Timed Order Knowledgeable Advisor (Robotic) for MetaTrader 4, MetaTrader 5, and cTrader

What’s Timed Order EA?

Timed Order is a straightforward MetaTrader/cTrader skilled advisor that permits you to execute a commerce at a selected time. The EA can be utilized to schedule a commerce in the course of the weekend to be executed when the market opens. It can be used to arrange a commerce that will probably be executed when you find yourself away from the platform. It is very important perceive that Timed Order isn’t a totally automated buying and selling robotic — you need to set the date and time of the commerce, set an acceptable stop-loss and take-profit, outline most deviation parameters, and so forth. Nonetheless, its extremely customizable settings permit creation of practically any type of a buying and selling order. This EA helps risk-based place sizing along with the same old mounted place measurement. It’s out there for the next buying and selling platforms: MT4, MT5, and cTrader.

Operation

Timed Order opens a single commerce on the time specified by the dealer. The time may be given both because the server time or because the native time. The Timed Order EA helps the next commerce sorts:

• Purchase
• Promote
• Purchase Restrict
• Purchase Cease
• Promote Restrict
• Promote Cease
• Purchase Cease Restrict (MT5 solely)
• Promote Cease Restrict (MT5 solely)

You possibly can arrange a stop-loss and a take-profit for the order you’re planning to open. There are 4 kinds of SL/TP supported by the skilled advisor:

• Value stage — the particular value. If you’re setting this for a market order (Purchase/Promote), the order could fail if the value strikes past the SL/TP set as a value stage.
• Distance — SL/TP as distance in factors. Easy and kind of assured.
• ATR — a a number of of the ATR indicator’s worth. You management the multiplier, the ATR interval, and the ATR timeframe.
• Spreads — a a number of of the forex pair’s unfold on the time of execution.

The EA helps setting the Entry stage. For pending orders, it’s compulsory. For market orders, it may be used along with the MaxDifference enter parameter to keep away from order execution at an unfavorable charge.

The expiration parameter may be arrange for pending orders for the order to run out on the set time.

You can too management what number of makes an attempt the platform will go together with to execute the order ought to it encounter some error.

One other helpful choice is to set the utmost allowed unfold to keep away from executing the commerce when spreads are too extensive.

A place sizing perform may be enabled to calculate the commerce measurement primarily based in your threat tolerance and stop-loss. Alternatively, you’ll be able to set a set place measurement.

You possibly can configure the alerts to be triggered individually in case of a failure and in case of successful.

Instance trades

MetaTrader

Right here is how the EA seems if you connect it to a chart in MetaTrader 5. This occasion was set as much as open a Purchase order with a set stop-loss stage and ATR-based take-profit:

cTrader

And right here is an instance commerce setup for cTrader. The scheduled commerce will probably be a Promote with a fixed-distance stop-loss and take-profit:

No backtesting

As a result of nature of the Time Order EA, there are not any backtesting outcomes for it.

Enter parameters

Buying and selling

• OrderTime — the date and time when the order must be created. In cTrader, there are 5 separate parameters as a substitute: yr, month, day, hour, and minute.
• OrderType (default = Purchase) — one of many following: Purchase, Promote, Purchase Restrict, Purchase Cease, Promote Restrict, Promote Cease, Purchase Cease Restrict, Promote Cease Restrict.
• Entry (default = 0) — the entry value for pending orders; the specified value for market orders.
• StopPrice (default = 0) — the cease value for Cease Restrict orders. Solely in MT5.
• SLType (default = Value stage) — one of many following: value stage, distance, ATR, spreads.
• StopLoss (default = 0) — the stop-loss worth primarily based on the chosen kind. For the value stage — the particular value. For the space — the variety of factors. For the ATR — the multiplier. For the spreads — the multiplier as properly.
• TPType (default = Value stage) — one of many following: value stage, distance, ATR, spreads.
• TakeProfit (default = 0) — the take-profit worth primarily based on the chosen kind. For the value stage — the particular value. For the space — the variety of factors. For the ATR — the multiplier. For the spreads — the multiplier as properly.
• TimeType (default = Server) — the kind of time you set through OrderTime. It may be both your platform’s native time or the server’s time.

Management

• Expires (default = 0) — the expiry time for pending orders.
• Retries (default = 10) — what number of makes an attempt to carry out earlier than giving up?
• MaxDifference (default = 0) — if OrderType is ready to Purchase or Promote and a few non-zero Entry is given, the EA will solely execute the order if the distinction between the present value and the Entry worth is much less or equal to the MaxDifference worth.
• MaxSpread (default = 3) — if the unfold at order time is bigger than this worth, the order isn’t positioned.
• Slippage (default = 30) — the utmost tolerable slippage in factors.
• ATR_Timeframe (default = PERIOD_CURRENT) — the timeframe for the ATR indicator. It’s used provided that you set both SLType or TPType to ATR.
• ATR_Period (default = 0) — the ATR indicator’s interval. It’s used provided that you set both SLType or TPType to ATR.

Place sizing

• CalculatePositionSize (default = false) — if true, the place measurement will probably be calculated primarily based on the given threat and stop-loss.
• FixedPositionSize (default = 0.01) — the mounted place measurement to make use of if CalculatePositionSize = false.
• Threat (default = 1) — the chance tolerance in proportion of account stability/fairness. Works provided that CalculatePositionSize = true. This enter parameter is ignored if UseMoneyInsteadOfPercentage is ready to true.
• MoneyRisk (default = 0) — the chance tolerance in account forex. Works provided that CalculatePositionSize = true. Requires UseMoneyInsteadOfPercentage set to true.
• UseMoneyInsteadOfPercentage (default = false) — if true, the place measurement is calculated primarily based on threat quantity given in account forex (MoneyRisk) as a substitute of stability/fairness proportion threat (Threat). Works provided that CalculatePositionSize = true.
• UseEquityInsteadOfBalance (default = false) — if true, the place measurement is calculated primarily based on account fairness as a substitute of stability. Works provided that CalculatePositionSize = true. Ignored if UseMoneyInsteadOfPercentage = true.
• FixedBalance (default = 0) — if set to a non-zero worth, it’s used as a substitute of account stability/fairness for place measurement calculation. Works provided that CalculatePositionSize = true.

Alerts

• AlertsOnSuccess (default = false) — if true, the EA will subject an alert when the order is positioned efficiently.
• AlertsOnFailure (default = false) — if true, the EA will subject an alert if it fails to create the order.
• EnableNativeAlerts (default = false) — if true, the EA will use MetaTrader’s native pop-up alerts.
• EnableEmailAlerts (default = false) — if true, the EA will use MetaTrader’s e mail alerts. E mail must be correctly configured in MetaTrader through Instruments->Choices->E mail.
• EnablePushAlerts (default = false) — if true, the EA will use MetaTrader’s push notification alerts. Notifications must be correctly configured in MetaTrader through Instruments->Choices->Notifications.

Miscellaneous

• Magic (default = 20220913) — the magic quantity for orders to filter positions opened by this EA. Not current in cTrader.
• OrderCommentary (default = “TimedOrder”) — the commentary for positions opened by this EA.
• Silent (default = false) — if true, the EA will not output any info within the chart commentary discipline.
• Logging (default = true) — if true, the EA will log its messages right into a log file. The file identify begins with “TO-Log-<Trading_Instrument>”. Not current in cTrader.

Downloads (ver. 1.00, 2022-09-23)

MetaTrader 4

MetaTrader 5

cTrader

Dialogue

Do you’ve gotten your individual buying and selling outcomes or some other remarks concerning this skilled advisor? Talk about Timed Order EA with different merchants and MQL programmers on the consultants boards.

Changelog

1.00 — 2022-09-23

• First launch of the Timed Order skilled advisor.