Simple trade automation?

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I used to use metatrader4 when I was messing with Forex, but I have funds that I'd like to use out of my stock porfolio to trade one particuarl stock which goes up and down $1-2/day pretty much all the time. I'd like to set metatrader up to say, sell at a certain price, then buy at $2.00 lower, then sell again at $3.00 higher, etc. and just keep going. Is that a thing? I've looked at the humongous page of plugins and I have no idea where to begin. Any suggestions would be great!
 
FerdBerkle:
I used to use metatrader4 when I was messing with Forex, but I have funds that I'd like to use out of my stock porfolio to trade one particuarl stock which goes up and down $1-2/day pretty much all the time. I'd like to set metatrader up to say, sell at a certain price, then buy at $2.00 lower, then sell again at $3.00 higher, etc. and just keep going. Is that a thing? I've looked at the humongous page of plugins and I have no idea where to begin. Any suggestions would be great!

I coded a bracket EA some time ago that basically does this in MT5. I'm not sure exactly what you're trading in which platform though. CFD's? MT5?

This is the MT5 forum.

I'll post it if you want it...

 
Ryan L Johnson #:

I coded a bracket EA some time ago that basically does this in MT5. I'm not sure exactly what you're trading in which platform though. CFD's? MT5?

This is the MT5 forum.

I'll post it if you want it...


I haven't downloaded it yet, but I was thinking MT5, which is why I'm here. I would appreciate it greatly. I was thinking it would be a simple thing, but finding out how to do it doesn't seem to be!

 
FerdBerkle #:

I haven't downloaded it yet, but I was thinking MT5, which is why I'm here. I would appreciate it greatly. I was thinking it would be a simple thing, but finding out how to do it doesn't seem to be!

Here you go. The EA calls a custom indicator which is also attached. The brackets aren't progressive but could be edited to be progressive. It sends brackets of pending orders with stops.

Files:
Brackets_EA.mq5  22 kb
Brackets.mq5  30 kb
 
Ryan L Johnson #:

Here you go. The EA calls a custom indicator which is also attached. The brackets aren't progressive but could be edited to be progressive. It sends brackets of pending orders with stops.

Thank you! I am off to see if my broker allows MT5. Grok came back that a particular broker approved it's use but that broker has been purchased by my broker. So need to find out. I appreciate your help.

 
FerdBerkle #:

Thank you! I am off to see if my broker allows MT5. Grok came back that a particular broker approved it's use but that broker has been purchased by my broker. So need to find out. I appreciate your help.

You're welcome. FYI... I've never been able to find a real stockbroker in the U.S. that supports MT5 without the need to code an API. Also, stock-named CFD's (contracts for difference) are banned in the U.S.

Hope you find one. Good luck.

 
Ryan L Johnson #:

You're welcome. FYI... I've never been able to find a real stockbroker in the U.S. that supports MT5 without the need to code an API. Also, stock-named CFD's (contracts for difference) are banned in the U.S.

Interesting why is this?
There is one broker which I could seemingly join and it was outside of my jurisdiction. It was Australian based and I'm based in the EU. It dealt with skrill bank, and there was no limitations on leverage. I don't know if we can name brokers though

 
Conor Mcnamara #:

Interesting why is this?
There is one broker which I could seemingly join and it was outside of my jurisdiction. It was Australian based and I'm based in the EU. It dealt with skrill bank, and there was no limitations on leverage. I don't know if we can name brokers though

  1. Real stocks and futures on a centralized exchange generally require either the broker to provide a gatway for MT5 or the trader to program an API. Most brokers and traders are unable or unwilling to do this.
  2. CFD's are not stocks, futures, nor even interbank forex despite how CFD's are advertised. There is no centralized CFD exchange hence, the U.S. sees CFD's as fake instruments having no underlying assets.
  3. As I'm sure you're already aware, specific broker convo's are usually prohibited.
 
Ryan L Johnson #:

  1. Real stocks and futures on a centralized exchange generally require either the broker to provide a gatway for MT5 or the trader to program an API. Most brokers and traders are unable or unwilling to do this.
  2. CFD's are not stocks, futures, nor even interbank forex despite how CFD's are advertised. There is no centralized CFD exchange hence, the U.S. sees CFD's as fake instruments having no underlying assets.
  3. As I'm sure you're already aware, specific broker convo's are usually prohibited.

Are you saying that its nearly impossible to use mt 5 in USA? What are the best replacements for it in there?

 
Mobin Zarekar #:

Are you saying that its nearly impossible to use mt 5 in USA? What are the best replacements for it in there?

I'm saying that there are 2 licensed CME Futures MT5 brokers in the U.S. and maybe 5 or 6 licensed forex MT5 broker-dealers in the U.S. The 2 futures brokers maintain their own gateways. The forex broker-dealers simply have plain Metaquotes servers like most broker-dealers around the globe. This is the sum total of what I have found in the U.S.

As a caveat, any trader who is a "full stack" developer can write an API for MT5 that communicates with an exchange-based data feed and trade server. There is a free Python utility on GitHub that assists with doing so. But again, it requires further coding.

I wouldn't say "nearly impossible," but unlikely.

I really don't think I can promote replacements for MT5 without "advertising" which is prohibited here. Sorry.

 
Ryan L Johnson #:

I'm saying that there are 2 licensed CME Futures MT5 brokers in the U.S. and maybe 5 or 6 licensed forex MT5 broker-dealers in the U.S. The 2 futures brokers maintain their own gateways. The forex broker-dealers simply have plain Metaquotes servers like most broker-dealers around the globe. This is the sum total of what I have found in the U.S.

As a caveat, any trader who is a "full stack" developer can write an API for MT5 that communicates with an exchange-based data feed and trade server. There is a free Python utility on GitHub that assists with doing so. But again, it requires further coding.

I wouldn't say "nearly impossible," but unlikely.

I really don't think I can promote replacements for MT5 without "advertising" which is prohibited here. Sorry.

I'm not living in the US, and it was interesting to see that only a few brokers use MT5.

Wishing you all the best!

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