Simple Pending Orders Time
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Simple Pending Orders 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.
Description & Settings
The Expert Advisor was created to test the profitability of the described by one of the Forum members.
SPECIAL ATTENTION!!!
This Expert Advisor is not created to evaluate the quality of the code and programming style, but only to test the strategy!!!!
The essence of the algorithm of the Expert Advisor:
At 15:00 Moscow time, automatically set pending orders Buy Stop and Sell Stop at a distance of 100 points (five digits) from the current price.
For each pending order Stop Loss levels of 200 pips (five digits) are set at once. TakeProfit is not used.
When one of two pending orders triggers, the second pending order is not deleted yet.
If both pending orders have not triggered, the second pending order will be deleted at 16:00 Moscow time. 00 min. Moscow time they are deleted.
If one or two pending orders worked, the open or open orders will be deleted at 16:00 Moscow time. 00 min. the open or open positions are closed regardless of their current profit or loss.
