This risk management tool for MetaTrader 4 and 5 calculates optimal lot sizes based on user-defined risk parameters, account balance, and currency. It provides a graphical user interface for setting entry, stop loss, and take profit levels visually on the chart. The expert advisor accounts for commissions, swaps, and m
Utility · MT4 · MT5
Timed Order
Timed Order is a utility expert advisor that schedules market or pending orders to be executed at a specific time.
GitHub stars10
Forks2
Last update1 year ago13 Jan 2025
LicenceApache-2.0
Latest release1.021 year ago
Overview
Timed Order supports one-time execution or daily recurring trades on specified days of the week. The EA allows setting stop-loss and take-profit levels using fixed prices, point distances, ATR multipliers, or spread multiples. It includes a position sizing module based on account equity, risk percentage, or fixed monetary amounts. Additional risk controls feature maximum spread limits, slippage controls, and optional price conditions before execution. It operates on both MetaTrader 4 and MetaTrader 5 platforms.
- Scheduled order execution
- Daily recurring trade scheduling
- ATR and spread-based stop-loss
- Percentage or monetary risk sizing
- Maximum spread and slippage checks
Details
Author
EarnForex on GitHub
Type
Utility
Platform
MetaTrader 4 (MQL4) and MetaTrader 5 (MQL5)
Markets
Any symbol
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
Topics
calgocbotctraderexpert-advisorforexmarket-ordermetatrader-4metatrader-5mql4mql5
Input parameters
Read from TimedOrder.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
OrderTime | datetime | __DATETIME__ | Date/time (server) to open order |
OrderType | ENUM_BETTER_ORDER_TYPE | BETTER_ORDER_TYPE_BUY | Order type |
Entry | double | 0 | Entry price (optional) |
EntryDistancePoints | int | 0 | Entry distance in points (for pending) |
StopPrice | double | 0 | Stop price (for Stop Limit orders) |
SLType | ENUM_SLTP_TYPE | SLTP_TYPE_PRICELEVEL | Stop-loss type |
StopLoss | double | 0 | |
TPType | ENUM_SLTP_TYPE | SLTP_TYPE_PRICELEVEL | Take-profit type |
TakeProfit | double | 0 | |
TimeType | ENUM_TIME_TYPE | TIME_TYPE_SERVER | Time type |
Expires | datetime | 0 | Expires on (if pending) |
Retries | int | 10 | How many times to try sending order before failure? |
Show all 40 inputs
| Name | Type | Default | Description |
|---|---|---|---|
MaxDifference | int | 0 | Max difference between given price and market price (points) |
MaxSpread | int | 3 | Maximum spread in points |
RetryUntilMaxSpread | bool | false | Retry until spread falls below MaxSpread? |
Slippage | int | 30 | Maximum slippage in points |
ATR_Timeframe | ENUM_TIMEFRAMES | PERIOD_CURRENT | ATR Timeframe |
ATR_Period | int | 14 | ATR Period |
UsePriceCheck | bool | false | |
PriceSymbol | string | | PriceSymbol: Empty = current |
AboveOrBelow | ENUM_INEQUALITY | LESSTHAN | |
Price | double | 0 | |
DailyMode | bool | false | Daily mode: if true, will trade every given day. |
DailyTime | string | 18:34:00 | Time for daily trades in HH:MM:SS format. |
Monday | bool | true | |
Tuesday | bool | true | |
Wednesday | bool | true | |
Thursday | bool | true | |
Friday | bool | true | |
Saturday | bool | false | |
Sunday | bool | false | |
CalculatePositionSize | bool | false | CalculatePositionSize: Use money management module? |
FixedPositionSize | double | 0.01 | FixedPositionSize: Used if CalculatePositionSize = false. |
Risk | double | 1 | Risk: Risk tolerance in percentage points. |
MoneyRisk | double | 0 | MoneyRisk: Risk tolerance in base currency. |
UseMoneyInsteadOfPercentage | bool | false | |
UseEquityInsteadOfBalance | bool | false | |
FixedBalance | double | 0 | FixedBalance: If > 0, trade size calc. uses it as balance. |
AlertsOnSuccess | bool | false | Alert on success? |
AlertsOnFailure | bool | false | Alert on failure? |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone EarnForex/Timed-Order from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.
- 3Copy the filesCopy the .mq4 / .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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