script for calculating mae, mfe, and drawdowns on forex securities
Info
The script for calculating mae, mfe, and drawdowns on forex securities is a Script for MetaTrader 4 that this script calculates the characteristics of maximum adverse excursion (mae), maximum favorable excursion (mfe), and drawdowns on equity for forex securities. it does not consider swaps in its calculations.
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 script for calculating mae, mfe, and drawdowns on forex securities
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
this script calculates the characteristics of maximum adverse excursion (mae), maximum favorable excursion (mfe), and drawdowns on equity for forex securities.
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: script to close all orders - another powerful script for MetaTrader 4 traders.
this script calculates the characteristics of maximum adverse excursion (mae), maximum favorable excursion (mfe), and drawdowns on equity for forex securities. it does not consider swaps in its calculations.Also recommended: automated market order execution script - similar script with strong performance on MetaTrader 4.
drawdowns are calculated conservatively, slightly larger than actual, by considering only the worst-case scenarios. to use this script, ensure you have one-minute historical data for each currency pair.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#define op_balance 6
#define op_credit 7
#define statparameters 8
#property show_inputs
#property strict
extern int maxtimemissed=15; // max allowed gap in loaded m1 history
bool setmaeandmfe(double &mfe_array[],double &mae_array[],const int &ticketsarray[])
{.......
⚠ 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.