Managing Trades with Virtual Stops and a Trailing Pending Order

Summary

The document describes a MetaTrader 4 expert advisor for managing a chart symbol’s open trade with virtual stop loss and take profit levels. It also outlines a virtual pending order that can use a trailing stop. The stated workflow initializes the levels, checks them on each price tick, and closes the position if price reaches a virtual exit level.

The description says the advisor adjusts levels when spread exceeds a threshold and can place the trailing pending order when price reaches its target. It gives no parameter values, code details, tests, or performance evidence, so the behavior cannot be independently assessed from this account. Virtual levels also depend on the advisor running and receiving price updates; the document does not discuss what happens during disconnection, execution delays, or gaps.

Key ideas

• The advisor initializes virtual stop loss, take profit, and pending order prices when attached to a chart.
• It checks price levels on each tick and closes a position when a virtual exit level is reached.
• An optional trailing stop is associated with a virtual pending order.
• The description provides no evidence about reliability or trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.