Live Limit Order Script
Info
The Live Limit Order Script is a Script for MetaTrader 4 that this script is designed to streamline the process of placing limit orders, especially useful for pipsing and scalping strategies where quick decision-making is crucial. When executed, the script identifies a line with the label "go.
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 Live Limit Order Script
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 is designed to streamline the process of placing limit orders, especially useful for pipsing and scalping strategies where quick decision-making is crucial.
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: scripts for placing stop and limit orders - another powerful script for MetaTrader 4 traders.
This script is designed to streamline the process of placing limit orders, especially useful for pipsing and scalping strategies where quick decision-making is crucial.Also recommended: Limit Losses EA - similar script with strong performance on MetaTrader 4.
When executed, the script identifies a line with the label "go!" on the chart and places a limit order at that level. The order type (buy or sell) is determined by the line's position relative to the current price.
Key features:
- Lot size, maximum loss (stop loss), and profit/loss ratio are customizable in the script settings.
- The script automatically calculates stop loss and take profit values based on the instrument's characteristics.
Installation and usage:
- Download and open the script in MetaEditor.
- Edit the variables 'lots', 'moneyrisk', and 'profitloss' to suit your trading strategy.
- Save the script in the 'experts\scripts\' folder.
- Assign the script to a hotkey for quick execution.
- Create a line labeled "go!" on the chart to indicate the entry point.
To use multiple configurations, save different versions of the script with unique names and assign distinct hotkeys to each, allowing for varied lot sizes and risk parameters.
You may also like: multiple order stop limit - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
double lots = 0.1; //
double moneyrisk = 30; // ( )
double profitloss=3;//
double open_level, stop_level, profit_level;
double symbol_mode, symbol_tik_sise,symbol_tikk_value,symbol_lotsize,leverage_lev ;
double delta_stop;
int start()
{.......
⚠ 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.