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Cancel Pending Order at Start of New Candle

  • #1
  • First Post: Edited 7:42pm Feb 14, 2013 12:10pm | Edited 7:42pm
I'm new to programming with MT4 and was wondering how I could cancel a pending order if its not filled by the end of a candle? I'm on an ECN broker so it can't be placed in the OrderSend function. Any ideas would be greatly appreciated.
  • #2
  • Feb 14, 2013 6:51pm Feb 14, 2013 6:51pm
Quoting trumpjr
I'm new to programming and was wondering how I could cancel a pending order if its not filled by the end of a candle? Any ideas would be greatly appreciated.
trumpjr-

Seems like the best way would be to set the expiration parameter of the OrderSend() function when you place the pending order.
  • #3
  • Feb 14, 2013 7:34pm Feb 14, 2013 7:34pm
I'm on an ECN broker so you can not use the expiration in order send, plus I don't know how you would have it cancel at the end of a candle. Anyone else with ideas?
  • #4
  • Edited 9:31pm Feb 14, 2013 8:47pm | Edited 9:31pm
Quoting trumpjr
I'm on an ECN broker so you can not use the expiration in order send, plus I don't know how you would have it cancel at the end of a candle. Anyone else with ideas?
trumpjr-
If it was a non-ECN broker then you could calculate the amount of time in the candle period and that would be the expiration parameter.

If as you say the expiration parameter can't be used on an ECN broker(or is it just the one you're on?) then you would have to have an EA that would cancel all pending orders at the end of the candle or define a function within your EA. It can't be that hard.
  • #5
  • Feb 14, 2013 8:52pm Feb 14, 2013 8:52pm
You can't at least at MB. I understand the logic that would be behind the function but I don't know how to code it.
  • #6
  • Feb 15, 2013 5:08am Feb 15, 2013 5:08am
Quoting trumpjr
I'm new to programming with MT4 and was wondering how I could cancel a pending order if its not filled by the end of a candle? I'm on an ECN broker so it can't be placed in the OrderSend function. Any ideas would be greatly appreciated.
There are dozens of EAs which use logic dependent on end of bar etc.
If you just look on Platform Tech, you will see an example:
http://www.forexfactory.com/showthread.php?t=409994
Subject:
Is there an indicator that copies the screen at open of every candle?



In that thread you find a link to an EA:
http://www.forexfactory.com/showthre...35#post3547435


Now look into the code of that EA, which takes a screenshot at each new candle.


Inserted Code
if (barStart < Time[0]) //start of new bar 
   {
      string timeStamp = TimeToStr(TimeCurrent(), TIME_DATE|TIME_MINUTES);
      string newstr = StringSetChar(timeStamp, 13, '_');
      WindowScreenShot(FileName + newstr + ".gif", 640, 480, -1, -1, chartType);
      barStart = Time[0];
   }


You donīt need the screenshot, but right there you have what you need for your
logic:
Inserted Code
if (barStart < Time[0]) //start of new bar 
   {
      barStart = Time[0];
   }


You need to define the variable barStart. The code of it is there too:
Inserted Code
datetime    barStart = 0;


With these code snippets you can build your logic.


This is how I am finding answers to some questions.
  • #7
  • Feb 15, 2013 8:56pm Feb 15, 2013 8:56pm
Thanks a ton for your help. I will give it a shot.
  • #8
  • Last Post: Jun 25, 2015 12:14pm Jun 25, 2015 12:14pm
I built this EA using fxdreema ( give them a try, they're great ). The EA places 2 pending orders, a buy stop and a sell stop above/below previous candle.
When one order is filled, the other order is canceled. At the beginning of a new candle, any previous pending orders are deleted.
Attached File(s)
File Type: mq4 once per bar expert.mq4   139 KB | 990 downloads
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