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Visual TP & SL

  • #1
  • First Post: May 8, 2008 3:16am May 8, 2008 3:16am
Hello everyone,

If you're tired of typing TP & SL values when setting or modifying orders, I've created a simple tool that enables you to set these values using a drag&drop technique.
From now on I rarely use my keyboard using MT4

Check manual in the next post for better understanding.

It's a script so copy the attached file to /experts/script folder.

I hope you'll find it useful.

Cheers,
Pr1mer
Attached File(s)
File Type: mq4 VisualTPSL.1.0.mq4   3 KB | 1,224 downloads
  • #2
  • Edited 3:30am May 8, 2008 3:17am | Edited 3:30am

  1. If you don't have an order(s) (open or pending), create one with any TP & SL values - you'll adjust them visually - fig. 1.
  2. Drag script onto the chart.
  3. Two horizontal lines should appear covering your TP & SL values (sometimes click on the chart is needed for refresh) - fig. 2.
  4. Move lines to adjust TP/SL values - fig. 3.
  5. After a while a corresponding TP/SL value will be adjusted - fig. 4.
  6. You can make as many changes as possible. It doesn't act like a typical script - it has a loop in which the script waits for line shifts.
  7. When you've finished setting TP & SL values, remove one of the lines and the script will terminate removing the remaing lines (a click on the chart may be needed to refresh it).

If you have any questions, don't hesitate to ask.

Pr1mer

Attached Images
  • #3
  • Dec 17, 2008 12:30am Dec 17, 2008 12:30am
This is really a good tool for people as lazy like me. Thanks a lot!
  • #4
  • Dec 17, 2008 12:33am Dec 17, 2008 12:33am
If pending order modification can be supported, it would be perfect.
  • #5
  • Dec 19, 2008 9:15am Dec 19, 2008 9:15am
Quoting xecret
If pending order modification can be supported, it would be perfect.
Thanks!

I used that a lot when I traded with MT4 (I've changed brokers now) and I also missed pending orders modification feature.

I'll see what I can do.
  • #6
  • Dec 29, 2008 4:56pm Dec 29, 2008 4:56pm
Quoting Pr1mer
Thanks!

I used that a lot when I traded with MT4 (I've changed brokers now) and I also missed pending orders modification feature.

I'll see what I can do.
Hello Pr1mer, I was thinking if it is possible for you to write an EA for it which simplifies things and has many advantages over using a script. I've posted my idea with full explanation in the address below. I'd appreciate if you take a look.

http://www.forexfactory.com/showthre...90#post2441490

Thanks
Discipline + Patience - Fear - Greed = Success
  • #7
  • Dec 30, 2008 7:23am Dec 30, 2008 7:23am
Quoting arezab
Hello Pr1mer, I was thinking if it is possible for you to write an EA for it which simplifies things and has many advantages over using a script. I've posted my idea with full explanation in the address below. I'd appreciate if you take a look.

http://www.forexfactory.com/showthre...90#post2441490

Thanks
Hi arezab, my script does a lot of things you need. There are no predefined TP and SL values when placing orders, labels on lines and no error handling for prices too close to market. But these are the details.

The main issue is with EA. When starting the work I was considering pros and cons of EA vs script. EA has 2 major drawbacks:
- It is run every tick. So in times of a market slowdown, when there's no move for some time your TS/SL modifications wouldn't be effective till the next tick. Script on the other hand is refreshed every defined period of time (I could set a variable to make it modifiable).
- EA looses all the information when changing the timeframe. I'm not 100% sure if that happens to a script as well.

However, if you need EA, I may consider releasing VirtualTPSL with these features in two versions: EA and script.

Cheers,
Pr1mer
  • #8
  • Last Post: Dec 30, 2008 9:08am Dec 30, 2008 9:08am
Quoting Pr1mer
Hi arezab, my script does a lot of things you need. There are no predefined TP and SL values when placing orders, labels on lines and no error handling for prices too close to market. But these are the details.

The main issue is with EA. When starting the work I was considering pros and cons of EA vs script. EA has 2 major drawbacks:
- It is run every tick. So in times of a market slowdown, when there's no move for some time your TS/SL modifications wouldn't be effective till the next tick. Script on the other hand is refreshed every defined period...
Hi

Pr1mer I'm grateful for your explanation. I already downloaded and used your script and it is very nice and works fine. I just said EA because I thought it would be useful this way that the sl and tp would be set automatically as soon as the trader opens a position and also put those red and green lines on chart ready for manipulation. I don't know if a script can do these.

BTW I didn't know things you mentioned about cons and pros between them. I'm not a programmer so I thought an EA might be better ... but If you could add a predefined SL and TP it would be nicer ... JMHO

Thanks for your attention my friend.
Discipline + Patience - Fear - Greed = Success
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