Setting 39-48: Pending Orders & Partial Closes

You can use pending orders instead of market orders. By default, the EA will make buy stops and sell stops. If you want to use limit orders instead of stop orders, please use the pip distance in minus. For instance, if you use -10 under “Pending Order Distance”, then the EA will make stop orders instead of limit orders.

Setting 39: Use Pending Orders instead of Market Orders: You can set this as “true” if you want to place pending orders instead of trades/market orders.

Setting 40: Pending Order Expiration Time (Minutes): Expiration time for pending orders (in minutes) if pending orders were selected. (Set as “0” to switch off).

Setting 41: Pending Order Distance (Pips): Distance for Pending Orders in Pips.

Setting 42: Pending Order Distance (ATR Multiplier) if ATR Based SL/TP Used: If you use ATR based stop loss and take profit, then pending order distance will also be as an ATR multiplier and the previous pending order in pips setting will be ignored by the EA. For instance, if you put 2 here, then the pending order distance will be two times the ATR distance; if the ATR was 10 pips at that time, then the pending order distance would be 20 pips.

Setting 43: Enable OCO Pending Orders: This will be effective only if you have enabled pending orders instead of market orders. If you enable this, EA will place two buy and sell pending orders from above and below from the current price at the distance/expiry specified under other pending order settings. Also, the two orders will be One-Cancel-Other (OCO). That means if one order gets activated, then the other pending order will be deleted. This can be useful if you would like to trade where your indicator signal does not work and the price goes the other way.

Setting 44-48: Partial Close Settings

You can set the EA to close a trade partially before it hits the TP along with several other options as given below. Please note partial close works only when entry price optimization (averaging) module is disabled (set both entry optimization by SL and by indicator signals as false).

Setting 44: Enable Partial Take Profit: Here you can enable or disable the partial close feature.

Setting 45: Partial Close %: This is the % closed from the current trade’s lot size. For instance, if the lot size of the on-going trade is 1 lot and partial close % is 10%, then Automater will close 0.1 and let the other 0.9 lot to run.

Setting 46: TP % to Reach for Partial Close: This defines the price point where partial close is executed. It is calculated as a % of the TP. For instance, say your TP is 100 pips and then you set this to 60%, then the partial close will be executed when you reach 60 pips in profits.

Setting 47: Move SL to Breakeven after Partial Close: If you enable this, SL will be moved to breakeven after the partial close. This would make sure you would not be losing after the partial close.

Setting 48: Remove TP after SL Moved to Breakeven: Optionally, you may remove the TP after the partial close. In this case, there will be no TP. If you use this option, we recommend you set a trailing stop under Setting 30. Otherwise, there will be no TP for the remaining portion of the trade. This may enable you to be in the trade as long as the price goes in your way.

Setting 39-48: Pending Orders & Partial Closes