Blood & Steel Tactics - Breaking off a cavalry charge
Blood & Steel, by xenoargh, is the best mod ever made for Mount & Blade Warband.
In this video I demonstrate an efficient method of stopping a cavalry couched lance charge. It takes some fancy riding, but it can be done.
First of all, position your troops as I did, cavalry in the back, archers in middle and infantry in first line, just in case some enemies wander off.
Basically, all you have to do is draw the cavalry's attention so they will pursue you. Drive them away from your troops so they won't be hit by the dreaded couched attack. Of course, while the enemy is distracted, your archers will be able to shoot unhindered.
When you are satisfied with the diversion, order your infantry and cavalry to charge. You should win the battle with minimal losses.