PricerEA: Setting Pending Orders and Automatic Position Sizes

Summary

PricerEA is described as a trading utility for placing stop or limit pending orders at user-selected prices. It can calculate the lot size for each order automatically and can apply a trailing stop after a pending order is triggered; trailing stops are described as working only for market orders.

The document explains order placement relative to the current market price: buy stops and sell limits are placed above it, while buy limits and sell stops are placed below it. This is an operational description of order types and tool functions, not a trading strategy. It gives no guidance on choosing prices, sizing risk, handling execution, or assessing performance, so traders would need separate rules for those decisions.

Key ideas

• The utility places pending stop or limit orders at prices specified by the trader.
• Buy stops and sell limits are set above the current price.
• Buy limits and sell stops are set below the current price.
• The tool can calculate lot sizes and offers trailing stops for triggered market orders.

Tags

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