Limit stop order script - MetaTrader 5 script | Trading script download - MT4/MT5 resources
The aim is to trade above support/resistance levels. For example, if the price hits a given limit set by the script its stop order is at the defined stop buy price (5-10 pips above the level) and exists. Therefore, if the price breaks the support line, a buy stop order will not be sent. ie. This method acts as a filter, allowing weak/erroneous signals to be deselected.
Attachment download
📎 limitstoporderscript.mq5 (6.1 KB)
Source: MQL5 #1460
Limit stop loss order script - MetaTrader 5 script | Trading script download - MT4/MT5 resource usage and screening suggestions
Limit stop order script - MetaTrader 5 script | Trading script download - MT4/MT5 resources are trading script related resources. 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 on titles or short-term profit descriptions.
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