Detecting Pending Order Triggers in MT4/MT5
Info
The Detecting Pending Order Triggers in MT4/MT5 is a Expert Advisor for MetaTrader 5 that this expert advisor demonstrates how to identify the exact moment a pending order is triggered. How the Expert Advisor Works:The code utilizes the `OnTradeTransaction` function to monitor trade events.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Detecting Pending Order Triggers in MT4/MT5
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This Expert Advisor demonstrates how to identify the exact moment a pending order is triggered.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Fx Craft Example EA: Range Breakout with Pending Orders - another powerful expert for MetaTrader 5 traders.
This Expert Advisor demonstrates how to identify the exact moment a pending order is triggered.Also recommended: Pending Panel MT5: One-Click Pending Orders with OCO Functionality - similar expert with strong performance on MetaTrader 5.
How the Expert Advisor Works:
The code utilizes the `OnTradeTransaction` function to monitor trade events. It specifically waits for a transaction of type `TRADE_TRANSACTION_DEAL_ADD`.
Once a `TRADE_TRANSACTION_DEAL_ADD` is detected, the advisor sets a flag `bln_find_order` to true and stores the ticket of the newly placed order in the `ul_find_order` variable.
The `OnTick` function continuously checks the state of the `bln_find_order` flag. When the flag is true, the advisor initiates a search for the order using its ticket.
The search prioritizes finding the order by its ticket. If successful, it means the order has been recorded in the trade history.
After locating the order, its type is determined. To access properties of an order from the trade history, the `historyOrderGetInteger` function is employed.
This process allows for precise identification of when a pending order has been executed.
You may also like: Automated Trading with Pending Orders and Position Management - excellent alternative for expert users on MetaTrader 5.
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.