Example G4: Sell limit and StdDev pending price
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 uses sell limit orders to enter short positions at better prices during rallies. Orders are placed above current price, waiting for upward retracements before selling. This patient approach often achieves superior entry prices for short trades.
Limit orders for shorts work well in downtrends where rallies provide better selling opportunities. By waiting for these bounces, traders enter at resistance levels rather than chasing price lower. The STD-based pricing ensures appropriate distance from current market levels.
The combination of MACD signals and limit order execution creates a two-step confirmation process. First, the MACD must signal, then price must reach the limit level, providing double verification before position entry.
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 = Short
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
