MT4 Script Question

Can a mt4 Script be executed based on a specific price level. And if that price level is hit the script automatically gets executed as opposed to me having to manually execute the script, I just set the price level and when that price is hit the script is executed automatically.


Thanks.

Hello abikambic!

The short explanation is, that it can't be done as you mention it, but with a little alteration it can be.

The reason of this is, that every digital system works with packets, or in this chase values, which you can see as ticks on the chart. If you set up a script, to execute something on a certain price level, it is highly possible, that it will never be triggered, even if the price moves through it, because if the current tick does not match the set price, the equation will not be true.

Of course, you can set up a script to do something - if the price goes above or below a certain level
- gets between two price levels

On another note, I do not want to question why you would want to do this, but the script would need to be altered before every single trade, which might be just as well annoying.

Thanks for the reply. The price level would be put in buy stop or sell stop orders. So the majority of the time the order is filled at the specified price. In oanda fx trade platform they are called limit orders.

Trading would be 100% price based trading, no indicators, no candles, etc.

So what is it you would want from the script, if the trading is based on the buy stop and sell stop orders?