is this Spread addition/Substraction from the actual desired entry reasoning is doable in metaTrader 5 ?

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I have a scalping strategy in small time frame 1 Min and below , and i always have the problem of the spread either opening the trade delayed or before the price , ( note that my price level entry is really important) 

what i was thinking about is to code something that will be Doing the following and let me know please if its doable and if my thinking is right   : 
i want to do s cript or Ea call it whatever that will create an entry point for me with my current desired entry value , and in order to fall into my real entry point : was thinking about diong something like this  : Executed  entry price = my current desired value  +/- Spread Amount .  - or + if im long or short ) .  so this way my entry will be always at the place where i wanted it to be instead of it   +  the spread .  same goes for Stop loss and Take profit  .

please let me know guys what do you think of this reasoning . cuz i really need it . 
 
Mill Pill: I have a scalping strategy in small time frame 1 Min and below , and i always have the problem of the spread either opening the trade delayed or before the price , ( note that my price level entry is really important) 

what i was thinking about is to code something that will be Doing the following and let me know please if its doable and if my thinking is right   :  i want to do s cript or Ea call it whatever that will create an entry point for me with my current desired entry value , and in order to fall into my real entry point : was thinking about diong something like this  : Executed  entry price = my current desired value  +/- Spread Amount .  - or + if im long or short ) .  so this way my entry will be always at the place where i wanted it to be instead of it   +  the spread .  same goes for Stop loss and Take profit  .  please let me know guys what do you think of this reasoning . cuz i really need it . 

Let me first certify that you are aware of the following concepts ...

  • A buy/long position opens at the Ask Price and closes at the Bid price.
  • A sell/short position opens at the Bid Price and closes at the Ask price.

Next, it is important to note that all chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

Given that you are scalping, I am assuming that besides monitoring the M1 chart, you are also monitoring the tick data chart (Alt-B) where both Ask and Bid prices are shown.

So, with all the above in mind, can you now explain what exactly it is you want to achieve and how exactly is the spread delaying your trade entry.

 
Fernando Carreiro #:

Let me first certify that you are aware of the following concepts ...

  • A buy/long position opens at the Ask Price and closes at the Bid price.
  • A sell/short position opens at the Bid Price and closes at the Ask price.

Next, it is important to note that all chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

Given that you are scalping, I am assuming that besides monitoring the M1 chart, you are also monitoring the tick data chart (Alt-B) where both Ask and Bid prices are shown.

So, with all the above in mind, can you now explain what exactly it is you want to achieve and how exactly is the spread delaying your trade entry.

Hello Fernando thanks for the reply ,  Basically , almost all times , same for the Entry or The Stop loss , the entry and the exit price , isnt at the exacte level i have on the chart ( the lines on meta trader ) .  and exacte price level are important for my winRate .  because sometimes the tarde doesnt open at all , or open for example with some offset from the Line i put on the chart . same goes for the Stop loss . and when scalping this is really destabilizing for my strategy . 

What i said in mind not sure if its correct , is that this offset that i have is Equal to the Spread .  so  was thinking for example if i can make the Entry Line ( price ) Dynamic  like following -->
  
i input to the script my desired entry Price level .    then the Entry will be dynamic like following for  buy entry for example :  Real Entry =  desired Entry price ( input ) +  Real Time Spread .    This will move my entry a bit higher than the desired entry price but the real entry price will be executed exactly at the level i want , cuz we are adding the Spread value to it . ???  doest it make sense  , and same for a sell entry   Real Entry  = Desired Entry Price( input ) - Real Time Spread .   

this way i will always have entry at the exact level i want . same goes for SL same logic . for tp i dont really care .  what do you think ? correct me if im wrong ? 

to illustarte this : this will show the entry Line price jiggling according to the Spread value on the chart . 
 
Fernando Carreiro #:

Let me first certify that you are aware of the following concepts ...

  • A buy/long position opens at the Ask Price and closes at the Bid price.
  • A sell/short position opens at the Bid Price and closes at the Ask price.

Next, it is important to note that all chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

Given that you are scalping, I am assuming that besides monitoring the M1 chart, you are also monitoring the tick data chart (Alt-B) where both Ask and Bid prices are shown.

So, with all the above in mind, can you now explain what exactly it is you want to achieve and how exactly is the spread delaying your trade entry.


And if you can think of a way to execute my Limit Orders and Stop orders close to my real desired entry without missing or having a big offsset that would be awesome .   cuz maybe im miss understanding the Spread meaning . ( in my mind its ASK PRICE - BID PRICE ) and thats what is causing the Delay on opening the orders . 
 
Mill Pill #: ...  because maybe I'm misunderstanding the Spread meaning. ( in my mind its ASK PRICE - BID PRICE ) and that's what is causing the Delay on opening the orders. 

From your text, it seems confirmed that you don’t really understand the following ...

  • A buy/long position opens at the Ask Price and closes at the Bid price.

  • A sell/short position opens at the Bid Price and closes at the Ask price.

  • All chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

Unless you fully understand the above, you will not be able to understand that your “desired” entry level is based only on Bid prices and is therefore not “real” for buy entries or sell exits. At least not in the sense of what you want it to be. Also, we have not even touched on the concept of slippage, which complicates matters even further.

Yes, an EA can be coded to achieve the requirement of approximating entries and exits to the desired prices (using Market orders and not Pending orders). I say approximately, because slippage will always influence the results.

However, until you fully understand the above concepts that I have outlined, you will not be able to properly define the requirements for the EA to be coded correctly.

 
Fernando Carreiro #:

From your text, it seems confirmed that you don’t really understand the following ...

  • A buy/long position opens at the Ask Price and closes at the Bid price.

  • A sell/short position opens at the Bid Price and closes at the Ask price.

  • All chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

Unless you fully understand the above, you will not be able to understand that your “desired” entry level is based only on Bid prices and is therefore not “real” for buy entries or sell exits. At least not in the sense of what you want it to be. Also, we have not even touched on the concept of slippage, which complicates matters even further.

Yes, an EA can be coded to achieve the requirement of approximating entries and exits to the desired prices (using Market orders and not Pending orders). I say approximately, because slippage will always influence the results.

However, until you fully understand the above concepts that I have outlined, you will not be able to properly define the requirements for the EA to be coded correctly.

Hello Fernando , thanks for clarifying and you're right now i understood what you said . and still didnt got what this : 

  • All chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

    However let me try to explain what i want to achieve lets take an example of. BUY scenario : 

     i would love to put multiple. Buy orders one after the other . and between each i will have an amount of Ofsset of course .  I tried with limit orders . but those cause a problem cause im trading ona. very low timeFrame . sometimes . those limit otders dont get trigerred at all while i can see the price and candle going over those LImit orders . 
    so what i want is a script that will place special limit orders . that will trigger at the closest possible price even above or a bit below the limit price i placed . ( it willl be like myself doing market orders but at the best price close to this limit orders doesnt matter if its below or above ) .  what's the best way to do this .  and same goes for the Stop loss . 

    can you help me or give me an idea other than limit Orders , something that will be more efficient for scalping in very short time frame + keep in mind that we are talking about many trades so i cant do this my self . 

"
 
Mill Pill #: Hello Fernando , thanks for clarifying and you're right now i understood what you said . and still didnt got what this : 

  • All chart data shows only Bid prices for the Open, High, Low and Close price for the bar.

    However let me try to explain what i want to achieve lets take an example of. BUY scenario : 

     i would love to put multiple. Buy orders one after the other . and between each i will have an amount of Ofsset of course .  I tried with limit orders . but those cause a problem cause im trading ona. very low timeFrame . sometimes . those limit otders dont get trigerred at all while i can see the price and candle going over those LImit orders . 
    so what i want is a script that will place special limit orders . that will trigger at the closest possible price even above or a bit below the limit price i placed . ( it willl be like myself doing market orders but at the best price close to this limit orders doesnt matter if its below or above ) .  what's the best way to do this .  and same goes for the Stop loss . 

    can you help me or give me an idea other than limit Orders , something that will be more efficient for scalping in very short time frame + keep in mind that we are talking about many trades so i cant do this my self .

As I have stated, an EA can be created using market orders (not pending orders), but only once you have properly defined it in very clear terms.

Such an EA has to be coded by someone with high coding skills and clear understanding of how to process the the price quotes and the trades at their proper entry and exit prices.

Judging from your words, I don't believe you will be able to code such an EA yourself, nor is it something that can be explained here in the forum with just a few posts.

You will have to recruit someone for the job either in the Freelance section or by some other means.

 
Fernando Carreiro #:

As I have stated, an EA can be created using market orders (not pending orders), but only once you have properly defined it in very clear terms.

Such an EA has to be coded by someone with high coding skills and clear understanding of how to process the the price quotes and the trades at their proper entry and exit prices.

Judging from your words, I don't believe you will be able to code such an EA yourself, nor is it something that can be explained here in the forum with just a few posts.

You will have to recruit someone for the job either in the Freelance section or by some other means.


Im already doing this to give the freelancer im hearing a clear explantation , can you help me please also explain a bit price quotes you just mentionned if possible  , and  i think you've got the idea i want to achieve ( basically best way to open and close automatically at the exacte price i want or at least around it with a small offsset , can you explain me the way how this will work in term of price what he will have to do to get that prices  ? 

 
Mill Pill #: Im already doing this to give the freelancer im hearing a clear explantation , can you help me please also explain a bit price quotes you just mentionned if possible  , and  i think you've got the idea i want to achieve ( basically best way to open and close automatically at the exacte price i want or at least around it with a small offsset , can you explain me the way how this will work in term of price what he will have to do to get that prices  ? 

If you already have a code developer working for you, then it is best that you discuss your requirements with them.

 

Don't dream of using the Limit order type to get a price advantage to build the perfect trading system.

Even if every executed Limit order gets a zero or even a positive slippage, that means your limit order has a price advantage on entry and exit, Limit orders also lose some trading opportunities over the long run of the entire trading system compared to other order types.

The amazing thing is that the profit from this very small number of trading opportunities can make up for the entry and exit price advantage that all your limit orders have worked so hard to accumulate.

The most amazing thing about this is that you can't predict in advance when these few seemingly "precious" trading opportunities will appear. After all, if you could predict, you wouldn't care about order types at all. 

 
Kang Feng #:

Don't dream of using the Limit order type to get a price advantage to build the perfect trading system.

Even if every executed Limit order gets a zero or even a positive slippage, that means your limit order has a price advantage on entry and exit, Limit orders also lose some trading opportunities over the long run of the entire trading system compared to other order types.

The amazing thing is that the profit from this very small number of trading opportunities can make up for the entry and exit price advantage that all your limit orders have worked so hard to accumulate.

The most amazing thing about this is that you can't predict in advance when these few seemingly "precious" trading opportunities will appear. After all, if you could predict, you wouldn't care about order types at all. 

and what do you suggest then ? whats the best way ? my developer is a bit amateur and i want to give him some idea , can you help please ? 

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