short pending order
Info
The short pending order is a Script for MetaTrader 5 that when you drag this script onto the chart, it will calculate the price where you drop the script and use this price to figure out if a sell stop or sell limit pending order should be placed. the stop loss is calculated from the risk percentage input.
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 short pending order
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
when you drag this script onto the chart, it will calculate the price where you drop the script and use this price to figure out if a sell stop or sell limit pending order should be placed.
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: Scripts for Opening Short Positions - another powerful script for MetaTrader 5 traders.
when you drag this script onto the chart, it will calculate the price where you drop the script and use this price to figure out if a sell stop or sell limit pending order should be placed.
Also recommended: short position - similar script with strong performance on MetaTrader 5.
the stop loss is calculated from the risk percentage input. the take profit is then calculated using the stop loss and reward ratio.it is a pretty simple script, so enjoy!
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property script_show_inputs
input int riskpercentage = 1; // risk percentage
input int rewardratio = 2; // reward ratio
#include <trade\trade.mqh>
#include <trade\positioninfo.mqh>
#include <trade\symbolinfo.mqh>
#include <trade\accountinfo.mqh>.......
⚠ 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.