What is this?
This script not only can help you to place all type of orders, included market order " BUY " / " SELL " and pending order " BUYSTOP " / " BUYLIMIT " / " SELLSTOP " / " SELLLIMIT ", but also, it allow you to place order lots by money management concept.
How to use this script?
1. Open the chart you want to trade;
2. Drag and drop the script to that chart;
3. Input the parameter what you want to do;
4. Double check the order information, then click "Yes" to confirm to place order;
Input Parameter:
- Order Type:
Select the type of order you want to place:
- Market Order: BUY / SELL
- Pending Order: BUYSTOP / BUYLIMIT / SELLSTOP / SELLLIMIT
- Order Lots:
Lots of Order;
- Order TP Pips:
Take Profit Pips of Order;
For example, you want to place BUY order of EURUSD , the current price is 1.12800 , then the target profit set the 10 pips. Finally, the order take profit price will set to 1 .12900 .
- Order SL Pips:
Stop Loss Pips of Order;
For example, you want to place BUY order of EURUSD , the current price is 1.12800 , then the target profit set the 10 pips. Finally, the order take profit price will set to 1 .12700 .
- Order Magic Number:
Magic Number of Order;
- Order Comment:
Comment of Order. The maximum length is 20 chars;
- Pending Order Distance:
The distance pips between current price and the target price;
For example, you want to place BUYSTOP to EURUSD . The current price is 1.12800 , the pending order distance is 30 pips. Finally, the order will place at 1.13100 .
- Use Money Management:
- ON : use money management for this order; otherwise, OFF , not use.
- Percent of Calc. Order Lots by Equity:
When you set the " Use Money Management " = ON , then use this percentage of account equity to calculate the order lots for new order.
For example, account equity is USD1000 , the percent set to 1.0 (1%), then the calculated order lots is 0.01 .
- Order Max Lots:
When you set the " Use Money Management " = ON , then limit the max order lots to this value;
For example, max lots set to 1.0 , but the money management calculated lots is 1.5 . Finally this script will limit to 1.0 lots and place that order to target price.
