Example G2: Buy limit 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 shows buy limit orders for entering at better prices during retracements. Orders are placed below market price using STD indicator values, waiting for pullbacks before entering long positions. This patient approach often achieves better entry prices than immediate market orders.

Limit orders suit range-trading strategies where price oscillates between boundaries. By placing orders at the lower boundary, traders enter at optimal levels within the range. The STD-based pricing ensures orders adapt to current volatility conditions.

The 75-bar expiration prevents old orders from triggering after market conditions change. This temporal limit maintains strategy relevance, ensuring orders reflect recent market analysis rather than outdated signals.

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 = Limit
• 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