Compact Open Orders Tool
Compact Open Orders Tool — MT5 script, supplied with source code and a compiled file. Source metadata: ID 7506: Compact Open Orders Tool Source algorithm identifier: PLACE_CONFIGURED_ORDER. Declared inputs include: SymbolOverride, MagicFilter, SlippagePoints, MaxAttempts, MaxNewOrders, LotMode, FixedLotValue, RiskPercentValue, EntryDistanceMode, EntryDistanceValue, StopLossMode, StopLossValue, TakeProfitMode, TakeProfitValue, ConfiguredOrderType, TradeMagic. Description extracted from the supplied source metadata. Compilation compatibility, runtime behavior and trading results have not been independently verified.
Script · MT5 · v1.0 · Free
About Compact Open Orders Tool
Compact Open Orders Tool is an expert advisor (trading robot) for MetaTrader 5. It places pending buy/sell stop or limit orders and can size trades from your balance and risk percent. It has 17 settings, such as Symbol override, Magic filter and Slippage points. MQL source code included.
Files in the download: Compact_Open_Orders_Tool_MT5.mq5, Compact_Open_Orders_Tool_MT5.ex5.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Symbol override | Empty uses the chart symbol; nonempty is exact, never fuzzy-matched. | |
| Magic filter | -1 | -1 means all magic numbers, still exact TargetSymbol only. |
| Slippage points | 30 | Maximum slippage allowed when opening a trade |
| Max attempts | 3 | |
| Max new orders | 10 | |
| Lot mode | LOT_RISK_PERCENT | |
| Fixed lot value | 0.10 | |
| Risk percent value | 1.0 | Risk per trade (percent of balance) |
| Entry distance mode | DISTANCE_PIPS | Distance between orders |
| Entry distance value | 20.0 | Distance between orders |
| Stop loss mode | DISTANCE_PIPS | Stop loss distance |
| Stop loss value | 50.0 | Stop loss distance |
| Take profit mode | DISTANCE_PIPS | Take profit distance |
| Take profit value | 100.0 | Take profit distance |
| Configured order type | ORDER_TYPE_BUY | |
| Trade magic | 907506 | Magic number that tells this EA's orders apart |
| Pending expiration minutes | 0 |
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 · Risk & Lot Size · MT5 Script · MQL5 Source Code