Verdure Timed Closure
Verdure Timed Closure
Verdure Timed Closure (VTC) is a utility Expert Advisor that helps you to close market orders at a preset time. It gives you the flexibility to walk away from the screen and do other things you love doing and the assurance that your orders would be closed at exactly the time set (up to seconds granularity). It is a great implementation of order expiry on market orders on the MT4 platform. It can also be used to implement Good-for-day orders so that you can avoid roll over or swap charges if you are a day trader. VTC EA is implemented as a panel with a simple, sleek and intuitive interface which provides a view of all managed orders.
- GFD - set 'True' to implement Good-for-day orders, otherwise leave as 'False'.
- defaultclosetime - this is the time you want to close all orders. See Implementing GFD section below.
- localrollovertime - roll over time in your local timezone. See Implementing GFD section below.
- closemode - mode of the EA operation. LOCAL or GLOBAL. In LOCAL Mode, orders of Symbol, on which the EA is placed, are closed. In GLOBAL Mode, all orders irrespective of the symbol placed are closed. Only put the EA on one chart in GLOBAL Mode.
- alert - display and sound alert.
- pushnotification - push notification to the mobile terminal.
- sendemail - send email to email address configured in MetaTrader 4.
Benefits of Using Verdure Timed Closure
- Up to second level time granularity
- Simple, sleek and intuitive interface (you do not need a manual, just check the screenshots)
- Helps to implement Good-for-day (GFD) orders, so that you can avoid roll over or swap charges if you are a day trader
- Configurable to send emails, alerts and push notifications, so that you can know what exactly is happening even when you are not there.
- Reduces screen time
- Even if the system crashes, or you mistakenly close the panel or something unexpected happens, your tickets would be loaded from a file on startup so you do not have to worry about a thing. The filename is verdure_timed_closure.txt in <Data Folder>/MQL4/Files
- You have visibility of what tickets are being managed by the EA in the panel interface for peace of mind
- Errors are properly logged in the Experts tab for user's assessment and troubleshooting
Implementing GFD with Verdure Timed Closure
Good-for-day (GFD) Orders are orders that remain open until the trading day ends after which they are automatically closed. For most brokers, the roll over time usually denotes the end of the trading day. Roll over time is the time when commissions and charges are applied to orders that remain open until the next trading day.
To implement GFD:
- Set the 'GFD' input parameter to 'True' from the input tab of EA.
- Set the 'closemode' parameter appropriately.
- Set time to start processing orders for closure with 'defaultclosetime' parameter (this MUST be your LOCAL TIME and not your broker's time).
- Set the local roll over time by 'localrollovertime' parameter (this MUST be your LOCAL TIME and not your broker's time).
Verdure Timed Closure processes open orders for closure between the time set in 'defaultclosetime' and 'localrollovertime' parameters. In other words, the 'defaultclosetime' and 'localrollovertime' set a window, in which GFD orders are processed. You can find your broker's roll over time on their website or by asking support. Once you have obtained your broker's roll over time, convert to your local time and enter in the 'localrollovertime' parameter. We advise that you leave some time for all open orders to be closed by the EA. From testing, Verdure Timed Closure EA was able to close 200 market orders in 45 seconds. This is only a guide as performance is dependent on several factors such as system configuration, latency to broker's server, Internet speed, amount of orders to be closed, etc.
NOTE: Tickets that are manually added and that are displayed in the panel are NOT processed for end of the day closure. If you do not want certain orders to be closed in the GFD mode, simply add the tickets in the panel and specify a time in the future and they will not be closed when GFD orders are being processed.