Easy Order Creator Description

Easy Order Creator Description

24 June 2016, 12:22
Martin Fischer
1
278

Here is the full description of my Easy Order Creator V3.5 MT4

Last description update: 28-AUG-2016

It's a very powerful and userfriendly tool to create new orders and manage open positions. Easily create new market or pending orders with automatic stop-loss, take-profit and automatic calculated or fixed lot size. Just move the entry, stop-loss and take-profit levels on the chart to the desired values and enter the risk as an absolute value, as percent of your equity or direcly as fixed lot size. This tool automatically shows you the possible profit and loss and can open a market or pending order for you. Additional features are: Trailing-stop, automatic shift stop-loss to break-even, show break even levels, and automatic close orders on profit, loss or weekend. Filter all functions by symbol, magic, comment, order-type! If you start working whith this tool the first time, just leave all parameters in the properteis-window as they are and start trading...


You can find the MT5 version here.


New Info from 28-AUG-2016:
The MT4 build 988 does not work properly with the Easy Order Creator V3.5! Please update your terminal to the latest version (Build 1010). If the live-update does not start automatically, you can try to do the following steps:
- Closing MT4 Terminal.
- Go to C:\Windows\Program Files (x86)\(your terminal program folder) and rename the config -folder to _config.
- Restart the MT4 terminal.

On my PC, the Live-update started and updated the terminal to build 1010.


All MT4 and MT5 tools, that have a graphical interface (window with buttons, text etc), need a Microsoft Windows display zoom of 100%. Otherwise, the appearence of this tool is not correct (The font will be too big). This problem will be solved in the next months.
To set a display zoom of 100%, right click on the windows desktop (empty space) and select display settings. Here you can move the slider to the left to 100%.


Parameters

Global parameter settings

  • MaxRiskPercentOfEquity: Maximum risk per order in percent of your current balance.
  • PanicOverridesMagicAndCommentFilter
    • if true, the panic button closes ALL orders.
    • if false, only orders with the above specified comment and/or magic numbers will be closed.
  • CloseProfitLossValueType
    • PL_ABSOLUTE_CURRENCY: Your given profit/loss-values will be calculated as an absolute value in your currency (e.g. 10.00 USD).
    • PL_PERCENT_BALANCE: Your given profit/loss-values will be calculated as a percent value of your account balance (e.g. 10.00 %).
  • ProfitLossCalculationMethod
    • PL_CALC_EVERY_SINGLE_ORDER: Every single order of the actual symbol will be checked separately.
    • PL_CALC_ALL_ORDERS_SUM: The sum of orders of the actual symbol will be checked.
    • PL_CALC_SEP_LONG_SHORT_SUM: The sum of long- and the sum of short-positions of the actual symbol will be checked separately.
  • ThisEAChecksProfitLossForAllSymbols: If true, the EA will check every symbol and not only the current one, if false, this EA will only check the current chart-symbol.
  • PanicButtonDeletesPendingOrders: If true, a click on the panic-button will close pending orders too.
  • CloseButtonDeletesPendingOrders: If true, a click on the close orders-button will close pending orders too.
  • UseCommentAsFilter: if true, your entered comment will be used for filtering existing positions (for automatic closing orders on special conditions). if false, this value will never be used for filtering
  • AllowedPendingTypes: if you only want to open limit or stop orders, you can set an apropriate filter here.

Close on profit/loss values: Taking into account your magic number, comment and ThisEACheckProfitLossForAllSymbols setings

  • CloseOnProfitValue: The value for closing orders on profit, according to the settings above (CloseProfitLossValueType and ProfitLossCalculationMethod).
  • CloseOnLossValue: The value for closing orders on loss, according to the settings above (CloseProfitLossValueType and ProfitLossCalculationMethod).

Automatic close depot on profit/loss: Taking into account your magic number, comment and ThisEACheckProfitLossForAllSymbols setings

  • CloseDepotProfitLoss: If true, all orders will be closed, if the depot reaches the following values.
  • CloseOnDepotProfit: The profit level at which the depot is to be closed, according to the settings of CloseProfitLossValueType.
  • CloseOnDepotLoss: The loss level at which the depot is to be closed, according to the settings of CloseProfitLossValueType.

Order settings

  • DelayedStopLossTakeProfit: Some brokers do not accept a new order including TP and SL. In this case you can set this parameter to 'true'. TP and SL will be added to the order after successful order creation.
  • Slippage: The slippage value for your orders.

Reset-button settings

  • ResetValueType:
    • RESET_BEST_FIT: If you press the reset-button, the order-lines will be placed with an automatically calculated distance to the current price.
    • RESET_PIP: If you press the reset-button, the SL level will be your given pip - distance to the current in-level.
  • ResetRiskValue: The risk value according to the "CloseProfitLossValueType" parameter (Absolute value or percent of balance value).
  • ResetValuePips: If you've selected RESET_PIP, this value will be used for setting the stop-loss-line.
  • AutoResetLevels: If true, the EA will automatically rearrange the tradelines, if the order of these lines is not correct.
  • TPSLRatioAfterReset: The ratio of take profit and stop loss after clicking the reset-button, 1.0 = same distance.

Choose what to display

  • ShowPips: if true, you will see the corresponding pip-values at the trade-lines [123].
  • ShowTPSLRatioAtLines: if true, you will see the ratio of tp/sl at the trade-lines.
  • ShowPricesAtLines: if true, the price-levels of the tp and sl lines will be displayed.
  • ShowTradeDirectionArrow: if true, the EA shows in the upper right corner of the chart an arrow, that shows the current trade-direction (long / short).
  • ShowBreakEvenOnAveraging: Shows the break-even-price-levels if you have multiple open orders of the same symbol (long, short and sum separately).
  • ShowOnlyBreakEvenSum: Only the break-even-sum of all orders will be displayed.
  • DrawHistoricTrades: If set to 'true' this tool is drawing lines that show you the last trades on the current symbol. (Depending on the trades in your history-tab, green = profit-trades, red = loss-trades).

Trailing-stop: Taking into account your magic number, comment and ThisEACheckProfitLossForAllSymbols setings

  • AutoTrailingStop: If true, trailing-stop will be performed.
  • TrailingStopPercentOfTP: if the price reaches X% of take-profit, trailing will start at entry-level.

Automatic stop-loss to break-even: Taking into account your magic number, comment and ThisEACheckProfitLossForAllSymbols setings

  • SLToBreakEven: If true, this EA checks if the price reaches the level to move stop-loss to entry level + X pip.
  • SLToBreakEvenDistanceCalculation:
    • ENTRY_TO_SL: If profit reaches X% of the distance between stop-loss and entry level, stop-loss will be moved to entry-level.
    • ENTRY_TO_TP: If profit reaches X% of the distance between take-profit and entry level, stop-loss will be moved to entry-level.
  • SLToBreakEvenAtPercentOfDistance: The distance % value.
  • SLToBreakEvenAddPipsToBreakEven: The number of pip that will be added to the entry-level (the new level of stop-loss).

Close on weekend: Taking into account your magic number, comment and ThisEACheckProfitLossForAllSymbols setings

  • CloseOnWeekend: Set to 'true', if you want, that your orders will be closed on Friday (market must be open).
  • ClosePendingOnWeekend: Set to 'true', if you want, that your pending orders will be deleted on Friday (market must be open).
  • CloseWeekendLocalhour: hour, at which your orders are to be closed/deleted on Fridays (local time - 0-23).

Other settings

  • LogMarketInfo: if you have detected a lot calculation problem, set this value to 'true' and send me a copy of your 'Expert' log.
  • IncreaseDecreaseFont: You can enter values from -6 to 10, if the original font size is too big or too small. This will have no effect on the window-size. Normally you don't need to make changes here.
Note: All your close values (profit and loss) should be positive! Zero = not activated.


Graphic objects: Lines

  • Orange Red line: Your Stop Loss level.
  • Blue line: Your order entry level.
  • Green line: Your Take Profit level.


Graphic objects:

  • Chg buy/sell: Automatically reverse your order type and the depending lines.
  • Reset lines: Set the Stop Loss and Take Profit to new values and the risk to 1% of your account equity.
  • Lock: This will lock the SL and TP-lines. You can now move all three lines with the blue IN-line.
  • In=Market: Automatically keep your entry level (blue line) to the actual price. Turn it on for market orders
  • Set market order: Open a market order with your current settings.
  • Set pending order: Open a pending order with your current settings.
  • Radio-Buttons:
    • Lot: Your entered value will be the fixed lot size for your orders
    • Abs: Your entered value is the risk (stop-loss) as absolute value in your currency. This tool calculates the lotsize automativcally.
    • Percent: Your entered value is the risk (stop-loss) as percent of your balance in your currency. This tool calculates the lotsize automativcally.
  • Field to enter your risk: Enter your risk as a value, according to the selected radio button.
  • Comment: Enter a comment for you orders here (optional)
  • Magic: Enter the magic number for your orders here (optional)
  • Close: Close all open active orders of the current symbol (and the pending orders!).
  • Panic: Close all orders.
  • Reverse: Changes your trade direction of the current symbol, taking into account the "Global parameter" settings (Filter by magic number and/or comment).
  • Double: Doubles the risk of your trades of the current symbol, taking into account the "Global parameter" settings (Filter by magic number and/or comment).

You can move the graphical order levels (In, Take Profit and Stop Loss) to your desired values. If your selected values do not fit to your maximum risk settings or to your possible lot sizes, you will get a warning message.

You can move this tool to every position on the screen by dragging the upper blue rectangle. The risk value is displayed in your currency and in percent (in brackets). On pending orders this tool automatically detects, if you want to open a limit or stop order. Error messages are displayed on the bottom of your chart and in the terminal window.

The following effects are not an issue:

  • If you are dealing with small lot sizes, this tool is trying to fit your Take Profit and Stop Loss levels to matching lot sizes. This can lead to a doubling your risk value not appear accurately calculated.
  • If you are moving the Stop Loss level, you will notice the same behavior. All values are adjusted to a matching lot size.
  • If your selected price level is too far away from the actual price, it's not possible to place a market order!.

Note:

  • If you are using some of my other tools, please update them first. It's really important!.
  • If you are dragging objects on your chart window: Don't stop dragging, if your mouse cursor is over a button! Releasing the mouse button over a button generates a button click event, be careful!.
  • If you are using the order-comments as a filter, please keep in mind, that the MT4-terminal can change the comment in an active order. This happens for example, if you close an order partially.

Please check this and every new version on a demo-account first!

If you've detected some problems, please write me a message.

At the moment not supported symbol types: Futures.

If you don't know how to buy products, please read this.

Easy Order Creator Fig. 1

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