I need an EA to manage pending orders

Hello there,

I've been searching for a long time but couldn't find any EA that changes the distance of all manually opened pending orders to X pips away from an EMA (checking it every X minutes or with every new candle for example).

Maybe somebody has one or knows how to code it? Thank you in advance!

How this strategy should work? At new bar we modify the order open price such that the distance from the ema is x pips? What do we do in case that new price would be too close to the current price? Do we modify the order to the nearest possible value or leave it?

Ideally should be always as close as possible yes.

One more thing. It may happen that new open price will cause that the stop loss is too close. What we do in such case?

SL should adjust, the same than TP when any pending order moves (same result you get when moving it manually), it's important yes.

I have created a script, but yet it doesn't take into account sl and tp. Now, I have to go. I will try to send new version soon.

Thank you a lot will check it and post results

Hello there, I tested it and wanted to thank you for the effort. So far it seems very promising, apart of the SL/TP not moving with their respective pending order, just saw two problems:

-It auto places two pending orders when loading the EA in a template or changing Tf, I prefer to place all the pending orders manually.

-"Sell stop" orders are placed in the current price instead of X pips under the EMA (seems like a bug, the other 3 types of pending orders work fine).



Also, there's a couple of things that would be awesome:

A functionality I'm really interested in is the ability to auto close all pending orders in the pair after X candles since the first pending order was placed, this would make the EA almost perfect.

Also, after testing it, I think it would be better if the distance to the EMA could be refreshed everytime the EMA changes its values (or since you coded it already, perhaps an option between that and refreshing with new bars, to make this EA suitable for high tfs and lower tfs, I don't know if making it optional is complicated to code, but if it is, I would prefer by default refreshing when EMA changes).


Thanks a lot in advance,

Paul.

As the code was intuitive enough, I wanted to help and I think I fixed several things (not much idea of programming, just removed a few things and changed one name), the only missing things are:

-Move SL/TP with the pending order.
-The ability to auto close all pending orders in the pair after X candles since the first pending order was placed.
-Maybe being able to choose if refresh with tick or new bar (so far only does with ticks).

I send you the archive so you save some time,

Kind regards.

Hi,
I send you a modified version of the strategy. I have add:
Move SL/TP with the pending order.
-Maybe being able to choose if refresh with tick or new bar (so far only does with ticks).


I do not understand the second modification. What do you mean by the time when first pending order was placed?

Thanks a lot, will test it as soon as the market opens.

And about the last modification, I mean that I would like to have an option adjustable to every chart where you add the EA, that would remove the manually opened pending orders that have not been activated for that chart after X candles have closed in that chart (included the current candle, which I guess makes it easier to code).

For example, let's say I add the EA to EURUSD-H1, and set this option to 5 candles. Whenever I manually start a pending order, it would have a "timer" of 5 candles (around 5 hours, depending on when I set the pending order exactly) before EA auto deletes that pending order (unless price reached it and activated the trade of course), or any pending order opened in that pair, whatever is easier to code (I usually only have 1 pending order in every chart so both are valid to me).

Also I would like them not to interfere with other charts, let's imagine that at once, for example in GBPUSD-M15 chart, I have added this EA and have this option set to 3, so whenever I set a pending order there, in around 45minutes it would close that order -or all the orders- for this chart only. (EURUSD-H1 and GBPUSD-M15 should not interfere with each other, and neither with EURUSD-M15 if I opened that chart separatedly).

I hope it's more clear now, but ask me again if needed please.

Also, I have been thinking that maybe while I'm setting the numbers of the pending order (entry, SL and TP), price moves, and in lower timeframes this is specially important (happened to me sometimes).

Would be possible to add another feature to input the SL and TP distances for the pending orders in the chart where the EA is loaded? (It would mean different charts could use different SL/TP values for different pairs or timeframes). This is less important but would help making it precise and easier to use.

Other than that for now I really can't see more ways to improve this EA further.

Hi,
please check this. You can now define order expiration (in bars) and also take profit and stop loss. If you would like to use expert on two different charts then you should set different magic number while opening the position.

Wow, thank you so much Mike! I will check it when market opens and report here.

Just tested it, none of the 4 kinds of pending orders are working now, they don't move no matter if I choose refreshing with ticks or with bars, and the SL/TP aren't appearing either.

I can't find anything wrong in the code this time, it's beyond my knowledge!

It should work now. (If you set stopLoss or takeProfit to 0 then the strategy will not set sl and tp)

It seems to be the same, it doesn't move with any of the 4 orders nor sets the TP or SL (using default values for TP and SL)

On which chart do you use the script? The problem might be with expiration (it should be greater than 15 minutes). Or your stop losses are too tight.

Can you send me a screen from the strategies and experts tab?

After many trial and error tests, I think I discovered the orders not moving because of this line:


If I paste the old line


Then the orders move again, but no SL/TP auto placed, nor expiry (even tried to mix both lines with no success for now). Hope this helps a bit, I'll keep trying.

I was making the tests on M1 charts with low period EMA 4, just to be able to make tests and check movements easier. I kept the SL and TP default on 100. And expiration I kept it on default 5 bars, will increase it to 50 or so (to make the tests on M1 only), let's see if it helps, I'll report you now.