TypePendingOrderTriggered
This EA places pending orders (Buy Stop and Sell Stop) at a user-defined distance from the current price, triggered when price breaks out of a range. It manages the pending orders by modifying or deleting them based on market conditions and includes basic risk management with stop loss and take profit settings.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
This EA employs a breakout strategy by placing Buy Stop and Sell Stop pending orders at a user-defined distance above and below the current price, triggering entries when price breaks through these levels. Entry conditions are based on price exceeding the configured distance threshold, with pending orders automatically executing upon breakout. Exit conditions rely on fixed stop loss and take profit parameters without any dynamic trailing stop mechanism. Position sizing is handled through a direct lot size parameter without dynamic scaling based on account balance or equity. Money management is limited to stop loss and take profit ratio control, lacking maximum position limits or account risk percentage constraints. The overall strategy logic is straightforward and suitable for trending breakout markets, but may suffer frequent stop-outs in ranging or choppy conditions.
Strengths
- Simple and clear strategy logic, easy to understand and tune parameters
- Pending order approach avoids frequent entries in ranging markets, only entering after breakout confirmation
- Supports both buy and sell pending orders, capturing breakout opportunities in both directions
Weaknesses
- Lacks dynamic position sizing; fixed lot size cannot automatically adjust based on account risk
- Pending orders are easily triggered then stopped out in choppy markets, causing consecutive losses
- No trailing stop or dynamic take profit feature to lock in floating profits
Possible improvements
- Add dynamic position sizing based on account balance, automatically adjusting lot size by risk percentage
- Incorporate ATR indicator to dynamically set pending order distance and stop loss/take profit, adapting to market volatility changes
Risk assessment
Overall risk: Medium
- Fixed lot size does not scale with account size, large positions may cause excessive single-trade losses
- No maximum position limit or maximum drawdown protection, risk becomes uncontrolled during consecutive losses
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
Distance | 300 | Pending order distance from current price in points |
StopLoss | 500 | Stop loss in points, limits max loss per trade |
TakeProfit | 700 | Take profit in points, locks profit target per trade |
Lots | 0.1 | Trading lot size |
MagicNumber | 123456 | Magic number for closing, 0 for all positions |
OrderType | both | Pending order type: buy, sell, or both |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.