Come Backer Trading
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This script functions as a utility program designed for specific, one-time execution tasks. It is utilized to perform targeted actions, such as closing all open orders, managing chart objects, or executing custom administrative commands on demand.
How to Setup and Use Come Backer Trading
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.
Description & Settings
Description
in an assumption that prices have a tendency to visit previous highs/lows frequently in short-term, this script determines the highest and the lowest prices for last x bars, if highest is the last it opens buy order otherwise it opens sell order.
default take-profit is highest for buy order, lowest for sell order. it can be expanded or shrinked by modifying additional profit input parameter. positive values for expansion, negative values for shrinking. be aware of limits.
default stop-loss is determined by profit/loss ratio input parameter. take-profit range divided by this ratio gives stop-loss. 2 means half of take-profit range, thus 2:1 profit/loss ratio.
Input Parameters
Bar Count: number of past bars to evaluate highest and lowest prices. highest/lowest price in past 20 bars.
Profit/Loss Ratio: stop-loss is calculated by dividing take-profit in pips by PL ratio. 2 means half of take-profit.
Additional Profit: expand or shrink take-profit other than highest/lowest by offseting.
Lots: lots.
Warning
script won't work correctly if you enter inputs out of limits.
script won't work correctly if current price is highest or lowest of past bars.
