Custom Logic For Trading Mini

Overview

Custom Logic for Trading Mini is the free version of Custom Logic for Trading that designed to execute trades based on custom indicator signals, with robust position management features with break-even settings. This script allows traders to implement their strategies with high precision and flexibility, enhancing their trading efficiency and profitability.

Input Parameters

Indicator Settings

  • indicator_name: Name of the custom indicator to be used for generating signals.
  • buy_signal: Signal value indicating a buy condition.
  • sell_signal: Signal value indicating a sell condition.

Position Sizing

  • lot_size: Size of the lot for each trade.
  • take_profit: Take profit level in points.
  • stop_loss: Stop loss level in points.
  • slippage: Maximum slippage allowed for order execution.

Trading Parameters

  • close_on_opposite: Boolean flag to close positions on opposite signals.
  • logic_direction: Trading logic direction (0 - Direct, 1 - Reversal).
  • trading_side: Side of trading to take (0 - Long only, 1 - Short only, 2 - Both).

Break-even Settings

  • enable_break_even: Boolean flag to enable or disable break-even functionality.
  • break_even_level: Profit level in points at which to move the stop loss to break-even.

Workflow

  1. Initialization: Configure the input parameters to tailor the bot to your specific trading strategy. Attach the script to the desired chart in MetaTrader 4.

  2. Signal Detection: The bot continuously monitors the custom indicator for buy and sell signals. It retrieves the signal using the iCustom function and evaluates it based on the configured buy_signal and sell_signal values.

  3. Trade Execution:

    • Long Positions: When a valid buy signal is detected, and all conditions are met (including filtering), the bot opens a buy position with the specified lot size, stop loss, and take profit.
    • Short Positions: Similarly, when a valid sell signal is detected, and conditions are satisfied, the bot opens a sell position.

  4. Position Management:

    • Close on Opposite Signal: If the close_on_opposite parameter is enabled, the bot closes positions when an opposite signal is detected.
    • Break-even: When the price reaches the specified break-even level, the bot adjusts the stop loss to the entry price to secure profits.

  5. Continuous Monitoring: The bot continuously monitors market conditions and updates positions as needed, ensuring that the trading strategy is executed consistently and efficiently.

Benefits

  • Automation: Automates the entire trading process, reducing the need for manual intervention.
  • Customization: Highly customizable input parameters to fit various trading strategies.
  • Robust Management: Advanced position management features to optimize trade outcomes.
  • Efficiency: Executes trades with precision, leveraging custom indicators and technical analysis.

Usage

  1. Setup: Configure the input parameters according to your trading strategy.
  2. Deployment: Attach the script to the desired chart in MetaTrader 4.
  3. Execution: The bot will automatically manage trading activities based on the configured logic and parameters.


Visit Full Version Product Here: https://www.mql5.com/en/market/product/119190



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5 (2)
Utilitaires
EchoTrade Telegram to MT5 Copier Seamless, Instant, and Reliable Signal Copying - Direct from Telegram to MetaTrader 4! The product does not run in the strategy tester but you can get free trial version   here  for testing before purchase. Tired of manually executing trades from Telegram signals? EchoTrade automates the process, instantly copying trades from any Telegram channel or group directly into your MT5 account—accurately, efficiently, and without delay. Key Features: Universal Compatib
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Alfiya Fazylova
4.71 (17)
Utilitaires
Grid Manual est un panneau de trading permettant de travailler avec une grille d'ordres. L'utilitaire est universel, possède des paramètres flexibles et une interface intuitive. Il fonctionne avec une grille d'ordres non seulement dans le sens des pertes, mais aussi dans le sens de l'augmentation des profits. Le commerçant n'a pas besoin de créer et de maintenir une grille d'ordres, l'utilitaire le fera. Il suffit d'ouvrir une ordre et "Grid Manual" créera automatiquement une grille de ordres po
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Trinh Dat
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Utilitaires
The product will copy all  Discord  signal   to MT4   ( which you are member  ) , also it can work as remote copier.  Easy to set up. Work with almost signal formats, support to translate other language to English Work with multi channel, multi MT4. Work with Image signal. Copy order instant, auto detect symbol. Work as remote copier: with signal have ticket number, it will copy exactly via ticket number. How to setup and guide: Let read all details about setup and download Discord To MetaTrader
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Dwi Nur Prasetyo
Utilitaires
TP Splitter Pro MT4 TP Splitter Pro MT4 is an advanced Expert Advisor (EA) designed to optimize your take-profit strategy by automatically placing copy trades with multiple TP levels. It ensures a structured exit plan while maximizing profits and managing risk efficiently. Unlike standard trade copiers, TP Splitter Pro MT4 only executes copy orders when the entry price is more favorable than the master order. It places sell orders at a higher price and buy orders at a lower price. With built-in
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Abdeljalil El Kedmiri
Utilitaires
The  MT4  EAs Manager   is a professional risk management and trade assistance tool designed to monitor, control, and optimize all trading activities on your MT5 account. It acts as a   central command center   that oversees every trade - whether opened by other Expert Advisors or manually by you. How it's work with other EAs :   Blog post  MT5 version :  https://www.mql5.com/en/market/product/166211 Only 10 copies will be sold at the early-bird price. After 10 copies, the price jumps directly t
Riskless Pyramid
Snapdragon Systems Ltd
5 (1)
Utilitaires
Introduction This powerful MT4 trade mangement EA offers a way potentially to aggressively multiply trade profits in a riskfree manner. Once a trade has been entered with a defined stoploss and take profit target then the EA will add three pyramid add-on trades in order to increase the overall level of profit. The user sets the total combined profit target to be gained if everything works out. This can be specified either as a multiple of the original trade profit or as a total dollar amount. Fo
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Fatemeh Ameri
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Utilitaires
Trade Dashboard simplifies how you open, manage, and control your trades, with built-in lot size calculation. It allows you to execute trades, manage risk, and control positions directly on the chart, with tools such as partial close, breakeven, and trailing stop. Designed to reduce manual work and help you stay focused on your trading decisions. A demo version is available for testing. Detailed explanations of features are provided within the MQL5 platform. Installation instructions are include
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Sofiia Butenko
Utilitaires
If you need an advisor on any arrow indicator signals - this utility will definitely help you.  You will be able, with the help of this utility to form an unlimited number of EAs on YOUR signals , with your set of settings, with your copyright and complete source code . You will be able to use the resulting EAs unlimitedly , including adding them to the Market and other resources. Free simple version of the generation script to help you understand how it works - here What does the utility do? 
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PZ TRADING SLU
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Utilitaires
Le Local Trade Copier EA est une solution pour les commerçants individuels ou les gestionnaires de compte qui ont besoin d'exécuter des signaux commerciaux à partir de sources externes ou qui ont besoin de gérer plusieurs comptes en même temps, sans avoir besoin d'un compte MAM ou PAMM. Il copie jusqu'à 8 comptes maîtres vers un nombre illimité de comptes esclaves [ Guide d'installation | Guide de mise à jour | Dépannage | FAQ | Tous les produits ] 100% auto-hébergé Facile à installer et à util
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5 (31)
Utilitaires
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Utilitaires
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