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GridEditByCurrencyMT4

Set take profit and stop loss of your orders grid as values in the deposit currency. This simplifies following the selected money management strategy. By using this script, traders will know the exact amount to be earned when reaching take profit or to be lost in case of a possible stop loss. Stop loss and take profit are set equal for all orders of the grid that are evaluated by the script. Position of stop loss and take profit is determined based on breakeven level of the orders grid, which are included in the script calculation.


Input parameters

  • Buy or sell - actions will be performed either for all buy orders or for all sell orders. The effect of the script is limited to orders opened on the currency pair the script is running on. Possible values:
    • All BUY - include all buy orders in calculation
    • All SELL - include all sell orders in calculation
    By default, the script is run for all buy orders and the value is set to All BUY.
  • Stop Loss in currency - stop loss value in the deposit currency. For example, if this field is set to 20, the script will take it as twenty dollars, in case the deposit currency is USD. This value will be recalculated as the number of points, by which the stop loss must be offset from the breakeven level calculated for the orders grid. If this parameter is set to 0, the current stop loss value will be removed. The default value is -1. If this value is left unchanged, then stop loss will not be set, and the current one will not be modified.
  • Take Profit in currency - similar to the above, but for take profit. The default value is -1. If this value is left unchanged, then take profit will not be set, and the current one will not be modified.
  • Include pending - include the pending orders in calculation. It is strongly NOT recommended to this value to true for a grid of multiple orders, either fully comprised of pending orders or composed of both pending and market orders. A part of those orders is highly likely not to be modified. Setting this parameter to true is justified only when setting stop loss and take profit for an orders grid consisting of a single pending order. The default value is false

If Take Profit in currency and Stop Loss in currency are left at the default values (-1), then the script will not take any action and it will report an error.

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