I have just released the new version of my famous 1-click trading app Trader on Chart 1.7 which is now available at the Download Center.
Everyone who’ve purchased this forex lot size calculator before can download the latest ToC version 1.7 at no cost.
If you do not have Trader on Chart yet then it’s about time to get your copy.
Here’s what new features I’ve added to the Trader on Chart 1.7.
With the new ToC 1.7 you can schedule trades in advance. In other words, you can program your MT4 to open trades at specific date and time.
Need to place pending orders just a few minutes before some important economic news release? You got it!
Want to open BUY market order and close SELL trades at 15:00? No problem.
One of the best things about this feature is that you can tell the Trader on Chart to place straddle pending orders couple of minutes before the news release at a specific distance from the current market price at that time.
For example, you decide to place BUY STOP pending order 10 pips above current market price and SELL STOP pending order 10 pips below current market price. This is quite easy thing to do, but if you want this to happen 07:58 AM London time while you are in New York, things get a bit more complicated.
See, in New York it will be 02:58 AM, just a few hours after midnight.
But the trade scheduler in the new Trader on Chart will do that work for you. All you need to do is preset your trade settings, set schedule time and click PLACE button.
It’s done in 3 steps.
Step #1 – Set pending order parameters
Step #2 – Set schedule time
Step #3 – Click PLACE
Step #4 – Orders scheduled
When you schedule orders ToC will create a vertical line on the chart. This line represents the scheduled orders. To cancel scheduled orders simple delete the line. To change the scheduled time you can simply move the line to another time. Also, you can hover your mouse on the line and in a couple of seconds text message should appear with line status.
That’s it. Trader on Chart will place those pending orders at your scheduled time. So if market price at that time will be at 116.777 it means BUY STOP will be placed at 116.787 and SELL STOP at 116.767. It does not matter what market price you see now. ToC will use market price at the moment it places the trades (07:58 AM London time in our example above).
I’ve added new feature to the Trader on Chart app and now you can set a custom trade comment for each of your trades.
This can be configured from the EA Inputs before you load the ToC panel on your chart.
Trader on Chart now works in simulation mode. This means you can use ToC with the MT4 Strategy Tester.
I’ve also fixed various small bugs that were reported by my clients. Thank you for helping me to make the Trader on Chart better.
I hope you’ll find these improvements useful and post your comments below with your feedback.
If you do not have Trader on Chart yet then it’s about time to get your copy.
Trader on Chart works on any MetaTrader 4 platform and also works great with my mt4 trade copier. If you want to use them together just make sure you attach each EA to a different chart.
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View Comments
The B E function on the Trade on Chart v1.7 does the entry default to the entry price plus other charges such as commissions? Does T S default to current price plus or minus desired # of pips used to trail?
Thomas,
BE function works like this: The “BE pips” value you set in the panel tells the EA how many pips in profit the trade should go first before the BE is activated. Once the BE is activated, EA will move the stop loss to the open price or a few pips/points in profit to cover the expenses of the trade taking commissions and swap into consideration. This means if the trade is closed at BE and there are commissions charged by the broker, a small trade profit will cover these expenses.
TS function works like a ratchet. If you have “TS pips” set to 55 pips it means the TS will be activated once the trade gets into profit of 55 pips. Then a stop loss will follow 55 pips behind as market price moves, but doesn't go back if a price comes back.
Hope this helps.
Rimantas
Hello I´m from Brazil and my name is Elmar Votri.
This is the tool I´m searching for during my 10 yearsof self-taught forex lessons, online coaching and dozens of books.
But I hope one day be able to afford such a tool.
Thank you.
Hey, I think the idea of this EA is great, however I wonder if in the(near?) future you could add multiple take profit targets to it! That way I can get in with one click and scale out gradually with partial closures. Wouldn´t that be awesome?
Thanks. Yes, that's technically possible, but then the simple TOC app would have too many parameters. I don't want it to become too complicated. But I will consider your idea.
Hi Rimamtas,
What have you developed that successful helps the Forex trader to take positive trades with the trend. Looking for a good EA indicator to help improve my trading any suggestions.
Regards Ray W
Perth Western Australia
Thanks Ray ;-)
is it possible for you to merge TOC with trade copier together? and sell it for your clients.
That would be technically too complicated. It is easier to just have both apps on separate chart windows.