Timed Stop Orders with Stop-Losses and Virtual Take-Profit

Summary

The described expert advisor places buy-stop and sell-stop pending orders at specified times, using a set distance from the current price and attaching a stop-loss. Instead of submitting a take-profit order to the broker, it monitors open positions and closes them at market when profit reaches the configured target. The schedule follows the chart timeframe: on a timeframe below one hour, orders are placed at each new bar during the chosen operating hours.

The document gives an example configuration for EURUSD, including operating hours, entry distance, trade volume, and stop and target distances. It does not provide a performance report, explain how simultaneous pending orders are managed, or discuss slippage and execution conditions. The example therefore illustrates parameters and operation, but does not establish profitability or suitability across instruments and market regimes.

Key ideas

• The expert advisor places buy-stop and sell-stop orders at scheduled times.
• Each pending order uses a specified entry distance and stop-loss.
• A virtual take-profit closes an open position at market when its profit reaches the configured threshold.
• On timeframes below one hour, order placement repeats at each bar during the operating window.
• The stated example shows settings but supplies no evidence of strategy performance.

Tags

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