Mastering the Cheduecoglioni EA for MetaTrader 5: A Trader's Guide

Author of the Idea: ef91 (check out the discussion here).

MQL5 Code Author: Vladimir Karputov.

The Cheduecoglioni EA is designed to manage trades efficiently. It waits for either a take profit (TP) or stop loss (SL) to be triggered before opening a position in the opposite direction. Before executing a trade request, it checks for sufficient funds using the OnTradeTransaction function.

For instance, if you have an open Buy position, once the TP or SL is hit, the EA will open a new Sell position, and subsequently, when the TP or SL on that position is triggered, it will open another Buy position.

Here's a closer look at how the deal closure is monitored in the OnTradeTransaction function:

//+------------------------------------------------------------------+
//| TradeTransaction function                                         |
//+------------------------------------------------------------------+
void OnTradeTransaction(const MqlTradeTransaction &trans,
                        const MqlTradeRequest &request,
                        const MqlTradeResult &result)
  {
//--- get transaction type as enumeration value
    ENUM_TRADE_TRANSACTION_TYPE type=trans.type;
//--- if transaction is result of addition of the transaction in history
    if(type==TRADE_TRANSACTION_DEAL_ADD)
    {
      long deal_entry=0;
      long deal_type=0;
      string deal_symbol="";
      long deal_magic=0;
      long deal_time=0;
      if(HistoryDealSelect(trans.deal))
        {
        deal_entry=HistoryDealGetInteger(trans.deal,DEAL_ENTRY);
        deal_type=HistoryDealGetInteger(trans.deal,DEAL_TYPE);
        deal_symbol=HistoryDealGetString(trans.deal,DEAL_SYMBOL);
        deal_magic=HistoryDealGetInteger(trans.deal,DEAL_MAGIC);
        deal_time=HistoryDealGetInteger(trans.deal,DEAL_TIME);
        }
      else
        return;
      if(deal_symbol==m_symbol.Name() && deal_magic==m_magic)
        {
        if(deal_entry==DEAL_ENTRY_OUT)
          {
            if(deal_type==DEAL_TYPE_BUY || deal_type==DEAL_TYPE_SELL)
              {
                if(deal_type==DEAL_TYPE_BUY)
                  m_close_pos_type=POSITION_TYPE_SELL;
                else if(deal_type==DEAL_TYPE_SELL)
                  m_close_pos_type=POSITION_TYPE_BUY;
                else
                  return;
              m_is_trade=true;
          }
      }
      else if(deal_entry==DEAL_ENTRY_IN)
      {
          m_is_trade=false;
      }
    }
  }

Before sending an order, check the volume (let’s say we’re opening a Buy position):

//+------------------------------------------------------------------+
//| Open Buy position                                               |
//+------------------------------------------------------------------+
void OpenBuy(double sl,double tp)
  {
    sl=m_symbol.NormalizePrice(sl);
    tp=m_symbol.NormalizePrice(tp);

//--- check volume before OrderSend to avoid "not enough money" error (CTrade)
    double check_volume_lot=m_trade.CheckVolume(m_symbol.Name(),InpLots,m_symbol.Ask(),ORDER_TYPE_BUY);

    if(check_volume_lot!=0.0)
    {
      if(check_volume_lot>=InpLots)
        {
        if(m_trade.Buy(InpLots,NULL,m_symbol.Ask(),sl,tp))
          {
            if(m_trade.ResultDeal()==0)
              {
               Print("Buy -> false. Result Retcode: ",m_trade.ResultRetcode(),
                 ", description of result: ",m_trade.ResultRetcodeDescription());
              }
              else
              {
               Print("Buy -> true. Result Retcode: ",m_trade.ResultRetcode(),
                 ", description of result: ",m_trade.ResultRetcodeDescription());
              }
      } 
      else
      {
         Print("Buy -> false. Result Retcode: ",m_trade.ResultRetcode(),
                 ", description of result: ",m_trade.ResultRetcodeDescription());
      } 
    }
    else
    {
      m_is_trade=false;
    }
    }
    else
    {
      m_is_trade=false;
    }
//---
  }

So, that’s a brief rundown of the Cheduecoglioni EA and how it operates within MetaTrader 5. If you’re looking to implement this strategy, be sure to monitor your trade transactions closely and always check your volume before placing orders!