The Pending Order EA is built around the innovative Pending Position Strategy (PPS) and integrates a robust trading algorithm. Combining elements like custom indicators, trendlines, support and resistance levels, and proprietary algorithms, this EA aims to optimize trade entries and manage positions with precision.
Core Features and Capabilities
- Advanced Trading Algorithm
At the heart of the Pending Order EA is an advanced trading algorithm designed for effective execution. This algorithm incorporates statistical data collection and slippage control to evaluate broker performance before placing trades. By identifying and mitigating issues related to broker execution, the EA ensures enhanced security and reliability for traders. - Multi-Currency Trading on a Single Chart
Simplifying the trading process, the EA allows multi-currency management from a single chart. This feature eliminates the need for multiple charts, offering a streamlined approach to managing positions across various currency pairs. - News Filter and Automatic GMT Adjustment
To avoid high-risk trades during volatile periods, the Pending Order EA includes a news filter that prevents trading during high-impact news events. Additionally, the EA adjusts for GMT time automatically, ensuring seamless operation in alignment with market timings without requiring manual input. - Averaging Strategy with Risk Awareness
While the EA avoids the high-risk Martingale strategy, it employs an averaging strategy. This involves executing multiple trades simultaneously to improve trade outcomes. Although averaging is generally less risky than Martingale, it still requires users to have a clear understanding of their risk tolerance before employing this feature.
Recommendations for Using the Pending Order EA
Account Balance: A minimum balance of $1,000 on a standard account (or an equivalent cent account) is recommended when trading 0.01 lots with three currency pairs simultaneously.
Optimal Currency Pairs: The EA is optimized for EURCHF, EURGBP, and EURUSD but can function with any currency pair.
Best Timeframes: The system performs best on H1 and H4 timeframes, though it can adapt to other timeframes as needed.
Recommend running this free forex EA on a VPS (Vultr)
Low Spread ECN account is also recommended Icmarket and Exness