4X Lab trade manager | F.A.Q. - tradingtools.eu

4X Lab F.A.Q.

Sound alerts of All Trend Line Alerts module

»There was a voice that always repeated every 5 seconds a phrase« - yes, it is advanced sound alert that you can disable it by clicking louder icon in lower right corner of the chart. Its horizontal moving lines top and bottom inform you about lower or upper price breach. It also works when price hits any trend line. You hear default sound Unknown Symbol but in extras are more than 70 sound files for Forex and Indices, which provide you an excellent orientation about what is going for each chart. Moreover, you can use own sound files for upper breach, lower breach and trend lines alert different for each symbol.

«How could the sound be switched off? Don't want any sound for placing orders, closing orders and so on.» - The speaker louder symbol doesn’t switch off sounds of transactions, it works only with alerts, module Trend Lines Buy Sell Close and tick sound of indicator Energy Tick Volume. In expert properties, on very top below Tips find «Use standard MT4 sounds for transaction» and change its value to true. BTW, prefix «My» before trend line name is switching off sound alerts for this line.

Properties of the chart

«But I didn't get it to run on my chart templates, it always changed everything.» - this features in settings is called «Set my chart automatically» and allows you force your own properties of the chart. In opposite to template that can have obsolete analysis or unused indicators, saved properties are always fresh due to changing only properties of EA. Options for wallpaper and buttons appearance are at the very end.

Managing orders collectively

Managing orders with collective levels of TP and SL allows you to control your orders in organized way against mess caused by multiple levels of SL,TP, BE and different values of TS. That all is very important especially when price is moving quickly or while you are scalping. For proper managing of collective orders, Pending limit orders are deleted when common SL is move to break even level (wrong SL). Trailing stop is activated when price reach BE level what prevent orders from price swings. Partial closing of TP1 and TP2 works only for orders in profit. Reached partial SL2 is always closing percentage value of all market orders and is great solution for manual TS as boundary where the chances of trade success dramatically fall. Also, TP1, TP2 and SL2 can be used as hidden SL or TP when their values are set to 100%. TP1, TP2 and SL always affect to all buy or sell position.

Managing each order as single order

Each order has own SL, TP, and BE level. For each order is set the same default TS distance that will be run after price reach order BE level. If you want to use different values of TS for each order you need to set them in the MT4 terminal Ctrl+T => tab Trade. In that case TS can’t be lower than 4X Lab TS, also in case of problems you can use button ‘Allow’ that allows managing orders by any other EAs or manually on another chart. TP1, TP2 and SL2 works according to rules for collective levels for orders. Each single order can be closed partially by keystroke Ctrl+1 = 100%, Ctrl+2 = 50%, Ctrl3 = 33%(nearest lot size value). All orders on current chart you can close by keystroke Ctrl+4. In cases Ctrl+1, Ctrl+2, Ctrl+3 order(order line) must be selected by hovering mouse pointer(automatic selection without clicking), in case Ctrl+4, no order can be selected. The order lot size must be divisible in accordance with the broker rules. Otherwise the order will not be closed, or will be closed entirely according to the broker rules. If the mouse pointer is over the order line, then Ctrl+1 or key Delete closes the single market order. Single pending order is removed only with the Delete key or by deleting its order line.

Trend Lines Buy Sell Close module

«At the moment, the Sell-Trendline executes orders only at the Bid. There any chance to choose also the ASK-Price for an entry ?» - All three trend lines works in pip range that you can change in settings, also as default works with bid price to act with price according to what you see on the chart. From version 1.496 you can change bid price to ask for sell order in settings.

Stop Loss menu

Clicked and held SL line about 1sec. will show you menu for BE, TS, TP1, TP2, SL2. For pending orders menu show only BE and TS options. BE on/off for BE levels. TS (global) - you can edit distance in pips, 0 means TS is switched of, when you type bars or Bars then TS will follow according to minimum (buy) or maximum (sell) of last four closed candles (5 current), if you enter trend, then TS will follow your trend following indicator. Free indicator super-trend you can download on 4X Lab page. Clicked TP1, TP2, SL2 creates their levels according to highest buy or lowest sell order in distance to 1/3 or 2/3 between order open price and its TP level. Values are stored separately for buy and sell orders as long as orders exist, next default values are restored. These settings work for all orders on current chart globally. Changed in SL menu values are stored as long as any order on chart exist, if no orders, then are reset to default values.

What shows oder line?

Clicked order line shows corresponding SL and TP in colors of horizontal alert lines what is useful with many orders on the chart. Also, above the line shows information about selected order like the order type, current gain, lot size and order ticket, below shows method of deleting or closing orders partially or wholly.

Trailing Stop

«Trailing stop will be controlled by your trend following indicator. Must this always be Super-Trend, or could this be any other indicator of my choice?» - It will work if following indicator returns price value(s), indicator first 5 parameters are math that can be converted to double (floating point) value like bool, integer, long and so on, you know amount of indicator buffers. In many cases traders have the indicator code, so non mathematical values can move bellow first 5 external inputs, if needed create fake variable like „extern int fakeVal1=0;” ,in 4X Lab enter indicator index buffer for up trend and down trend (if only one, then the same).

Find corresponding SL and TP

«How is it possible to find associated TP1, TP2 and SL among all the lines ?» - You can't find corresponding TP1, TP2 levels because TP1,TP2 or SL2 are common levels for all market buy or all market sell orders. But, you can find corresponding levels of TP and SL for each order when 4X Lab is managing them singly, according to your idea (Christian) you need only click order line.



Here I will answer to your important questions that you can send me in emails. If you identify any bugs or if you have any questions or suggestions feel free to let me know. Feedback are most welcome.