One Cancel Other(s)
Info
The One Cancel Other(s) is a Script for MetaTrader 5 that this script is designed for manual trading, ensuring efficient order management. It automatically cancels all other pending orders on the same symbol when one order is triggered, making it ideal for breakthrough strategies.
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 One Cancel Other(s)
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
This script is designed for manual trading, ensuring efficient order management.
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: reconstruction of positions - another powerful script for MetaTrader 5 traders.
This script is designed for manual trading, ensuring efficient order management. It automatically cancels all other pending orders on the same symbol when one order is triggered, making it ideal for breakthrough strategies.Also recommended: open sell limit order - similar script with strong performance on MetaTrader 5.
Key features:
- Works exclusively with orders on the chart's attached symbol.
Assumptions:
- Orders are already placed.
- No open positions exist for the symbol.
Functionality:
- Upon triggering an order, the script deletes all pending orders on the symbol and exits.
- If no pending orders exist, the script exits gracefully.
This script is a valuable tool for traders, simplifying order management and providing peace of mind during manual trading.
You may also like: export positions history - excellent alternative for script users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <trade\trade.mqh>
bool end = false;
int symbolorders() {
int total = orderstotal();
if ( total == 0 ) {
return(0);.......
⚠ 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.