REGISTER PARTICIPANTS Expert Price Level Ea Mt4

#pricelevelea



This is an expert advisor (EA), created in Meta-Trader 4 (MT4). Everyday, it places certain number of buy-limit and sell-limit pending orders of different levels. Levels differ in terms of open price, lot and take-profit (in pips). At the stop-time of the day, all those (same type) pending orders will be canceled, none of whose orders of different levels are filled within the day. A different cancel time option is available for Fridays. If start-time and stop-time are left blank, then at each new bar, all previous pending orders are canceled and new set of pending orders are placed.

Following inputs are asked by this EA

• Start Time [HH:MM]: Every day’s start time, one time-frame after which, pending orders are placed.
• Stop Time [HH:MM]: Every day’s stop time, after which all those (same type) pending orders will be canceled, none of whose orders of different levels are filled within the day.
• Levels: Number of pending orders of same type that are placed, simultaneously.
• Starting Lot for Level 1: Fixed lot for pending order of level 1.
• Lot Multiplier for Level n: This factor is multiplied with “Starting Lot for Level 1” to get lot for any level n. Here, n takes values from 2 to 6. This is an integer value.
• Stop-Loss (Pips) for All Levels: Fixed stop-loss (in pips) with respect to open price for pending order of level 1. Resulting stop-loss price is used for all (same type) pending orders of different levels.
• Take-Profit (Pips) for Level n: Take-profit (in pips) with respect to open price of individual pending order to level n. Here, n takes values from 1 to 6.
• Distance (Pips) for Level 1: This value is subtracted from (added to) current Ask (Bid) price to get open price for buy-limit (sell-limit) pending order of level 1.
• Pips from Level 1 to Level n: This value is subtracted from (added to) open price of level 1 pending order to get open price for buy-limit (sell-limit) pending order of level n. Here, n takes values from 2 to 6.
• Close unfilled orders on every Friday?: If set to true, every Friday, all those (same type) pending orders will be canceled, none of whose orders of different levels are filled.
• Close unfilled orders on Friday at Time [HH:MM]: Cancel time for Friday, if above condition is set true.

Note:

• All inputs in pips are expected to be integer values.
• If any lot is not within allowed limits, then it is set to suitable limit and proper information is printed in Experts log.
• If stop-loss or take-profit are not at least "stop-level" away from open price, then it is set to stop-level limit and proper information is printed in Experts log. Same is true for open price.