metatrader 4 ktm scripts and indicators for scalping · indicator: k2m_avg_price_v_1_0 8 scripts...

Version: January 2018

MetaTrader 4

KTM Scripts and Indicators

For Scalping

Trading at your side KEYTOMARKETS.COM

2 All trading involves risk. Losses can exceed deposits. Please, read the risk warning.

Contents of this Guide

Script installation, indicators and EAs for the MT4 platform 2

Installation 3

Script 1: K2M_Close_All_Open_Positions 4

Script 2: K2M_Close_All_Open_Positions_Symbol 5

Script 3: K2M_Closeby_all 6

Script 4: K2M_Closeby_all_Symbol 7

Indicator: K2M_Avg_Price_v_1_0 8

Scripts and Indicators Installation for the MT4 platform

In this guide, we will show how to install and use four different scripts and an indicator that can be

useful for manual trading and in particular for scalping. The first two scripts can close a series of

open positions with a single command instead of closing trades one by one. Other two scripts can

close positions of opposite direction ("hedging") on the same symbol and at the same moment. For

example, imagine that you have five long positions EURUSD one lot each, the fastest way to close is

to short five lots and then use script 3 or 4 as appropriate.

The indicator "K2M_Avg_Price" visually identifies the average price of your open positions by

drawing a horizontal line on the chart. Works for one direction only sell/buy.

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Installation

Let us move on to practice: from the MT4 main menu click on "Open data folder"

From the installation directory click on the MQL4 folder

Then click on Script, Indicators or Experts depending on whether you install a Script, an Indicator or

an Expert Advisor and insert the files of .mq4 and .ex4 format (in some cases only the .ex4 file is

available)

From the MT4 Navigator panel, right-click on Scripts, Indicators or Expert Advisor depending on

whether it was set to a Script, Indicator or Expert and click on “Update”.






Script 1: K2M_Close_All_Open_Positions

WE RECOMMEND TESTING THE SCRIPT IN THE DEMO ENVIRONMENT. IT IS ESSENTIAL TO ACTIVATE THE AUTOTRADING FUNCTION FROM THE BUTTON PRESENT AT THE TOP OF PLATFORM MENU

This script closes all open positions of ALL SYMBOLS.

Example: consider the following exposure of three open trades:

Drag the script onto any graph to activate it:

Confirm by clicking on Yes to close all positions:






Script 2: K2M_Close_All_Open_Positions_Symbol


This script closes all positions of the SYMBOL when you drag it on its chart.

Example: consider the following exposure of three open trades:

Drag the script onto EURUSD chart to activate it:

Confirm by clicking on Yes to close all open trades of EURUSD currency pair:






Script 3: K2M_Closeby_all


This script simultaneously closes all hedged long and short positions taking into consideration the

position sizes:

Drag the script to any graph and this window will appear:

Confirm by clicking on Yes to close all hedged open positions on all symbols.






Script 4: K2M_Closeby_all_Symbol


This script simultaneously closes all hedged long and short positions of a particular SYMBOL taking

into consideration the position sizes. It can potentially close parts of open positions starting from the

largest size.

Drag the script on GBPJPY chart to activate it:

Confirm by clicking “Yes” to offset all open positions on GBPJPY:






Indicator: K2M_Avg_Price_v_1_0


This indicator allows you to identify the Medium / Break-even of open positions on a certain symbol.

Drag the K2M_Avg_Price_v_1_0 indicator on the chart to activate it and click “OK”:

After the indicator has been applied, it will appear on the graph as follows:

The indicator is composed of a horizontal line that can assume different colours depending on the

direction (buy / sell) of the overall net position:

• Blue when the overall net position is long

• Red when the total net position is short

• White when the overall position is perfectly hedged on volumes (the sum of buy and sell

positions equals zero)

In addition to the horizontal line, numerical information is provided on the screen to make it easier

to read your net position as:






• Distance in pips compared to the break-even price (draw)

• Profit / loss of the net position expressed in the currency of the deposit

• Net number of lots: defined as the algebraic sum of the buy (+) and sell lots (-)

• Total number of trades.

The index takes into account the commissions paid for the breakeven and profit / loss calculation.

The calculation is made by taking the bid price as a reference. When placing any pending buy-to-

even orders, the market spread must always be taken into account.




metatrader 4 ktm scripts and indicators for scalping · indicator: k2m_avg_price_v_1_0 8 scripts...

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