Pending Order – EA MetaTrader 4

Pending Order is an order that will be executed if the price touches a point that we specify, in other words open pending order means ordering to open a position at a certain price level. So if price hits a predetermined level, then automatically we have an open trading positions.

At EA, there are 6 kinds of order types:

1. Type 0 = Buy
2. Type 1 = Sell
3. Type 2 = Buylimit
4. Type 3 = Selllimit
5. Type 4 = Buystop
6. Type 5 = Sellstop

6 kinds of type of the order, there are four kinds of types of pending orders available. We will discuss the type of pending orders one by one and then we will immediately make the action EA.

1. Buy limit

Buy limit order is an order running whereas under the price, so in order that needs change the structure is a type of order and the price is booked.

Note on buy order below:

OrderSend(Symbol(), 0, start_lot, Ask, 3, Ask-SL*Point,Ask+TP*Point, "", Magic, 0, Blue);

No part of the underlined part that must be changed in order Pending such use.

And the part that also must be considered is the Distance between the current prices at the booked price for pending orders

Ask- Distance*Point

Thus the following:

OrderSend(Symbol(), 2, start_lot, Ask- Distance*Point, 3, Ask- Distance*Point-SL*Point,Ask-Distance*Point+TP*Point, "", Magic, 0, Blue);

It could also be written:

OrderSend(Symbol(), OP_BUYLIMIT, start_lot, Ask- Distance*Point, 3, Ask- Distance*Point-SL*Point,Ask-Distance*Point+TP*Point, "", Magic, 0, Blue);

2. Sell limit

Sell limit orders are orders above prices are moving.

As in order buy limit essential part is the type of order and distance, so please compare the different

OrderSend(Symbol(), 3, start_lot, Bid+Distance*Point, 3, Bid +Distance*Point+ SL*Point,Bid+Distance*Point-TP*Point, "", Magic, 0, Red);

It could also be written:

OrderSend(Symbol(), OP_SELLLIMIT, start_lot, Bid+Distance*Point, 3, Bid+Distance*Point + SL*Point,Bid+Distance*Point-TP*Point, "", Magic, 0, Red);

3. Buy stop

Buy stop orders are orders above prices are moving.

Please observe and compare with the previous type

OrderSend(Symbol(), 4, start_lot, Ask+ Distance*Point, 3, Ask+ Distance*Point-SL*Point,Ask+Distance*Point+TP*Point, "", Magic, 0, Blue);

It could also be written:

OrderSend(Symbol(), OP_BUYSTOP, start_lot, Ask+ Distance*Point, 3, Ask+ Distance*Point-SL*Point,Ask+Distance*Point+TP*Point, "", Magic, 0, Blue);

4. Sell stop

Sell stop order is an order under the ongoing price.

Please observe and compare with the previous type

OrderSend(Symbol(), 5, start_lot, Bid-Distance*Point, 3, Bid -Distance*Point+SL*Point,Bid-Distance*Point-TP*Point, "", Magic, 0, Red);

It could also be written:

OrderSend(Symbol(), OP_SELLSTOP, start_lot, Bid-Distance*Point, 3, Bid- Distance*Point+SL*Point,Bid-Distance*Point-TP*Point, "", Magic, 0, Red);

As I promised at the beginning, we will try to make EA simple by using all the four pending!

But before we make we have to make an order according to the number of filter its type, I provide a to facilitate the script that is a function to calculate the type of order

int totalorder(int m)
{
 int total = 0;
 for (int i = 0; i < OrdersTotal(); i++) {
  if (!OrderSelect(i, SELECT_BY_POS, MODE_TRADES)) continue;
  if (OrderSymbol() != Symbol()|| OrderMagicNumber()!=Magic || OrderType()!=m ) continue;
   total++;
 }
 return(total);
}

How to call

Example:

For Buy limit

if(totalorder(OP_BUYLIMIT)==0){res=OrderSend(Symbol(), 2, start_lot, Ask- Distance*Point, 3, Ask- Distance*Point-SL*Point,Ask-Distance*Point+TP*Point, "", Magic, 0, Blue);}

Or

if(totalorder(2)==0){res=OrderSend(Symbol(), OP_BUYLIMIT, start_lot, Ask- Distance*Point, 3, Ask- Distance*Point-SL*Point,Ask-Distance*Point+TP*Point, "", Magic, 0, Blue);}

For Sell limit

if(totalorder(OP_SELLLIMIT)==0){res=OrderSend(Symbol(), 3, start_lot, Bid+Distance*Point, 3, Bid +Distance*Point+SL*Point,Bid+Distance*Point-TP*Point, "", Magic, 0, Red);}

Or

if(totalorder(3)==0){res=OrderSend(Symbol(), OP_SELLLIMIT, start_lot, Bid+Distance*Point, 3, Bid +Distance*Point+SL*Point,Bid+Distance*Point-TP*Point, "", Magic, 0, Red);}

Continue to EA ….

But I’ve tried to make EA simply to better understand

please observe

//+------------------------------------------------------------------+
//|                                             EA Pending Order.mq4 |
//|                        Copyright 2016, MetaQuotes Software Corp. |
//|                                              |
//+------------------------------------------------------------------+
#property copyright "Copyright 2016, WidiPramana."
#property link      ""
#property version   "1.00"
#property strict

extern string  Name_EA                 = "PendingOrder";
extern int     Start_Hour              = 6;
extern int     End_Hour                = 20;
extern int     TP                      = 20;
extern int     SL                      = 100;
extern double  Lots                    = 0.01;
extern int     Distance                = 15;
extern int     Magic                   = 69;

double slb,tpb,sls,tps,pt;
int res,wt,wk,tiket,ticet;
//+------------------------------------------------------------------+
//| expert initialization function                                   |
//+------------------------------------------------------------------+
int init()
  {
//----
   if(Digits==3 || Digits==5) pt=10*Point;   else   pt=Point;
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert deinitialization function                                 |
//+------------------------------------------------------------------+
int deinit()
  {
//----

//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {
label();
  
   if(Hour_trade()==1){
      if(totalorder(2)==0){res=OrderSend(Symbol(), OP_BUYLIMIT,NR(Lots), Ask-Distance*Point, 3, Ask-Distance*Point-SL*Point,Ask-Distance*Point+TP*Point, "", Magic, 0, Blue);}
      if(totalorder(3)==0){res=OrderSend(Symbol(), OP_SELLLIMIT,NR(Lots) , Bid+Distance*Point, 3, Bid+Distance*Point+SL*Point,Bid+Distance*Point-TP*Point, "", Magic, 0, Red);}
      if(totalorder(4)==0){res=OrderSend(Symbol(), OP_BUYSTOP,NR(Lots) , Ask+Distance*Point, 3, Ask+Distance*Point-SL*Point,Ask+Distance*Point+TP*Point, "", Magic, 0, Blue);}
      if(totalorder(5)==0){res=OrderSend(Symbol(), OP_SELLSTOP,NR(Lots) , Bid-Distance*Point, 3, Bid-Distance*Point+SL*Point,Bid-Distance*Point-TP*Point, "", Magic, 0, Red);}
     }
   return(0);
  }
//+------------------------------------------------------------------+

int Hour_trade()
{
   bool trade = false;
   if(Start_Hour > End_Hour){
     if (Hour() >= Start_Hour || Hour() < End_Hour) trade = true;
   } else
     if (Hour() >= Start_Hour && Hour() < End_Hour) trade = true;

   return (trade);
}

int totalorder( int tipe)
{
int total=0;
for(int i=0; i<OrdersTotal(); i++)
  {
      if(!OrderSelect(i,SELECT_BY_POS,MODE_TRADES)) continue;
      if(OrderSymbol()!=Symbol() || OrderMagicNumber()!=Magic || OrderType()!=tipe) continue;
     total++;
  }

return(total);
}
double NR(double thelot)
{
    double maxlots = MarketInfo(Symbol(), MODE_MAXLOT),
    minilot = MarketInfo(Symbol(), MODE_MINLOT),
    lstep = MarketInfo(Symbol(), MODE_LOTSTEP);
    double lots = lstep * NormalizeDouble(thelot / lstep, 0);
    lots = MathMax(MathMin(maxlots, lots), minilot);
    return (lots);
}

void label()
{
 Comment("\n ",
   "\n ",
   "\n ------------------------------------------------",
   "\n :: Pending+Order",
   "\n ------------------------------------------------",
   "\n :: Spread                 : ", MarketInfo(Symbol(), MODE_SPREAD),
   "\n :: Leverage               : 1 : ", AccountLeverage(),
   "\n :: Equity                 : ", AccountEquity(),
   "\n :: Hour Server             :", Hour(), ":", Minute(),
   "\n ------------------------------------------------");
}

The EA runs as follows:

Hopefully useful, please comment

Happy profit, good luck, and have a nice day…