by 
This MetaTrader expert advisor functions as a trade manager that automates stop loss adjustments for existing positions. It specifically waits until a trade reaches a user-defined profit threshold in points before initiating a trailing stop. The tool includes flexible filtering options to manage specific symbols, magic
Trade manager · MT5
Pending Replacer EA
This MetaTrader 5 expert advisor manages trades on synthetic instruments like Range Break indices.
GitHub stars2
Forks0
Last update3 years ago15 Sep 2023
LicenceNone stated
Overview
Pending Replacer EA functions primarily as a trade manager that monitors price spikes to trigger the closing of open positions. The utility includes risk management filters, allowing the user to target specific orders using magic numbers or unique comment strings. It is specifically tailored for markets where rapid price spikes are common, providing a mechanism to exit trades when certain volatility thresholds are met. The repository contains minimal documentation and includes logic for spike detection and range monitoring.
- Custom comment filtering
- Magic number trade identification
- Spike-based order closure
- Range Break index compatibility
Details
Author
devin-burbach on GitHub
Type
Trade manager
Platform
MetaTrader 5 (MQL5)
Markets
Indices
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from Pending_Replacer_EA demo3.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Filter_Comment | bool | false | Use Comments Filter |
Comment_Str | string | | Filter Text |
Magic_Number | int | 4667780 | Magic Number |
Slippage | int | 5 | Slippage |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone devin-burbach/MT5_project_Narashimman from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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