Intial Stop Loss (edited)

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Bekim Bytyqi
437
Bekim Bytyqi  

Hi everyone,

I am using the built-in ExpertMAPSAR in Metatrader 5. It has no initial stop loss, just a trailing stop. What code do I have to add in order to place an initial stop loss of 1% of the equity, and, where do I have to place it?

I am a newbie.

Thank you so much in advance.


//+------------------------------------------------------------------+
//|                                                 ExpertMAPSAR.mq5 |
//|                   Copyright 2009-2017, MetaQuotes Software Corp. |
//|                                              http://www.mql5.com |
//+------------------------------------------------------------------+
#property copyright "2009-2017, MetaQuotes Software Corp."
#property link      "http://www.mql5.com"
#property version   "1.00"
//+------------------------------------------------------------------+
//| Include                                                          |
//+------------------------------------------------------------------+
#include <Expert\Expert.mqh>
#include <Expert\Signal\SignalMA.mqh>
#include <Expert\Trailing\TrailingParabolicSAR.mqh>
#include <Expert\Money\MoneyNone.mqh>
//+------------------------------------------------------------------+
//| Inputs                                                           |
//+------------------------------------------------------------------+
//--- inputs for expert
input string             Inp_Expert_Title                 ="ExpertMAPSAR";
int                      Expert_MagicNumber               =14598;
bool                     Expert_EveryTick                 =false;
//--- inputs for signal
input int                Inp_Signal_MA_Period             =12;
input int                Inp_Signal_MA_Shift              =6;
input ENUM_MA_METHOD     Inp_Signal_MA_Method             =MODE_SMA;
input ENUM_APPLIED_PRICE Inp_Signal_MA_Applied            =PRICE_CLOSE;
//--- inputs for trailing
input double             Inp_Trailing_ParabolicSAR_Step   =0.02;
input double             Inp_Trailing_ParabolicSAR_Maximum=0.2;
//+------------------------------------------------------------------+
//| Global expert object                                             |
//+------------------------------------------------------------------+
CExpert ExtExpert;
//+------------------------------------------------------------------+
//| Initialization function of the expert                            |
//+------------------------------------------------------------------+
int OnInit(void)
  {
//--- Initializing expert
   if(!ExtExpert.Init(Symbol(),Period(),Expert_EveryTick,Expert_MagicNumber))
     {
      //--- failed
      printf(__FUNCTION__+": error initializing expert");
      ExtExpert.Deinit();
      return(-1);
     }
//--- Creation of signal object
   CSignalMA *signal=new CSignalMA;
   if(signal==NULL)
     {
      //--- failed
      printf(__FUNCTION__+": error creating signal");
      ExtExpert.Deinit();
      return(-2);
     }
//--- Add signal to expert (will be deleted automatically))
   if(!ExtExpert.InitSignal(signal))
     {
      //--- failed
      printf(__FUNCTION__+": error initializing signal");
      ExtExpert.Deinit();
      return(-3);
     }
//--- Set signal parameters
   signal.PeriodMA(Inp_Signal_MA_Period);
   signal.Shift(Inp_Signal_MA_Shift);
   signal.Method(Inp_Signal_MA_Method);
   signal.Applied(Inp_Signal_MA_Applied);
//--- Check signal parameters
   if(!signal.ValidationSettings())
     {
      //--- failed
      printf(__FUNCTION__+": error signal parameters");
      ExtExpert.Deinit();
      return(-4);
     }
//--- Creation of trailing object
   CTrailingPSAR *trailing=new CTrailingPSAR;
   if(trailing==NULL)
     {
      //--- failed
      printf(__FUNCTION__+": error creating trailing");
      ExtExpert.Deinit();
      return(-5);
     }
//--- Add trailing to expert (will be deleted automatically))
   if(!ExtExpert.InitTrailing(trailing))
     {
      //--- failed
      printf(__FUNCTION__+": error initializing trailing");
      ExtExpert.Deinit();
      return(-6);
     }
//--- Set trailing parameters
   trailing.Step(Inp_Trailing_ParabolicSAR_Step);
   trailing.Maximum(Inp_Trailing_ParabolicSAR_Maximum);
//--- Check trailing parameters
   if(!trailing.ValidationSettings())
     {
      //--- failed
      printf(__FUNCTION__+": error trailing parameters");
      ExtExpert.Deinit();
      return(-7);
     }
//--- Creation of money object
   CMoneyNone *money=new CMoneyNone;
   if(money==NULL)
     {
      //--- failed
      printf(__FUNCTION__+": error creating money");
      ExtExpert.Deinit();
      return(-8);
     }
//--- Add money to expert (will be deleted automatically))
   if(!ExtExpert.InitMoney(money))
     {
      //--- failed
      printf(__FUNCTION__+": error initializing money");
      ExtExpert.Deinit();
      return(-9);
     }
//--- Set money parameters
//--- Check money parameters
   if(!money.ValidationSettings())
     {
      //--- failed
      printf(__FUNCTION__+": error money parameters");
      ExtExpert.Deinit();
      return(-10);
     }
//--- Tuning of all necessary indicators
   if(!ExtExpert.InitIndicators())
     {
      //--- failed
      printf(__FUNCTION__+": error initializing indicators");
      ExtExpert.Deinit();
      return(-11);
     }
//--- succeed
   return(INIT_SUCCEEDED);
  }
//+------------------------------------------------------------------+
//| Deinitialization function of the expert                          |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
  {
   ExtExpert.Deinit();
  }
//+------------------------------------------------------------------+
//| Function-event handler "tick"                                    |
//+------------------------------------------------------------------+
void OnTick(void)
  {
   ExtExpert.OnTick();
  }
//+------------------------------------------------------------------+
//| Function-event handler "trade"                                   |
//+------------------------------------------------------------------+
void OnTrade(void)
  {
   ExtExpert.OnTrade();
  }
//+------------------------------------------------------------------+
//| Function-event handler "timer"                                   |
//+------------------------------------------------------------------+
void OnTimer(void)
  {
   ExtExpert.OnTimer();
  }
//+------------------------------------------------------------------+
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Bekim Bytyqi
437
Bekim Bytyqi  
Hope, you can help me :-)
Alain Verleyen
36058
Alain Verleyen  
doubleBB:
Hope, you can help me :-)

What have you tried ?

Bekim Bytyqi
437
Bekim Bytyqi  
Alain Verleyen:

What have you tried ?

I am very new to EAs. I have just backteted this EA and found that it never places a Stop Loss, just a trailing stop, i.e . if the trade goes against me the drawdown is huge. I would like to have an initial s/l of 1% of the equity.
Alain Verleyen
36058
Alain Verleyen  
doubleBB:
I am very new to EAs. I have just backteted this EA and found that it never places a Stop Loss, just a trailing stop, i.e . if the trade goes against me the drawdown is huge. I would like to have an initial s/l of 1% of the equity.

I understood that. What will you do to get what you would like ? Except hoping to get it for free. Do you want to learn to do it ? To pay someone to do it ? To offer your service in something else in exchange ? etc ...

Bekim Bytyqi
437
Bekim Bytyqi  
Alain Verleyen:

I understood that. What will you do to get what you would like ? Except hoping to get it for free. Do you want to learn to do it ? To pay someone to do it ? To offer your service in something else in exchange ? etc ...

I thought there are many experienced traders who know the code and could help me.

Bekim Bytyqi
437
Bekim Bytyqi  
doubleBB:

I thought there are many experienced traders who know the code and could help me.

So far, I have googled and tried to learn the basics of MQL5. But to me, it sounds very complicated learning this languag since I am not a programmer.
Alain Verleyen
36058
Alain Verleyen  
doubleBB:

I thought there are many experienced traders who know the code and could help me.

That's not the problem. Are you an handyman ? I have some works to do in my house, I would like a experimented professional (or very good amateur) to do it for me.

whroeder1
17943
whroeder1  
doubleBB I would like to have an initial s/l of 1% of the equity.
SL is a price not a risk. Risk depends on your initial stop loss, lot size, and the value of the pair.
  • You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
  • Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
  • Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency (EUR, in this case).
              MODE_TICKVALUE is not reliable on non-fx instruments with many brokers.
  • You must normalize lots properly and check against min and max.
  • You must also check FreeMargin to avoid stop out
Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5=0.1 Lots maximum.
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