Creating the Easiest EA with the DeMarker Indicator for MetaTrader 4

Hey fellow traders! If you’ve ever considered using an Expert Advisor (EA) to enhance your trading strategy, you’re in the right place. Today, I’m sharing my experience with a straightforward EA that I’ve developed, which I think you’ll find super useful. After reading through, I’d love for you to share your thoughts!

This EA is designed to operate on a single currency pair and comes with customizable settings for timeframe, lot size, stop loss, and take profit, all easily accessible in the menu properties.

extern ENUM_TIMEFRAMES TF = PERIOD_CURRENT;// Select Time Frame
extern int period = 8;// Period DeMarker
extern double lt = 0.01;// Lots
extern int sl = 100;// Stop Loss
extern int tp = 100;// Take Profit
extern double OB = 0.7;// Over Sold
extern double OS = 0.3;// Over Bought
extern bool OPENBAR = false;// Trading on new bar open price

Now, here’s a little secret: I break down the EA into three key parts:

Data | Timeframe
Order Management
Currency Pair

//+------------------------------------------------------------------+

//-- Time frame | Indicator
double dmrk[5];
int signal = -1;//-- 0.buy 1.sell
int hold = 0;

//-- Order Management
int ticket = 0;
double lot = 0.0;
int typ = -1;

//-- Currency Pair
datetime t1 = 0;
bool newbar = false;
bool entry = false;

//+------------------------------------------------------------------+

In the OnInit() function, I set up the DeMarker indicator and check for the minimum lot size required by the broker. Here’s how it works:

//+------------------------------------------------------------------+
//| Initialization
void OnInit()
  {
   ArrayInitialize(dmrk,0.0);
  //---
      const double test_lot = SymbolInfoDouble(Symbol(),SYMBOL_VOLUME_MIN);
      if(lt < test_lot) lt = test_lot;
  }

Now, let’s dive into the OnTick() function, where we calculate the DeMarker indicator and identify our buy and sell signals:

//---------------------------------------------------------------------------
   signal = -1;
//---------------------------------------------------------------------------

//--- Calculate
   for(int i = 0; i < ArraySize(dmrk); i++)
     {
      dmrk[i] = iDeMarker(Symbol(), TF, period, i);
     }
//---

   if(dmrk[1] > OB)
     {
      hold = 1;// Set hold
     }
   else
      if(dmrk[1] < OS)
        {
         hold = -1;// Set hold
        }
      else
        {
         hold = 0;// Reset hold
        }

   if(hold == 1)
     {
      if(dmrk[0] < OB && dmrk[1] > OB)
        {
           signal = OP_SELL;
        }
     }
   if(hold == -1)
     {
      if(dmrk[0] > OS && dmrk[1] < OS)
        {
           signal = OP_BUY;
        }
     }

To execute buy and sell orders, we use the following logic:

//---------------------------------------------------------------------------
   if(signal != -1)
      if(newbar == true)
         if(entry == false)// Door open
           {
            //---
            entry = true;// Set entry
            //---

            if(signal == OP_BUY)
              {
              ticket = OrderSend(Symbol(), OP_BUY, lt, Ask, (int)((Ask - Bid) / Point,
                      sl > 0? Bid - sl * Point: 0.0,
                      tp > 0? Bid + tp * Point: 0.0,
                      EAName + ":signal= " + IntegerToString(signal) + ":hold= " + IntegerToString(hold),
                      EANumber,
                      0,
                      clrBlue);
               signal = -1;
              //hold = 0;
              }// Reset
            else
              if(signal == OP_SELL)
                 {
                  ticket = OrderSend(Symbol(), OP_SELL, lt, Bid, (int)((Ask - Bid) / Point,
                      sl > 0? Ask + sl * Point: 0.0,
                      tp > 0? Ask - tp * Point: 0.0,
                      EAName + ":signal= " + IntegerToString(signal) + ":hold= " + IntegerToString(hold),
                      EANumber,
                      0,
                      clrRed);
                  signal = -1;
                  //hold = 0;
                  }// Reset signal

          }

And when it comes to closing orders...

   if(entry == true) // Closing
     {

      if(OrderSelect(ticket, SELECT_BY_TICKET))
        {
         if(OrderCloseTime() == 0)//-- Order is active
           {
            /* Condition to close */
            //entry = false;
           }
         // Else
            if(OrderCloseTime() != 0)//-- Close by manual, SL/TP, or EA
              {
               entry = false;// Reset entry
              }
        }
     }

Creating the Easiest EA with the DeMarker Indicator for MetaTrader 4

연관 포스트