Expert Advisor Programming by Andrew R. Young

Order Placement
OrderSend(Symbol(),OP_BUYLIMIT,LotSize,PendingPrice,Slippage,BuyStopLoss,
BuyTakeProfit,"Buy Limit Order",MagicNumber,0,Green);
Note that we used OP_BUYLIMIT to indicate a buy limit order. Otherwise, our parameters are identical
to those for stop orders.
For a sell limit order, the pending order price must be greater than the current Ask price. Here's an
example of a sell limit order:
OrderSend(Symbol(),OP_SELLLIMIT,LotSize,PendingPrice,Slippage,SellStopLoss,
SellTakeProfit,"Sell Limit Order",MagicNumber,Expiration,Red);
Calculating Stop Loss & Take Profit
There are several ways of calculating stop loss and take profit prices. The most common method is to
specify the number of pips away from the order opening price to place your stop. For example, if we
have a stop loss setting of 50 pips, that means that the stop loss price will be 50 pips away from our
order opening price.
We can also use an indicator value, an external parameter or some other type of price calculation. All
we will need to do then is verify that the stop loss or take profit price is valid.
Calculating in Pips
For this, the most common method of calculating stops, we will use an external variable in which the
user specifies the number of pips for the stop loss and take profit. We then calculate the stops
relative to the order opening price.
For buy market orders, the opening price will be the Ask, and for sell market orders, the opening
price will be the Bid. For pending stop and limit orders, we assign a a valid opening price that is
something other than the current market price. We will assign the appropriate price to the variable
OpenPrice.
Here are the external variables we'll use for our stop loss and take profit settings:
extern int StopLoss = 50;
extern int TakeProfit = 100;
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