Hidden Stop Loss and Take Profit System
Info
The Hidden Stop Loss and Take Profit System is a Library for MetaTrader 4 that the provided files introduce a class system to simulate a hidden stop loss and take profit mechanism, while also establishing a live stop loss and take profit on the trade as a contingency for potential connection disruptions between the client and broker server. This system includes four example Expert Advisors (EAs), offering a basic operational overview:A class object is initialized with the necessary trade attributes.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Libraries folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Hidden Stop Loss and Take Profit System
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
The provided files introduce a class system to simulate a hidden stop loss and take profit mechanism, while also establishing a live stop loss and take profit on the trade as a contingency for potential connection disruptions between the client and broker server.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Library works on MetaTrader 4. Place the file in the MQL4/Libraries folder and restart the terminal.
Description & Settings
Related: Lot Size Calculation Based on Stop Loss and Risk Percentage - another powerful library for MetaTrader 4 traders.
The provided files introduce a class system to simulate a hidden stop loss and take profit mechanism, while also establishing a live stop loss and take profit on the trade as a contingency for potential connection disruptions between the client and broker server.Also recommended: Universal Trailing Stop Library for MetaTrader Expert Advisors - similar library with strong performance on MetaTrader 4.
This system includes four example Expert Advisors (EAs), offering a basic operational overview:
A class object is initialized with the necessary trade attributes.
The class provides functions akin to ordersend, ordermodify, and orderclose for trade initiation, closely resembling their standard counterparts.
The class records the hidden stop loss and hidden take profit.
The live spread is strategically selected to accommodate potential variations in spread for stop loss hunting, as well as changes in stop level and freeze level. It is recommended to record the spread, stop level, and freeze level over a week, calculating the difference between their minimum and maximum values. The live spread should exceed these differences.
To implement the system, follow these steps:
- Place globalchartfunctions, c_trade, c_trade_trailingstop loss, c_trade_steppedstop loss, and c_trade_pending in the include directory.
- Add c_trade_basicexample_1, c_trade_trailingstop loss_2, c_trade_steppedstop loss_3, and c_trade_pending_4 to the experts directory.
- If relocating files, adjust the include files accordingly.
- Compile the EAs and conduct thorough testing.
Note: This system has undergone basic testing but remains untested in a live trading environment. Exercise caution as bugs may be present. Further enhancements are planned for the future.
You may also like: Break Even and Trailing Stop Functions - excellent alternative for library users on MetaTrader 4.
Source Code
#include <c_trade.mqh>
#include <c_trade_pending.mqh>
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
input e_bs i_buyorsell=buy; //buy or sell
input int i_hiddenstoplossinpoints=5; //stoploss (points)
input int i_lowerpendingoffsetinpoints=15; //start of pending range (points)
input int i_upperpendingoffsetinpoints=35; //end of pending range (points).......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.