What are MT4 Pending Orders?

There are two different types of pending trade orders:

These are Limit orders and Stop orders as described below:

Limit Orders on MetaTrader 4 Software

To set up these limit orders on the MT4 platform use the following procedure:

1. Right click on chart
2. Select 'Trading' Option on the Menu
3. Then Choose 'New' Order Option on Popup widow that appears
4. Then on trade setup pop up window panel that pops up (illustrated below), under label 'Type' select the option of "Pending Order" instead of 'market execution' trade order
5. Under the pending order options choose the pending order type: for This trade select "Buy Limit Order" or "Sell Limit Order" so as to put a pending limit order

Setting Limit Orders on MT4 - Set Pending Limit Orders on MT4?

Stop Orders on MetaTrader 4 Software

1. Open a Trading Trading Chart
2. Right-Click on Chart to open the Trade 'Order' Window Panel
3. On the Trade Order Panel, Select Pending Order as shown below
4. Select Pending Order Type as Buy Stop or Sell Stop Order as Shown below
5. After choosing Buy Stop Order or Sell Stop Order - Click 'Place' Order and specify the sell stop price level where the order will be opened

Steps to Setting Stop Orders on MT4