V1 N1 New Order
Info
The V1 N1 New Order is a Script for MetaTrader 4 that this tool is designed to open orders / positions in metatrader 4 terminals with absolute control of the risk / reward ratio, automatically calculating the lot size (without the need for manual calculations and/or spreadsheets) according to risk and stop loss defined in the input parameters, with agility and precision, assisting in the risk management strategy of user manual trades. It calculates the size of the lot respecting the risk and reward defined by the user, and adapts to various strategies.
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 V1 N1 New Order
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 tool is designed to open orders / positions in MetaTrader 4 terminals with absolute control of the risk / reward ratio, automatically calculating the lot size (without the need for manual calculations and/or spreadsheets) according to Risk and Stop Loss defined in the input parameters, with agility and precision, assisting in the risk management strategy of user manual trades.
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: Modify Order - another powerful script for MetaTrader 4 traders.
This tool is designed to open orders / positions in MetaTrader 4 terminals with absolute control of the risk / reward ratio, automatically calculating the lot size (without the need for manual calculations and/or spreadsheets) according to Risk and Stop Loss defined in the input parameters, with agility and precision, assisting in the risk management strategy of user manual trades.
Also recommended: Send Pending Order - similar script with strong performance on MetaTrader 4.
It calculates the size of the lot respecting the risk and reward defined by the user, and adapts to various strategies. Basically, all the user needs to do is set where he want to place the stop loss, the risk / reward ratio, and the order will be included according to these parameters.This tool provides resources not available in the New Order command of the MetaTrader 4 platform, acting as a complement to this command.
Features
It works with all symbols, regardless of the timeframe;
Immediately executes an order or include a pending order;
Supports two types of definition of Risk: Percentage (account balance) or Amount;
Supports two types of definition of Stop Loss: Price or Points;
Supports four types of definition of Take Profit (Reward): Percentage (account balance), Amount, Price or Points;
You can add a Comment to the order, set the Magic Number and Slippage;
Easy to use and friendly interface.
Usage
Make sure that Auto Trading option is enabled in the toolbar and, with the chart of the symbol you wish to negotiate active, select the Navigator option in the View menu; in the Navigator window, select Scripts and then double-click V1N1 New Order;
In the window that opens, select the Inputs tab and set the parameters as follows.
Input Parameters
Order Operation Type:
select the operation type to be included: Buy, Sell, Buy Limit, Sell Limit, Buy Stop ou Sell Stop;
Set Pending Order Level By:
if the operation type is a pending order, select as the entry level this order will be informed: Price or Points;
Pending Order Level:
if the operation type is a pending order, set the entry level this order;
Set Order Risk By:
select as the risk of operation will be informed: Percentage (account balance) or Amount;
Order Risk:
risk of operation;
Set Stop Loss By:
select as the stop loss will be informed: Price or Points;
Stop Loss:
stop loss level;
Set Take Profit By:
select as the take profit will be informed: Percentage (account balance), Amount, Price or Points;
Take Profit:
take profit level;
Order Comment:
you can add a comment on the operation (for example: a brief description of the strategy used, the price action signal, etc);
Order Magic Number:
you can set the magic number for the operation (it may be useful, for example, for those using some tool for positions management);
Maximum Price Slippage - Points:
you can set the maximum price slippage, in points, when open positions (it may be useful, for example, in times of high market volatility).
You may also like: Delete All Pending Orders in a row - excellent alternative for script users on MetaTrader 4.
⚠ 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.