Moving Average and Envelope Pending-Order Grid Expert Advisor

Summary

This Expert Advisor uses moving average and Envelopes indicators to place pending buy and sell orders. It operates only when a new bar appears and limits order placement to a configured time window. The system can maintain up to three pending orders in each direction, with separate magic numbers used to identify the individual orders. If pending orders remain after the configured end hour, the advisor removes them.

The description states that the advisor is intended for hedge accounts and prohibits netting accounts. It gives EURUSD on a five-minute chart as the default setup, but provides no entry formulas, parameter values, exit logic, performance results, or risk statistics in the supplied text. As a result, readers can learn the order management structure and operating constraints, but cannot reconstruct or evaluate the full trading method from this description alone. The presence of a grid of pending orders also makes exposure and fill behavior important considerations, yet these are not analyzed here.

Key ideas

• The advisor combines moving average and Envelopes indicator data to manage pending orders.
• It can place up to three pending orders on each side of the market.
• The system only processes on new bars and applies a configurable trading-time window.
• Unfilled pending orders are removed after the configured end hour.
• It is described for hedge accounts and excludes netting accounts.
• The supplied description omits precise entry rules, exits, and evidence of performance.

Tags

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