In/Out Strategy: Profitable Trading on Session Open
Info
The In/Out Strategy: Profitable Trading on Session Open is a Script for MetaTrader 4 that strategyat the start of a trading session, such as the american session, price movement is typical. The direction of this movement is not critical for this strategy.
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 In/Out Strategy: Profitable Trading on Session Open
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
StrategyAt the start of a trading session, such as the American session, price movement is typical.
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: mm % volatility - another powerful script for MetaTrader 4 traders.
StrategyAt the start of a trading session, such as the American session, price movement is typical. The direction of this movement is not critical for this strategy. An initial position is opened randomly (e.g., a sell order). The goal is for the price to move in either direction by a specified number of points to achieve the predefined profit target, profitclose (in deposit currency).
Also recommended: vr system test - similar script with strong performance on MetaTrader 4.
Expert Advisor Operation
The Expert Advisor (EA) can open a sell position within a specified time frame from timestart to timeend, or it can wait for a manual position to be opened (by setting timestart = timeend).
The EA's primary function is to close the entire series of trades profitably. If the last opened position reaches a predefined loss level, set by the 'loss' parameter, a counter-position is opened with an increased lot size. Once the total profit reaches the profitclose target, all open positions are closed.
This mechanism allows for daily profit accumulation as defined by the profitclose parameter.
External Parameters:
profitclose: 0.5 - The profit target in deposit currency to close all positions.
loss: 10 - The maximum allowable loss before opening a counter-position.
k_lot: 2.0 - The lot multiplier for counter-positions.
slippage: 3 - Maximum allowable price deviation for market orders.
magic: 0 - A unique identifier for EA orders.
lot: 0.1 - The initial lot size for trades.
timestart_1: 10, timeend_1: 12 - First trading time window (hours).
timestart_2: 15, timeend_2: 18 - Second trading time window (hours).
Trading Signals:
Test Results:
Happy Trading!
You may also like: Скрипт для закрытия встречных ордеров - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
extern double ProfitClose = 0.5; //закрывать все при получении профита
extern int Loss = 10;.......
⚠ 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.