Example G1: Buy stop and StdDev pending price

caution

This is not a ready-to-use trading strategy. A trading strategy requires adjustment to the timeframe and symbol, along with thorough backtesting. The example is intended as a foundation for your own custom strategy and to help you get familiar with the Expert Advisor Builder web application. To import and use an example, please follow the instructions provided here.

Description

This example demonstrates buy stop pending orders with Standard Deviation-based pricing. Orders are placed above current market price using the STD indicator value, triggering only if price rises to that level. The 75-bar expiration ensures orders don't remain indefinitely if unused.

Stop orders excel in breakout strategies where traders want confirmation of upward movement before entering. By waiting for price to reach the pending level, the strategy avoids false breakouts that immediately reverse. The STD-based pricing adapts to volatility, placing orders at statistically significant levels.

Pending orders reduce slippage during fast markets by pre-positioning orders at desired levels. This proves especially valuable during news events or breakouts when immediate execution might suffer from poor fills.

Recreate the Example

You can either import this example directly or set it up manually. To manually replicate the trading module, make sure a newly added module includes the following key settings and that the professional mode is activated:

Trade Basics

• Operation type = Long

Pending Order Settings

• Mode = Stop
• Price calculation method = Indicator value
• Used indicator = STD
• Expiration = 75

Signal Generation - Indicators - STD

• Signal in use = On
• Signal used for = Forward
• Selected indicator = STD
• Draw in chart = Off
• Forward adjustment = 3.50

Signal Generation - Indicators (MACD Main line)

• Signal in use = On
• Signal used for = Entry
• Selected indicator = MACD
• Line index = Main line
• Draw in chart = On
• Drawing slot = 1

Signal Generation - Indicators (MACD Signal line)

• Signal in use = On
• Signal used for = Entry
• Selected indicator = MACD
• Line index = Signal line
• Draw in chart = On
• Drawing slot = 2

Signal Generation - Indicator Combinations (MACD Main line & MACD Signal line)

• Signal in use = On
• Signal used for = Entry
• Input indicator 1 = MACD (Main line)
• Input indicator 2 = MACD (Signal line)
• Value relation = Value 1 cross value 2

Initial Stop Loss

• Selection = Indicator
• Used indicator = STD

Initial Take Profit

• Selection = Risk ratio
• Risk ratio = 1.40

Screenshots