EA needs stop loss improvement

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Can anyone please help me, how I can improve this code as it is not finished.

Many thanks


//+------------------------------------------------------------------+
//| Take-profit.mq4 |
//| Copyright © 2010, Christopher |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2010, Christopher"
#property link "zma@mail.ru"

extern int Shift1 = 0;
extern int Shift2 = 1;
extern int Shift3 = 2;
extern int Shift4 = 3;
extern int TrailingStop = 1;
extern int StopLoss = 0;
extern double ProfitTarget =10;
extern double Lots = 1;
extern bool RiskManagement=true; //money management
extern double RiskPercent=1; //risk in percentage
extern int magicnumber = 777;
extern bool PolLots = true;
extern int MaxOrders = 1;

int prevtime;
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----

//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----

//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
//----

//profit target

if(AccountEquity()>(AccountBalance()+ProfitTarget))
{
CloseOrders(magicnumber);
return(0);
}

//risk management

bool MM=RiskManagement;
if(MM){if(RiskPercent<1||RiskPercent>100){Comment("Invalid Risk Value.");return(0);}
else{Lots=MathFloor((AccountFreeMargin()*AccountLeverage()*RiskPercent*Point*100)/(Ask*MarketInfo(Symbol(),MODE_LOTSIZE)*
MarketInfo(Symbol(),MODE_MINLOT)))*MarketInfo(Symbol(),MODE_MINLOT);}}
if(MM==false){Lots=Lots;}

int i=0;
int total = OrdersTotal();
for(i = 0; i <= total; i++)
{
if(TrailingStop>0)
{
OrderSelect(i, SELECT_BY_POS, MODE_TRADES);
if(OrderMagicNumber() == magicnumber)
{
TrailingStairs(OrderTicket(),TrailingStop);
}
}
}

bool BuyOp=false;
bool SellOp=false;


if (High[Shift1]>High[Shift2]&&High[Shift2]>High[Shift3]&&High[Shift3]>High[Shift4]&&Open[Shift1]>Open[Shift2]&&Open[Shift2]>Open[Shift3]&&Open[Shift3]>Open[Shift4]) BuyOp=true;
if (High[Shift1]<High[Shift2]&&High[Shift2]<High[Shift3]&&High[Shift3]<High[Shift4]&&Open[Shift1]<Open[Shift2]&&Open[Shift2]<Open[Shift3]&&Open[Shift3]<Open[Shift4]) SellOp=true;

if(Time[0] == prevtime)
return(0);
prevtime = Time[0];
if(!IsTradeAllowed())
{
prevtime = Time[1];
return(0);
}


if (total < MaxOrders || MaxOrders == 0)
{
if(BuyOp)
{
if (StopLoss!=0)
{
OrderSend(Symbol(),OP_BUY,Lots,Ask,3,Bid-(StopLoss*Point),0,"OpenTiks_Buy",magicnumber,0,Green);
}
else
{
OrderSend(Symbol(),OP_BUY,Lots,Ask,3,0,0,"OpenTiks_Buy",magicnumber,0,Green);
}
}
if(SellOp)
{
if (StopLoss!=0)
{
OrderSend(Symbol(),OP_SELL,Lots,Bid,3,Ask+(StopLoss*Point),0,"OpenTiks_Sell",magicnumber,0,Red);
}
else
{
OrderSend(Symbol(),OP_SELL,Lots,Bid,3,0,0,"OpenTiks_Sell",magicnumber,0,Red);
}
}
}

//----
return(0);
}
//+------------------------------------------------------------------+
void TrailingStairs(int ticket,int trldistance)
{
int Spred=Ask - Bid;
if (OrderType()==OP_BUY)
{
if((Bid-OrderOpenPrice())>(Point*trldistance))
{
if(OrderStopLoss()<Bid-Point*trldistance || (OrderStopLoss()==0))
{
OrderModify(ticket,OrderOpenPrice(),Bid-Point*trldistance,OrderTakeProfit(),0,Green);
if (PolLots)
if (NormalizeDouble(OrderLots()/2,2)>MarketInfo(Symbol(), MODE_MINLOT))
{
OrderClose(ticket,NormalizeDouble(OrderLots()/2,2),Ask,3,Green);
}
else
{
OrderClose(ticket,OrderLots(),Ask,3,Green);
}
}
}
}
else
{
if((OrderOpenPrice()-Ask)>(Point*trldistance))
{
if((OrderStopLoss()>(Ask+Point*trldistance)) || (OrderStopLoss()==0))
{
OrderModify(OrderTicket(),OrderOpenPrice(),Ask+Point*trldistance,OrderTakeProfit(),0,Red);
if (PolLots)
if (NormalizeDouble(OrderLots()/2,2)>MarketInfo(Symbol(), MODE_MINLOT))
{
OrderClose(ticket,NormalizeDouble(OrderLots()/2,2),Bid,3,Green);
}
else
{
OrderClose(ticket,OrderLots(),Bid,3,Green);
}
}
}
}
}

//|---------close buy orders

int CloseOrders(int Magic)
{
int result,total=OrdersTotal();

for (int cnt=total-1;cnt>=0;cnt--)
{
OrderSelect(cnt,SELECT_BY_POS,MODE_TRADES);
if(OrderMagicNumber()==Magic&&OrderSymbol()==Symbol())
{
if(OrderType()==OP_BUY)
{
OrderClose(OrderTicket(),OrderLots(),Bid,3);
switch(OrderType())
{
case OP_BUYLIMIT:
case OP_BUYSTOP:
result=OrderDelete(OrderTicket());
}
}
if(OrderType()==OP_SELL)
{
OrderClose(OrderTicket(),OrderLots(),Ask,3);
switch(OrderType())
{
case OP_SELLLIMIT:
case OP_SELLSTOP:
result=OrderDelete(OrderTicket());
}
}
}
}
return(0);
}
 

You may get more response

V

 

So what is your issue with the current method? It would appear to trail the stop based on a fixed amount. Perhaps I would add a check to ensure the stop is outside the minimum allowable, but that I suspect will be redundant if it's a fixed pip system.

V

 
Viffer:

So what is your issue with the current method? It would appear to trail the stop based on a fixed amount. Perhaps I would add a check to ensure the stop is outside the minimum allowable, but that I suspect will be redundant if it's a fixed pip system.

V


when you run the system it incurs a big loss at the end, why? and how can we over come this?

 
FxUniPip:

when you run the system it incurs a big loss at the end, why? and how can we over come this?



1) Add a value for the Stop Loss

2) Add a time-of-day filter

3) Get a better system

You decide

-BB-

 
BarrowBoy:


1) Add a value for the Stop Loss

2) Add a time-of-day filter

3) Get a better system

You decide

-BB-


Im new to this EA stuff, could you please help abit.
 

Hi,

Here are some options for a stop-loss system:

1) Trailing stop

2) Dynamic SL based on average trading range (ATR)

3) Support/resistance levels (a lot of options here)

4) Chandelier exit

5) Close long orders on short signal and vice versa

6) Trend-following indicators such as Heiken Ashi, Parabolic SAR

[quote] when you run the system it incurs a big loss at the end, why? and how can we over come this? [/quote]

This is because all open orders are closed.

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