Create Buy Limit Orders

MQL4 Experts

Specification

EA Name: Create Buy Limit Orders

Inputs:
1) CreateBuyOrder = Yes / No --->If it is Yes, the EA will create Buy limit orders
2) Stopout Margin Level = X% (300%) ---> Must close all the open limit orders if margin level reaches X% & Should not create any new Limit order (Stop the EA and not create any Limit Orders)
3) RestartMarginLevel = Y% (500%) --- Restart the process of creating Limit orders once the margin level is greater than Y%

4) Lot size = ___ (eg. 0.01)     ---> Create Limit orders at this Lot Size
5) OrderDistance = X USD (eg. 25 USD) -----Create Limit orders at this OrderDistance - All prices are in terms currency USD & not pips
6) TakeProfit = N USD (eg. 20 USD) --  (When limit orders are created, they should have this TP. Eg. Order opened at $750, should have TP as 770)
7) StopLoss = M USD (eg. 10 USD) -- (When limit orders are created, they should have this SL Eg. Order opened at $750, should have SL as 740)
8) Limit orders Qty (Q) = ___ (Number of Buy Limit Orders to Maintain at any time)
9) Create_After_Before = ___ (eg. 6$)


Process:
Step1 Clear open limit orders: At the start of the EA ---> Close all limit orders created by this EA in the past

Step2 - Order creation : Create (Q) number of Buy limit orders at the given "OrderDistance" below the current price. Use the following formula to create the buy limit orders for the first time.

Create buylimit orders at 950,925,900,875,850,825,800,775,750,725

(Assume Q=10)
First Buy limit order to create is ---> Current Price-Current Price mod OrderDistance - OrderDistance = 995-995 mod 25-25 =950
Second Buy limit order to create is 950-25 = 925
Third  Buy limit order to create is 925-25 = 900
10th Buy limit order to create = 725


2) At any point in time ensure that there are Q number of buy limit orders at any point of time. For this need to create 1 more highest limit order when price moves up OR need to create the lowest limit order when price moved down.

(a) Example - When price goes to 1006 (ie. 1000 + Create_After_Before), then need to create a buy limit order of 975
ie. 1006-1006mod 25-25 =975
AND - Delete the least price order of 725


(b) When price goes to 944(ie. 950-Create_After_Before), only 9 buy orders will be remaining 
(since Buy limit order of $950 has already converted to buy order just a little while ago)

Hence, should create a last 1 more buy limit order of $700 and so on.

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