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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Utilitaires
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Utilitaires
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Juvenille Emperor Limited
5 (3)
Utilitaires
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Utilitaires
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Mohd Khairol Amin Ramli
Utilitaires
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Utilitaires
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Utilitaires
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Jetaroon Sriboonruang
Indicateurs
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Jetaroon Sriboonruang
Indicateurs
Aurum Retest is a chart-based MetaTrader 5 indicator for traders who prefer to wait for price to return to a defined reaction area instead of chasing an active move. HOW IT WORKS The indicator builds a dynamic 0.382-0.618 zone from the selected analysis range. A setup is considered only after price moves through the zone, returns to its boundary and produces a rejection. Buy and sell arrows summarize the resulting setup directly on the chart. WHAT YOU GET - Dynamic 0.382 and 0.618 reaction z
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