Attach Re Entry Order At Stop Level
A stop loss protects capital, but a stop hit by a shakeout - a brief spike through the level followed by the market resuming the original direction - also ends the trade at exactly the wrong moment. This script attaches a pending re-entry order at each matching position's own stop-loss level, so that if the stop-out happens and price later trades back through that level in the original direction, a new position opens automatically to catch the continuation. The mechanics are simple but the placement matters: the re-entry is a stop order, not a limit, and it sits just beyond the ORIGINAL stop-loss price on the triggering side - above it for a buy re-entry, below it for a sell re-entry. Only price trading back past that level fills it, which is what distinguishes a genuine recovery from the shakeout still being in progress. Placing the re-entry any closer would trigger while the shakeout is still underway, defeating the point. Each re-entry carries its own protective stop, placed the same distance behind its new entry as the trigger buffer, and an optional expiry so a re-entry that never triggers does not sit in the book forever. Running the script again on a book that already has re-entries attached does not stack duplicates - each pending order's comment records which original ticket it belongs to, and a position already covered is left alone. Notes and limitations - A position without a stop loss has nothing to build a re-entry from and is skipped outright - the script never invents a level. - The re-entry is attached to the position's stop-loss level at the moment the script runs. If the stop is moved afterwards - by hand, or by another script such as a trailing stop - the existing re-entry order is NOT moved with it; run this script again to relocate it, after removing the stale one if it has not triggered. - If the original position is closed normally (target hit, manually closed) rather than stopped out, the re-entry order is left in the book and can still trigger on its own, opening a fresh position unrelated to any existing exposure. Remove it by hand if that is not wanted. - Lot sizing when InpUseFixedLots is false copies the ORIGINAL position's current size, not any resized amount from a partial close. - This script only ever adds one re-entry order per source position per run; it does not build a multi-level ladder of re-entries.
Script · MT5 · v1.0 · Free
About Attach Re Entry Order At Stop Level
Attach Re Entry Order At Stop Level is an expert advisor (trading robot) for MetaTrader 5. It places pending buy/sell stop or limit orders. It has 9 settings, such as Buffer pips, Use fixed lots and Fixed lots. MQL source code included.
Files in the download: AttachReentryAtStop.ex5, AttachReentryAtStop.mq5, AttachReentryAtStop.txt.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Buffer pips | 3.0 | Extra distance beyond the stop-loss level, pips |
| Use fixed lots | false | Use InpFixedLots instead of matching the original position's size |
| Fixed lots | 0.10 | Lot size used when InpUseFixedLots is true |
| Expiry hours | 0 | Pending order lifetime in hours (0 = good till cancelled) |
| Magic number | 20600 | Magic number tagged on the re-entry orders |
| Current symbol only | false | Restrict to this chart's symbol |
| Magic filter | -1 | Only rebuild for positions carrying this magic (-1 means every magic) |
| Max retries | 5 | Attempts per order before giving up |
| Retry wait ms | 500 | Pause between attempts, milliseconds |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Experts.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Pending Orders · MT5 Script · MQL5 Source Code