Coin Toss Trading
Info
The Coin Toss Trading is a Script for MetaTrader 5 that assumptions market conditions are indeterminable. Billions of factors are affecting market in different ways.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Coin Toss 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.
What this tool does
ASSUMPTIONS Market conditions are indeterminable.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Code To Check And Delete Chart Objects For MT5 - another powerful script for MetaTrader 5 traders.
ASSUMPTIONS
Market conditions are indeterminable. Billions of factors are affecting market in different ways.
Also recommended: Function for checking whether the market is open for trading at the moment by the current symbol - similar script with strong performance on MetaTrader 5.
At any instant evenly spaced upward or downward movements have same probability of occurence like in coin toss game.
USAGE
Double-Click or Drag-Drop on an active chart.
Script opens a buy or sell order randomly.
Volume and Exit Levels are determined by user inputs.
Use DeleteObjects to clear setup lines after closing order.
HOW TO WIN IN A TWO PROBABILITY GAME
Open order randomly. In equally spaced TP and SL you have 50% wining probability.
Until hitting SL, you will have chances to close order with smaller profits unless unluckily you catched the top/bottom.
To increase winning probability SL range should be greater than TP range.
In short term count of wins will be more than losses. In long term they will be equal. (Zero Sum Game)
You may also like: Programming Patterns - Decorator - excellent alternative for script users on MetaTrader 5.
⚠ 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.