What is this?
This script not only can help you to place all type of orders, included market order "BUY" / "SELL" and pending order "BUYSTOP" / "BUYLIMIT" / "SELLSTOP" / "SELLLIMIT", but also, it allow you to place order lots by money management concept.
How to use this script?
1. Open the chart you want to trade;
2. Drag and drop the script to that chart;
3. Input the parameter what you want to do;
4. Double check the order information, then click "Yes" to confirm to place order;
- Order Type:
Select the type of order you want to place:
- Market Order: BUY / SELL
- Pending Order: BUYSTOP / BUYLIMIT / SELLSTOP / SELLLIMIT
- Order Lots:
Lots of Order;
- Order TP Pips:
Take Profit Pips of Order;
For example, you want to place BUY order of EURUSD, the current price is 1.12800, then the target profit set the 10 pips. Finally, the order take profit price will set to 1.12900.
- Order SL Pips:
Stop Loss Pips of Order;
For example, you want to place BUY order of EURUSD, the current price is 1.12800, then the target profit set the 10 pips. Finally, the order take profit price will set to 1.12700.
- Order Magic Number:
Magic Number of Order;
- Order Comment:
Comment of Order. The maximum length is 20 chars;
- Pending Order Distance:
The distance pips between current price and the target price;
For example, you want to place BUYSTOP to EURUSD. The current price is 1.12800, the pending order distance is 30 pips. Finally, the order will place at 1.13100.
- Use Money Management:
- ON: use money management for this order; otherwise, OFF, not use.
- Percent of Calc. Order Lots by Equity:
When you set the "Use Money Management" = ON, then use this percentage of account equity to calculate the order lots for new order.
For example, account equity is USD1000, the percent set to 1.0 (1%), then the calculated order lots is 0.01.
- Order Max Lots:
When you set the "Use Money Management" = ON, then limit the max order lots to this value;
For example, max lots set to 1.0, but the money management calculated lots is 1.5. Finally this script will limit to 1.0 lots and place that order to target price.