Hello Everyone,
Does anyone know if there is an Expert Advisor or Script to control the limit order to be less then 5 PIPS for Meta Trader 4, beside of the market price?
Thank You!
I’m replying to you because I see you’ve asked this question in another section and had no response.
I’m not TOO sure what you’re asking BUT anyway (to the best of my knowledge): MetaTrader will not let you place orders (neither stop orders nor limit orders) WITHIN 5 (I always thought it was 4 but anyway) pips of the market price. This is not controlled by an Expert Advisor or script i.e. it’s either controlled by the software itself or by the broker. In other words: if YOU HAVE this limitation on YOUR trading platform at YOUR broker then an Expert Advisor or script is NOT going to solve your problem.
Of course (I HAVE to ask): why would you want to place stop or limit orders that close to the market price??? Just curious.
Regards,
Dale. (forexbrokersonline.net).
Thank You for responding back to me, the reason why I asked this question is because I’m using the Bollinger Bands in the 5 minutes time frame, and I like to place my orders the fastest possible to get further from the average line, with this 5 pips rules is very complicated, when I place my order market, most of the time it take me a few pips from the average line and I’m trying to avoid that.
Hi,
OK: I see WHY you’re needing this (I think).
Sorry: I cannot help any further.
I THINK I’m correct in my assumption that it’s either the software itself or a restriction placed by the broker but let’s see if you get some further responses.
Regards,
Dale. (forexbrokersonline.net).
I actually spoke with the Broker, and they told me with a script or EA I will be able to do it, but now I don’t know if the CSR didn’t knew what he was saying. I have my finger cross… Thank You Sir! Have a great day!
I think he may have misunderstood you too. The minimum pips for orders is controlled by the broker. If you write a script that places a limit order under that amount (5 pips in this case) the trade won’t execute. Of course you can always place a market order, but otherwise, I know of no way to do what you’re wanting.
you have to go to an ECN. they don’t have a min/max deviation. that’s just slippage. Borco offers this. if you look at MBtrading beta on their differences page, you’ll see what iI’m talking about, it’s the same as broco investor 4 platform. no minimum. it says price set by dealer. It’s 0 and it’s completely disabled and greyed out.
as stated, ECN’s do not have this restriction, but then we run into a small problem === few if any ECN’s PRESENTLY use the MT4 platform, and the EA is obviously designed for that.
mp used to talk about this VERY problem when one was looking for a broker, but few paid any attention until they, like you, NEEDED to be able to change a tp point on the fly to accomodate changing resistance areas, trend, or simply wanted to get out of the trade because of time based reversals approaching or whatever !
it is “doubtful” that most american brokers will allow you to get much closer to market price than 4 or 5 pips (some are at 15 pips) but you may find the Russians to be more obliging, with MANY of their trades being ZERO pips, and some of their more intense ones being TWO pips !
of course, considering how much Putin needs bux, would you want to send yours to Russia presently, although if youve got a connection, the English spread betters will give you the same deal as the russians.
che
“it takes a heap of living to make a house a home — it takes even more to make a fool into a forex trader — but hey, look at me now !”
I also find it weird that the ATC platform doesn’t have the maximum deviation disabled and MBT and BroCo does. but the spreads are pretty low over at ATC as people were complaining about how the new FXCM feed would ruin everything. the spread is a bit higher at broco but a scalper will sill do better there than anywhere else on MT4 at this point. just visit my home page link 
hazel
kindly expand on the statement “FXCM feed would ruin everything”
not setting up a battle, but much interested in what you have to say
che
oh what i mean was that everybody knows how when EA’s were ran over there especially FAPturbo, they would get offquotes all the time. why, i have no clue. but when ATC announced that they had to find a new feed because hotspot got out of retail FX, they said they would have to use the FXCM feed. being that FXCM is a NDD and not an ECN, people were all worried about that. but when feb 17th rolled around, those spread really dropped and my EA did much better over there than over at BroCo. But MBT beats them all hands down! just wish they would hurry because so many more things are possible with 0 pip deviation and .5-2.0 pip spread in the Asian session! no joke!
i fully understand, since i work with mp and one of his feeds comes from FXCM directly.
are you aware that FXCM feeds a slightly DELAYED feed to the world observable by watching the FXCM trading platform and the feed they send out to others ---- their trading platform is always AHEAD of their “sent out” feed !
interestingly, i will set EXACTLY the same trade on broco and FXCM and watch FXCM rake in the pips, while it takes broco literally forever to hit the same tp point, which to their credit, they actually DO, but does it ever take a long time !
the house platform of choice is rapidly becoming FXCM because mp seems to be “at one” with it ---- a lot of smiles and a LOT of pips and while he is aware that the FXCM spread is higher than MB, he LOVES the platform, and cant say i disagree as its SO user friendly.
we were in on the development (original thoughts, actually) of MB moving over to the MT4 platform, providing much feedback and phone calls when the idea was first floated, and we are VERY happy to see it come to fruition — now if the danged thing would just be released !
che
no I was not aware of that! hmm, i have the money to go with FXCM mt4 but I wish they had a demo. Broco does take a lil longer than the rest but you’re right, it will get there.
one thing that seems true concerns FXCM micro account using MT4 — in that configuration they ARE a dealing desk broker and they are capable of some unbelieveable moves on sunday open — often enough gaps that margins run screaming from the onslaught, leading one to believe that having open positions over the weekend, if you choose yea or neah, is DEFINITELY nay if you trade FXCM micro account.
too many reported problems !
che
I uploaded a EA that manages trades, you can set a Tp and SL level and it will apply the settings for all the positions of the pair you use it on. take time to understander it, its not a bad idea if you demo it …!
Jad
http://forums.babypips.com/expert-advisors-automated-trading/19103-eas-monitoring-closing-trades.html#post91066
is that the mt4 account that’s 2k to open that has those problem? if so i will stay right where I’m at until i get the 5k to trade with ATC because I do trade around 2hrs after market open on Sunday. i cannot afford some random price spike!
i must admit to a bit of stupidity as to what constitutes a “micro” account, although i believe its entry fee is below what you state.
I simply dont know what is a micro account, but have read the posts concerning and simply passing on the info.
i believe its the $500 or less account
che
oh OK. that micro account is suppose to be 25 dollars. but that’s not even mt4. but that maximum deviation should not matter or at least i don’t think it will. It always looks as if I’m not even running a TP/SL when in fact it’s just hidden.