VO-Pro: Comprehensive visual order management system for MT4 | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MT4 Order Pending Order/Order Modify Issue 1 reply

LUKTOM visual order editor unusable since 8/5 update of MT4 2 replies

Visual Trade (place order using horizontal lines on the chart) 4 replies

Alpari Direct Pro vs Alpari MT4 Pro 4 replies

Visual backtest result different from non-visual backtest 0 replies

Attachments: VO-Pro: Comprehensive visual order management system for MT4
Exit Attachments

VO-Pro: Comprehensive visual order management system for MT4

  • #701
  • Jul 10, 2012 3:04pm Jul 10, 2012 3:04pm
Quoting faxman
Works perfectly, great ! Thanks again.
That's great.
  • #702
  • Jul 11, 2012 11:47am Jul 11, 2012 11:47am
Hi there , why is that every time I upgrade to a new version I have to create again my pre-sets. Is there any way to tellVO pro to keep the existing configuration files.

Thanks
  • #703
  • Edited 5:20pm Jul 11, 2012 4:40pm | Edited 5:20pm
Quoting Forexaccount
Hi there , why is that every time I upgrade to a new version I have to create again my pre-sets. Is there any way to tellVO pro to keep the existing configuration files.

Thanks
Hi,

Any NEW presets that you create are saved as a file VO-<preset name>.SAV in the .....(MT4)/experts/files folder. These files don't get overwritten when you install a new version.

However, if you change the factory supplied presets (market buy, pending sell, etc), then these do get overwritten when you perform the install. Hence (assuming this is the problem) what I suggest that you do is load each of the 6 factory presets, and save each one under a new name, e.g. save 'market buy' as 'mkt buy', 'pending sell' as 'pdg sell', etc. Then you can change these new presets however you wish, and they won't ever get overwritten, no matter how many new versions are subsequently installed.

To save a preset as a different name (see the attached screenshot):
1. Load the preset. I have loaded 'market buy'
2. Make any changes that you wish, to any fields on VOConsole's extended window.
3. Type the new name in any of the 9 preset slots, as shown in the screenshot. I have called it 'mkt buy'
4. Click the SAVE button and then YES to confirm.
Then the new preset should appear in the dropdown list.

The list of preset names in the 'Preset buttons' area is loaded from a file named VOpreset.INI (also in the .....(MT4)/experts/files folder). Sorry, but this file currently does get overwritten when a new version is installed. You could copy this file to another folder, perform the installtion, and then copy it back. But it's probably quicker and simpler to simply reselect your desired presets from the dropdown lists.

David
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-07-12_0931.png Size: 96 KB
  • #704
  • Jul 16, 2012 9:56am Jul 16, 2012 9:56am
David, I'm trying out TM, but can't seem to bend it to my will.

I place two orders on a chart, one either side of price. The strategy calls for each order to remain open until the other closes (normal OCO will cancel the order when the other opens, I know).

So here's a snapshot of four pairs (the fifth is the disabled order I clone). As far as I read it, for each line, TM is saying:

If either order (">=1") closes ("C"), then TM will attempt to close both orders ("SELECTED"), which really means the other order.

It's not working. One order closes normally as it hits TP, but nothing happens to the other order.

Any clues what I could be doing wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: TM-OCO.png Size: 8 KB
  • #705
  • Jul 16, 2012 10:06am Jul 16, 2012 10:06am
Pardon my newbie question...
With MT4, when you place a pending order, MT4 won't accept it if it is too close to current price. I think the limit is some 15 pips, right?

Can TM, or VO-Pro, overcome that? Can I get it to monitor price, and actually place a market order if price is achieved?
  • #706
  • Edited 2:55pm Jul 16, 2012 2:44pm | Edited 2:55pm
Quoting idempotent
Pardon my newbie question...
With MT4, when you place a pending order, MT4 won't accept it if it is too close to current price. I think the limit is some 15 pips, right?

Can TM, or VO-Pro, overcome that? Can I get it to monitor price, and actually place a market order if price is achieved?
Hi,

At last, some feedback on TM.

I believe the limit varies from br0ker to br0ker, and possibly from pair to pair. I've been testing VO/TM on Pepperstone, and if I recall correctly, I've been able to place pending entries a lot closer than 15 pips from market price. I'll try again later today.

Anyway, currently neither VO nor TM can overcome it, but I plan to introduce a 'Create New Order' TM action in v3.10.

I can't see anything obviously wrong with your rules in post #704. It's quite possible that you've found a bug. I will run some tests myself today, and post the results here. Meantime, please double check that you have VO Monitor EA running (on any ONE chart), and that its counter is ticking over; and also that you closed TM's Rules List window (so that the rules get posted to the VO Monitor EA).

Best wishes,
David
  • #707
  • Jul 16, 2012 3:46pm Jul 16, 2012 3:46pm
David,

I have used VO/TM successfully on Alpari Pro account. I had to play around for a while to figure out how to make my rules do what I want but it was not too difficult.

I also went in and changed your templates to reflect my default values so I could execute them quicker without having to type anything in the boxes. From there it was relatively easy to see the syntax for your templates.

I am now in the process of creating various multiple step templates.

The only real issue I have is that I fundamentally use the same rules for each trade. I have 4 rules per trade where the last rule is a trail. I delete the first 3 rules upon execution but leave the trail rule to continue. No problem.

If I have multiple trades on then it can become a problem and so I have to design a template that catches a magic number as when i close 1/2 I lose the order number. I tried Comments but all H4 trades have the same comments.

Not too difficult but have to capture the logic so magic numbers are not duplicated.
  • #708
  • Jul 16, 2012 3:55pm Jul 16, 2012 3:55pm
Quoting idempotent
Any clues what I could be doing wrong?
Idem,

There's one small error in your logic. Please don't feel discouraged in any way — it took me more than 30 minutes of debugging before the light dawned.

Let's take an example where the order numbers are 111 and 222. Let's assume that order# 111 has already closed, now you want your rule to close order# 222. However, the key is that, to be SELECTED, an order must currently exist in a state specified by your Order States entry (even though it doesn't need to MEET any "Criteria" that you enter). The problem is that order# 222 is currently open, but you've stated that SELECTED orders are closed. Hence only order #111 appears in TM's SELECTED order list, and consequently the action of CLOSE SELECTED orders is not performed on order# 222.

Hope that makes sense. It's certainly incredibly tricky! I'm afraid it's a scenario that I failed to consider when I was designing TM. Many thanks for pointing it out.

The best way (that I'm aware of) to handle your scenario is to have two rules. I've created a template for you that does this; simply unzip the attached file in to your ...../experts/files folder. Then all you need to do is apply the template, and then either type the last few digits of the order numbers into the template, as prompted; or subsequently edit the rules, if you want to use "point and click" to paste the order numbers from TM's order list.

David
Attached File(s)
File Type: zip TM template.zip   < 1 KB | 282 downloads
  • #709
  • Jul 16, 2012 4:20pm Jul 16, 2012 4:20pm
David,

It appears that your template Move Sl to BE actually uses a TRAIL command and not a MOVE command as in

|O|{1}|>=+{2}|||MEET|TRAIL SL ENTRY+{3}|

But it should be

|O|{1}|>=+{2}|||MEET|MOVE SL ENTRY+{3}|

(I think).

Also If I attach a template can you tell me if the logic is correct.
  • #710
  • Jul 16, 2012 4:21pm Jul 16, 2012 4:21pm
Quoting flyer415
David,

I have used VO/TM successfully on Alpari Pro account. I had to play around for a while to figure out how to make my rules do what I want but it was not too difficult.

I also went in and changed your templates to reflect my default values so I could execute them quicker without having to type anything in the boxes. From there it was relatively easy to see the syntax for your templates.

I am now in the process of creating various multiple step templates.

The only real issue I have is that I fundamentally use the same rules for each trade....
Flyer,

You're correct; when you partially close an order, MT4 creates a new order, making it difficult to keep track of the original order. I've likewise found magic numbers to be the best solution, as the new order inherits the magic number of its predecessor.

VO-Pro v3.0 includes sample templates 'Close order in 2 parts', 'Close order in 3 parts' which give examples on how to incorporate magic numbers into templates. If you need more help, please feel welcome to PM or e-mail me your trading rules, and I'll create the template(s) for you. Rest assured I'll keep your rules confidential.

Version 3.1 will include a template editor which will hopefully make things a little easier.

I guess you're aware of VO-Pro's ability to create orders with magic numbers? You can either enter the magic# as shown in the screenshot, or (to save the bother of opening VOConsole's extended window) type it at the end of the TradeRisk field, inside square brackets, e.g. typing 1%[111] or even 1%[111 will create an order, risk 1%, with magic# 111. (VOConsole then transfers this value to its Magic Number field, and thus also to the order).

To keep track of my last used magic#, I simply write it on a scrap of paper beside my computer keyboard. Then I simply add 1 to it, for each new order. Primitive, I know, but it does the job.

David
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-07-17_0919.png Size: 77 KB
  • #711
  • Jul 16, 2012 4:27pm Jul 16, 2012 4:27pm
David,

I did not know about putting it in the Risk field. That makes life a little easier.

I will email you my Template to see if it makes sense. It is just an easier way to do it instead of inputting 4 or more rules each time.

Thanks
  • #712
  • Jul 16, 2012 4:33pm Jul 16, 2012 4:33pm
Quoting flyer415
David,

It appears that your template Move Sl to BE actually uses a TRAIL command and not a MOVE command as in

|O|{1}|>=+{2}|||MEET|TRAIL SL ENTRY+{3}|

But it should be

|O|{1}|>=+{2}|||MEET|MOVE SL ENTRY+{3}|

(I think).

Also If I attach a template can you tell me if the logic is correct.
Flyer,

MOVE and TRAIL perform the exact same action, except that TRAIL is arguably safer (hence I use it) because it performs an additional test to check that the SL is being advanced, before it takes action.

Hence, if you had (for example) two rules, one that MOVEs the SL to +10 when a trade was 50 pips in profit, and another one that MOVEs the SL to +30 when the trade is 100 pips in profit, then (unless you have the first rule delete itself) both rules will be true when the trade is > 100 pips in profit, and the SL would jump continuously between the two levels. Using TRAIL instead of MOVE gets around this potential problem.

To state what is probably obvious: Normally when we move a SL, it is relative to the breakeven/entry price; when we think about trailing a SL, it's relative to the market price. Hence it's the entry shown in the screenshot below that's important, in this context, as opposed to whether we use MOVE or TRAIL. Hope that makes sense.

David
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-07-17_0929.png Size: 87 KB
  • #713
  • Jul 16, 2012 4:38pm Jul 16, 2012 4:38pm
That was exactly my problem first time around. I did not delete a rule and the SL was jumping between 2 numbers.

I understand why you use TRAIL now and I will change my template to use TRAIL as well. I just assumed that the TRAIL command would cause it to move continuously but it is actually the MARKET modifier that does that.

Thank again.
  • #714
  • Jul 16, 2012 4:53pm Jul 16, 2012 4:53pm
Quoting flyer415
I did not know about putting it in the Risk field. That makes life a little easier.
Incidentally, you can also type the trade comment into the Trade Risk field, by enclosing it inside single quotes, e.g. 1%'comment' or 1%'comment

David
  • #715
  • Jul 16, 2012 8:02pm Jul 16, 2012 8:02pm
VO-Pro tip:
Using the Modify Orders script to review trades, and also set TA-based targets in TM

After you've placed an order (whether using VO-Pro or not), you can drag the 'VO Modify Orders' script onto your MT4 chart, to review the trade. You can evaluate 'what if' scenarios by moving the TP (and SL) lines around, to see what the P/L would be (in terms of pips, dollars, %equity and RR) if you were to exit the trade, at any given level(s). If you have multiple orders, you can toggle VOConsole's 'Show RR totals' checkbox on/off, to see the total P/L (and average RR), assuming that all pending orders are triggered, and meet their respective targets. You can also toggle VOConsole's 'Show RR data' on/off, to temporarily remove the text, if it's obscuring your view of key chart levels.

When you've finished your review, simply click VOConsole's CANCEL (red X) button, to leave your original levels intact.

You can use this process to set partial closes, or SL moves, in TM, that are based on technical targets, e.g. support and resistance. Review the trade as described above, and note the number of pips profit at the relevant technical levels. Then type these values into the P/L 'Criteria' in your TM rules.

David
  • #716
  • Jul 17, 2012 5:10am Jul 17, 2012 5:10am
Quoting hanover
Please don't feel discouraged in any way
Pffft! I'd be surprised and deeply suspicious if the fault wasn't mine :-)

Quoting hanover
Hope that makes sense. It's certainly incredibly tricky! I'm afraid it's a scenario that I failed to consider when I was designing TM. Many thanks for pointing it out.
Yeah, it does thanks.

I wonder if you'd be open to adjusting the logic to continue through the loop, and closing any of the SELECTED orders that are still open, rather than breaking out of the loop if one of them isn't there? Off the top of my head I can't think of how that would break any behaviour, or cause harm.

Putting in two rules is fine, though.

Tony
  • #717
  • Jul 17, 2012 5:15am Jul 17, 2012 5:15am
Quoting hanover
At last, some feedback on TM.
Mate, it's an awesome piece of work.

I'd say that the user interface of VO and TM are unconventional, and perhaps a little daunting at first, but it's very powerful, and there are heaps of shortcuts that make things very slick.

It overcomes so much of MT4's clumsiness.

Quoting hanover
I plan to introduce a 'Create New Order' TM action in v3.10.
Fantastic, looking forward to it.
  • #718
  • Jul 17, 2012 5:35am Jul 17, 2012 5:35am
Quoting idempotent
I wonder if you'd be open to adjusting the logic to continue through the loop, and closing any of the SELECTED orders that are still open, rather than breaking out of the loop if one of them isn't there? Off the top of my head I can't think of how that would break any behaviour, or cause harm.
Tony,

It’s not really about it breaking out of a loop because it finds an open order. It’s because the open order itself isn’t selected, because (the way the logic currently works) is that the Order States forms part of the reason for the selection; i.e. the Order States specifies ‘C’ (closed), and because this order isn’t closed, it’s not included in the selected orders pool to begin with.

What I’d need to do would be to exclude the Order States as being a factor in determining the selected orders pool. Then simply all orders matching the data in the ‘Selected Orders’ column would be drafted into the selected orders pool, regardless of their state.

Order state would then become part of the ‘Criteria’ instead.

Summarizing......

Currently it works like this:

 

  1. ‘SELECTED’ refers to all orders listed in the ‘Selected orders’ column that are in the state specified in the ‘Order States’ column.
  2. ‘MEET’ refers to SELECTED orders that also meet the criteria in the ‘Criteria’ column.

If we were to make the change:

 

  1. ‘SELECTED’ would refer to all orders listed in the ‘Selected orders’ column, regardless of their current state.
  2. ‘MEET’ would refer to SELECTED orders that are in the state specified in the ‘Order States’ column AND also meet the criteria in the ‘Criteria’ column.

I think it’s a valid idea, but I’d need to think about how that might affect the logic in all of the other concepts (delete pending, move stoploss, etc) and also the templates that I’ve already created.

I’ll sleep on it tonight, and give the idea some serious thought tomorrow.

David

  • #719
  • Jul 17, 2012 8:01am Jul 17, 2012 8:01am
David,

VO-Pro was at first a great order sizing calculator. It allowed me to create my orders quickly and efficiently with all the parameters needed.

With the addition of TM it is incredible.

At its core, TM has turned it into an infinitely configurable Trade management EA. I had used some excellent trade managers before such as Steve's MPTM and the Swiss Army Knife as well as simple ones such as QuikTrail but your system beats them all.

Now I don't have to think about which options I need to turn on/off. Also any rule that I can think up can be very quickly implemented. I now have my very own custom Trade Manager EA.

Great work.
  • #720
  • Jul 17, 2012 10:44am Jul 17, 2012 10:44am
Quoting flyer415
David,

VO-Pro ....
At its core, TM has turned it into an infinitely configurable Trade management EA. I had used some excellent trade managers before such as Steve's MPTM and the Swiss Army Knife as well as simple ones such as QuikTrail but your system beats them all .....

Great work.
Agree 100%
0 traders viewing now