Drag SLTP

There are lots of implementations of this idea. Why new?
Well, this EA uses absolutely new principle of object manipulation.
The principle is based on true Drag'n'Drop, implemented at pure MQL without using any system DLLs

What are the system DLLs responsible for and how can you leave them out if they are not needed?

Share

Facebook Twitter Print Pinterest Gmail Email App

About DragSLTP.mq4
https://mt4talk.com/viewtopic.php?pid=703#p703

This MT4 EA called DragSLTP helps you manage your Stop Loss (SL) and Take Profit (TP) levels for your forex trades automatically.
The EA allows you to set a maximum acceptable slippage for the price and the number of times to repeat orders opening if failed due to requoting.
You can customize the appearance of your SL and TP lines on your chart, choosing the color and style.
It provides options for confirming actions before execution.
You can choose to enable automatic SL and TP level adjustments based on your preferred points.
The EA constantly monitors your open orders and updates SL and TP levels accordingly.
You can easily drag and drop SL and TP lines on your chart to modify them as needed.

To use this EA download the "DragSLTP.mq4" file.
Open your MetaTrader 4 platform.
Go to "File" > "Open Data Folder" > "MQL4" > "Experts" and place the downloaded file there.
Restart your MetaTrader 4 platform.
Drag the "DragSLTP" EA onto your chart.

Adjustable Parameters:

Slippage: Recommended setting is 3.

Slippage is the maximum acceptable difference between the expected and actual price of an order. A setting of 3 ensures that orders will be executed even if the price slips by up to 3 pips from your intended entry.

TimesToRepeat: Suggested setting is 3.

This parameter determines how many times the EA will attempt to open an order if it fails due to requoting. Setting it to 3 allows the EA to make up to three attempts to open an order before giving up.

SL_Color and TP_Color: Customize to your preference.

These parameters allow you to choose the colors for your Stop Loss (SL) and Take Profit (TP) lines on the chart. Customize them to make them easily distinguishable and visually appealing.

SL_Style and TP_Style: Customize to your preference.

These parameters determine the line style for your SL and TP lines on the chart. You can choose the style that best suits your visual preferences.

ConfirmActions: Recommended setting is false.

When set to true, this parameter requires confirmation for actions (like modifying SL and TP levels) before execution. For a smoother automated experience, it's often best to leave it as false.

AutoSetSL: Suggested setting is true.

Enabling this option allows the EA to automatically adjust the Stop Loss (SL) based on the SLPoints parameter. It's convenient for hands-off management of SL levels.

SLPoints: Suggested setting is 300.

SLPoints sets the distance in points from the entry price to place the Stop Loss. A value of 300 means the SL will be placed 300 points (or pips) away from the entry price. Customize this based on your risk tolerance and trading strategy.

AutoSetTP: Recommended setting is false.

Enabling this option would automatically adjust the Take Profit (TP) based on the TPPoints parameter. For more control over your TP levels, it's often best to leave it as false.

TPPoints: Suggested setting is 30.

TPPoints specifies the distance in points from the entry price to place the Take Profit. A value of 30 means the TP will be placed 30 points (or pips) away from the entry price. Adjust this parameter to align with your trading strategy and profit targets.

If you want the DragSLTP EA to work at its absolute best, let's set the stage for success:

-Consider using it with major currency pairs like EUR/USD or GBP/USD. These pairs are more liquid and often have narrower spreads, making them ideal for automated trading.
-This EA tends to shine in relatively stable market conditions. When the forex market is not experiencing extreme volatility or sudden spikes, it can effectively manage your Stop Loss and Take Profit levels.
-Choose a time frame that matches your trading style. For longer-term trading, like swing trading, a 1-hour or 4-hour chart might be suitable. If you prefer shorter time frames and more frequent trades, 15-minute or 30-minute charts could work well.
-It's essential to have an appropriate account balance. For example, if you're using the EA with SLPoints set at 300, consider having a minimum balance of around $1,000 in your trading account. This ensures you have enough margin to accommodate potential losses.
-Keep an eye on the slippage in your chosen broker's execution. If slippage occurs frequently, you might want to adjust the Slippage parameter in the EA settings to match your broker's conditions.
-Even though this EA automates SL and TP management, it's crucial to keep an eye on your trades. Regularly check for any modifications made by the EA to ensure they align with your trading strategy.
-Tailor the EA settings to your specific trading strategy. For example, if you prefer more control over your SL and TP levels, you can disable the AutoSetSL and AutoSetTP options and manually set your preferred levels.

Remember, no EA guarantees profits, and the forex market can be unpredictable. It's a tool that can enhance your trading, but your overall success still depends on your strategy and decision-making.

Share

Facebook Twitter Print Pinterest Gmail Email App

About PSAR Trader EA (PSAR_trader(1).mq4)!
https://mt4talk.com/viewtopic.php?pid=703#p703

PSAR Trader EA operates with a simple strategy: When PSAR flips below the candlestick, it opens a Buy trade, and when PSAR flips above, it triggers a Sell trade.

Buy Signal: The EA checks if PSAR is below the current candlestick, indicating a potential uptrend.
Sell Signal: It checks if PSAR is above the candlestick, signaling a potential downtrend.
Time Filter: You can set a specific trading time range to optimize your strategy.
Take Profit and Stop Loss: Customize your desired profit and loss levels.
Lot Size: Adjust the trading volume as per your risk tolerance.
Close on Opposite Signal: Enable this option if you want to close your current trade when the opposite signal occurs.

Optimal Settings:

Currency Pair: EURUSD
Minimal Balance: $1,000
Time Frame: 1-Hour (H1)

Share

Facebook Twitter Print Pinterest Gmail Email App

About PSAR Trader EA (PSAR_trader(1).mq4)!
https://mt4talk.com/viewtopic.php?pid=703#p703

PSAR Trader EA operates with a simple strategy: When PSAR flips below the candlestick, it opens a Buy trade, and when PSAR flips above, it triggers a Sell trade.

Buy Signal: The EA checks if PSAR is below the current candlestick, indicating a potential uptrend.
Sell Signal: It checks if PSAR is above the candlestick, signaling a potential downtrend.
Time Filter: You can set a specific trading time range to optimize your strategy.
Take Profit and Stop Loss: Customize your desired profit and loss levels.
Lot Size: Adjust the trading volume as per your risk tolerance.
Close on Opposite Signal: Enable this option if you want to close your current trade when the opposite signal occurs.

Optimal Settings:

Currency Pair: EURUSD
Minimal Balance: $1,000
Time Frame: 1-Hour (H1)
Strategy Settings:

Take Profit: 50 pips
Stop Loss: 50 pips
Lot Size: 0.1
Slippage: 5 pips
Close on Opposite Signal: Enabled
Trading Hours: 24/7 (You can customize this)
Start small, monitor your progress, and consider adjusting parameters to fine-tune your strategy.

In my opinion, PSAR Trader EA works best under specific market conditions that favor its strategy.

Here's when you might see the most success with this EA:

*This EA thrives when currency pairs are in a clear and sustained uptrend or downtrend. It uses Parabolic SAR to identify these trends. So, keep an eye out for periods of strong, extended price movements.
*Moderate volatility is ideal. When the market is too calm, PSAR signals might be less reliable. On the other hand, extreme volatility can lead to erratic price movements that may not align well with the EA's strategy.
*Make sure to set the trading hours within the times when your chosen currency pair is most active and liquid. The 1-hour time frame (H1) is often suitable for intraday trading with this EA.
*It's crucial to have a solid risk management plan in place. While the default settings suggest a lot size of 0.1 and a stop loss of 50 pips, your risk tolerance and account size should guide these parameters. A larger account might allow you to use larger lot sizes.
*No EA is entirely set-and-forget. Regularly monitor its performance and be prepared to make adjustments as market conditions change. Consider optimizing parameters like stop loss, take profit, and trading hours based on your observations.
*Before deploying this EA in a live trading environment, backtest it thoroughly with historical data. This will give you insights into how it would have performed in the past under various market conditions.
*Consider using PSAR Trader EA as part of a broader trading strategy. Combine it with technical indicators or fundamental analysis to enhance your decision-making process.

Share

Facebook Twitter Print Pinterest Gmail Email App