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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

Last comments | Go to discussion (4)
Paulus O
ultimaforex | 24 Nov 2009 at 21:31

thank you! I will try this first :)

Giampiero Raschetti
giaras | 8 Dec 2009 at 20:07

Really interesting your ea.

Just not clear what you mean with "CLOSE line can be used for trailing stop".

There is no evidence about this behavior.

Can you give us some more information ?

Thank your very much for your work.

Vladimir Khlystov
cmillion | 9 Dec 2009 at 07:09
giaras:

Line "CLOSE " closes position, necessary to allow adviser to trade

MQL4 Comments
mql4_comments | 13 Mar 2010 at 22:40

but how to includt it in my trading plateform (meta 4)