managing limit order buy or sell

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Here is the situation. I have placed many limit orders (limit sell and limit buy).

 

When I am not in front of my computer. The price may go in opposite direction as I predict. And it go pass certain point of price. I want my limit order to be closed, even it is not trigger yet.

Can this be done in indicator coding ? EA? or script? Which one is better for my situation? and can this manage all of my pending order? This is for MT4

 

Thank you 

 

Hello shonick,

Basically you wish to close an order once price reaches a specific level?

Yeah, this can be done.

What criteria will the order close code block need included?


Thank you

 
I determined it by input price level. Will this be done in indicator, EA, or script?
 
shonick:
I determined it by input price level. Will this be done in indicator, EA, or script?

An EA or script would be just fine. Indicators can't perform this task.


Thank you

 
shonick:

Here is the situation. I have placed many limit orders (limit sell and limit buy).

 When I am not in front of my computer. The price may go in opposite direction as I predict. And it go pass certain point of price. I want my limit order to be closed, even it is not trigger yet.

Can this be done in indicator coding ? EA? or script? Which one is better for my situation? and can this manage all of my pending order? This is for MT4

You should use an EA,  a script is intended to run once and then end . . . it can be made to loop constantly but that is really what an EA is for.  Indicators cannot perform trade operations.
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