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2017.01.31 12:42
Scripts

VFX New Order - script for MetaTrader 4

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This tool is designed to open positions in MetaTrader 4 terminals with absolute control of the risk / reward ratio, automatically calculating the lot size (without the need for manual calculations and/or spreadsheets) according to Risk and Stop Loss defined in the input parameters, with agility and precision (because everything is done in real time, that is, at the very moment of the inclusion of the order), directly in MT4 platform, assisting in a fundamental way in the risk management strategy of user.

The preservation of capital is the main rule for success in the financial market. Rigorous risk management techniques are the key to achieving the goals. In this context, this is the most valuable tool for the trader.

It calculates the size of the position respecting the risk and reward defined by the user, and adapts to various strategies. Basically, all the user needs to do is set where he want to place the stop loss, the risk / reward ratio, everything already directly in MT4 platform, and the order will be included according to these parameters.


Features

  • It works with all symbols, regardless of the timeframe;
  • Immediately executes an order or include a pending order;
  • Supports two types of definition of Risk: Percentage (account balance) or Amount;
  • Supports two types of definition of Stop Loss: Price or Points;
  • Supports four types of definition of Take Profit (Reward): Percentage (account balance), Amount, Price or Points;
  • You can add a Comment to the order, set the Magic Number and Slippage;
  • Easy to use and friendly interface.


Usage

  • Make sure that Auto Trading option is enabled in the toolbar and, with the chart of the symbol you wish to negotiate active, select the Navigator option in the View menu; in the Navigator window, select Scripts and then double-click VFX Trade Risk Control;
  • In the window that opens, select the Inputs tab and set the parameters as follows.


Input Parameters

  • Order Operation Type: select the operation type to be included: Buy, Sell, Buy Limit, Sell Limit, Buy Stop ou Sell Stop;
  • Set Pending Order Entry Level By: if the operation type is a pending order, select as the entry level this order will be informed: Price or Points;
  • Pending Order Entry Level: if the operation type is a pending order, set the entry level this order;
  • Set Order Risk By: select as the risk of operation will be informed: Percentage (account balance) or Amount;
  • Order Risk: risk of operation;
  • Set Stop Loss By: select as the stop loss will be informed: Price or Points;
  • Stop Loss: stop loss level;
  • Set Take Profit By: select as the take profit will be informed: Percentage (account balance), Amount, Price or Points;
  • Take Profit: take profit level;
  • Order Comment: you can add a comment on the operation (for example: a brief description of the strategy used, the price action signal, etc);
  • Order Magic Number: you can set the magic number for the operation (it may be useful, for example, for those using some tool for positions management);
  • Maximum Price Slippage: you can set the maximum price slippage when open positions (it may be useful, for example, in times of high market volatility).

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