Simplified Order Management Class for MT4/MT5
Info
The Simplified Order Management Class for MT4/MT5 is a Library for MetaTrader 5 that this class simplifies the process of opening, closing, and modifying trading positions using straightforward commands and configuration. Key functions include Buy(), Sell(), Close(), and Modify().
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Simplified Order Management Class for MT4/MT5
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
This class simplifies the process of opening, closing, and modifying trading positions using straightforward commands and configuration.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: AS Q Order Executor - another powerful library for MetaTrader 5 traders.
This class simplifies the process of opening, closing, and modifying trading positions using straightforward commands and configuration.Also recommended: n Close Orders - similar library with strong performance on MetaTrader 5.
Key functions include Buy(), Sell(), Close(), and Modify().
Example Usage:
// Include the necessary header file
#include
Input parameters:
input int TP = 70;
input int SL = 20;
input double Lots = 0.2;
// Create an instance of the Order class
Order order;
void OnStart()
{
// Set default order parameters
order.SetLots(Lots);
order.SetMagic(123);
order.SetSL_inPoints(SL);
order.SetTP_inPoints(TP);
order.SetComment("MyExpert");
// Place orders
order.Buy(); // Open a buy order
order.Sell(); // Close the previous buy order
order.Buy(); // Open another buy order
// Modify an order
// To set Stop Loss by price:
// order.SetSL_inPrice(1.26685);
// Set Take Profit by points
order.SetTP_inPoints(30);
order.Modify(); // Apply the modifications
// Close orders by volume
order.Close_Volume(0.1); // Close half of the current order volume (0.1 from 0.2)
order.Close(); // Close the remaining part of the order
}
You may also like: n Modify Orders - excellent alternative for library users on MetaTrader 5.
⚠ 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.