Open Order With Trade Management Script
The Open Order With Trade Management script for MT4 is a well-optimized automated trading tool that enables the management and execution of both pending and instant market execution orders in the market.
Description
The Open Order With Trade Management script for MetaTrader is a well-optimized automated trading tool that enables the management and execution (both pending and instant market execution orders) of trades. It is one of the best scripts for MT4 that would help you to effectively plan and manage your trade position with a less hassle.
The script comes with some inbuilt features like the Take Profit/Stop Loss calculator and the Lot size tab; they play an important role in trade execution and risk management. So, in essence, with a mouse click, you can easily place a buy/sell (pending/instant market execution) order with an appropriate lot size and a Take Profit/Stop Loss.
Furthermore, the script is well suited for novice, intermediate, and advanced forex traders. Moreover, novice traders may find it even more instrumental in their day-day trading because it handles the calculation of the pips for Take Profit/Stop Loss.
How to Use The Open Order With Trade Management Script
The above image depicts the script on an AUDUSD pair. To open a sell order at the current market price, for instance, you simply open the script from the ‘scripts’ folder by dragging it to your MT4 chart. Now, open the ‘inputs’ tab and then select the type of order (sell, for instance), type a Stop Loss/Take Profit, and lot size for the intended order.
The above image shows a running sell position opened by the script. It shows a Stop Loss of 100 pips and a Take profit of 200 pips as specified in the previous image above.
Note that the ‘Auto Trading’ function is recommended to be enabled before running the script.
Conclusion
The Open Order With Trade Management script for MT4 is a trading tool that automates buy/sell orders with appropriate Stop Loss/Take Profit and lot size. Finally, you can download it for free.