cm insurer: strategy for managing losing positions
Info
The cm insurer: strategy for managing losing positions is a Script for MetaTrader 4 that the expert advisor is designed to bring all losing positions to a breakeven or a net profit and close them. after closing all positions, the expert advisor does not place new orders; it waits for new losing positions to emerge, whether placed manually or by other expert advisors.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use cm insurer: strategy for managing losing positions
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
the expert advisor is designed to bring all losing positions to a breakeven or a net profit and close them.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: rsi and cci trading strategy - another powerful script for MetaTrader 4 traders.
the expert advisor is designed to bring all losing positions to a breakeven or a net profit and close them. after closing all positions, the expert advisor does not place new orders; it waits for new losing positions to emerge, whether placed manually or by other expert advisors.Also recommended: convert real tick data to strategy tester fxt files - similar script with strong performance on MetaTrader 4.
how the expert advisor works
the expert advisor places stop orders at a specified distance from the outermost orders, with a volume set in the settings. once these stop orders are triggered, the next stop order is placed in the trend direction, and so on. when the price moves consistently in one direction, a sufficient number of orders are opened sequentially in that direction to cover all losing orders in the opposite direction. upon achieving the total profit for all orders of a specific currency pair, the expert advisor closes the positions for that pair and waits.
parameters:
- percentprofitclose: 0.1; // close all orders when profit reaches this percentage of the deposit.
- lot: 5; // lot size for the insuring stop order.
- delta: 25; // distance to the stop order from the outermost position.
to hedge against sharp price swings, you can set the lot size significantly larger than the sum of all current orders. when the stop order is triggered, it will almost immediately cover all losses. for easier understanding of the expert advisor's operation in the tester, it initially opens a sell order with a lot size half of the specified parameter to demonstrate how it brings the account to profit. apply the expert advisor to a bullish trend in the tester to observe its performance.
You may also like: In/Out Strategy: Profitable Trading on Session Open - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.0"
#property description "Educational code - RobotFX www.robotfx.org"
#property strict
extern double PercentProfitClose = 0.1; //закрывать все ордера при получении профита в проценте от депозита
extern double Lot = 5; //лот страхующего стоп ордера
extern int delta = 25; //расстояние до стоп ордера от крайней позиции
int init()
{.......
⚠ 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.