Stop close only orders

Stop close only orders

The script was created to be able to place a pending order type Stop Close Only. This type of orders includes the entrance to a long position in the case of closing prices above a given price level and the opening of a short position if the price closes below the set price the trader. Very often this type of orders is used for opening positions on exit rates from the horizontal channel.

In your script Stop Close Only There is a possibility of exhibiting both directed and countervailing orders, take profit and stop loss orders on them. The script provides the possibility of trailing earnings for a set period after the passage of a predetermined number of price points from the opening point of the position. input level control at the position of the stop loss and take profits can be carried out by moving the mouse the corresponding lines on the chart.

The script has money management unit. Default risk is 2% of the equity of the trading account. This means that if the trader did not install the settings lot size, and entrusted the task of the script, the script will automatically detect the size of the lot on the basis of the available balance of funds on the trading account and the remoteness of the stop loss from the entry point to a position so that the trader will not receive loss from the transaction is greater than 2% of the balance of the account. The trader can set the date and time of expiry of the activation of a script. 

Trade with the help of a script Stop Close Only as follows:

Open the window with the right tool at the right time frame. The MetaTrader 5 software interface to enable the “auto-trade“. Hot keys or by attaching to the chart to activate the script. In your script to set the necessary parameters.

  • Trading BUY positions – true means allow dinnye position, false – disable.
  • Trading SELL positions – true means allow short positions, false – disable.
  • Fixed Lot, 0.0 -% of risk – If this line is set to 0.0, the lot size is set automatically based on the size of the risk limits.
  • % Risk from equity of account – risk exposure, default is 2% of the account equity. 
  • method of setting levels – levels of installation method. 0 – script, 1 – external lines. The value of 0 is given the opportunity to control levels by moving their mouse lines.
  • Price SCO for Buy – Fill in a specific instrument price to enter the dinnuyu position in the event of closure of the above mentioned prices.  
  • Price SCO for Sell – Fill in a specific instrument price to enter short positions in case of closing below the specified price. 
  • Stop loss for BUY – setting stop loss level for long positions.
  • Take profit for BUY – level set take profit for long positions.
  • Stop loss for SELL – level set stop loss for short positions.
  • Take profit for SELL – level set take profit for short positions.
  • true – cancel, false – Date and Time  – Setting the date and the expiry of the activation time of the script.
  • 2013.08.21 00:10 – the date and time format of the expiration of the term of the activation of a script. 
  • pips for start of profit traling, 0 – no traling – the number of items to start trailing the profit. Default 100 points.
  • step for traling profit –  Step trailing earnings. Default 20 points.
  • Magic – magic number, default 1000.

Stop close only orders

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