Are you looking to enhance your trading strategy? The Pending Order Grid system for MetaTrader 4 could be just what you need! This system opens a grid of Buy Stops and Sell Stops at specific distances from the current price, giving you flexibility in your trades. Just a heads-up, though: it's not a fully automated EA, so you'll need to check in on it from time to time.
Key Features
- Starting Lot: Set your initial lot size.
- Increase Percentage: Option to increase grid lots as you go.
- Distance from Price: Set the points from the current price where the grid starts.
- Space Between Trades: Define the points between each order.
- Number of Trades: Total of open and pending orders in your terminal.
- Take Profit: Set your TP in points.
- Stop Loss: Define your SL in points.
- Trailing Stop: Set your TS in points.
- Magic Number: Use magic numbers for trade identification.
This system is compatible with all currency pairs and timeframes. Feel free to experiment, but keep in mind that this isn't a fully automated EA that runs on its own.
The Pending Order Grid is inspired by Haroun Boutamanis' AntiFragile EA, but with significant modifications. While the original code utilized limit orders and traded against the trend, waiting for pullbacks, this version employs stop orders to trade in the direction of the trend. I've also added a Take Profit feature and the ability to specify where the grid will begin. Plus, I addressed an issue with the number of trades it opened.
However, there’s a caveat: it currently can't be used on multiple pairs at once, even when using magic numbers. This is due to it counting all open positions and pending orders together, regardless of the magic number. If anyone has suggestions on how to solve this, don’t hesitate to share or tweak the code!
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