MQ4 sending Pending Orders with OrderSend | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

EA orders pending orders 8 replies

Close all pending orders and open orders once they reach profit target 3 replies

I need some MQ4 help from a real MQ4 programmer 2 replies

moutaki Mq4+fibo grid Mq4=profit+ease 39 replies

Orders & Pending Orders Script 0 replies

Attachments: MQ4 sending Pending Orders with OrderSend
Exit Attachments

MQ4 sending Pending Orders with OrderSend

  • #1
  • First Post: Oct 3, 2008 10:12am Oct 3, 2008 10:12am
How do I use OrderSend to open a pending order (an order to execute if the price hits a certain amount in the future)?

For example, if it's EURUSD and the price is currently 1.0000, I want to open a sell when the price drops 10 pips. Here's my attempt:

Inserted Code
OrderSend(Symbol(), OP_SELLLIMIT, 1, Bid - (Point * 10), 3, 0, Bid - (10 * Point), "Sell(#" + MagicNumber + ")", MagicNumber, 0, DeepPink);
However, I get an Error 130. I've verified that all my TP/SL/etc. values are prices (not pips; though SL is zero, because I don't use stoploss).

Also, this is RIGHT after executing a buy trade.
  • #2
  • Oct 3, 2008 10:25am Oct 3, 2008 10:25am
What's the minimum stoploss/takeprofit for your broker? It's usually 10.
  • #3
  • Oct 3, 2008 10:28am Oct 3, 2008 10:28am
I'm not sure. I'm just backtesting my EA on a couple of days of old data...

Got it--something was wrong with my TP values. Fixed it now...

Thanks!
  • #4
  • Oct 3, 2008 11:59am Oct 3, 2008 11:59am
Given your conditions you would want a SellSTOP.
  • #5
  • Oct 6, 2008 3:17pm Oct 6, 2008 3:17pm
Quoting ashes999
How do I use OrderSend to open a pending order (an order to execute if the price hits a certain amount in the future)?

For example, if it's EURUSD and the price is currently 1.0000, I want to open a sell when the price drops 10 pips. Here's my attempt:

Inserted Code
OrderSend(Symbol(), OP_SELLLIMIT, 1, Bid - (Point * 10), 3, 0, Bid - (10 * Point), "Sell(#" + MagicNumber + ")", MagicNumber, 0, DeepPink);
However, I get an Error 130. I've verified that all my TP/SL/etc. values are prices (not pips; though SL is zero, because I don't use stoploss).

Also, this is RIGHT after executing a buy trade.
OrderSend(Symbol(), OP_SELLLIMIT, 1, Bid - (Point * 10), 3, 0, Bid - (20 * Point), "Sell(#" + MagicNumber + ")", MagicNumber, 0, DeepPink);
  • #6
  • Oct 6, 2008 5:56pm Oct 6, 2008 5:56pm
Quoting Kenz987
Given your conditions you would want a SellSTOP.
This is correct. A sell limit order can only be placed above the current price, and a sell stop only below the current price.

Attached is the relevant section from MT4's on-line help.

David
Attached Image (click to enlarge)
Click to Enlarge Name: order types.JPG Size: 83 KB
  • #7
  • Oct 6, 2008 10:47pm Oct 6, 2008 10:47pm
There are 4 types of Pending Orders with MT4 brokers:

BuyStop:

OrderSend(Symbol(), OP_BUYSTOP, Lot, Ask+Distance*Point, 1, 0, 0, "comment", Magic, 0, CLR_NONE);


SellStop:
OrderSend(Symbol(), OP_SELLSTOP, Lot, Bid-Distance*Point, 1, 0, 0, "comment", Magic, 0, CLR_NONE);


BuyLimit:
OrderSend(Symbol(), OP_BUYLIMIT, Lot, Ask-Distance*Point, 1, 0, 0, "comment", Magic, 0, CLR_NONE);


SellLimit:
OrderSend(Symbol(), OP_SELLLIMIT, Lot, Bid+Distance*Point, 1, 0, 0, "comment", Magic, 0, CLR_NONE);


Personally, I wish that MQL would implement a "Combine" function wherein, given two Open Orders, it will produce a single order. This will come in handy for managing several positions when one does a "scaling in" and/or averaging technique.
  • #8
  • Oct 12, 2008 12:43am Oct 12, 2008 12:43am
Quoting BurgerKing
Personally, I wish that MQL would implement a "Combine" function wherein, given two Open Orders, it will produce a single order. This will come in handy for managing several positions when one does a "scaling in" and/or averaging technique.
Burger, I think there's a good reason why this can't be done tidily. For example, if I buy 2.3 lots at 1.6889 and another 4.1 lots at 1.6895, then when the orders are combined, I would have 6.4 lots at an average price of (1.6889 x 2.3 + 1.6895 x 4.1) / 6.4 = 1.689284375, i.e. the averaging becomes messy. Also, if I place different expiry times, SLs, TPs, etc on each part of the order, how would MT4 know how to aggregate these?

David
  • #9
  • Last Post: Oct 12, 2008 8:15pm Oct 12, 2008 8:15pm
I would think expiry would be the number one issue. You may get a partial fill at an averaged price, but would probably be too specific to have time for a full order.
0 traders viewing now