Limit Orders Pro
Info
The Limit Orders Pro is a Script for MetaTrader 4 that this script offers efficient management of numerous pending orders in the market, featuring functions for placing, modifying, and deleting orders within a specified price range. Script capabilities:- Places a group of pending orders of a chosen type within a defined price range, evenly distributing them from the initial to the final price with a set point step.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Limit Orders Pro
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This script offers efficient management of numerous pending orders in the market, featuring functions for placing, modifying, and deleting orders within a specified price range.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: script to close all orders - another powerful script for MetaTrader 4 traders.
This script offers efficient management of numerous pending orders in the market, featuring functions for placing, modifying, and deleting orders within a specified price range.Also recommended: trailing stop for all orders - similar script with strong performance on MetaTrader 4.
Script capabilities:
- Places a group of pending orders of a chosen type within a defined price range, evenly distributing them from the initial to the final price with a set point step.
- Modifies take profit and/or stop loss for all pending orders simultaneously.
- Deletes all non-triggered orders in one action and provides the option to close or keep triggered orders.
Settings:
- Type of transaction:
- Buy: Place buy orders.
- Sell: Place sell orders.
- Modify: Adjust take profit and stop loss.
- Delete: Close pending orders.
- Lot: Lot size for opening pending orders.
- Price From: Starting price in the range.
- Price Up To: Ending price in the range.
- TakeProfit: Take profit (in points) for orders.
- StopLoss: Stop loss (in points) for orders.
- Step: Point distance between orders.
- Delete Active Orders: Delete or keep activated orders. True deletes activated orders; False saves them.
- Magic Number: Magic number for positions.
- Slippage: Slippage for opening and closing positions.
For additional features, please inquire.
You may also like: scripts for placing stop and limit orders - excellent alternative for script users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.