Open Two Market Orders in Opposite Directions
Info
The Open Two Market Orders in Opposite Directions is a Script for MetaTrader 4 that this script opens two market orders in opposite directions. The idea is that when trading news, the price often breaks out in one direction.
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 Open Two Market Orders in Opposite Directions
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 opens two market orders in opposite directions.
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: Watchlist Chart Opener MT4 - another powerful script for MetaTrader 4 traders.
This script opens two market orders in opposite directions. The idea is that when trading news, the price often breaks out in one direction. Executing this script before a news release means that if a breakout occurs, one market order will be closed by the stop loss, while the other accumulates profits.Also recommended: automated market order execution script - similar script with strong performance on MetaTrader 4.
It's important to note that this strategy may not always work as expected. The above example is just one scenario where this script could be useful.
Additionally, this script is fully compatible with ECN accounts that do not support stop levels alongside the OrderSend function.
Inputs:
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You may also like: In/Out Strategy: Profitable Trading on Session Open - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.10"
#property strict
#property script_show_inputs
input double inplots = 0.01; //size of the trade
input int inpsl = 150; //stop loss in points 150 = 15 pips
input int inptp = 300; //take profit in points 300 = 30 pips
input int inpretries = 10; //retries in case of failed trades
int error;.......
⚠ 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.