Open Order Script

Open Order Script

The Open Order script for MetaTrader is a custom tool that automates the buy/sell process of a financial asset.

The Open Order script for MetaTrader is a custom tool that automates the buy/sell process of a financial asset. This in turn helps to make forex trading even more efficient and less tedious. Besides automating the buy/sell order of an asset, it is also equipped with appropriate tools to help you manage your risk in the market.

The script allows you to specify the percentage of your account size that you want to risk per trade and the Take Profit/Stop Loss. This makes it suitable for all categories of forex traders, especially novices/beginners that still struggle with risk management and lot size calculation.

How to Use the Open Order Script

The above image depicts how to use the script on an MT4 platform. Let’s assume you want to buy the AUDUSD pair, for instance; you’ll need to first drag the script to your chart. Afterward, specify the percentage you’re willing to risk, enter the Stop Loss/Take Profit pips, in the ‘input tab, and then launch it.

The above image shows the aftermath of the script’s action. It shows a running buy trade of 1 lot size which represents a 2% risk of the current account size. Furthermore, it also shows the Take Profit and Stop Loss (in pips) as stipulated in the ‘input’ tab of the script.

Conclusion
The Open Order script for MT4 is a simple forex trading tool that automates buy/sell trade, lot size calculations, and Take Profit/Stop Loss. Finally, it is free to download.