The Expert Advisor (EA) generates
an advanced trading tool to place a pending or market order on any currency pair symbol, as selected from a drop-down menu
in the panel. A market order is placed by clicking appropriate Sell or Buy button. On the other hand, a pending order is placed by
selecting a pending order type and thereafter clicking Place button.
Moreover, the panel provides
various options to define exact parameters for every order before placing it.
For instance, the triggering price for a pending order can be selected through
a drop-down menu with following options:
- Exact Price: The number written in the box is considered to be a
triggering price for the pending order (PO). As soon as the market price reaches
this value, the PO is triggered to its corresponding market order (MO). - Pips Distance: The box number is considered as a number of pips away
from the current market price. As before, whenever the market price reaches this
value, the PO is triggered.
For both the pending and the
market orders, the panel also gives options to provide following details:
- Way to calculate order’s lot by
selecting Money or Lots or Risk % with corresponding value entered in the adjacent box. - Stop-Loss either in pips or as high-low of previous
bars. A value for pips or a number of previous bars is entered by user in the adjacent
box. - Take-Profit either in pips or to be calculated using
Stop-Loss and given TP/SL Ratio or set it as per time in TP Seconds. - Trailing Stop in pips with pips being entered in the
adjacent box. Set it to zero to disable. - As per trader’s rights, there is option
to select or de-select hedging while
placing an order.
*In all the above five options, an appropriate value for the
selected option is entered in adjacent box.
Along with placing order(s), the panel
gives options to close orders;
either all or only those in profit (or loss). Such closing option can be selected anytime by clicking the
appropriate blue button available on the panel’s top.
The panel can be minimized or
closed anytime. On closing the panel, the corresponding EA is also removed from
the chart.