Pending Orders by Time
Info
The Pending Orders by Time is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) specializes in managing pending orders, setting buy stop and sell stop orders at specific times. It also incorporates a stop loss feature for risk management.
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 Pending Orders by Time
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
The Expert Advisor (EA) specializes in managing pending orders, setting buy stop and sell stop orders at specific times.
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.
The Expert Advisor (EA) specializes in managing pending orders, setting buy stop and sell stop orders at specific times. It also incorporates a stop loss feature for risk management.Also recommended: Pending Panel MT5: One-Click Pending Orders with OCO Functionality - similar expert with strong performance on MetaTrader 5.
A key feature is the use of virtual take profit. The EA monitors open positions and closes them when the profit reaches the specified take profit level.
Timeframe-based Functionality:
The EA operates on timeframes below H1. For instance, if set to the M15 timeframe, it will place pending orders four times per hour: at [hour]:00, [hour]:15, [hour]:30, and [hour]:45.
Results for EURUSD, H30:
Opening Hour: 09
Closing Hour: 21
Distance from Price (in pips): 10
Volume Transaction: 0.1
Stop Loss (in pips): 20
Take Profit (in pips): 500
You may also like: OrderSendAsync Example Expert Advisor - 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.