Creator of the Idea: Scriptor
MQL5 Code Author: barabashkakvn
The Constituents EA is designed to kick into action as soon as it spots a control bar that matches the Start Hour. Once this happens, it scans for the highest and lowest prices from the current bar back to a specified Search Depth. Depending on your chosen Order Type, it can place either pending Limit orders or pending Stop orders to capitalize on market movements.
To effectively utilize this EA, make sure to select the right control bar time by considering the various trading sessions:
Keep in mind that pending orders will be canceled under two conditions:
- The order's lifespan has expired (using ORDER_TIME_DAY means the order is only valid for the current trading day).
- Any pending order has been activated, leading to the cancellation of the remaining pending orders (the activation is detected via OnTradeTransaction).
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