OpenOrder (with risk management, Take Profit and Stop Loss levels) - Script for MetaTrader 4 - MT4/MT5 Resources
This script is useful if you want to open an order using risk management rules and magic numbers, you can also set take profit and stop loss distance from the current price.
You will be able to:
Attachment download
📎 openorder_v1-0.mq4 (4.12 KB)
Source: MQL5 #17518
OpenOrder (with risk management, Take Profit and Stop Loss levels) - Script usage and filtering recommendations for MetaTrader 4
OpenOrder (with risk management, take profit and stop loss levels) - Scripts for MetaTrader 4 is a resource related to trading scripts. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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