The minimum profit can be set as an external variable and configured in the EA options:
Introduction
Most EAs tend to close orders in take profit based on
the distance in pips from the purchase price . However, the code used by EA SwingBot is based mainly on the current profit . This
approach allows you to easily manage the take profit with multiple open
positions, monitoring the total current profit based on the magic number, in
case you use multiple bot instances or different EAs simultaneously .
Using this code can also have a positive impact on
some problems that may occur when using a take profit based on pips. For
example, a pip-based take profit could change depending on the slippage of your
broker, limiting profits . By using a code based on current profit, you can
avoid this issue and have more control over your trades.
If you want to learn more about how to set up a take
profit based on current profit, you can use the code of EA SwingBot as a
reference.
…
Total
orders
Let's start with the code that calculates the total
number of open orders with the same magic number.
The magic number is a unique identifier assigned to an
order by the trader or an EA (Expert Advisor).
The code initializes a variable total_orders to
zero. It then loops through all the open orders using a for loop and
selects each order using the OrderSelect() function. If
an order is successfully selected, it increments the total_orders variable
by one.
//-----------------
int total_orders = 0;
for(int i = 0; i < OrdersTotal(); i++)
{
if(OrderSelect(i,
SELECT_BY_POS, MODE_TRADES))
{
if(OrderMagicNumber() == MagicNumber)
{
total_orders++;
}
}
}
…
Calculating
Current Profit
The code initializes two variables: ProfittoMinimo and Profit.
The variable ProfittoMinimo is used to activate the take
profit at this level, the value is expressed in the currency of the
account. The variable Profit is used to accumulate the current
profit of all open positions that have the same magic number. The
variable StopLoss is used for the stop loss.
The code uses a for loop to iterate through
all open positions using the OrdersTotal() function. For each
open position, the corresponding order is selected using the OrderSelect() function. If
the order is successfully selected and has the same magic number, the profit of
the order is added to the Profit variable.
double ProfittoMinimo = 3; // target profit
double Profit = 0; // current profit
for(int i=0; i<OrdersTotal();
i++)
{
if(OrderSelect(i,
SELECT_BY_POS, MODE_TRADES))
{
if(OrderMagicNumber() == MagicNumber) // In case of
multiple EAs, you can remove the MagicNumber filter to maintain the function on
the total orders
{
Profit += OrderProfit();
}
}
}
…
Closing
positions if the Profit is reached
The code uses a for loop to iterate through
all open orders using the OrdersTotal() function. The loop
starts from the last order and goes up to the first order. For each order,
the corresponding trade is selected using the OrderSelect() function.
If the selected trade has the same symbol as the
current chart, is of type OP_BUY, and has the same magic number as
specified in the code, it checks if the Profit of the trade is
greater than or equal to ProfittoMinimo. If it is, it closes
the trade at the bid price using the OrderClose() function and
prints a message indicating that the buy order has been closed.
Similarly, if the selected trade has the same symbol
as the current chart, is of type OP_SELL, and has the same magic
number as specified in the code, it checks if the Profit of
the trade is greater than or equal to ProfittoMinimo. If it
is, it closes the trade at the ask price using the OrderClose() function
and prints a message indicating that the sell order has been closed.
for(int e = OrdersTotal() - 1; e >= 0; e--)
{
if(OrderSelect(e,
SELECT_BY_POS, MODE_TRADES))
{
if(OrderSymbol()
== Symbol() && OrderType() ==
OP_BUY && OrderMagicNumber() == MagicNumber) // l’ordine viene
modificato solo se il MagicNumber corrisponde a quello dell’ordine in corso.
{
if(Profit >= ProfittoMinimo)
{
OrderClose(OrderTicket(),
OrderLots(), ND(OrderClosePrice()), 3); // Bid price
Print("Buy order closed", Profit, " -
Stoploss minimo: ",MarketInfo(Symbol(),
MODE_STOPLEVEL));
}
}
if(OrderSymbol() == Symbol() && OrderType() == OP_SELL &&
OrderMagicNumber() == MagicNumber)
{
if(Profit >= ProfittoMinimo)
{
OrderClose(OrderTicket(),
OrderLots(), ND(OrderClosePrice()), 3); // Ask price
Print("Sell order closed", Profit, " -
Stoploss minimo: ",MarketInfo(Symbol(),
MODE_STOPLEVEL));
}
}
}
}
…
Conclusion
This code could be useful for all those
position-closing strategies based on take profit, but it could also be combined
with a trailing stop based on the increase in current profit. The system is
also useful in case of multiple Expert Advisors. If you exclude the if condition
on the MagicNumber, you can set general take profit levels to simultaneously
control all open positions from all active EAs
