MT4 Order Plugin: Trade by lines with risk based lot sizing

hi sangmane thanks for the reply. could you please let me know if you can take off half the poistion only? so you could have more than profit target?

are you able to solve the problems? it will be helpful for others if you can post here the real cause of the problems and the way you solve it.

Hi Sangmane,

Many thanks for sharing,works like a charm

Cheers,

Benji

Hi, Sangname,

Simply stunning. Works great on my real account.

Thank you for the contribution to the world of Forex.

Regards to all!

Hello SangMane and fellow traders,

I have a few questions and also to comment on SangMane's EasyOrder Script.
I have been using it on MBT Metatrader 4 platform as well as PFG's MT4, it is working Great on both platforms, i have been trading standard lot size instead of the risk % setting, i have set it up so it will Not ask for confirmation on entries,
So what i have is Order box and select BUY/SELL from drop down then submit=
Instant Fills, then SL and TP lines pop up on screen and i move them where i want them, this works Excellent!!! Great Job SangMane.
Then i can either let Price hit either SL or TP lines for Exit, But also i could just
hit the Close Button on Order box,it works Great either way!.
Thank You for this Great Tool. also as mentioned in the thread if you have more than one position and decide to close trade via the Close buttom you need to select Correct Order Ticket #. i think it's the same with only one trade as well.
Now, i would like to ask anyone that is Trading Real/Live Account with either
MBT or any ECN/STP MT4 Broker, have you Any Problems with this Script and what I might Need to do to change the Settings on this EasyOrder Script that SangMane has Programmed? Any Suggestions or Confirmations i Need to first do before trying this Script out on Live Account?
Thanks in advance for any replies.

I had a problem with this today.

I enterred a trade and had a SL, entry and TP set. Now when I normally put in orders I cancel the TP, since I have an EA that manages my exit.

So I went to the order and modified it, deleting the set TP which was at 1.44350 to 0.00000

When I came back my trade should've TP'd via my EA, but according to the logs, easyorder had set the TP back to 1.4435.

I quickly closed my position as I wasn't sure what else it was going to do.

Why is easyorder modifying my orders?

EasyOrder only modify SL/TP if you drag and drop something on your chart . It modifies your order's SL/TP according to the level of TP/SL lines that were drawn by EasyOrder the first time you prepare your order.

If you want to manage SL/TP levels manually or via another scripts/EA, you have to remove EasyOrder (right click - Remove window).

when I right click there's no option to remove script, is there another way without shutting down mt4?

right click on that small window drawn by EasyOrder. You'll see a pop up menu

great, cheers

Dear Sangmane,

thank you for your nice script and tiny but effective program.
Because I was thinking myself about to ask someone create a similar program + EA for me to do the same job (and luckily I was introduced to this thread by one of my friends on the net) now if you don't mind I've few suggestions in order to make this useful tool even more complete.

I'm not a programmer but I'm a full time trader and because of that I know exactly what a trader needs to simplify trading process.

It strikes me it will be very helpful if you would incorporate the following additional features into scripts and program:

1- Defining different colors for SL and TP after the position has submitted. Right now the script shows red dashed lines for both. I think it would be nicer to differentiate them by 2 separate colors .. like "Coral" for position's SL line and "LimeGreen" for TP line. Also in case of multiple open positions, every position will have it’s own separate SL and TP lines. Those lines will be deleted when that specific order is closed or market hits either stop loss or take profit order of that position.

2- Defining a text or label next to SL and TP line to show the current distance of those orders from position entry in pips. It will show the trader exactly how many pips are those orders away from the position entry. It would be very complete if you could code it in a way that when trader wants to move SL and TP line to modify them, that text or label sticks to the line and shows the live pips difference from the position's open price while the user is dragging the line up and down. It will help the trader to see visually how much pip the new SL or TP line will be away from position's open. If we are going to make everything visual, this is a very nice and effective feature if you could insert it into the codes. (I'm attaching a sample chart to show what I mean about this paragraph).

3- I would be nice if you could make the initial lines for "Stop Loss" and "Take Profit" lines become in "selected" mode on the chart so that the trader could move the line right away before he clicks "submit" button. This would be good for scalping because this way the trader will be one step ahead. What I mean exactly is when I select "buy" from drop down menu in the program, it drops 2 horizontal lines over the chart, one for SL and one for TP. I like those 2 lines become "selected" right away after creation on the chart so that I can move them to my desired place without needing to first double click them one by one in order to select them. They are just selected when they are created. This is very effective specially when dealing with market orders; pending orders don't need to be moved immediately. Trader can modify them in proper time later if they need to.

4- For the sake of trader’s security it is important sometimes to put some limitations inside a programs interface. Here, if a trader puts a high value in the %Risk field by mistake (we say %22 instead of %2) and enters the market, because the position size is calculated inside .dll file base on the value and is out of reach, then the trader will be in real trouble specially if market moves fast right away. IMHO the best approach for this issue is to use “numerical Up & Down” component instead of “textbox” for this field.



First of all it limits the trader to increase or decrease the risk value only by mouse pointer one by one and is not allowed to put any other value by copy/paste, or by keyboard. This lowers the possibility to enter illogical values for the risk by mistake or intentionally. You can also limit the maximum value of this field to be, we say 5 or 10, not allowing the user to risk more than %10 for a single position. If someone risks that much for every position it would be gambling not trading. As far as I know the main purpose of this application is to help a trader stick to clear money management rules and the second purpose is to simplify trading operations.


Another reason to use “numerical up down” instead of “textbox” is that although it’s possible to enter a value of for example %2.347 of risk in the field right now but I don’t think somebody needs to use that much precision to define the risk percentage. If a trader is dealing with a $100 account and he/she is trading micro lots, they won’t need that much precision at all. Either he risks %2 or %3 of his entire account because it won’t make sensible difference practically. For larger account though it makes sense to use fractions in %risk field but it is also adjustable if we use only one point precision. That means if a trader is trading a $200,000 account, he can put %2.3 or %3.1 of his account in risk. The numerical component can do that 1 point fraction too and it’s not so boring or cumbersome to change that 1 point fraction by clicking those small up down buttons because we don’t need to make big change to the value every time and for every position. (numerical up&down component shown in second picture).


I’m sure you are a highly experience programmer and you are perfectly aware of the components and how they work or what setting they need to do this job. I’m just putting my suggestion into precise explanation and into simple pictures for better transferring my ideas. I thank you for the nice job and also for sharing the result of your knowledge.

Hi Sangmane,

first of all thanks for your generosity; then I agree totally with the arezab post, those add-on will create a very useful tool.

My question: your script will work properly also on offline charts? I'm asking 'cause I trade often with Renko charts.

Best Regards

Hi Sangmane ....

its a great tools what i'm looking for ... nice job ...
- is it possible after closing the orders not only line cleaning but also the order arrows ... so just to make clean chart after closing order ... thanks a lot
- Is it possible to move SL and TP Line after submit order?
- agree with arezab that i can move the line directly without double click before submit
- agree with arezab different color of SL and TP
- add close all choise to close order buttom, so not only by chosing ticketing number (because of multiple entries sometimes 5 entries or more)

well done Sangmane .... nice tools

best regards,

Hi Sangmane

I started to use EasyOrder yesterday. It helps a lot.
I trade a few strategies and I like to comment my orders with the strategy names (for subsequent analysis). I have found in the Submit script how to change the text to something I like. I do like the fact that a comment is inserted automatically. Each strategy has different stop loss levels.

A thought I had was to run multiple versions of the scripts for each strategy. It seems that the call to each script comes out of the DLL, which makes it not possible (I may not have this right).

My request then would be to have a drop down box to select strategy name at time of trade and also a stop loss box to pull down the strategy stop loss.
Great work - tools is really useful as it is.

Nice work Sangmane !!!!

agree with arezab

Firstly, thankyou sangname!!! This is truly a great piece of work. Im loving it! (yes borrowed from McDonalds just in case the lawyers are looking).

Im just wondering how the system calculates (and more importantly where I could go to change it) the original stop loss/take profit the script uses when you do a straight up buy or sell order?

Yes I know you can move the lines SL/TP prior to submitting. But how is it calculating them?

A couple of times I have been caught out, submitted in my haste without adjusting and found that it has placed a large lot order based on a small SL of 12 or 13 pips, when ideally i would have liked a 25 pip SL and thus a smaller lot size.

Thanks Kindly
Clinto69

Hi Clint,

Open Easy_Draw.mq4 file in metaeditor, find these lines:
First column is for SL, second column for open price (lines[0]=0 means market price), third column for TP.
Modify the formula:
Ask+2.0*atr;
to
Ask+25*pip;

hope this help

Hi arezab,

I have modified the scripts for point 1, difference SL/TP color. Use the attached "EasyOrder.mq4". In the file, it uses Coral for SL and LimeGreen for TP. You can change the color by open the mq4 file in metaeditor and edit the following two lines:
Point 3 : there is no function in MQL to make the object in selectable mode. Come on, double clicking don't take too much time / effort / energy

Thanks for your very positive contribution for EasyOrder improvement .

sangmane

Outstanding!!!! Thank you Sangmane, works a treat.

Hi sangmane,
First of all, thanks so much for sharing a very useful addon for MT4. I'm learning C++ myself, and am trying to create my own DLL dialog in the learning process. I wanted MT4 to call up the DLL to get user inputs (e.g. Lot size, buy/sell, etc). So far only manage to get a messagebox to work. I wanted to try calling dialog boxes but my code fails. Below are sample codes (most of them from Class Wizard). Please if you can shed some light on the right way to do this. Thanks so much in advance.

HEADER FILE
==========
#ifdef _AFXWIN_H_
#endif
#include "resource.h"

class CDemoDialog : public CDialog
{
DECLARE_DYNAMIC(CDemoDialog)

public:
CDemoDialog(CWnd* pParent = NULL);
virtual ~CDemoDialog();
BOOL OnInitDialog();
// Dialog Data
enum { IDD = IDD_DEMO_DIALOG };

protected:
//virtual void DoDataExchange(CDataExchange* pDX);

DECLARE_MESSAGE_MAP()
public:
CString m_strString;
};

C++ SOURCE
==========
#include "stdafx.h"
#include "DemoDlg.h"
#include "resource.h"
#include <afxdialogex.h>

#ifdef _DEBUG
#define new DEBUG_NEW
#endif
#define MT4_EXPFUNC __declspec(dllexport)

IMPLEMENT_DYNAMIC(CDemoDialog, CDialog)

CDemoDialog::CDemoDialog(CWnd* pParent /*=NULL*/): CDialog(CDemoDialog::IDD,pParent), m_strString(_T(" "))
{
}

CDemoDialog::~CDemoDialog()
{
}

BOOL CDemoDialog::OnInitDialog()
{
CDialog::OnInitDialog();
GetDlgItem(IDC_STRING)->SetFocus();
return true;
}
BEGIN_MESSAGE_MAP(CDemoDialog, CDialog)
END_MESSAGE_MAP()

MT4_EXPFUNC void GetString(char* text)
{
AFX_MANAGE_STATE(AfxGetStaticModuleState());
CLingoDialog dlg;
dlg.m_strString = CString(String);

/******* MT4 Crashed here when it execute dlg.DoModal ********/

if (dlg.DoModal() == IDOK)
{
int nLength = dlg.m_strString.GetLength();
text = (char *)(LPCTSTR)dlg.m_strString.GetBuffer(nLength);
}
}