You know the interfaces of most trading platforms are not good when it comes to manual trading and managing multiple positions and multiple symbols at the same time. Even if you trade with automated systems, it's still very difficult to keep track of all positions in real time. And when you add the pending orders including the stops and take profit orders it really becomes a big mess.
Most trading platforms will list the orders in separate list with buttons. In MT4 you have only one list with separation between open trades and pending orders. The trades are not sorted by default. You have the basic option to sort them by symbol or other parameters but this is still useless. You don't have the most important thing - the net position for each symbol and the P/L.
The other problem is when you want to modify the pending orders and sl/tp. You have the option to input the prices manually from the list, or you have to go to the chart and drag/drop the lines. Both methods work fine if you have only one open trade on one symbol. But what happens when you have multiple trades on the same symbol or multiple symbols with multiple open trades on them and each trade has it's own pending orders attached? You have a bunch of lines on the charts and you can't figure out which line belongs to the which order. Again a big mess! And simply switching from one symbol to another multiplies the mess because you can't keep track of all orders.
All platforms have these problems. They are too complicated, the navigation is bad and the information about the positions and orders is not organized well. The most popular MT4 (and MT5) are no exception. This is the reason why we see all kinds of dashboards and apps. Many traders get frustrated with these platforms and try to make something better and more organized. Something suitable for serious trading where you can actually keep track and manage the positions in real time with ease.
So, here is one of my attempts - a simple and efficient dashboard which aims to replace the standard trading interface in MT4.
I added many options and ways in which you can configure the dashboard so it will work with almost any trading style.
Primarily it's for manual trading, but it's also suitable for tracking positions and p/l from other EA's.
By default everything is optimized for trading the standard FX28 list.
Some of the functions include:
Complete GUI configuration. Dynamic size and font adjustments plus ability to disable different parts of the interface leaving only what you need.
Account information on top. P/L, used margin, balance, equity....and quick functions to close all positions, by symbol, close only positive or negative, delete pending orders and so on.
Universal trading interface. Market orders and pending orders with drag and drop including expiration dates on time axis. Works with all types of symbols and markets. Set as one click execution for scalping mode or with confirmations by default. All orders include preset ATR or pip based SL/TP with additional point and select functions as well as drag and drop ability to modify SL/TP in bulk mode. Unlimited number of orders with one operation up to the broker limit.
Separated lists with net positions and open trades for each symbol. Again, point and close. Point and manage.....fast and easy.
Functionality for grid trading with stealth orders. Ability to execute preset strategy automatically without human intervention.
Ability to link and control multiple charts. When you click on symbol/row all charts switch to this symbol.
Bonus - Built in indicators include:
Currency Strength Meter with dynamic buttons. Shows currency strength on intraday basis. The tables/buttons are connected to the chart and can serve as symbol switchers.
Daily info. Tracks the daily range and the position of the current price in relation to the open, high and low for the day. The values are converted to ATR points.
Transparent daily candles with weekly separators and price values. Allows you to see 2 charts in one.
Alerts system based on Daily Info. You can set range level to get alerts in real time including notifications to mobile device.
MTF ATR Channels serving as trend/momentum indicator as well as time frame switch. You see the trends as they happen. You see what's moving and how strong at any time if the option is enabled.
Chop Index. Measures the smoothness of the daily price curve.
Navigation as standard include point and click, drag and drop, and hot keys.
More information and details will be presented in future posts.
Some screenshots and video:
https://www.youtube.com/watch?v=GMuuEhcNNCA
Most trading platforms will list the orders in separate list with buttons. In MT4 you have only one list with separation between open trades and pending orders. The trades are not sorted by default. You have the basic option to sort them by symbol or other parameters but this is still useless. You don't have the most important thing - the net position for each symbol and the P/L.
The other problem is when you want to modify the pending orders and sl/tp. You have the option to input the prices manually from the list, or you have to go to the chart and drag/drop the lines. Both methods work fine if you have only one open trade on one symbol. But what happens when you have multiple trades on the same symbol or multiple symbols with multiple open trades on them and each trade has it's own pending orders attached? You have a bunch of lines on the charts and you can't figure out which line belongs to the which order. Again a big mess! And simply switching from one symbol to another multiplies the mess because you can't keep track of all orders.
All platforms have these problems. They are too complicated, the navigation is bad and the information about the positions and orders is not organized well. The most popular MT4 (and MT5) are no exception. This is the reason why we see all kinds of dashboards and apps. Many traders get frustrated with these platforms and try to make something better and more organized. Something suitable for serious trading where you can actually keep track and manage the positions in real time with ease.
So, here is one of my attempts - a simple and efficient dashboard which aims to replace the standard trading interface in MT4.
I added many options and ways in which you can configure the dashboard so it will work with almost any trading style.
Primarily it's for manual trading, but it's also suitable for tracking positions and p/l from other EA's.
By default everything is optimized for trading the standard FX28 list.
Some of the functions include:
Complete GUI configuration. Dynamic size and font adjustments plus ability to disable different parts of the interface leaving only what you need.
Account information on top. P/L, used margin, balance, equity....and quick functions to close all positions, by symbol, close only positive or negative, delete pending orders and so on.
Universal trading interface. Market orders and pending orders with drag and drop including expiration dates on time axis. Works with all types of symbols and markets. Set as one click execution for scalping mode or with confirmations by default. All orders include preset ATR or pip based SL/TP with additional point and select functions as well as drag and drop ability to modify SL/TP in bulk mode. Unlimited number of orders with one operation up to the broker limit.
Separated lists with net positions and open trades for each symbol. Again, point and close. Point and manage.....fast and easy.
Functionality for grid trading with stealth orders. Ability to execute preset strategy automatically without human intervention.
Ability to link and control multiple charts. When you click on symbol/row all charts switch to this symbol.
Bonus - Built in indicators include:
Currency Strength Meter with dynamic buttons. Shows currency strength on intraday basis. The tables/buttons are connected to the chart and can serve as symbol switchers.
Daily info. Tracks the daily range and the position of the current price in relation to the open, high and low for the day. The values are converted to ATR points.
Transparent daily candles with weekly separators and price values. Allows you to see 2 charts in one.
Alerts system based on Daily Info. You can set range level to get alerts in real time including notifications to mobile device.
MTF ATR Channels serving as trend/momentum indicator as well as time frame switch. You see the trends as they happen. You see what's moving and how strong at any time if the option is enabled.
Chop Index. Measures the smoothness of the daily price curve.
Navigation as standard include point and click, drag and drop, and hot keys.
More information and details will be presented in future posts.
Some screenshots and video:
https://www.youtube.com/watch?v=GMuuEhcNNCA
