The Limit Orders expert advisor for Metatrader 4 is an automated trading software that is based on limit orders and price action.
It’s essentially a scalping robot that defines the levels present on the instrument’s chart.
These levels are then used via the EA’s algorithm to effectively utilize critical levels and price action for best entry and exit.
It calculates all levels and signals based on price movements (no lag).
This expert advisor opens positions using specific rules, which ensures that such positions are exited within the same day.
The Limit Orders EA deploys a smooth logical flow and is most effective with an underlying bias in the market.
The results look very promising, the Limit Orders EA made $10318.31 profit on the GBP/USD pair 15-Minutes chart from an initial deposit of $10000.
Default EA settings:
Stop Loss: 500, take profit: 100, lots: 0.1, time frame: 0, pips: 500
The default EA settings can be modified directly by editing the source code or changing the forex robot’s input values.
It’s highly advised to test the Limit Orders scalping EA on a demo account first before running it on a real Forex account.
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Strategy Tester Performance Report
Find below the strategy tester performance report for the Limit Orders expert advisor attached to the GBP/USD 15-minutes trading chart.
Strategy Tester Performance Highlights
The expert advisor made a total profit of $10318.31 ($10000 initial deposit) from 3131 trades during the initial testing period.
The largest winning trade generated $50.00 in profit, while the largest losing trade lost -$103.39.
See the test results report above for all details.
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Adjustable Input Parameters
Stop Loss, take profit, lots, time frame, pips.
More Info About This Expert Advisor
Recommended Currency pairs: Majors, Minors & Exotics
Trading Platform: MT4
Time frames: M5-M15
Expert Advisor Type: Scalper
Copy and paste the expert advisor in the MT4 experts data folder.
Then restart the MT4 terminal and attach it to any chart.