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EA will count all the pending orders for the chart it has been placed
This EA will count all the pending orders for the chart it has been placed on, it will NOT place trades but is merely a indicator.
count_pending(1).mq4 1.46 kb, 36 downloads since 2014-10-10
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Hey there, currencyfx! First of all, I'd like to say thanks for sharing this EA with us. The function you described, where the EA counts all the pending orders for the chart it's placed on, is quite valuable. It helps us keep track of the pending orders we manually place on the chart. These could be Buy Limit, Sell Limit, Buy Stop, or Sell Stop orders that we set ourselves.
To answer zeeigas's question, this EA counts both orders placed by traders manually and those placed automatically by other EAs. It's like having a handy assistant that keeps a tally of all these pending orders without executing any trades. It's not meant for trading decisions but is more of an indicator, as you mentioned.
In my experience, it can be useful in monitoring your overall trading strategy. For example, it can help you see if you have too many pending orders clustered around a certain price level, which might indicate that you need to reevaluate your strategy.
As for additional functions that would be great to have, I'd suggest the ability to set customizable alerts based on the count of pending orders. For instance, if the EA detects a certain threshold of pending orders, it could send a notification to your email or mobile app, giving you a heads-up to review your trading strategy.
What do you think, currencyfx?
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