Scalping With Virtual Pending Orders – expert for MetaTrader 4

This EA demonstrates the use of a Virtual Pending Order class library (VirtPndOrds.mqh) by means of a scalping program.  The
implementation of simulated Buy Stop and Sell Stop orders enables pending orders to be executed when the price and/or an indicator value
exceeds specified thresholds.

  In addition, the threshold testing of the Buy/Sell Stop order may be done at either a new bar or at a new tick .   The
library also supports simulated Buy/Stop Limit pending orders .

  This method gives much more flexibility in dealing with pending orders.

The scalping program runs on a M1 EURUSD chart.  Stop orders are initiated when the Stochastic value crosses a
first limit line.

   The Buy/Sell Stop orders are then executed when the Stochastic value exceeds a second limit line (higher for Buy
orders) and when the price also changes by a set value in pips. Filtering by trend behavior is used to improve performance.  The
scalping demonstration program only works well for low spreads (<0.50 pips).

Get E-Book Worth $100 for Free!!!

Tester Report

  • Recommended broker: icmarketsXM,  FXTM,  tickmill