Setting pending orders with the mouse.

This script allows you to quickly place pending orders in the trader's trading terminal using your mouse. This greatly simplifies the process, as you can clearly see the current price position and make any necessary adjustments.

The pending order script is a fairly convenient tool; it allows you to set not only the order itself but also the stop-loss and take-profit trigger parameters directly on the currency pair chart.

Download the pending order setup script.

You can also pre-set your preferred parameters, after which the setup will be completed in just a couple of clicks.

Basic script settings.

Position Selection – In this window, you can choose to open only long or only short positions. Long – only buy orders, Short – only sell orders. If you select Long and Short, two pending orders in opposite directions will appear on the currency pair chart.

Lots – the size of the planned trades in lots. Keep in mind that if you enter two orders simultaneously, the size must also be adjusted.

Stop-loss – here you can pre-set a stop-loss order value, which will protect your position from being completely lost.

Take-profit – the take-profit order value, which determines the profit level upon reaching which the order will be automatically closed.

Slippage – the slippage indicator, if you are trading using market execution, is set in points and displays the acceptable deviation from the set trigger price.

In addition to the settings listed above, there are a number of other parameters, but they are not as important during trading, so you can leave their default settings if desired.

Overall, the script for placing pending orders with a mouse worked quite well in MetaTrader 4. It's important to take into account a few nuances. For example, when opening a buy position, the stop-loss level cannot be higher than the order trigger price, otherwise the script will return an error.