opening long positions script for MetaTrader 5

These scripts are designed to buy with fixed values of Stop Loss and Take Profit in points from the current price. There are four variants of scripts which can be divided into two groups:

  1. Scripts for brokers which have nonzero spread and admit the ability to set Stop Loss and Take Profit simultaneously performing a deal;
  2. Scripts for brokers which may have zero spread, otherwise, it is not recommended to set Stop Loss and Take Profit simultaneously opening a position. At first, these scripts open positions without orders and then modify them changing Stop Loss and Take Profit.

The first group scripts are OpenBuyPosition.mq5 and OpenBuyPosition_X.mq5. The second group scripts have ending in the name of the ECN files. They are OpenBuyPosition_ECN.mq5 and OpenBuyPosition_X_ECN.mq5.

All scripts are designed to buy with fixed values of Stop Loss and Take Profit in points from the current price.

The main advantage of OpenBuyPosition and OpenBuyPosition_ECN scripts is the ability to fix deal’s volume depending on the size of the whole deposit using the MM (Money Management) script input parameter which defines equity volume rate participated in a deal to the whole deposit equity:

OpenBuyPosition and OpenBuyPosition_ECN scripts input parameters:

//+----------------------------------------------+
//| SCRIPT INPUT PARAMETERS                      |
//+----------------------------------------------+
input double  MM=0.1;       // Money Management
input int  DEVIATION=10;    // Price deviation
input int  STOPLOSS=300;    // Stop Loss in points from the current price
input int  TAKEPROFIT=800;  // Take Profit in points from the current price
input uint RTOTAL=4;        // The number of retries in unsuccessful deals
input uint SLEEPTIME=1;     // Pause time between retries in seconds

The main advantage of OpenBuyPosition_X and OpenBuyPosition_X_ECN scripts is the ability to fix deals’ losses when Stop Loss triggered depending on the whole deposit size using LossMM script input parameter which defines equity volume rate lost when Stop Loss triggered to the whole deposit equity:

OpenBuyPosition_X and OpenBuyPosition_X_ECN scripts input parameters:

//+----------------------------------------------+
//| SCRIPT INPUT PARAMETERS                      |
//+----------------------------------------------+
input double  LossMM=0.1;   // Losses from balance when Stop Loss 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;        // The number of retries in unsuccessful deals
input uint SLEEPTIME=1;     // Pause time between retries in seconds

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opening long positions script for MetaTrader 5

MT5 Forex Script Characteristics

Platform: Metatrader 5

Type: Script

Time frames: any.

How to install Screenshot Script in MetaTrader 5 / MT5:

Copy and paste the opening long positions script for MetaTrader 5.zip files into the MQL5 Scripts folder of the Metatrader 4 trading platform.

Restart your MetaTrader 5 application (assuming it’s currently open) … or Launch your MetaTrader 4 application

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Script (paste here)

On the left hand side, look for the “Navigator” window and under the “Common” tab, look into the “Scripts” section

Locate the indicator which you have just downloaded into the folder stated in Step 1

Drag (Click and drag) the Script onto the chart (when you want the task to be performed)

your task should now be executed…

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