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2009.11.23 14:55
Open and Close positions using the lines

Open and Close positions using the lines - expert for MetaTrader 4

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Description:

The Expert Advisor draws 4 lines: "BUY LINE", "SELL LINE" и and two corresponding "CLOSE" lines.

Your task is to move the lines to the prices you want to operate - to Buy, to Sell, or to Close.

The orders are set and close at the moment then price crossing the line, for example for Buy case: if the Ask price crosses "Buy LINE", and for Sell case if the Bid price crosses "SELL LINE", the same is for "CLOSE" lines.

Image:

Here is a trade example at figure

The total number of lines can be reduced using the lines

DRAW_SELL - draw Sell line
DRAW_BUY - draw Buy line
DRAW_CLOSE1 - draw Close1 line
DRAW_CLOSE2 - draw Close2 line

There are some external variables: lot - lot size and order - maximal orders allowed. The CLOSE lines can be used for a trailing stop, just choose right angle.

The Expert Advisor has been created using The signal lines with alert after crossing, you can find my other solutions here. Good Luck!


Editor's remark:

Note that it's a mirror translation of the original Russian version.

If you have any questions to the author, suggestions or comments, it's better to post them there.

If you have found this code useful for trading or educational purposes, don't forget to thank author.

Translated from Russian by MetaQuotes Software Corp.
Original code: http://www.mql5.com/ru/code/9347