Forex Live limit script for MetaTrader 4

Many probably encountered a situation where the market requires instant decisions (especially true for pipsing and scalping), but the process of calculating the acceptable risk, and then placing the corresponding stop loss and take profit takes a lot of time. For these people, the problem can be solved by this script assigned to a hotkey. When started, the script finds the line with a special label (named “GO!”) on the chart and opens a limit order on the line level (if the line is above the price – a buy limit order, if below – sell limit). The lot size (Lots variable), the maximum loss by stop loss (the Money Risk variable, in deposit currency) and the profit/loss ratio (the Profit Loss variable, used as a basis for placing take profit) are set in the script settings. Based on the variable values, the script automatically calculates the values of stop loss and take profit for the current instrument and opens an order.

The script is ready to use – now by moving the line and pressing the hot key combination you can instantly open limit orders. If you want to use the ability to open orders with different lot and risk values using hotkeys – save the variants of the script with different variable values under a different name and set a hotkey for each of them.

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Forex Live limit script for MetaTrader 4B

MT4 Forex Script Characteristics

Platform: Metatrader 4

Type: Script

Time frames: any.

How to install Screenshot Script in MetaTrader 4 / MT4:

Copy and paste the live-limit-ctrlA.mql4 files into the MQL4 Scripts folder of the Metatrader 4 trading platform.

Restart your MetaTrader 4 application (assuming it’s currently open) … or Launch your MetaTrader 4 application

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Script (paste here)

On the left hand side, look for the “Navigator” window and under the “Common” tab, look into the “Scripts” section

Locate the indicator which you have just downloaded into the folder stated in Step 1

Drag (Click and drag) the Script onto the chart (when you want the task to be performed)

your task should now be executed…

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