Trade State Manager: Control EA Trading Modes by Time
Info
The Trade State Manager: Control EA Trading Modes by Time is a Library for MetaTrader 5 that have you ever needed to restrict your expert advisor's (ea) trading activities based on specific times. For instance, preventing trading during nighttime hours or closing all positions before market close or weekends, especially for derivatives trading on exchanges like the Moscow Exchange.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Trade State Manager: Control EA Trading Modes by Time
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
Have you ever needed to restrict your Expert Advisor's (EA) trading activities based on specific times.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: ATS Trade Management Library - Break-Even, Trailing Stop, and Partial Closes - another powerful library for MetaTrader 5 traders.
Have you ever needed to restrict your Expert Advisor's (EA) trading activities based on specific times? For instance, preventing trading during nighttime hours or closing all positions before market close or weekends, especially for derivatives trading on exchanges like the Moscow Exchange? Perhaps you require more complex scenarios, such as enabling an EA to open and close positions only until 7 PM, after which no new trades should be initiated. Such flexible configurations are achievable with the CTradeState special module.Also recommended: MQTT Five — MQTT 5.0 Client Library for MetaTrader 5 - similar library with strong performance on MetaTrader 5.
How CTradeState Works
The module returns one of six states, defined by the enum_trade_state structure. Within your Expert Advisor, you must implement actions that correspond to the specific state returned by CTradeState via the GetTradeState method.
Before utilizing these trade modes, they must be configured by calling the SetTradeState method. The prototype for SetTradeState is as follows:
For example, to configure the trade state module to return the trade_wait modifier (which halts control over opened positions and prevents new ones from opening) between 18:45 and 18:49 inclusive, you would call SetTradeState with the following parameters:
You can specify not only the start and end times for a trading mode but also the day of the week for which that mode is active. If a trading mode should apply every day of the week, use the all_days_of_week modifier. If the trading mode is intended for a specific day, set the day_of_week variable to one of the values from the system enumeration.
To retrieve the current trading mode, use the GetTradeState method.
Consider a combination of modes suitable for trading derivatives on the Moscow Exchange as an example:
Usage Example
This combination of modes can be set using the following sequence of SetTradeState calls (example provided as a script):
As a verification step, this script includes functionality to print the mode corresponding to a specific trading time.
It is crucial to understand that this module serves as an auxiliary tool. The ultimate decision to stop trading or close all positions must be made by the Expert Advisor itself. However, this module greatly simplifies the creation of diverse time zones and trading modes for any EA.
You may also like: asq session manager for metatrader 5 - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#define all_days_of_week 7
enum enum_trade_state
{
trade_buy_and_sell, // .
trade_buy_only, // . .
trade_sell_only, // . .
trade_stop, // . . .
trade_wait, // . . ........
⚠ 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.