Open Buy
Info
The Open Buy is a Script for MetaTrader 4 that set the interest (from 0 to 100) - percentage of free margin allocated for opening a position. This determines the minimum lot allowed for trading, and the position is opened using a multiple of that value.
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 Open Buy
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
Set the interest (from 0 to 100) - percentage of free margin allocated for opening a position.
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: Watchlist Chart Opener MT4 - another powerful script for MetaTrader 4 traders.
Set the interest (from 0 to 100) - percentage of free margin allocated for opening a position. This determines the minimum lot allowed for trading, and the position is opened using a multiple of that value. When interest=0, the position will be opened with the minimum lot. Attention! Currently, the script correctly calculates the values only for the 'correct' currency pairs of USD and USD (EURUSD, GBPUSD, USDCHF, ...). For other pairs, the calculation is performed 'strictly by eye', however, just like in virtually all other scripts, indicators, experts...Also recommended: In/Out Strategy: Profitable Trading on Session Open - similar script with strong performance on MetaTrader 4.
You may also like: Open Market Orders Script - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property show_inputs //
extern int interest = 100; // freemargin :
extern int distsl = 35; // sl
extern int disttp = 35; // tp
extern int slippage = 5; //
extern bool stoploss = true; //
extern bool takeprofit = true; //
void start() .......
⚠ 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.