4X Lab trade manager | MetaTrader 4 expert - tradingtools.eu

Trade manager 4X Lab

Control your trades intuitively, effortlessly and precisely.

4X Lab is smart trade manager that can place and manage all type of orders in accordance with risk and money management. Using the 4X Lab doesn't require specific skill, also all can be done directly and effortlessly on the chart. The 4X Lab facilitate and accelerate managing of many orders, also orders with common levels of SL and TP. The expert was designed to not disturb on the chart. All according to rule minimum on chart (without big panels), maximum efficiency. Important features are available from auto-hiding panels or attached to order lines. Hover mouse pointer over the 4X Lab element and read tips. All operations can be done directly on the chart. Clicked left mouse button on stop loss line or sound alert line (hold about 1 sec.) shows additional menu for that line. Clicked order line shows information about given order. All is kept in clear way without big annoying trade panels occupying half size of the chart. Short lines of orders don't overlap chart with your technical analysis. When needed, those lines can be dragged at any place on the chart to compare precisely their price levels e.g. with chart tops and bottoms. In the 4X Lab the SL and TP price levels are forced by their order lines. For example, new SL price request is repeated constantly as long as broker accept new SL order level. This feature is important for scalpers and day traders during big market volatility like NFP, etc. If order request was rejected you do not have to repeat the operation manually loosing valuable time. Small dashes in vertical line of first candle shows you current broker levels of the orders what allows you better control your trading while scalping. Orders can be placed using four different methods in accordance with risk and money management. The 4X Lab massively helps traders increase their trading productivity.

You can place immediately new orders using buttons Market Sell and Market Buy. For fast acting (scalping), Buttons MarketSell and MarketBuy are placing the orders when mouse button is clicked on (not when released). Those buttons are very safe and resist to double click or when object accidentally dragged near button. Also, are inactive near order lines (order lines have higher priority). Using buttons Pending Sell and Pending Buy you can place any type of the pending order or market order. Buttons PendingBuy and PendingSell you can drag and drop at any level on the chart. Trade manager automatically knows which order type you want to place. You can resign from placing the order by moving button line back. Dragged button shows current price level and additional doted line allows compare price levels with bars. When placed orders have common SL or TP the button is warning if order can be placed on wanted price level. Above orders are placed with predefined in settings SL and TP distance, with lot size calculated according to risk management of account balance. Also, the lot size is calculated according to the broker permitted minimum, maximum and lot step. Current risk value is visible in Effortless Risk Management panel, which is available directly on the chart.

The Effortless Risk Manager (ERM) prevents you from risky trading by money management from 0.1% of account balance per one trade. Hovering mouse over percentage value of risk shows you current value of risk, its approximate lot size, account balance and account equity. With the button Calculate from ERM panel you can draw orders according market conditions that you see on the chart. By clicking on chart and selecting entry level, stop loss and take profit levels Effortless Risk Manager allows you placing any type of the order. All calculated values you can read from labels before you will place the order. Button Place or key Enter will place calculated order. Key ESC removes wrong order. Button Analyze allows you simulate trades on the chart. Trade results you can read as comment in upper left corner of the chart.

With Trend Lines Buy Sell Close you can place or close orders exactly on tops and bottoms. The Close line can be used as stop loss or take profit. You can hide lines Buy, Sell, CAOO on the chart using mouse pointer. To do this, scroll the chart to the left, click the chart pointing place where the lines should be moved and press key D. In fact, it can be any place, where candles are older than candles from default location where trend lines are restored after trade execution.

The 4X Lab (or 4X Lab VPS) allows you manage orders by dragging their short order lines on the chart. For example, the SL line is forcing SL order level constantly as long, as order level will be equal to SL line price level. Because of this, please use only one instance of the 4X Lab with given symbol. In other case SL or TP order lines may start to dance, when second EA will try to move lines to previous level. By clicking the order line you can read additional info or see corresponding SL and TP lines. Hold clicked left mouse button on stop loss line and get additional menu for fast managing break even, partial take profits 1 an 2, partial stop loss and trailing stop. Trailing stop can follow according to distance in pips, the min/max price of four closed bars or according to stand alone indicator like Super Trend. You can manage TS from SL menu, integer value sets distance in pips, entered "bars" means follow by four candles, "trend" means follow by your trend indicator. Menu of horizontal alert lines top and bottom allows you close opposite unnecessary pending orders, when price hits the line. If no orders on the chart, settings of SL menu and horizontal alert lines menu are reseting to default settings.

Four auto-hiding labels SL_Sell_off, TP_Sell_off, SL_Buy_off, TP_Buy_off allow you manage orders collectively with common levels of SL and TP according to oldest order. All new SL or TP of new orders are moved to the same level. If level of SL or TP has improper values order lines will inform you about it. When you place first order on the chart and some of labels have suffix _on, then the order will be placed without SL/TP. For collective orders BE, TP1, TP2, SL2 is set according to highest market buy order or according to the lowest sell order. Pending orders in that case are ignored, also calculations of TP, SL labels (no trade results). Common levels allows you easily find break even level reading it from SL or TP label of all buy or sell order. In the left lower corner of the chart, above buttons Rules, Info... are visible labels where you can edit percentage value of TP1, TP2, SL2. That values are automatically recalculated to the lot size to close. Buttons SL2, TP1 or TP2 also can be used as hidden SL or TP.

Button Allow disables managing of order lines and can be useful with another EA on the same symbol where 4X Lab manage only partial closing, break even and trailing stop. Also, 4X Lab can secure you from dangerous EA in its entirety. More detailed description about each feature and keyboard short-cuts you will find in the manual below that is also manual for 4X Lab. Browser searching by keyword will be very useful. In the table you will find information divided according to the feature. The "what's new" section shows the history of changes in the program and added features.

Audible module All Trend Lines Alert can inform you about important events on chart like upper or lower breach of the price level or when price hits any of trend lines on the chart. Different sounds according to event type and chart symbol provide you perfect orientation between charts. You can use own sound alert files. Added prefix My to the trend line disables sound alert for this line but line will still flashing, warning you if price is near the line. Auto-hiding label in lower left corner of the chart with symbol of speaker louder is switching on/off all sounds on the current chart. The Order Screen-shot module can take screen-shots when orders are closed or deleted with trade results and the order trace.

With the key P you can take screen-shot of current chart. By pressing key F (Chart Focus) you can alternately manage chart scale fix and place current price level in middle of the chart. That can be very important when the price is being squeezed at the bottom or top of the chart, what disallows you manage stop loss and take profit levels easily. Also, it is very useful if you need to scroll chart horizontally to compare S/R or SD levels. Hold mouse pointer on 4X Lab element and read a tips. Tips can be in English, Polish or German language.

While watching video please refer to the manual, link to the manual is below the video.  

The manual (table) that describes all features and keyboard shortcuts of 4X Lab you will find here.

Remarks

Order lines of 4X Lab are forcing orders position what can be visible as dancing SL or TP if two instances of EA are on the same symbol. So, 4X Lab VPS was designed to works on remote desktops in slave mode to the 4X Lab. It means that all trade operations of 4X Lab VPS are automatically disabled if 4X Lab is running, and enabled again if 4X Lab is off. Also, 4X Lab VPS can send notifications about trade operations and chart events like trend line and breakout alerts. Notifications about trend line and breakout alerts are sent as single events. All notifications are automatically disabled if 4X Lab is running. For notifications you need to have MetaQuotes ID. For proper operations, 4X Lab and 4X Lab VPS need to work on the same broker account and other connection is not required. 4X Lab VPS is stand alone program and because it is related to your trading accounts it can't be purchased on MQL5.com or in MetaTrader terminal.

The 4X Lab also can work with your Trading Robot or Signal Provider, which by better managing of the orders can prevent you from risky trading. You can even disable placing SL an TP by your robot, then if robot is placing orders according to entry and exit rules the 4X Lab can managing the orders by placing SL, TP, sets BE, BE+(minimal profit or commission), TS, taking partial profits at BE or BE2, TP1, TP2, SL2(e.g. for TS) or closing all opened orders on tops and bottoms using trend line CAOO. With 4X Lab you can take profits partially by hotkeys Ctrl+1/2/3 or closing all market orders by hotkey Ctrl+4. By different sound alerts the 4X Lab can inform you about events on your charts, The 4X Lab is taking screen-shots when the orders are closed, closed partially or deleted. All is kept in clear way without annoying order lines that overlap your analysis.

The indicatorAccount Performance Analyzer is stand alone indicator but was designed to works with 4X Lab. Account Performance Analyzer (APA) helps you estimate progress of your trading and your trading account using the most important factors. Moreover you can filter trade performance according to the order type (buy or sell), instrument name and order magic number. Order magic number allows you identify which EA or script placed the order. As default 4X Lab magic number of 4X Lab is 4444.

The big advantage of 4X Lab is post entry trade management that allows you take profits even if your order never reach its take profit or increase profits if price moves in your favour. I encourage you to try and buy this program. Soon all new sold programs will be related only to user name that is visible in Navigator of MetaTrader and email address instead of accounts numbers.


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

 

To find answer to your question use search by keyword in your browser (Ctrl+F or F3) when visiting:

 


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.


What's new?

Current version 4X Lab 1.824 and 4X Lab VPS: Speed up functions.

Version 4X Lab 1.496 and 4X Lab VPS: Click line of the order to highlight its corresponding SL and TP lines. As previously clicked line shows order type, current profit, lot size of the order, order ticket and methods of closing order. Click line press Ctrl key (You do not have to hold your finger on the key), hover mouse over the order line and decide if close 100% of the order, partially 1/2 or 1/3. Screen-shots added to slide show.
You can decide if line Sell of module Trend Lines Buy Sell Close should be activated with price Ask or Bid (technically, according to what you see on the chart).
Small improvements.

Version 4X Lab 1.494 and 4X Lab VPS: Added new pips calculator module due to broker can use different quotations for instruments on the same trade account. For indices like DAX30 some brokers are using two digits after comma, so then 1pip = 100points and on 5 digits forex symbol 1pip = 10 points. For major Forex symbols it is easy set pip value according amount of digits after coma and it is done in option "Calculate point value automatically". Also, in this option indices, which name start from "[" like [DAX30] (Admiral Markets – name that you can see on window title) are calculated as 1pip=100 points. Moreover, for proper calculations you can set another factor for instrument name starts from “#” like #BAS for BASF CFD. Typical values are 1 for 1 pip = 1 point, 10 for 1 pip = 10 points, 100 for 1 pip = 100 points. When you double click "Calculate point value automatically" you can select another option from the drop down list.
Added new feature: trailing stop managed by standalone trend following indicator e.g. supper-trend. For this hold clicked SL line about 1sec. and edit TS box.
0 - means TS is disabled.
integer value bigger than 0 means distance in pips,
bars - means TS will follow max/min of last 4 closed candles.
trend - means TS follows according your indicator - you need set in settings exact indicator name without .ex4 and edit indicator parameters.
When no orders on the chart then TS value is reset to default.

For proper operations in Inputs parameters you can set:
Use indicator, you can also type trend as TS value on SL line. – false is recommended.
Time frame of the indicator calculations, 0 means current. – you can set fixed period.
Indicator input value 1. - each value as floating point value, e.g. true as 1.0, false as 0.0
Indicator input value 2. - each value as floating point value, e.g. 0.0 means default indicator value.
Indicator input value 3. - each value as floating point value, e.g.
Indicator input value 4. - each value as floating point value, e.g.
Indicator input value 5. - each value as floating point value, e.g.
Indicator index buffer for buy orders 0-7. – 0 means first buffer.
Indicator index buffer for sell orders 0-7. – 1 - if indicator uses one buffer type 0.
Indicator shift. – shift of calculations.

This feature is experimental and may needs to be restarted if you changed the indicator. Also it may not works with your indicator. It should work if following indicator returns price value(s), its first 5 parameters are mathematical that can be converted to double (floating point) value like boolean, integer, long and so on, you know amount of indicator buffers. In many cases traders have the indicator code, so non mathematical values 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 for both).

Added new feature: you can automatically delete pending orders when price reach opposite horizontal line top or bottom and longer keeping pending orders is pointless. Feature can be used if the strategy fails or for price breakouts. Hold clicked alert line top or bottom about one sec. and click “Delete pending orders OFF”. After that, horizontal line bottom can delete all pending orders above the price. It means, that all buy stop and sell limit orders will be deleted, when price breach line bottom. If price breach line top, then all pending orders below the current price will be deleted.
Please watch new videos about 4X Lab.

Changes in previous versions:
Version 4X Lab 1.492 and 4X Lab VPS – Fixed small bug with closing orders partially by Ctrl+2 (1/2) and Ctrl+3 (1/3).

Version 4X Lab 1.491 and 4X Lab VPS – Fixed small bug from previous compilation that causing reset of Risk value to default 0.2% if chart period was changed.

Version 4X Lab 1.490 and 4X Lab VPS – Removed software conflicts with new indicators Toolbox PRO1(2,3,4) and Andrews Pitchfork PRO+. Added default sounds (unknown symbol) for All Trend Line Alerts module. Fixed problem with deleting rectangle objects due to object name. Added ATR to candle timer. Improved communication between 4X Lab on PC and 4X Lab VPS. In Effortless Risk Manager module added different font size for Analyzer mode, keyboard arrows can flip take profit label to the left or to the right. Arrows up and down reset this choice to automatic choice. Key Esc removes last trade of Analyzer mode, also last step when trade is plots on chart or trade is drawing wrong. Added proper calculations of the lot size for partial closing of the order if minimal lot step is 1 lot. It solves problem of partial closing on BE(1/2onBE), TP1, TP2, SL2, Ctrl+2(1/2) and Ctrl+3(1/3). FYI, keys Ctrl+1 (whole order), Ctrl+2(1/2) and Ctrl+3(1/3) are closing single order. Line of the order must be selected on chart by mouse pointer. Also, for partial closing the order must be divisible according to broker rules. Keyboard shortcut Ctrl+4 is closing all order buy and sell on current chart, in that case no order can be selected by mouse pointer.

Version 4X Lab 1.480 and 4X Lab VPS - 2016.06.30 - Fixed two bugs that occur because of changes in MetaTrader 4 build 970/971:
1. If the pending order is changed into the market order, stop loss and take profit lines are gray, also if you hold clicked SL line, additional menu on the SL line doesn’t appear,
2. If no orders, then break even and trailing stop (additional menu on the SL line) should be reset to inputs.

Version 4X Lab 1.470 and 4X Lab VPS - 2016.06.13 - This version works with MetaTrader 4 build 970 New features:
1. 4X Lab cooperates with 4X Lab VPS on remote desktops as master EA.
2. Control panel on any Stop Loss line. Hold clicked left mouse button on stop loss line (about 1 sec.) and control trailing stop, break even, additional TP 1, additional TP2 and additional SL2 for partial trailing stop. Stop loss line can’t be moved because panel disappear.
From panel you can:
• Switch on/off break even (BE) or collective break even (BE2).
• Set pip distance to price for trailing stop. If you type Bars your stop loss will follow price according to min. /max. of last 4 closed candles. If you type 0 value the trailing stop is disabled.
• Enable partial take profit 1.
• Enable partial take profit 2.
• Enable partial stop loss 2 that is great for manual trailing stop or can work as hidden SL (if 100%).
For pending orders panel has no options of TP1, TP2, SL2. Percentage values of TP1, TP2 and SL2 you can edit in labels above buttons 'Info' and 'Back'. If value is set as 100% then can be used as hidden take profit or stop loss. If no orders on chart, then BE and TS are reset to default settings.
3. Options for trailing stop:
• As default 4X Lab trailing stop has defined distance to price according to settings.
• Also, in settings you can set trailing stop that will follow according to min./or max. of last four closed bars. For this option you can set additional distance, e.g. 3 pips below minimum of last 4 closed bars.
• If break even is enabled, then trailing stop will start to work if price reach BE level, what can prevent TS from unwanted swings.


Version 4X Lab 1.440 and 4X Lab VPS - 2016.04.04 - For proper pips calculations on CFD and indices you can choose how many points consists one pip.

Version 4X Lab 1.420 and 4X Lab VPS - 2016.03.10- Added tips in German (Tips auf Deutsch) and Polish (Wskazówki po polsku) Languages. Hold mouse pointer and read a tip. As default tips are set in English language.Added possibility of closing orders on SL lines of 4X Lab if your broker uses minimal distance to price. In that case It allows you for a tight scalping. Fixed bug with the message box that disallowed to drop message box on any place on the chart.
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: only exact instrument name according to capital and small letters. If instrument name has more characters than six, the only first six characters.

Version 4X Lab 1.400 and 4X Lab VPS - 2016.02.09 -
For key ‘P’ added automatic align screen shot to right if chart auto-scroll is enabled, else chart screen-shot is centered, so you can take a screen shot from scrolled chart.
For key ‘D’- if mouse pointer position according to bars is bigger than amount of visible bars, then deleted lines Buy, Sell, Close will be recreated according to mouse pointer position. It solves problems of hiding lines especially on offline charts. Simply, scroll chart to the left and press key ‘D’, then lines are hidden. Better quality of screen shots.

Version 4X Lab 1.300 and 4X Lab VPS - 2016.02.01 - In settings added Order Magic Number to identify orders in KL Account Performance Analyzer.

Version 4X Lab 1.200 and 4X Lab VPS- 2016.01.26 - You can change the sounds of transaction to the standard sounds of MT4. Added list of hotkeys in button Rules.

Version 4X Lab 1.100 and 4X Lab VPS - 2016.01.22 - Tips are set as default. Hold mouse pointer above any 4X Lab object and read helpful tips. Added calculations for virtual trades in Analyser mode. Calculation you can read as comment in upper left corner of the chart. New button Rules. Now you can use up to 5 own files. Key ‘N’ is loading another file. Solved problem with screen shots. if currency pair suffix is ending as dot, Windows was unable to create folder for currency pair.






Last updated: March 09, 2020