Zone Limite

Zone Limite is a free order placement utility for MetaTrader 5. It places several limit orders at equal distances between two prices, in one click, so you can enter a price zone step by step instead of on a single level.

How it works

Type the zone high price, the zone low price and the number of orders in the panel on your chart, then click PLACE. Buy limits are placed from the top of the zone down to the bottom, and sell limits from the bottom up to the top.

Example: zone 2000.00 to 1990.00, 5 orders, 1.00 lot in total. The utility places 5 buy limits of 0.20 lot at 2000.00, 1997.50, 1995.00, 1992.50 and 1990.00.

For a sell zone from 2010.00 to 2020.00 with 3 orders, the sell limits go to 2010.00, 2015.00 and 2020.00. After the placement, the status line shows how many orders were placed and the total lot.

Each filled order becomes a normal position that keeps the Stop Loss and Take Profit of the zone. The orders that are not filled stay pending until the price reaches them or you click CANCEL. On a symbol that does not accept "good till cancelled" orders, they expire at the end of the day if the symbol accepts that, otherwise after 12 hours.

• Buy or Sell - one switch on the panel: buy limits below the price, sell limits above it.
• Stop Loss and Take Profit - optional prices applied to every order of the zone.
• CANCEL - removes only the pending orders placed by this utility on the chart symbol.
• Up to 200 orders - per zone, one zone at a time on each symbol.

Two ways to size the orders

• Total lots - the total is split evenly in lot steps of your broker; the remainder goes to the first orders, so the sum is exact; if some levels are skipped (see below), their lots are not placed and the status line shows the real total.
• Lot per order - every order gets this lot, rounded down to the lot step; Total lots is then ignored.
• Limits of the broker - an order below the minimum lot or above the maximum lot stops the placement.

For example, 10 orders with a lot per order of 0.08 place 0.80 lot in total. A total that is not a multiple of the lot step is refused, with the reason on the panel.

Checks before sending

Before the first order is sent, the utility checks the whole zone. If something is wrong, the status line tells you why and no order is sent.

• Prices - the Stop Loss must be beyond the zone on the losing side and the Take Profit beyond it on the other side.
• Distances - levels, stops and targets must respect the minimum distance and freeze level of your broker.
• Account - free margin, the limit of pending orders of the account and the volume limit of the symbol.
• Server check - each order is checked by the trade server before anything is placed.

Levels already on the wrong side of the current price are skipped and counted on the status line. If the server rejects an order during the placement, the utility tries to remove the orders already placed, without checking the result, and shows the price and the code of the refused order. Check your pending orders afterwards.

Inputs

• Side - Buy (buy limit) or Sell (sell limit).
• Zone high price, Zone low price - the limits of the zone; 0 shows a zone near the current price on the panel.
• Number of orders - from 1 to 200.
• Total lots, Lot per order - the two sizing modes; 0 as lot per order means Total lots is used.
• Stop loss price, Take profit price - 0 means none.

The Magic number input tells its orders apart from those of other EAs. Every panel box also exists as an input, so you can save your setup in a .set file. Your values are remembered when you change the timeframe, and the interface is in English or French, following the language of your terminal.

What it does not do

Nothing happens until you click PLACE. On a live chart, the utility never opens a trade on its own, and CANCEL never touches open positions or the orders of other EAs. It works on any symbol that accepts limit orders at your broker.

In the Strategy Tester, where the panel cannot be clicked, it places small sample zones automatically to show how it works. It does not guarantee any result, and trading involves risk.

Support

Questions or suggestions: use the Comments tab of this page or send me a message through my MQL5 profile: https://www.mql5.com/en/users/centralia

Other product: Breakeven Bot, a utility with a button to move your profitable positions to breakeven: https://www.mql5.com/en/market/product/131301