Scalping Strategies: Leveraging Virtual Pending Orders in MetaTrader 4

Hey fellow traders! Today, I want to dive into a nifty little trick for scalping using virtual pending orders in MetaTrader 4. This method uses a neat class library called VirtPndOrds.mqh to help us set up simulated Buy Stop and Sell Stop orders. What’s cool about this approach is that it allows us to execute pending orders once the price or an indicator hits certain thresholds.

One of the major perks of this system is the flexibility it offers. You can test those Buy/Sell Stop orders either at a new bar or as soon as a new tick comes in. Plus, the library also supports simulated Buy/Stop Limit pending orders, which is fantastic for those looking to fine-tune their entries.

Now, let’s talk about how this scalping program operates. It runs on an M1 EUR/USD chart, and here’s how it works: Stop orders get triggered when the Stochastic indicator crosses a predefined limit line. After that, our Buy/Sell Stop orders kick in once the Stochastic goes beyond a second limit line (which is higher for Buy orders) and when the price moves by a specific number of pips. We also incorporate trend behavior filtering to boost our performance. Just a heads-up though—the scalping program shines best when you're dealing with low spreads (ideally less than 0.50 pips).

Tester Report

Flexibility: Test orders at new bars or ticks.
Trend Filtering: Improves your chances of success.
Low Spreads: Aim for less than 0.50 pips for best results.

Scalping Strategies: Leveraging Virtual Pending Orders in MetaTrader 4

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