4X Lab trade manager | expert manual - tradingtools.eu KL 4X Lab - table with features and hotkeys.

Trade manager 4X Lab.

 

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The table describes features and keyboard shortcuts of 4X Lab and can be used as manual. The table is divided into sections (by yellow colour) to facilitate orientation and comparison. Important information can be found using search by keyword F3 or Ctrl+F. List of changes, links to 4X Lab on MQL5.com, How to Buy and buttons Your Files and Buy 4X Lab are below this table. 

Feature

 

 

Characteristic

If the same characteristic cells can be combined!

Comment

KL 4X Lab

KL Visual Order Manager

KLVOM v4.0

Similar in MetaTrader 4

if exist. 

All available in KLVOM is available in 4X Lab.

Placing orders directly on chart according to risk management

Placing orders directly on chart according to risk management and without editing any inputs every time.

You can place orders effortlessly  using one of  4 ways. Three ways with fixed SL and TP according to inputs and with lot size of the order calculated according to SL distance and percentage risk value of the account balance per one trade.

Lot size of the order is calculated in accordance with broker rules.

Fourth method is drawing the order directly on chart using Effortless Risk Manager module. 

Percentage risk value for all method you need enter in Effortless  Risk Manager panel from 0.1%. Value is resist to MT4 restart.

No

 

No

Placing orders according to risk management is very hard.

Each order must be thought out to be open according to risk management, which takes time and turn attention away from the market.

By accidental movement of  mouse wheel in the order window (F9) you can place the order on another chart and instrument.

 

 

 

Smart auto-hiding  buttons

Market Buy

Market Sell

- that are great for scalpers.

 

Button is immediately placing the orders when is clicked what can be very important for scalpers.

The buttons are resistant to accidental or double-click.

If mouse pointer is over the trade buttons, 4X Lab shows spread widen by broker stop level or additional pip distance as commission in accordance with direction of trading.

No

Possibility of using additional scripts that can calculate the lot size according to KLVOM settings.

 

Smart Trade Buttons means ingenious, auto-hide, quick and resistant for accidental use.

 

 

 

Smart auto-hide buttons

Pending Buy

and Pending Sell that can place any type of the order using drag and drop method.

 

While dragging button shows doted horizontal line with current price level. If you change your mind you can put button away. Every button can place limit, stop and market order, also disallow placing the order on the wrong side of SL or TP, if orders have common levels of SL or TP.

No

 

You can open or close the orders directly on trend lines, boundaries of price channels or  price patterns.

Three trend lines Buy, Sell and CAOO, which can open a new order or close all opened orders exactly on tops or bottoms.

Line CAOO is closing all opened orders on current chart and can be used as SL or TP.  The CAOO line is changing its colour with a calmly sound alert when the price is near the line. After placing or closing the order lines are deleted and return to their default start position. For deleting lines can be used key ‘D’ that by deleting can hide lines on higher time frames. You can also scroll chart and by key 'D' drop lines in invisible place. In that case lines BSC will be recreated in new place according to mouse pointer position.

No

 

Available with

KL TLine Buy Sell Close KLVOM

 

KL Trend Lines Buy Sell Close EA also as standalone program.

 

Due to motionless line can be invisible, line CAOO is warning you against accidental activation by flashing and calm sounds if the price is near the line.

Effortless Risk Manager (ERM)

Place any type of the order according to what you see on the chart with SL and TP placed on chart according to your technical analysis and strategy.

ERM prevents you against risky trading. Placing the order is very quick, even below 3 sec. and in full accordance with the risk management.

Drawing order takes three clicks, and if the potential order meets your expectations, then fourth click or key 'Enter' is placing the order.

The expert automatically knows what type of order you want to place. Mouse pointer above Risk value in ERM panel shows as tip risk as amount of money, calculated lot size, the balance and equity of account. Lot size cannot be lower or bigger than allowed lot size and lot step calculated according to broker rules. With ERM you can also analyse your strategy by placing many virtual orders. Sum of calculations you can read as comment in upper left corner of the chart.

 

No

 

KL Effortless Risk Manager  is available as standalone expert for MT4 and MT5.

Easy management of market and pending orders directly on the chart.

The short order lines.

Keep all clear,

manage many orders easily, quickly and intuitively moving short lines of the orders.

The candles and your drawn technical  analysis are separated from the order lines, but in any moment you can drag any line of the order at any place on chart to compare it with candles, tops, bottoms, analysis and modify the order respectively. From the line labels you know all important information about orders. On higher time frames labels can be hidden to not overlap each other, but you can recognize every order by line length, style and colour. In order to catch line you don’t need to click it precisely, lines are selected automatically when mouse pointer is near the line. What is important for Scalpers the order line is trying to force the order price level even if line level is inconsistent with current broker rules - grey colour and warning.

Idea of short lines comes from KLVOM and is developed for 3 years, in KL 4X Lab is more advanced. 

 

Horizontal order lines overlap whole chart and by this can make all unclear, especially if on the chart is placed many orders or you want to see your analysis on higher time frames.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In 4X Lab lines of
SL TP and pending orders can indicate when they are on the wrong side of the order or wrong side of the market.

In KOLVOM it can be determined only when the dash in the axis of the first candle that represents last known order price level is not on the same level with the order line.

Above is very important if orders have common level of SL or TP.

Lines of pending and market orders.

 

 

The short order lines but due to movement longer than TP and SL with information about order type. Clicked line shows info about current profit, the lot size, order ticket, and below shows ways of closing market order (partially too) or deleting pending order.

How to delete or close single order you will find below.

 

Lines are without additional information and without possibility of closing or delete single order directly on the chart.

 

The single TP line

Lines with information about the pip distance from the order, the potential profit and the order ticket. Line can be moved anywhere on the chart in order to accurately modify the order price level.

 

The single SL line

The line with information about the potential loss, the pip distance from the order, the current profit and the lot size. A very important feature is forcing the SL price level -  the SL follows the line, if modified order is rejected, then immediately 4X Lab retry to set it to a new price level.

Rejected new price level of the order cause the order back to the last known position. You will need to find SL order and again catch it precisely to move SL to a new level, what takes time. It can be very important for you when you are scalping or when important market event occurs.

Deleting, closing, partial closing of the single order directly on the chart using key 'Delete' or hotkeys Ctrl+1, Ctrl+2, Ctrl+3.

 

In order to close the single order, mouse pointer have to point its order line, then the key Delete or hotkey Ctrl+1 will close the order. In the same way hotkey Ctrl+2 will close 1/2 of the order and Ctrl+3 will close 1/3 of the order.

Orders must be divisible according to the rules of the broker, otherwise the order can be closed entirely or the error will be displayed as a comment in the upper left corner of the chart. Comments also show results about the closed orders.

 

Deleting  line of the pending order will remove the order from the chart.

No

 

In 4X Lab hotkey  Ctrl+4 will close all market orders on current chart. In that case the mouse pointer cannot points any order line. Pointing or not pointing the order line is using for order protection.

 

Whenever order is closed or deleted

4X Lab and KLVOM are taking a screen shot.

 

Common levels of  TP and SL

Collective lines of SL, TP, TP1, TP2, SL2 and BE2

Auto-hiding transparent buttons SL_Sell_off, TP_Buy_off and so on, are used for managing and move all TP or SL at the same price level. The orders are managed by the single lines of TP or SL for all orders (market and pending) type Buy or Sell adequately. 

Common line of TP or SL can be dragged at any place on the chart to compare its level with candles and chart analysis. From the line label you will know all important information.

 

  In 4X Lab lines of SL, TP and pending orders can indicate when they are on the wrong side of the order or wrong side of the market. In KOLVOM it can be determined only by order dash in the axis of the first candle.

Above is very important if orders have common level of  SL or TP.

Common line of TP

The common line of TP moves all market and pending TP orders at the same price level. When TP line is on the wrong side of the order line, then displays a warning. The label of common line of TP does not consider information about pending orders. The label shows only the number of opened orders and sum of their potential profits.

 

Common line of SL

The line works like a common line of TP. It displays information about the number of opened orders, their common lot size, in parentheses common lot size as sum of market and pending orders, next is the total value of potential loss and current profit from all orders according to order type of the line.

 

Lines TP1, TP2 and  SL2 for partial closing orders can be also used as hidden SL or TP. The lines are closing all orders according to order type buy or sell.

The line SL2 can be used as better variant for manual partial TS.

 

The lines are used for partial closing of all market orders according to calculations from percentage order size. If value is set to 100%, then can be used as hidden SL or TP. Line SL2 was created especially as better variant for manual trailing stop when you still believe that orders will reach TP. The lines are created automatically when any of the SL line will be renamed to tp1b (which means TP1 buy), tp2b, for TP1, TP2, and sl2b for SL2 of buy orders. or The name tp1s, tp2s, sl2s are used for TP1, TP2 and SL2 of sell orders.

If you are scalper in settings you can force placing of TP1, TP2 for the first new order buy or sell placed on the chart.

Percentage vale of position to close, you can edit in the labels above the buttons Back and Info, next (current) calculated lot size you can read from the TP1, TP2 or SL2 line label.

If TP1 will close partially orders, the lot size of TP2 will be recalculated, so it means if TP1=34% and TP2=50% , then orders will be closed 1/3 on every of 3 TP level.

 

TP1 and TP2 are closing the orders only with profits.

 

SL2 is not available in KLVOM.

Lines BE i BE2

The lines BE and BE2 (for collective SL) are moving SL to set in settings additional pip level - BE+. BE+ can save minimal profit or can pay order commission. With collective SL is used BE2. In that case trailing stop is possible only when price will reach BE2 level. It can be useful on big market volatility when long break even distance with tight TS ensure better results . Switched on button 1/2onBE closes half size of every order at BE and BE2 levels. When price reach common BE2 level and SL is set to BE+, then pending limit orders are deleted.

 

If button 1/2onBE is switched on, then BE or BE2 line is closing market orders only with profits.

Price Area is used to shows

Spread, Stop Level and and additional pip distance as Order Commission. Additional pip distance can also facilitate placing market orders by ERM on higher chart time frames.

On charts M1 - M15 4X Lab shows transparent spread. If mouse pointer points any of Smart Buttons

 4X Lab shows spread widen by broker Stop level or additional pip distance (what is bigger) in direction of trading.

Pip distance can be set in settings as value of commission. 

When Effortless Risk Manager is enabled, spread is also widens by Stop Level or additional pip distance in both direction that can facilitate placing the market orders. Orders in spread area are placed as market order regardless of clicked price level.

KLVOM 4.0 – in future only transparent spread.

 

 

4X Lab buttons

Allow

The button disables manual management of the order lines and allows managing order lines from another chart manually or by other EA. Collective SL and TP lines are automatically switched to singular lines of TP and SL. Screen shot can be disabled according to settings. New orders can be placed without the SL and TP. In order to add SL and TP you need switch off button Allow and use button Back as reset of SL/TP settings. Partial closing of orders and TS are still working if button Allow is switched on.

 

 

Back

Button Back is used to preview your chart without wallpaper and generally as reset, which deletes the remains of unwanted lines or forces the adding of SL and TP after use of the button Allow.

 

 

1/2onBE

The button allows you to close half of one or more orders at BE or BE2. Orders must be divisible according to the broker rules. The market orders without profits will be omitted.

 

 

Info

Product information e.g. description or information about the update.

 

 

Rules

Button Rules reads your own files created by you and named RulesTxt1.bmp up to RulesTxt5.bmp. The files need to be in MQL4\Files \Wallpapers folder. Files can show your system rules, nice pictures, or whatever you like.

 

Key ‘N’ is loading another file.

4X Lab functions or modules

Screenshot

The 4X Lab is taking a screen shots whenever order is closed, closed partially or deleted with detailed description on the chart for closed orders. Current size chart and MT4 platform visibility has no impact on screen shot.

Clicked background of Effortless Risk Manager or key 'P' takes screen shot of current chart. Key ‘P’ automatically align screen shot to the right if chart auto-scroll is enabled, else chart screen shot is centred and you can take a screen shot from scrolled chart but without order lines.

Screen shots are saved in MQL4\Files\Symbol of instrument\Closed, Deleted or Screen shot folder.

 

 

Chart

Auto Focus

Key F

„Auto-Focus”- by key F is switching on/off chart Scale Fix, sets price at middle of the chart and aligns candle size according to time frame.  It is very useful function especially if you can’t see and can’t manage SL or TP lines.

 

 

Due to the constant factor that has to keep fit candle size (e.g. scalping), candles may seem too small or too big depending on price movement.

Fixed pip distance can indicate market volatility.

Message Box

Push notification panel required MetaQuotes ID. You can enable it in settings. Panel can be freely dragged to any place on the chart.

 

 

Skin/Wallpaper

For distinguish between charts you can use 7 skins for buttons, and up to 15 wallpapers. Wallpaper 0 means lack of wallpaper, 4 to 15 custom wallpapers. In setting you can also change all chart properties.

 

 

 

Available only in 4X Lab 

 

Effortless Risk Manager

 

You can draw the order directly on your chart by clicking choosing destination order entry, SL and TP, which can be adjusted to candlestick patterns, SR or Fibonacci levels, SD zones and so on.  When you are clicking, then line of SL or TP is following mouse pointer. After three mouse clicks your order is calculated, and you can read all values from dropped labels at SL and TP levels. If the potential order meet your expectation, then fourth click or key Enter is placing the order. The expert automatically knows what type of order you want to place. With ERM you can also analyse your strategy by placing many virtual orders. Key 'Esc' or 'Delete' interrupt drawing. Key 'D' clears chart from virtual orders placed in Analyser.

Value of Risk in panel is used for calculating the lot size of any order placed by one of four method.

Clicked background of ERM or key P takes screen shot of current chart.

KL Effortless Risk Manager is also available as standalone EA for MT4 and MT5 platforms.

Trend Lines Buy Sell Close

With these lines, you can open a new order or close all opened orders exactly on tops or bottoms. Orders are placed with SL and TP according to default 4X Lab settings. The Close All Opened Orders (CAOO) line closes all opened orders on current chart and can be used as TP or SL, also it is a perfect line for scalpers that can secure profits disallowing price pullback. For sure (NFP), when price reach CAOO line, it is not deleted as default for 5 seconds. As warning CAOO line changing its colour with a calmly sound alert when the price is near the line. Sound you can disable using loudspeaker button, which next to the buttons of collective orders.  Key 'D' is deleting lines BSC that are recreated on left side of chart in distance from first bar according to settings, so it also can be used for hiding lines on higher time frames if lines are not needed. You can also scroll chart and by key 'D' drop lines in invisible place. In that case lines BSC will be recreated in new place according to mouse pointer position.

KL Trend Lines Buy Sell Close EA is available as standalone EA.

 

All Trend Lines Alert

Different sounds according to chart symbol ensure perfect orientation between charts.

Module has two components. Sound alerts for upper/lower breach of the price level using its own two horizontal lines - Top and Bottom. Sound alerts for every trend line on the chart in price range. Every trend line of your analysis is alert line, you do not need to remember or set other alerts. Every line in range of price is flashing in case if the sound alert is turned off. Lines Top and Bottom are resistant to accidental delete, they are recreated at the same levels.  If the price hits a trend line too many times, you can turn off alert for single trend line by adding to its name prefix "My". All sound you can switch using loudspeaker button next to the buttons of collective orders, by this it also hide horizontal lines Top and Bottom to not disturb chart analysis. Every currency pair, indices or any other instrument can have different sounds for trend line alert, upper and lower breach. Unlimited sound files for audible alerts that provide you perfect orientation between charts. Now you can create sound file for any instrument like currency pair, indices, CFD and so on. The sound file name must be created according to those rules: alert prefix + first six characters of symbol name + file extension .wav. Prefix ‘t’ for trend line alerts, prefix ‘s’ for lower breach alerts, prefix ‘r’ for upper breach alerts. Important: use only exact instrument name according to capital and small letters. If instrument name has more characters than six, then you can use only first six characters. Possibility of using own sound files. Ready sound files are in extras file, which is not available on MQL5.com. If you bought program on MQL5.com or in MT4 terminal, then you can get extras for free after positive review in Review tab on mql5 website.

 Own sound files for alerts:
prefix "t" for trendlines,
prefix "s" for bottom line,
prefix "r" for
top line.
Symbol name only 6 characters e.g.
tAUDCAD.wav

 

Keys and Hotkeys

 

Ctrl+1 or key Delete

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 the order line.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

D and F in

KLVOM 4.0

 

 

 

 

 

Ctrl+2

Closes 1/2 of the order, the mouse cursor must points line of the order. 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.

Ctrl+3

Closes 1/3 of the order, the mouse cursor must points line of the order. 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.

Ctrl+4

Is closing all market orders on current chart, for sure mouse pointer cannot points any order line.

Enter

Is placing ready orders drawn in Effortless Risk Manager.

Delete or

Escape

Interrupt drawing or delete drawn  order in Effortless Risk Manager. Those keys do not remove orders drawn by Analyser – in this case use key D.

D

Clears all is unwanted

Acts like my script Alt+D. Removes all what is drawn in Analyser, is deleting lines Buy, Sell, Close (CAOO) to recreate them in default start position, is clearing chart comments in upper left corner, is deleting all Account History from chart dragged and dropped with key Shift from MT4 terminal.

F

Auto Focus

„Auto-Focus” - is switching on/off chart Scale Fix, it sets price at middle of the chart and aligns candle size according to time frame. It is very useful function especially if you can’t see or can’t manage SL or TP lines.

Due to the constant factor that has to keep fit candle size (e.g. scalping), candles may seem too small or too big depending on price movement. Fixed pip distance can indicate market volatility.

P

Take screenshot

Clicked background of Effortless Risk Manager or key P takes screenshot of current chart.

Arrow Up

Arrow Down

Can flip currency pair symbol and spread label to the opposite chart corner if possible. Currency symbol and spread are automatically flipped to opposite corner if price level is near. By its appearance currency pair symbol also inform you if account is demo or real.

N

For button Rules. Key ‘N’ is loading another file RulesTxt 1…5.bmp.


Buy KL 4X Lab trading application in the store of automated robot systems

Attention! The product is not designed for working in the strategy tester.
The 4X Lab was designed with great care and was tested in many market conditions. If you identify any bugs, please, contact me. If you have any questions or suggestions, also feel free to let me know.