forex easy order script
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Forex easy order script

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As a result, you will need to make sure to enter your numbers as a double type. Best practice states that the double type requires a decimal place in MQL4. If you wanted to trade a 1 lot, you would write it as 1. The int type can't handle decimals, so make sure to leave those out when declaring Slippage, for instance. Every trader needs to learn at least some MQL4 in order to perform the simple operations of modifying code inputs, commenting out a line of code and understanding how to read the code to know if it is executing your MT4 Indicators , Metatrader expert advisors and MT4 scripts properly.

Search this site. Confirmation or lack of it. For updates. Report abuse. Page details. Page updated. Google Sites. Therefore, a true momentum strategy needs to have solid exit rules to protect profits , while still being able to ride as much of the extension move as possible.

The 5-Minute Momo strategy does just that. The five-minute momo looks for a momentum or "momo" burst on very short-term five-minute charts. First, traders lay on two technical indicators that are available with many charting software packages and platforms: the period exponential moving average EMA and moving average convergence divergence MACD.

EMA is chosen over the simple moving average because it places higher weight on recent movements, which is needed for fast momentum trades. While a moving average is used to help determine the trend, MACD histogram , which helps us gauge momentum, is used as a second indicator. This strategy waits for a reversal trade but only takes advantage of the setup when momentum supports the reversal enough to create a larger extension burst.

The position is exited in two separate segments; the first half helps us lock in gains and ensures that we never turn a winner into a loser and the second half lets us attempt to catch what could become a very large move with no risk because the stop has already been moved to breakeven.

Here's how it works:. Although there were a few instances of the price attempting to move above the period EMA between p. We waited for the MACD histogram to cross the zero line, and when it did, the trade was triggered at 1. We enter at 1. Our first target was 1. It was triggered approximately two and a half hours later. We exit half of the position and trail the remaining half by the period EMA minus 15 pips.

The second half is eventually closed at 1. ET for a total profit on the trade of The math is a bit more complicated on this one. The stop is at the EMA minus 20 pips or The first target is entry plus the amount risked, or It gets triggered five minutes later. The second half is eventually closed at ET for a total average profit on the trade of 35 pips. Although the profit was not as attractive as the first trade, the chart shows a clean and smooth move that indicates that price action conformed well to our rules.

We see the price cross below the period EMA, but the MACD histogram is still positive, so we wait for it to cross below the zero line 25 minutes later. Our trade is then triggered at 0. As a result, we enter at 0. Our stop is the EMA plus 20 pips. At the time, the EMA was at 0. Our first target is the entry price minus the amount risked or 0.

The target is hit two hours later, and the stop on the second half is moved to breakeven. We then proceed to trail the second half of the position by the period EMA plus 15 pips. The second half is then closed at 0. In the chart below, the price crosses below the period EMA and we wait for 10 minutes for the MACD histogram to move into negative territory, thereby triggering our entry order at 1. Based on the rules above, as soon as the trade is triggered, we put our stop at the EMA plus 20 pips or 1.

Our first target is the entry price minus the amount risked, or 1. It gets triggered shortly thereafter. The second half of the position is eventually closed at 1. Coincidentally enough, the trade was also closed at the exact moment when the MACD histogram flipped into positive territory.

As you can see, the five-minute momo trade is an extremely powerful strategy to capture momentum-based reversal moves. However, it does not always work, and it is important to explore an example of where it fails and to understand why this happens. As seen above, the price crosses below the period EMA, and we wait for 20 minutes for the MACD histogram to move into negative territory, putting our entry order at 1. We place our stop at the EMA plus 20 pips or 1.

Our first target is the entry price minus the amount risked or 1. The price trades down to a low of 1. It then proceeds to reverse course, eventually hitting our stop, causing a total trade loss of 30 pips.

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Therefore these are interesting levels to place limit orders Buy Orders for After finding a huge amount of use from TV user's wugamlo script Order Block Finder Experimental , I decided to make some much needed upgrades! Added support for plotting the last X number of Order Blocks and am currently working on a multi-timeframe version.

If you'd like to contribute to the MTF analysis portion, that would benefit tons of other scripts and So they create a movement that they would like to hide from us, but luckily for us they cannot. Take the example of Banks opening Short position for x reason. The Trend is already Bearish. The Price will fall and then make a Reversal most often to the price where they opened their This indicator was initially Created by BryceWH. Modification by leonsholo The indicator uses New York Time I modified it to match my own criteria which includes: - I adjusted the time zones.

Order blocks are a 2 candlestick pattern Bullish order block : down candle getting engulfed by an up candle Bearish order block : up candle getting engulfed by a down candle. This indicator finds trend following engulfings, and draws order blocks based on the 1st candle's range the first candle of the engulfing pattern.

It does filter the trend with simple moving averages of 21 and 55 periods, but it doesn't filter for retracements in the trend you should consider only the order blocks that are coming from engulfings after a retracement. Indicator working on the same logic as my other indicator " Institutional OrderBlock Pressure ". This has a much cleaner interface and represents the Zones of OrderBlock by "Box". It can work in addition to " Institutional OrderBlock pressure ".

Get started. Indicators, Strategies and Libraries All Types. All Types. To change lot size click [New Order] drop down and choose an order type. The selected order text will replaced [New Order] text. The changed lot size will remain the default until changed. Two options are now available. Otherwise all are the same. All other EasyOrder. I do not do trade Risk so cannot answer any questions re Risk. Remaining differences beyond scope of this post. Goes in EA folder.

Notes: 1. Assign hot keys combo to EasyOrder. See attached Pdf for further info and associated key codes. Ensure that no EA has been assigned the same hot key combo. I am busy so may not have time to answer questions - however supplied links should provide answers and solutions. Last edited: Mar 22, The Visual Easy Order can be accidentally set to Risk which will result in a lot size not intended which can be an unpleasant surprise.

Only Lots can be traded with this file. If a trade is taken on the Risk setting an error alert will pop up - the trade will not be placed. Last edited: Feb 20, Show hidden low quality content. Post reply. Insert quotes…. Similar threads. Enivid Nov 18, General Forex Discussion. General Forex Discussion Nov 18, Enivid. Bet Size Calculator. Maverick Jan 25, MetaTrader Indicators 2 3 4. Replies 77 Views 36K.

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Running a MT4 script is easy. Simply double click the Metatrader script or drop it on the chart of your choice. Confirmation (or lack of it). Support Articles · MetaTrader4 Products · Trading Heroes Metratrader4 Products · ForexTester Easy Order Entry Script · ForexTester RPA Riskless Pyramid Strategy. A simple strategy example; Applying a strategy to a chart; Backtesting and forwardtesting; Broker emulator; Order placement commands; Closing market.