

Altern8 · #4 (**permalink**) 01-25-2006, 02:35 PM

Hi codersguru,

Just a quick question. I changed the script a little, by changing the Op_SELL to OP_SELLSTOP, and works good.

Is it possible/can you add a little slice of code, that will delete the pending order after 30mins if not trade was taken?

I have attached the script.

Thankyou

-A8

codersguru · #5 (**permalink**) 01-25-2006, 05:51 PM

Quote:

Originally Posted by Altern8

Hi codersguru,

Just a quick question. I changed the script a little, by changing the Op_SELL to OP_SELLSTOP, and works good.

Is it possible/can you add a little slice of code, that will delete the pending order after 30mins if not trade was taken?

I have attached the script.

Thankyou

-A8

A8,

You can set the expiration parameter in the OrderSend function for the pending order like this code:

PHP Code:


			
//+------------------------------------------------------------------+
//|                                                  trade"sell".mq4 |
//|                      Copyright © 2004, MetaQuotes Software Corp. |
//|                                       http://www.metaquotes.net/ |
//+------------------------------------------------------------------+
#include <stdlib.mqh>
#property copyright "Copyright © 2004, MetaQuotes Software Corp."
#property link      "http://www.metaquotes.net/"
//+------------------------------------------------------------------+
//| script "sell"                                   |
//+------------------------------------------------------------------+
extern double TakeProfit = 120;
extern double StopLoss = 15;
extern double Lots = 0.1;
extern double TrailingStop = 15;
extern double PipsFor = 10;

int start()
  {
   int ticket;
//----
   while(true)
     {
      datetime close_time = CurTime() + TimeMinute(30); 
      Alert ("This order will be closed at: " + TimeToStr(close_time)); 
      ticket=OrderSend(Symbol(),OP_SELLSTOP,Lots,Bid-PipsFor*Point,3,Ask+StopLoss*Point,Bid-TakeProfit*Point,"sell opened",255,close_time,Red);
      if(ticket<=0)
        {
         int error=GetLastError();
         Print("Error = ",ErrorDescription(error));
         if(error==134) break;            // not enough money
         if(error==135) RefreshRates();   // prices changed
         break;
        }
      //---- remove break statement below and take trading for all money
      else { OrderPrint(); break; }
      //---- 10 seconds wait
      Sleep(10000);
     }
      return(0); // exit
       }

            if(TrailingStop>0)  
              {                 
               if((OrderOpenPrice()-Ask)>(Point*TrailingStop))
                 {
                  if((OrderStopLoss()>(Ask+Point*TrailingStop)) || (OrderStopLoss()==0))
                    {
                     OrderModify(OrderTicket(),OrderOpenPrice(),Ask+Point*TrailingStop,OrderTakeProfit(),0,Red);
                     return(0);
                    }
               }
//----
   return(0);
  }
//+------------------------------------------------------------------+

Altern8 · #6 (**permalink**) 01-25-2006, 06:46 PM

Hi,

Thats great, thankyou

-A8

Altern8 · #7 (**permalink**) 01-26-2006, 09:23 AM

Hi codersguru,

Thankyou for you help, slightly off topic, is it possible to convert this to use in MT3 or do you known where I can d/load some MT3 scripts?

regards

-A8

codersguru · #8 (**permalink**) 01-26-2006, 12:47 PM

Quote:

Originally Posted by Altern8

Hi codersguru,

Thankyou for you help, slightly off topic, is it possible to convert this to use in MT3 or do you known where I can d/load some MT3 scripts?

regards

-A8

A8,

When I get the time I'll convert it to MQL2 for you.

Aaragorn · #9 (**permalink**) 06-13-2006, 11:55 PM

i saved theese in the scripts and clicked on "execute on charts" and nothing happened, what can i do.

it comes up with 2 warnings from the compiler

'TrailingStop' - expression on global scope not allowed
'{' - expression on global scope not allowed

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
EA to close positions after profit/loss hit	james2ko	Expert Advisors - Metatrader 4	1	05-22-2007 04:03 AM
Stop Loss/Take Profit problem	caldolegare	Metatrader 4	4	02-17-2007 05:27 AM
Employ Someone and profit from Loss	tony hadley	General Discussion	1	01-08-2007 07:37 AM
Profit/Loss - 221/3	Oligarh	Expert Advisors - Metatrader 4	81	12-05-2006 09:44 AM

Register in Forex TSD!
Trading Systems Leaders in this forum (automated trading systems) are winning more than 3000 pips in a month (30000$ investing one lot every time). Click here to register and get more information