Mastering Continuous Trend-Following: A Simple MT4 Strategy for Smart Traders

If you're looking to sharpen your trading game, this MetaTrader 4 (MT4) script is a gem. It's designed to help you effortlessly buy and sell based on a straightforward continuous trend-following strategy. Let's dive into the ins and outs of this script:

1. Initialization: The script kicks off by initializing itself and gives you a heads-up when it's ready to roll.

2. Deinitialization: When it's time to wrap things up, the script deinitializes and lets you know it’s done.

3. OnTick Function: This function comes into play with every new tick (price change) in the market.

   • Reset Position Tracking Variables: The script clears out any variables that track your open buy and sell positions.
   • Check Open Orders: It goes through all open orders to see if you've got any active buy or sell positions.
   • Open Buy Position: If there’s no active buy position and the "OpenBuyPosition" flag is set to true, it’ll try to open one using the current market bid price, complete with a stop loss and take profit set for good measure.
   • Open Sell Position: Similarly, if there’s no active sell position and the "OpenSellPosition" flag is true, it will attempt to open a sell order based on the current market ask price, also setting a stop loss and take profit.
   • Check Closed Orders: It keeps an eye out for any closed orders. If one of your buy or sell orders closes in the green, it’ll reset the corresponding position flag.

4. Input Parameters: You’ve got the flexibility here with input parameters for lot size, stop loss, take profit, and options to control whether to open buy or sell positions.

5. Disclaimer: A word of caution—this script comes with a warning. Use it at your own risk, as the creator isn’t responsible for any potential losses or damages.

In a nutshell, this script is all about automating your trading by executing buy and sell orders based on a solid trend-following strategy. You can customize parameters like lot size and trade direction to fit your style. Just remember to tread carefully and do your homework before you hit the live trading button!