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Fast Pending Orders
Info
The Fast Pending Orders is a Script for MetaTrader 5 that placing pending orders with no need to calculate lot size. Script calculates the proper lot size and opens the pending order(s) for you.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Fast Pending Orders
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
Placing pending orders with no need to calculate lot size.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Long Pending Order - another powerful script for MetaTrader 5 traders.
Placing pending orders with no need to calculate lot size. Script calculates the proper lot size and opens the pending order(s) for you.
Also recommended: Short Pending Order - similar script with strong performance on MetaTrader 5.
Set risk percent or risk amount of your equity and other parameters in script source code and compile it, then:First run the script and select type of pending order that you want to open. script opens the pending order on chart with SL and TP Lines.
Second: drag SL and TP lines to your wanted prices on the chart.
Third: run script again and set the rest of parameters if needed (without changing former input parameter). Script will delete the previous pending order and opens new one with proper lot size based on SL price and risked equity.
Parameters:
Risk Percent (like 2% of equity)
Risk Amount (like 100$)
Minimum Lot Allowed by Broker to open Orders (generally 0.01 or 0.1)
Number of Positions (You can split your risk between more than one pending order to set different TPs for them)
Max order slippage(deviation)
V1.1:
Added above parameters to inputs window, they must be set on second run of the script.
You may also like: Pending orders UP - excellent alternative for script 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.