New article Universal Expert Advisor: Pending Orders and Hedging Support (Part 5) has been published:
article provides further description of the CStrategy trading engine.
By popular demand of users, we have added pending order support
functions to the trading engine. Also, the latest version of the
MetaTrader 5 now supports accounts with the hedging option. The same
support has been added to CStrategy. The article provides a detailed
description of algorithms for the use of pending orders, as well as of
CStrategy operation principles on accounts with the hedging option
The set of
CStrategy classes keeps actively improving. New algorithms are being
added to the engine to make trading even more efficient and simple.
Further algorithm development mainly stems from the feedback of users
who read this series of articles and ask questions in the article
discussion topics or by sending personal messages. One of the most
frequent questions was about the use of pending orders. Well, pending
orders were not discussed in the previous articles, while the CStrategy
engine did not provide a convenient tool for working with pending
orders. This article introduces significant additions to the CStrategy
trading engines. After all these changes, CStrategy now provides new
tools for working with pending orders.
We will create a
strategy that will be based on entries during strong market movements in
the direction of the movement, so it will be called CImpulse.
At the opening of each new bar, the EA will measure a predefined
distance from the current bar, expressed as a percentage. The EA will
place pending BuyStop and SellStop orders at an equal distance from the
current price. The distance is set as a percentage. If one of the orders
trigger within one bar, it means that the price has moved quite a long
distance, which indicates the market impulse. The order will be executed
and will turn into an open position.
Open positions will be
managed by a simple moving average. If the price returns to the Moving
Average, the position will be closed. The screenshot below shows a
typical entry into a long position upon triggering of a pending BuyStop
Fig. 1. A long position of the CImpulse strategy.
Author: Vasiliy Sokolov