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Scalping With Virtual Pending Orders - expert for MetaTrader 4

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votes: 15
2019.12.16 23:35

This EA demonstrates the use of a Virtual Pending Order class library (VirtPndOrds.mqh) by means of a scalping program.  The implementation of simulated Buy Stop and Sell Stop orders enables pending orders to be executed when the price and/or an indicator value exceeds specified thresholds.   In addition, the threshold testing of the Buy/Sell Stop order may be done at either a new bar or at a new tick .   The library also supports simulated Buy/Stop Limit pending orders .   This method gives much more flexibility in dealing with pending orders.

The scalping program runs on a M1 EURUSD chart.  Stop orders are initiated when the Stochastic value crosses a first limit line.    The Buy/Sell Stop orders are then executed when the Stochastic value exceeds a second limit line (higher for Buy orders) and when the price also changes by a set value in pips. Filtering by trend behavior is used to improve performance.  The scalping demonstration program only works well for low spreads (<0.50 pips).

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