The Buy/Sell Stop Pending Order Script MT4 – Free Download

5
(1)

Buy/Sell Stop Pending Order Script Review

Forex trading, a realm of immense possibilities, comes with its fair share of complexities. One of the challenges traders often face is the sheer time and dedication required to place trades at the right moment. That's where automated tools and scripts come into play. Today, we'll delve into the realm of automated scripts, focusing on a particular one: the "pending-order" script.

 Version: V 1.0
 Terminal: MT4
 Year of issue: 2023
 Working pairs: Any
Recommended timeframe: Any

Best Brokers List

Buy/Sell Stop Pending Order Script  works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAMEREGISTERYear Founded Headquartered LeverageMinimum Deposit Regulating
The Buy/Sell Stop Pending Order Script MT4 - Free Download 2
Register2007
🇦🇺 Australia
🇨🇾 Cyprus
🇧🇸 The Bahamas
🇸🇿 Seychelles
1:1000$200ASIC, SCB, FSA
The Buy/Sell Stop Pending Order Script MT4 - Free Download 3Register2008
🇨🇾 Cyprus
1:Unlimited$10CySEC, FCA, FSCA, FSA, BVI
The Buy/Sell Stop Pending Order Script MT4 - Free Download 4Register2009
🇧🇿 Belize
1:2000$10FSC
The Buy/Sell Stop Pending Order Script MT4 - Free Download 5Register2009
🇧🇿 Belize
1:3000$1IFCS
The Buy/Sell Stop Pending Order Script MT4 - Free Download 6Register2009
🇨🇾 Cyprus
🇦🇺 Australia
🇧🇿 Belize
🇦🇪 Emirates
1:1000$5 ASIC, CySEC , IFSC
The Buy/Sell Stop Pending Order Script MT4 - Free Download 7Register2010
🇦🇺 Australia
1:500$200FCA , ASIC, DFSA
The Buy/Sell Stop Pending Order Script MT4 - Free Download 8Register2011
🇬🇧 England
1:500$25CySEC
The Buy/Sell Stop Pending Order Script MT4 - Free Download 9Register2006
🇪🇭 Ireland
1:400 $100CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA
See also  Live Forex Signals By A Former FX Hedge Fund Manager

Buy/Sell Stop Pending Order Script Settings

The Buy/Sell Stop Pending Order Script MT4 - Free Download 10

What is the Buy/Sell Stop Pending Order Script?

In essence, this script facilitates automated trading by setting up pending orders in your forex trading account. It's like having an assistant that constantly watches the market for you, placing orders when specific conditions are met. Let's break down its features:

  1. Versatility Across Pairs: The script works across all forex pairs. Depending on the volatility and characteristics of the pair, you may want to adjust the settings.
  2. Order Types: This script doesn’t just stick to one type of order. It automates 40 pending orders at once, categorized into:
    • Buy limit: 10
    • Sell limit: 10
    • Buy stop: 10
    • Sell stop: 10
  3. Broker Compatibility: While the script is powerful, it's essential to ensure that your broker supports multiple pending orders simultaneously. Some brokers might restrict the number of simultaneous pending orders, so choose wisely.

Profit Targets & Equity Management

The core objective of any trading strategy or tool is profitability. With this script, traders have the flexibility to set their profit targets. Let’s say your initial capital is $1,000. If your target profit is $100, once your equity (account balance + current profit/loss) reaches $1,100, you have the option to close all transactions. This includes all active trades and pending orders.

It's a clear, quantitative target that prevents the often detrimental emotional trading decisions traders can make in the heat of the moment.

Furthermore, documenting your initial capital before running the script is a good practice. This helps in efficiently tracking if your equity has hit the desired profit milestone.

Practical Outcomes & Considerations

In a two-day trial run on a demo account with $1,000 capital, the script exhibited its potential by garnering a 6% profit. However, an essential aspect to consider is the trading account's leverage. Initially tested on a 1:200 leverage account, there were some limitations. Switching to a 1:1000 leverage account eradicated those concerns.

See also  HFT EA- Fast Scalper With Real Result

Buy/Sell Stop Pending Order Script Results

The Buy/Sell Stop Pending Order Script MT4 - Free Download 11

The Buy/Sell Stop Pending Order Script MT4 - Free Download 12

Concluding Thoughts

Automated tools like the "pending-order" script offer a blend of convenience and strategy. However, as with all trading tools, it's vital to understand its workings fully and test it in a demo environment before transitioning to a live account. Moreover, always be aware of market conditions, as no tool guarantees a profit. Instead, they serve as enablers, allowing you to maximize your potential in the dynamic world of forex trading.

 

Download Buy/Sell Stop Pending Order Script

Please try for at least a week an XM demo account. Also, familiarize yourself with and understand how this free forex tool works before using it on a live account.

14.99 KB

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?



Author: Forex Wiki Team
We are a team of highly experienced Forex Traders [2000-2023] who are dedicated to living life on our own terms. Our primary objective is to attain financial independence and freedom, and we have pursued self-education and gained extensive experience in the Forex market as our means to achieve a self-sustainable lifestyle.