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 } } }
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