VO-Pro: Comprehensive visual order management system for MT4

Hi all,


Fantastic, my broker "Pepperstone" allows the upgrade to "Build 409".
Hanover, VO Pro works perfectly now.

Regards,

I can also confirm the VO-Pro on Build 409 GKFX/Smart Live Markets now has no issues with lag. In addition, the initial MT4 load that use to take 90 seconds or so to load (I have several monitors and a lot going on in my workspace) now loads up in about 15 seconds. Excellent all round!

Excellent! Thanks, everybody, for the feedback.

hey hanover

first of all, thx a lot for your fantastic hard work

I downloaded the new version of VO-Pro and watched all your videos for learning. Why I cant change my risk? its always 20% which is too much for me. pls advice me

Hi Felix,

Thanks for taking the time to test drive VO-Pro.

The risk is locked in the 14 day trial version.
The only acceptable values are:

 

1. 20%
2. $200
3. 2 (full lots)

This is the only limitation in the trial version. Everything else functions exactly as in the paid-for version.

Of course there is no limitation in the paid-for version. You can enter risk as any % of equity, any $ amount, or any number of lots.

David

oki thx hanover

tell me the price pls

Felix,

For (USD)$69 you can register either 3 MT4 accounts or 2 Computer IDs. Full details in the ‘How the registration process works’ and ‘Purchasing VO-Pro’ sections of this post.

David

Download v2.27 from post #1.

Version 2.27 contains new options for setting the Entry point. This can now be placed X pips above or below the point where you drop the 'VO Create New Order' script onto the chart (i.e. where you release the mouse button). This makes it possible, for example, to set your entry point a predetermined number of pips above/below a chart feature like a prior candle high/low/close. The SL and TP can likewise be set X pips above/below the drop point.

great work, many thanks for making this available for evaluation. are there any plans in the works to include indicator based trailing stops? applying something like supertrend for exits would add a lot to the bottom line.

Hi,

VO-Pro is a visual order management system, i.e. a visual way of implementing existing MT4 functions. It is not designed to 'babysit' trades while you're away from the computer. However, MT4 allows SL and TP levels that will close orders automatically, and hence VO-Pro facilitates these also. VO-Pro also allows scaling in/out through the use of multiple orders.

A number of people have asked me to add specialized trade management functions to VO-Pro. Here are some of my thoughts:

1. There are a number of trade management EAs already, e.g. MYFX ;
or if you prefer a free one, Steve Hopwood's multi-purpose trade manager.

There are also a number in this thread, and so forth. Hence if I were to develop a trade manager, I would be re-creating something that has already been done many, many times before.

2. There are so many different possible ways of managing trades. In order for a trade manager to be universally helpful and saleable, it would need to accommodate all possible approaches (example: when price reaches a certain level, what to do - close all/part of an order, move SL or TP to a different level, create new orders, delete pending orders (OCO), etc. And how many rules per order; how to modify or delete existing rules; etc etc). In keeping with VO's visual philosophy, if all this was to be attempted visually, and it was deemed to allow multiple rules (up to 6?) per order, and each rule was "what to do if price reaches this line?", the price chart would become a seething mass of horizontal lines if (for example) a rule was to create new orders; or when simultaneously modifying the rules for multiple orders.

Then there are other exit rules like moving a SL to a candle high/low, indicator-based rules, exit if an order (or basket of orders) has reached a certain pip or dollar profit, etc etc. The number of possible rules is seemingly endless.

Hence it might be better for me to simply write an EA builder, and let buyers define and implement their own trade exit rules. For better or worse, this would remove the visual element.

3. It would probably be more appropriate if any trade manager was a separate product, as it is really a different concept to VO, and it should allow management of orders regardless of whether they were created by VO or not.

4. VO is arguably complex enough already, without making it more so.

5. Eventually MT4 will die out, and MT5 will take over. Any long term software project needs to keep this in mind, especially as MT4 indicators and EAs have to be re-written, in order to run on MT5. I started work on VO-Pro last December, hence it's taken me until now to get to this point. Writing a really comprehensive trade manager (or EA builder) would probably take a similar length of time.

6. I am working full time now, probably until the end of the year. I don't have a lot of spare time now for additional software development.


Re your question about trailing stops, supposing you want two exit points (TPs) for an order, and the third part of the order to be managed by a trailing stop. You could use VO to create three orders (with the same, or different, trade risk ratios/profiles - see point #3 here), and with different TPs on the first two orders, and no TP on the third order. Then you could simply use MT4's trailing stop facility (right click on an order in the terminal) to attach a trailing stop to the third order.

David

Download from post #1.

v2.28 allows you to set the initial position of the RR text above (or below) the horizontal lines in VOConsole (see screenshot). A value of 0 means that the text will display just above the lines, as in prior versions. A positive number pushes the text upward; a negative number pushes the text downward. A value of ~ -30 will make the text appear below the line. Tip: experiment by using increments of 10.

The lines can still be tilted to further adjust the position of the text, after the 'VO Create Order' or 'VO Modify Orders' scripts have been attached to the chart. The text now moves four times more slowly.

Hi,

I am trying out this EA. Great tool!

However, the trade automatically executes when I place the EA on the cart. I do not get the chance to adjust them. What am I doing wrong?
I have not clicked auto-execute in the box.


Regards

Archie

Archie,

When you say "the EA", are you referring to the 'VO Create New Order' script? If that is so......

1. Try attaching the 'VO Cleanup' script. If asked "Do you really want to stop 'VO Create New Order' and execute 'VO Cleanup' on the chart....?" click the Yes button, and you should see a "Cleanup successful" message, within 2-3 seconds. Then try attaching 'VO Create New Order' again.

2. If this doesn't fix the problem, use My Computer to check your ..../(MT4)/experts/files folder for files named PROCEED and CANCEL. If they exist, delete them. Then return to MT4 and try attaching 'VO Create New Order' again.

3. If you are running Vista or Win7, it could be a permissions issue. You could try re-installing MT4 and (VO-Pro) somewhere other than under the Program Files folder. VOConsole needs to write files to communicate with MT4, and Vista/Win7 does not allow the writing of files in any folder under the Program Files folder. (I hate Microsoft. Grrrr!)

If none of the above solves the problem, then having auto-execute checked on is the only other reason I can think of.

--- What version of Windows (XP, Vista or Win7)?
--- Who is your MT4 br0ker?
--- What MT4 build are you running? (menu option: Help.... About....)

I will download your br0ker's MT4 and see if I can reproduce the problem.

David

Dear Hanover:
yesterday, I downloaded the trial version of your software, hoswever, we could not get it to work. I must be missing something. got part of the program, but apparently not the part that u can drag over onto the chart to execute the trade.
We may need customer service and IF it works well, we'd be happy to purchase ther program. As a Junior Member, I cannot email u directly. U can contact me by email, [email protected]

Hi,

Thank you for taking the time to test drive VO-Pro.

VO-Pro has been through extensive beta testing since February, during which time it has been downloaded over 400 times. I get very few questions, now that everything has settled down. I say this not to sound defensive, but to give you some confidence that VO-Pro does work correctly.

Please try the following:

If you're running Vista or Win7, please ensure that you do NOT have MT4 installed anywhere under the Program Files folder. Microsoft (in their infinite wisdom?!) do not allow programs to write files there. This is likely to affect other third party indicators and EAs that you might run, in addition to VO-Pro. Hence you'll need to reinstall both MT4 and VO-Pro somewhere else on your computer.

Assuming that Windows allows it to run correctly, the VOsetup.EXE installer program should create all of the necessary scripts as Favorites, and it should be easy to drag them onto any MT4 chart. See the screenshot below.

If this does not work correctly, please let me know the following:
a) What version of Windows you are running
b) Who your MT4 br0ker is
c) What MT4 build you are running (to find this, choose MT4 menu option: Help.... About....)

This will allow me to download your br0ker's MT4 and attempt to reproduce the problem that you described.

If you have any other questions, please don't hesitate to post them here. I check this thread at least twice every day.

David

Hanover....got it running...great program! However, I have a brown "V" icon box on my lower tool bar which I can open, but the executable functions like Create Order, Modify Order are in the Scripts section under Navigator, which I can drag onto the chart. I do not know how to set it up like what u have pictured. Nevertheless, I can make it work fine.

My primary question or suggestion is this: Can the program be adjusted so that by just double clicking on a line one can modify an Order without having to first open scripts and then drag a script onto the chart? This speed of doing things would be nice, especially if used as a trailing stop as an Order moves further and further in profit.

Let me know if this is possible. Great program...finally something that resembles trading "Thru the Charts" like some non-MT4 brokers have.

Thsnkd again,

Rick

This question has been asked before. There are two reasons why this is not possible:

1. The 'VO Modify Orders' script allows you to simultaneously modify the entry level (for pending orders) and the TP and SL, of multiple orders for the same pair. Let's say you had 4 pending orders for EURUSD. There would be up to 12 lines (along with the text above the lines) permanently on the price chart, which would make a confusing mess.

2. You'll notice that your computer's CPU usage skyrockets when any of the VO scripts is attached. This is somehow due to the way MT4 recalculates the positions of the lines, and the values displayed above them. Having the lines permanently on screen would cause permanently excessive CPU usage.

If you want a simpler MT4 system that allows placement of entry/TP/SL lines, and allows order modification in the way you described, you might like to try sangmane's free plug-in here. It might seem strange that I suggest this, but it's more important to me to have buyers who are 100% happy with VO-Pro, than to simply make another $69 sale.

David

One of the ways that I accomplish this is to use David's excellent program to create all my orders. Once they are executed I then attach an EA luktom visual order editor and move my SL/TP as desired.

I keep VO-Pro open so i can open other orders as required.

Hi David,

First of all I think this is the best add on for MT4 so far.. I've been testing it for a while now and definitely thinking of getting a licence soon..

I've tested it on a few clients, my problem is Alpari - UK.

Everything looks normal until I drag the VO Create New Order script on to the chart, right after I drag it, it closes the terminal, like I've pressed the close button on top right corner. It works perfectly for MT4 SigTrader but crashes on Alpari - UK. I've tried installing Alpari - UK in another folder, a fresh one, but it does the same thing. Any idea why? (btw I'm using Win7 Pro).

cheers, mem

Thank you again for such a prompt reply and explanation. Seems to make sense. However, I do scalping and RARELY have more than one open trade at a time, almost never have pending orders either. We make 2-3 trades per day, make our 10 pips per day and we're done. Your program is obviously capable of managing far more activity and understandably must function as you have designed. I like your program and it seems to work well. I even tested it with adding an EA trailing stop to the chart and they both seemed to work fine together. I will look at the other program as well and appreciate your honesty and sincere interest in fellow traders. Thanks again.