Introduction of Trade Dashboard

This dashboard/panel is designed according to the basic principle of risk management which is the key element of successful trading to help manual traders make better decisions in shorter time.

You can control your risk, set reward to risk ratio, set multiple partial TP/SL, choose different types of trilling stops, set risk free options, set alarms, Set timer for closing/opening of new orders, and doing all this using dashboard visualization tools.

Main functions of the product:

• User friendly design and easy to use.
• Supports any trading instrument (currency pairs, indices, metals, commodities, cryptocurrencies).
• Change the symbol on all charts with one click.
• Different methods of lot calculation (Risk Percent, Risk dollar Amount, Fixed Lot Size)
• Calculate entry, stop loss and take profit levels on the chart before opening an order based on price/points/pips.
• Visually set SL/TP/Entry and taking trades by line.
• Automatically sets the ratio of stop loss to take profit.
• Showing Profit, loss and RR of the trade before opening an order.
• Showing Profit/Loss and Sum of lot size of existing orders.
• Closing tab, pending order tab and hedging tab.
• “Hedge” button, “Reverse” button, “Close By” button and “Close & Open Reverse” button.
• Showing information banner for each order.
• Separate modification panel to modify a single trade parameter.
• Set OCO option for pending orders (one cancels the other).
• Closing positions based on symbol, magic number, profit, loss and type of trade.
• Close orders and positions according Profit/Equity amounts or percent.
• Four trailing stop function. (Regular, Dynamic, Candle, Money)
• Trilling limit/stop orders.
• Risk free function with the ability to set pad amount and ties the risk-free start to SL size.
• TP partial close and SL partial close with different options.
• Visually set trailing stop, risk free and partial close options.
• Showing trailing stop, risk free and partial close prices on the chart.
• Separate trade time panel to set times for taking new trades, placing new orders or close/delete existing ones.
• Manage manual orders option to set SL/TP and dashboard options for manual trades.
• Setting of alarm to notify when price reaches a certain levels or times.
• Change dashboard sizes, font and font sizes.
• Automatic and manual screenshot.
• Setting hotkeys for dashboard buttons.
• Different panel coloring.
• Setting panel on left or right side of the chart.

Header Part:

1.  Symbol Changer: It is a combo box that show all symbols which exists in market watch. When you choose a symbol if there is no existing trade, the current chart will change to the specified symbol chart, if you already have a trade, it opens the specified symbol chart in a different window and apply a template to the chart. You can set any template of your choice., In this case, you need to give your template name to the dashboard inputs.

2. Spread sign: if current spread is less or equal than what user set in the it shows a green tick sign, otherwise it shown a red cross sign which means spread is more than what you expect. In the dashboard inputs you can change this max spread limit, also you can set not to trade when spread is higher than max spread.          

3.Minimizer: If you minimize the dashboard some useful buttons will move to the up side bar, this way you can see the charts freely and you can use the dashboard facilities at the same time. Using the buttons you can take a trade, place a pending order, modify a trade, see the information bar, set trade timer and so on.

4. Eye sign: When It is on, if you take a trade, risk free start price line, partial TP/SL price lines and trail start price line will be shown on the chart. Sometimes, you don’t want the chart to be crowded and you prefer not to see those lines, you can turn off eye button to remove those lines from the chart.

5.  Information box: when you take a trade. Dashboard shows an information box at the price of trade, this box shows trade lot size, reward to risk ratio, profit of the trade and its open price, it also includes menu button and close button.

6.    These buttons can hide or show Risk free price line, Trail start price line and partial close price lines before taking an order.

6.1   PC: Partial Close, this button hide/show partial close price lines.

6.2   RF: Risk Free, this button hide/show risk free price lines.

6.3   TS: Trail Start, this button hide/show Trail Start price lines.

7.       Market Session: Show Market Session based on GMT time.

Trade Tab:

1.  Risk Value: if Risk Mode is set to “Percent”, here you must set the risk percent of capital, if Risk Mode is set to “Amount$”, you must set the dollar amount that you want to risk on each trade. If Risk Mode is set to “Fixed Lot”, this box will turn gray and cannot be changes anymore, you have to set the trade lot size from “LotSize” box.

2.  Draw SL&TP: if you click on “Blue” button it displays Price/SL/TP lines on the chart assuming you want to take a buy position, if you click on “Red” button it displays Price/SL/TP lines on the chart assuming you want to take a sell position. Using lines on the chart you can visually take trades and set SL/TP.

3.TP/SL Ratio: If you press this button, the dashboard will keep the TP to SL ratio, that is when you change TP line, SL line will change accordingly and visa versa.

4.Trade Lot Size: This box is automatically calculated using Risk Value box and Stop loss value, however if you ser Risk Mode to “Fixed Lot Size” this box will turn to white and you can set your preferred lot size manually.

5.Change Numbers Unit: if you press it, it will change to “Price”, then you can set SL/TP/Entry based on prices instead of points. Also you can change Measure Mode to “Points”, ”Pips”, ”Points*100”, ”Points*1000”, ”Points*10000” as well.

6.       Order Entry For Pending Order: Distance of order price to current price for placing pending order.

7.       Take Profit. If you set it to 0 it won’t place any take profit for the trade.

8.       Stop Loss. If you set it to 0 it won’t place any stop loss for the trade.

9.       Reward/Risk/RR: The dashboard calculates reward based on take profit and lot size, risk based on stop loss and lost size and reward to risk proportion.

10.       Total Profit: It is sum of profits of all trades taken by dashboard including swap and commissions.

11.        Net Lot: Buy trades lot sizes will consider positive and sell trade lost sizes will consider negative, sum of all buy and sell trades taken by the dashboard creates net lot.

12.       Gauge Icon: This icon will change its below part to give the user different buttons of placing pending order, closing positions and hedging positions.

Gauge window:

Gauge window has three modes, each mode gives you different options.

Pending Orders Mode:

 Using this window, you can place pending orders and delete pending orders.

Close Positions Mode:

 This window gives multiple options to close existing positions.

Hedge Positions Mode:

    1. Hedge Button: Pressing this button the dashboard takes a trade to hedge all existing trades. After hedging total lot size of buy positions must be equal to total lot size of sell positions. Please note that it cannot hedge if total buy lots already equals to total sell lots.

     2.  Close By: This button will close buy positions by sell positions, therefore It cuts transaction costs. Please note that some brokers do not support this function.

     3. Reverse: It takes a reverse trade to the existing trades with multiplied lot size. You can change the multiplier in dashboard inputs.

     4. Close&open reverse: It first close all existing positions and then open a reverse position with multiplied lot size.

Lines

These are trading lines, you can move each of them freely in the chart and visually set, SL, TP or price line, you can press the “Buy Limit” button to place an order, The button might be “Buy Stop”, “Sell Stop”, “Sell Limit”, “Buy”, or “Sell” as per line location and your settings.

• If you press the arrow at the end of each information box, that line will be frozen on the chart and cannot move any more.
• You can change the color of SL/TP boxes or you can remove them in the dashboard inputs. Settings.
• When you move each box, the information changes automatically based on new prices.
• The lines originally magnetize to the Ask/Bid price based on position type, you can change magnetization factor in the dashboard inputs settings, if you set it to zero there will be no magnetization to Ask/Bid prices.

Close Tab

1.  All Symbols: If you press this button, all functions of this tab works based all symbols not just the chart symbols. (Magic Number depends on other setting)

2.  All Magic Number: If you press this button, all functions of this tab works based all magic numbers. (Symbol depends on other setting)

3.  Profit/%: if you set it to “Profit”, Total Profit and Equity conditions works based on their value, however if you set it to “%”, Total Profit and Equity conditions works based their percentage of account deposits.

4.  Bigger/Less: if you set is to “>>”, that means Total Profit or Equity must be bigger than the value, if you set is to “<<”, that means Total Profit or Equity must be less than the value.

Options>Partial Close

1. Three options to set partial close lot.

1.1   Lot: you have to give a lot size for each partial close level.

2.1   % Initial Lot: you have to give a percent for each partial close level, the lot size will be calculated based on initial lot size of the trade.

3.1   % Current Lot: you have to give a percent for each partial close level, the lot size will be calculated based on current lot size of the trade.

2.       Three options to set partial close distance.

2.1   Points: the distance can be set based on “Points”, if you change the calculation mode from the dashboard inputs you can set it based on ”Pips”, ”Points*100”, ”Points*1000”, ”Points*10000” as well. Also you can change the partial close price visually on the chart by moving the its line.

2.2   RR: You can set partial close distance based on stop loss size. For example if you set it to 0.5R and your stop loss is 100 pips, then the partial close distance is 50pips.

2.3   %: you can set partial close distance based on percent of TP and SL. For example if you set TP2 to 40% and your TP size is 200 pips your partial close for TP2 would be 80pips. If you set your SL1 to 35% and your SL size is 100 pips then your partial close for SL1 is 35pips.  

Options>Risk Free

1-RF/SL Ratio: If you press this button, Risk Free start will depend on SL size, then if you change SL size, risk free start will automatically change.               

 

Options>Trail>Regular Trail Stop

Regular trail stop is the most common way of trailing.

1.       TS Start: At what distance Regular TS must be start.

2.       TS Stop: When It starts, SL must be set to what distance from current price.

3.       TS Step: At what distance SL must be updated again.

Options>Trail >Dynamic Trail Stop

Dynamic trail stop is works based on TP to SL ratio of a trade . It modifies stop loss in a way to keep the proportion between current profit and potential loss.

1.       Dynamic Start: At what distance it starts Dynamic Trailing.

2.       Dynamic Step: At what distance SL must be updated again.

Options>Trail>Candle Trail Stop

Candle trail stop works based on High/Los of the previous candles, It modifies stop loss to the new high/low of past candles as per settings.

1.       Start: At what distance it starts Candle Trailing.

2.       Pad Amount: Distance from High/Low of candles to set new stop loss.

3.       Candles Back: Number of previous candles to find highest high or lowest low.

Options>Trail>Money Trail Stop

Money trailing works based on position profit instead of position distance, It sets new stop loss in a way to maintain certain amount of profit as per condition.

1.       Profit Start: At what profit it starts Money Trail.

2.       Profit Stop: It is an amount of profit which is preserved after Money Trail starts, that is the dashboard sets new stop loss in a price to keep at lease this mush amount of profit.

3.       Profit Step: The amount of profit to updates the stop loss again.

Options>Trail>Trail Limit

This function works for pending orders, It keep modifying open price of pending orders to keep a certain distance between market price and order open price.

1.       Distance: the max distance between market price and order open price.

2.       Step: distance to updates the order open price again after first modification.

Info>Report

Report tab gives different information about the account trades.

1.       Symbol: You can get the report for a certain symbol, if you choose “All” it gives report for all symbols.

2.       Magic Number: You can get the report for any magic number of your choice, keep in mind that the magic number for manual trades is zero.

3.       Days Number: Number of previous days to export trade data excluding off days,

4.       Export Trade Data: It created an Excel file and save it to “MQL4\Files\Trade Dashboard_V1\AccountHistoryData” including all trades history for the past 30 business days.

Info>Symbol info

This tab gives general information about chart symbol including worth of 1 pip for 1 lot of trade.

Info>Account info

This tab gives general information about your MT account.

Setting Tab

You can set the general setting of the dashboard here.

1.       Risk % Based: In the trade tab you can choose “Risk Mode”. If you choose “Percent” for Risk mode, here you can choose if you want to risk based on “Balance”, “Equity”, “Free Margin” or “Custom Amount”.

2.       Custom Amount: if you choose “Custom Amount” as your “Risk % Based”, you have to set that amount in this box.

3.       Max Spread: The Spread sign changes based on this value, for example now spread sign shows a Red Cross because current spread is higher than 30. If you check this option, dashboard won’t allow you to take a trade if current spread is more than what you set here.

4.       Slippage: You can choose the slippage amount for taking trades.

5.       Virtual SL/TP: if you check this box, SL and TP of trades will be hidden from broker and they execute by dashboard.

6.       OCO: if you check this box, once you have multiple pending orders if one activates the other ones will get cancel automatically.

7.       Manage Manual Order: if you choose this option, once you manually take a trade, the dashboard will automatically takes control of that trade, if the trade has not SL/TP, dashboard will put SL/TP for the trade and all the setting of Partial Close, Risk Free, Trail Stop and other settings will be set for that manual trade, you can take a trade with you phone and let the dashboard handle that trade.

Alert Tab

In this tab, you can select a type of condition to give you alert. For example, if you choose “Ask<TrendLine” The dashboard gives you a trendline in the chart and you can modify it, once Ask price goes above it, the dashboard gives you alert. The alert can be shown on the screen, can play sound, can show on your phone with push notification option, and can be sent you your Email.

1.       Color: each condition give you a line with a specific color, that color is shown here, so that you identify the line correctly.

2.       Iteration: When the condition is met, it repeats the alert. After repletion completed the line will be removed from chart automatically.

3.       Interval: The alert repetition is implemented with some interval time in between.

Trade Time Manager

Trade time manager give you the ability to perform actions by setting time in advance, In the “Active” box, you need to choose the action, if you choose Close or Delete, list of existing order tickets will be shown on the “Ticket” box and you have to select the order to Close or Delete.

·         Close action can only be set for existing active Buy/Sell positions.

·         Delete action can only be set for existing pending Buy/Sell orders. If the pending order gets activated before delete time, it won’t be closed any more.

·         Close/Delete action can only be set for existing pending Buy/Sell orders. If the pending order gets activated before delete time, it will be closed at the specified time.

You can see the list of actions and you can remove them by selecting each row and pressing “Remove”.

Information Box

When you take a trade or place a pending order, an information box appears on the chart.

1.       Menu button: when you press this button, SL bar and TP bar is shown on the chart and modification panel opens. You can easily modify SL/TP moving their bars and you can modify specific trade parameters using modification panel.

Modification Panel:

Using modification panel, you can modify its function and configuration of a single trade.

1.       Number unit, you can change to “Price” and then set SL/TP/Entry based on price, when you change any box modification will be taken immediately.

2.       Price Modify: for pending orders if then check box is on and you move price banner pending order price will be modified as well as its TP and SL.

·         In Close tab you can close part of the position based on lot or percent.

·         In “PClose” tab you can modify Partial Close options for the trade.

·         In “RF” tab you can modify Risk Free option for the trade.

·         In “Trail” tab you can modify trailing stop options and trailing limit option for the trade.

·         If you set any of those options the text will be shown in green color.

Expiration

If you press expiration button the time can be modified and if you modify it, expiration will be set. Also, it gives you a green arrow on the chart and you can move the arrow to set expiration time visually on the chart.

Hotkey

You can set hotkeys to speed up your trade commands. Here are the default keys, however you can change it in dashboard settings.

Screenshots

When you press the Camera button on the dashboard a screenshot will be taken and stored in the specified folder.

The directory is: File / Open data directory MQL4 \ Files \ Trade Dashboard \ Screenshots

Also, if you choose “Auto Screenshot” in dashboard settings, it will take an screenshot automatically when any trade operation has been taken.

Links

How to buy the app >> https://www.metatrader5.com/en/terminal/help/market/market_buy