KL TLine Buy Sell Close KLVOM
This tool uses three lines - Buy, Sell and Close All Opened Orders (CAOO). With these lines, you can open a new order or close all opened orders exactly on tops or bottoms and in this way increase profits and minimize losses. You can use Buy or Sell line to open order and CAOO line as tight SL. CAOO trendline can be used as TP or SL, also it is perfect line for scalpers that can secure profits disallowing price pullback. CAOO line has protection against accidental activation with a sound alert. This is a perfect tool for Scalpers and Day Traders. This is an indicator, so it cannot limit your Expert Advisor on the current chart.
- This indicator does not work without KL Visual Order Manager v3.0.
- Also, you can use this indicator with free Joke EA but in this case this EA does not work with Money Management indicator and your risk is always equal to 3% of the Account Balance.
Since indicators normally cannot manage orders, KL TLine Buy Sell Close KLVOM calls EA KL Visual Order Manager v3.0 (KLVOM) responsible for opening and closing orders. Default lot size calculation for buy or sell order is equal to 3% of your Account Balance for SL = 25 pips, it also means you can open a few equal orders with the same lot size that is 3% of risk (in opposite to Account Equity). To use different percentage value of account balance scripts, you need indicator Money Management and Order Screenshot that has the function of risk calculating from 0.1% of your Account Balance. With this indicator, you can edit values of SL and Risk and read the lot outcome directly on the chart (and more).
This indicator creates three trend lines in vertical position with descriptions “Sell”, “Buy” and “CAOO sure?”. CAOO means Close All Opened Orders. “sure?” will be explained later with CAOO, Buy or Sell line. Using this line is very easy. What you need is only to set this line as trend line and wait when price (BID- that you see) hits trendline…...For full description of this indicator, go to http://Klore-FX.eu
…Because of market execution, for sure this line is not deleted as default for 10 seconds. CAOO sure? is perfect line for scalpers that can secure profits by disallowing pullback.
Visibility of lines is set from M1 to H1. For managing lines of indicator, I am using KL Delete Lines Buy Sell Close script with Alt+D hotkey that you need to set manually. If you want to hide the lines of KL TLine Buy Sell Close when they are not needed, skip to MN timeframe and press Alt+D. To restore these lines to “start” position on your current timeframe (M1 to H1), use Alt+D again. The indicator can send push notifications via KLVOM. You need to have proper settings for push notifications (MetaQuotes ID).
So, in order for KL TLine Buy Sell Close KLVOM to work, you need:
- KL Visual Order Manager v3.0 - advanced tool for managing orders and a chart, in this case for sending orders.
- KL Delete Lines Buy Sell Close - to hide and restore lines, you need to set hotkey that delete lines, for instance, Alt+D.
- Money Management and Order Screenshot - for managing the lot size for orders from 0.1% of Account Balance, also this indicator can take screenshots whenever order(s) are opened, closed or modified and show you some important information about account and current chart.
- In chart properties (F8) Show object description - enabled.
If you have any questions or suggestions, feel free to let me know. Feedback (especially improvement ideas) is most welcome.