Instant execution is becoming something old school and so is manual trading nowadays. Thanks to Jiagi Lee you can download the Best Buy stop Sell stop EA batch for free.
AtoZForex does not hold any copyright for the best buy stop sell stop ea batch, nor we have the source codes for the files. However, we would like to share our respect to the original coders who made these files available for everyone. Here we go!
First thing first, do you know the difference between Buy Stop and Buy limit? If you don't I highly would recommend you to study Buy limit and Buy stop difference in Forex
Script to open Buy Stop/Sell Stop
The first one is a simple script to open Buy Stop/Sell Stop.
This Buy Stop Sell Stop script automatically set Buy Stop/Sell stop when an open position (Buy or Sell) has been executed.
This buy stop sell stop script has a simple logic. Let’s assume the following scenario:
You have just placed a Long position (Buy order) with an instant order or pending order. The Script to open Buy Stop/Sell Stop
will then run to place sell stop order below the recent buy position which is still open.
Say, on EURUSD you have a opened a buy order at 1.1230 last night. Your EA which is a simple script to open Buy Stop/Sell Stop
will run to set a sell stop order at 1.1210. You can manage these parameters in your input orders for the Buy Stop Sell Stop EA.
You can adjust the input easily. Simply, change the pip interval between the price of your open order and buy/sell stop order you wish to plot.
PZ Progressive - Best Buy Stop Sell Stop EA
Similar to the first Buy stop Sell Stop EA, PZ Progressive Buy Stop Sell Stop EA
will scale-in your trades. This will happen as the price action will run in your favor.
Progressive Buy Stop Sell Stop EA uses also a risk management for you. The Buy Stop Sell Stop EA will allocate 2% to your first entry and the following pending orders will have lower lot sizes in order to avoid over leveraging. The Progressive Buy Stop Sell Stop EA uses Stop loss based on ATR (average true range). The default number is ATR(30) multiplied by 2 from the entry price.
Meanwhile the three pending entries have ATR(30)/2 distance between each other.
Progressive Buy Stop Sell Stop EA also comes with a script to delete the pending orders if you are ahead of important news or so.