Trading Functions Library
Info
The Trading Functions Library is a Library for MetaTrader 4 that a comprehensive library of trading functions, including position sizing, opening and closing positions, and more. Derived from the expert advisors 'Ocean Breeze' and 'Grainlo-Pro', this library offers a valuable resource for novice traders, demonstrating best practices for handling various trading scenarios.
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 Trading Functions Library
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
A comprehensive library of trading functions, including position sizing, opening and closing positions, and more.
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: BB MA C D Functions - another powerful library for MetaTrader 4 traders.
A comprehensive library of trading functions, including position sizing, opening and closing positions, and more. Derived from the expert advisors 'Ocean Breeze' and 'Grainlo-Pro', this library offers a valuable resource for novice traders, demonstrating best practices for handling various trading scenarios.Also recommended: Custom Functions: iacfunc, iaofunc, and ibearsbullsfuncs - similar library with strong performance on MetaTrader 4.
One of its key features is the calculation of position size based on a given risk percentage. This simplifies the trading process, eliminating the need to consider pips, lots, ticks, and other technicalities. It adopts a professional approach, ensuring compatibility with any financial instrument, irrespective of currency, leverage, lot digits, account currency, or broker.
The library has been extensively tested over several years, across multiple brokers, and on over 50 currency pairs and metals. Its reliability and versatility make it a valuable tool for traders, and its public domain status ensures accessibility for all.
Example:
- Position sizing based on risk percentage
- Opening and closing positions
- Compatibility with various financial instruments
- Extensive testing and proven reliability
You may also like: Time Filter for Trading Positions - excellent alternative for library users on MetaTrader 4.
Source Code
#property library
#include "stdlib.mq4"
#define trading_ok_level 0
#define trading_pos_size_less_min_lot (-100)
#define trading_error_not_enough_money (-200)
#define trading_error_opening_buy (-300)
#define trading_error_opening_sell (-400)
#define trading_error_closing_buy (-500)
#define trading_error_closing_sell (-600)
#define trading_error_buy_modify (-700).......
⚠ 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.