A framework to build and test systems, which use stop-Orders to enter a position. Pending orders and postions are handled based on a daily system. The entry logik (STP-value calculation) can be easily changed in the mqh-file.
Further features:
– risk management, enable/disable trailing stop
– money management, determine positions size depending on account profit
– kill pending orders at a dedicated time (hour)
– close positions after a dedicated duration since opening
– filter methods to be used for optimization (e.g. trade results for different days of the week)
– send significant equity changes via mail
Recommendations:
Optimize long and short parameters separatly (e.g. side=-1)
Start with a simple idea: e.g. place sell-stop at yesterdays low (sample in mqh-file)
Test and optimize with lotsize 0.1, without money- and risk management (maxLot=0.1). Advantage: Payoff in tester is scaled in pips
Begin testing with automatic close of position after 1hour or another duration/live time of position (closetimeperiod = 3600)
If your entry approach works, skip duration based close of position and optimize risk management parameters (SL, TP, SLslope)
Test if your system is stable on dedicated days of the week: E.g. set dayfilter to 1 – only on mondays stp-entry orders are placed.
Finally test money management (maxLot, PercentOfProfit)
externdouble SL          = 8;    // StopLoss in Basepoints: 1/10000 or 100/10000 = 1/100 for JPYexterndouble TP          = 20.5; // TakeProfit in Basepointsexterndouble SLslope      = 0.8;  // Trailing stop uses only a part [e.g. 0.8] of the reached trade profit.
                                  // If > 1.0 trailing stops are deactivatedexternint side            = -1;  // LONG = 1, SHORT = -1, place orders in both directions: 0externint PercentOfProfit = 30;  // Risk [in %] of already reached Profit in Account,
                                  // used to calculate position sizeexterndouble MaxLot      = 10.0; // maximal lot for tradingexternint dayfilter      = 7;    // place pending oders alldays = 7 or only on dayofweek 1 (monday)...5 (friday)
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