Metatrader 4 Tool to Improve Trading Orders

Hi Nicholishen and Pyhlo.

Thank you for your suggestions. Seems a good choice for MT users swapping the buttons, and the rev button is also a good idea. Now you have to click the CLOSE button with the default configuration and then click on the BUY/SELL button, so I could implement the execution of a Reverse order quite easily.

Thank you very much.

GO MARKETS has a platform add on (?) called "genesis" has heaps of dif ways to close orders etc etc check it out (I dont use , I like to open close all manually) SP

Hi, thank you for your comment. I have seen you need to open a live $500 account with them to opt for a license. Do you know if that license is subject to your subscription with them and if once you are not trading with them anymore the tool will still work with other metatrader stations having, at least, the same version?

Another feature.

I have tirggered a couple of trades on the wrong instrument. I will try the tool to change the instrument accoding to the one you are managing in Metatrader so that it detects clicks on the chart, chart window change, etc...

Hi,

here some ideas i had put into my own trade manager.

The 4 Lanes could be ignored because you define the trade "outside" of MT4 so can't use them to drag price for (TP, BE, OP and SL).

In the upper part the Riskdefinition is the same than yours. The lower part you can define TP,BE, SL corrsponding to the OP, e.g. if you use a fixed price of 10 pip for SL and R:R of 2 then the TP will be 20. If you have a pending order (like in your example) the SL could be less if price moves to it, so the TP will reduces accordingly to remain at R:R 1:2. The rules there are always defined price over defined range in pips and then the R:R.

Edit of tradeplan is to complex, because it includes definition of preconditions before a pending order will be placed or several levels when the manger starts trailing, adding positions or close partial.



I like the ide to have the manager outside of MT4 because you have much mor possibilities to use better tools. On the other hand you will not be able to drag price levels on the chart.
Good luck with your project

Yes, good feature, when you change the SL the TP is changed according to the predefined ratio and vice-versa. And if you change it on the chart, the other is also reduced in the same manner. I can indeed enable a hook to catch the changes in orders and if it corresponds to TP-SL levels doing, the other side can be automatically adjusted by the tool to a specific ratio. Today I have been working on a few improvements and have added also a lock.

Now the instrument displayed and managed by default on the tool is the one selected in Metatrader (it detects events coming from the metatrader charts for doing it).

The current state. The SL/TP and Rev buttons are not implemented yet.

Some thought about profit:

Does profit subtract commissions and swaps to reflect actual profit - I have some text that becomes visible when a trade is opened - > +/-12.34 || 1,234 || 1,23.45 -> lots || points || profit. I initially forgot to include coms and swaps against profit.

The profit function is directly taken from the server and it should be the difference between the initial account size and the current size.

The API also has an order object which you can call to extract other details such as ticket id, comments, commissions, etc.

In any case, I have opened an issue on the MTApi site because the profit function does not work and always returns zero, so no profit is displayed so far.

Kr.

Hi all.

Since you have been very kind to me, I would like to share the tool for free. Please read the license terms. Only for natural persons can download and use this software for free for their private purposes, including trading, of course. The software cannot be used for free by any organization nor any person on behalf of it nor for the interests of third parties without prior written agreement with me and fee payment. The terms of use are detailed in the zip setup file and within the application.

The tool is still at alpha stage. I have only devoted a few days partially to it, it is very rudimentray yet.

So, if you are an individual and not a company, you can use it for trading if you want to, but please, in accordance with the license terms I have written.

Before using it, read carefully the terms of use. It has not exception control yet, so usually any error will make the tool crash. Under normal conditions it is working fine for me, but if you close metatrader, for instance, or the charts, it will crash and you will have just to reopen it.

You will probably need to add one or two .Net Framework versions, including .Net Framework 4.6.1. I guess the programs will give you instructions.

You will also see that some features are not available yet. I have also removed a few of the previously versions because I need to refactor some code.

Please, notice that it is an executable program and installing it has risks involved, check it with your antivirus first and take the necessary precautions. I won't provide support for installing the program, but for those who get it running, please drop you questions here about how to use it.

Installation steps:
- Install MTApi - http://mtapi4.net/
- Configure Metatrader 4 for MTApi
- Open ONE chart per instrument and add the MTAPi expert advisor.
- Download and install Metatrader 4 tools.
- Open the tool (Metatrader tool).
- Connect.
- Test it fully end-to-end in demo mode first.

I hope you enjoy it.

I have written the license very fast and English is not my first language. So expect funny expressions.

Regards,
Gonzalo.

All the best. I hope you will get more feedback (but i don't think so, unfortunately).

Thank you!

The feedback received, it was enough to me.

Best regards,

Gonzalo.

Where we can find it? a must have for me...

add this to your tools..if in one pair has hedging position. then for closing all position for this pair use close by to reduce the fee.

Hi, Can you please tell me how I can get this tool for my MT4 account?
I look forward to your reply. Pete