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Scripts for Opening Short Positions
Info
The Scripts for Opening Short Positions is a Script for MetaTrader 5 that these scripts facilitate selling with predetermined stop loss and take profit values, measured in points from the current price. The scripts are categorized into two groups:The first group is designed for brokers with nonzero spreads, allowing simultaneous placement of stop loss and take profit orders during a transaction.
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 Scripts for Opening Short Positions
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
These scripts facilitate selling with predetermined stop loss and take profit values, measured in points from the current price.
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: Opening Long Positions with MetaTrader Scripts - another powerful script for MetaTrader 5 traders.
These scripts facilitate selling with predetermined stop loss and take profit values, measured in points from the current price. The scripts are categorized into two groups:Also recommended: ascending sort a struct array by a field example - similar script with strong performance on MetaTrader 5.
The first group is designed for brokers with nonzero spreads, allowing simultaneous placement of stop loss and take profit orders during a transaction.
The second group is intended for brokers with potential zero spreads, where it is advisable to set stop loss and take profit separately. These scripts initially open positions without orders and subsequently modify them by adjusting stop loss and take profit.
The first group includes opensellposition.mq5 and opensellposition_x.mq5, while the second group comprises opensellposition_ecn.mq5 and opensellposition_x_ecn.mq5, denoted by the 'ecn' suffix.
All scripts are tailored for selling with fixed stop loss and take profit values in points from the current price.
The opensellposition and opensellposition_ecn scripts offer a key benefit: the ability to manage deal volume based on the entire deposit. This is achieved through the mm (money management) script input parameter, which sets the equity volume rate for the deal as a proportion of the total deposit equity.
opensellposition and opensellposition_ecn scripts input parameters:
- Main advantage: Deal volume management based on deposit size.
- mm: Equity volume rate for the deal as a percentage of the total deposit equity.
The opensellposition_x and opensellposition_x_ecn scripts provide a distinct advantage: controlling potential losses when the stop loss is triggered, relative to the overall deposit. This is accomplished using the lossmm script input parameter, which defines the equity volume rate lost upon stop loss activation as a fraction of the total deposit equity.
opensellposition_x and opensellposition_x_ecn scripts input parameters:
- Main advantage: Loss control when stop loss is triggered, relative to deposit size.
- lossmm: Equity volume rate lost when stop loss is triggered as a percentage of the total deposit equity.
You may also like: subtract time - excellent alternative for script users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property script_show_inputs
input double lossmm=0.1; // losses from the balance when stop loss is triggered
input uint deviation=10; // price deviation
input uint stoploss=300; // stop loss in points from the current price
input uint takeprofit=800; // take profit in points from the current price
input uint rtotal=4; // number of retries when the deals are failed
input uint sleeptime=1; // pause time beetwen a retries in seconds.......
⚠ 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.