Pending Orders EA

Posts: 62 · #1 - January 19, 2019, 03:43:11 PM

Hi all,

As you probably know by my posts I'm a fan of grids and hedging, I'm wondering if anyone knows of a utility that would automatically place a stop/limit order at a set amount of pips upon me placing a market order.

Thanks.

Free Grid Trading EA:

Linkback: https://www.forex.zone/mt4-mt5-eas/7/pending-orders-ea/663/

Posts: 5117 · #2 - January 19, 2019, 04:39:44 PM

I'm sure there is something free online that would do this. It would take me too long to find compared to just coding something.

It sounds as if you will need an EA coded to do this.

Some questions:

1) Do you want a stop AND limit order to be placed? Or did you want either a stop OR limit order placed?

2) This will happen for any market order in the entire account? Or only for certain ones? If only certain ones, how should the EA know which ones?

3) This process will only happen once per market order?

Posts: 62 · #3 - January 19, 2019, 04:47:52 PM

Hi admin, thanks for the quick response.

My latest system requires an opposite pending limit order each time I place a market order. It's just once upon entry.

Posts: 5117 · #4 - January 19, 2019, 05:14:24 PM

If nobody uploads an EA for this soon, I will code one. I will test it live. So sometime after the new trading week starts.

Posts: 62 · #5 - January 19, 2019, 05:16:40 PM

Thank you very much.

Posts: 5117 · #6 - January 21, 2019, 01:18:42 AM

Here is the Pending Orders EA. I tested it live and it seemed to work well.

Note: A single Pending Orders EA needs running per account. It will consider all chart symbols in the entire account. You do not need to have a separate EA running for each chart symbol.

Posts: 742 · #7 - February 11, 2019, 06:33:59 AM

Quote from: Blanco on January 19, 2019, 03:43:11 PM

Hi all,

As you probably know by my posts I'm a fan of grids and hedging, I'm wondering if anyone knows of a utility that would automatically place a stop/limit order at a set amount of pips upon me placing a market order.

Thanks.

why do you have to put up a pending order while not knowing where the price will move, is there a good reason for this strategy

#8 - February 23, 2019, 03:57:19 AM

Quote from: Blanco on January 19, 2019, 03:43:11 PM

Hi all,

As you probably know by my posts I'm a fan of grids and hedging, I'm wondering if anyone knows of a utility that would automatically place a stop/limit order at a set amount of pips upon me placing a market order.

Thanks.

to determine where prices should be placed pending stop / limit orders, what is the basis of the analysis carried out to determine the pending price