Trade On Charts is designed to make manual trading easy and convenient. It helps you to open positions, manage positions, and close positions on the charts.
Main Functions
Trade Panel
- It supports market, limit, and stop orders.
- It’s a tabbed menu for setting up open positions, close positions, and managing current positions.
- Open positions can also be done by activating Chart Trading, which displays the opening price line on the chart, along with the target line and the stop loss line.
- Display of currently open positions and profits.
Open Tab
- This is the “Open” Tab, which handles all functions related with opening new positions, including using the Chart Lines for entry.
- This is the “Close” Tab, which handles all functions related with closing positions, and deleting pending orders.
- This is the “Positions” Tab, which displays all currently open positions, and their profit and loss information, and other details.
- This is the “tooltip” button, enabling it will show explanations for related buttons and functions. ( in progress )
- This is the button to expand the “Trade Panel”, or minimize the panel display, to save space on the chart.
- This is the button to maximize the “Trade Panel” display, so “Positions” tab can show all information completely.
- This button will close the application and delete it from the current chart.
- This button will enable “Chart Trading” lines when pressed. Pressing it again will disable the “Chart Trading” lines function set.
- After pressing button #8, “Chart Trading”, this button needs to be pressed afterwards to show “Buy Only”, or “Sell Only” type of orders on the chart trading lines. Which will enable price line, target line, and stop loss lines to be displayed, and dragged on the chart at will, thus setting up the orders accordingly.
- This is the “Comment” input section, where user can input the specific comment for this order.
- This is the “Lot Size” input section, you can input any lot size ( multiples of 0.01 ) directly, or you can use the switch up/down buttons to update the lot size.
- This is the “Grid” input section, which gives the ability for grid trading. It will open multiple trades of the lot size you specified on button #11 simultaneously. For example, if the Lot size is 0.1, and the Grid input is 3, it will open 3 orders and each order will have lot size 0.1. ( total size would be 0.1 * 3 = 0.3 in this case ).
- “Buy Market” button, this would open buy market orders based on the user settings on this trade panel.
- This is the section for “Buy Limit” orders. The entry place above “Buy Limit” button is where you can enter the limit price for this order. As designed, you could either enter the limit price yourself into the space, or you could use the switch up/down button to set the limit price.
- This is the section for “Buy Stop” orders. The entry place above “Buy Stop” button is where you can enter the stop price for this order.
- This is the section for setting up the “Target Price” for the open order. You can use either the “In Pip” top entry place to set up the target price, ( which will calculate the distance between opening price and the pip distance from the opening price as target automatically ). Or you could enter the target price directly on the “In Price” bottom entry place.
- “Sell Market” button, this would open sell market orders based on the user settings on this trade panel.
- This is the section for “Sell Limit” orders. The entry place above “Sell Limit” button is where you can enter the limit price for this order.
- This is the section for “Sell Stop” orders. The entry place above “Sell Stop” button is where you can enter the stop price for this order.
- This is the section for setting up the “Stop Loss Price” for the open order. You can use either the “In Pip” top entry place to set up the stop loss price, ( which will calculate the distance between opening price and the pip distance from the opening price as stop loss automatically ). Or you could enter the stop loss price directly on the “In Price” bottom entry place.
Chart Trading Functions
After button #8, “Chart Trading” is pressed on the “Trade Panel” ( on previous picture ), chart trading is enabled. Afterwards, you would need to press button #9 to choose if you want buy or sell type of order. The entry price line, target line, and stop loss line will appear on the chart accordingly. Below are the main features for chart trading.
- When you press this button, chart trading is turned on. The entry price line/target line/stop loss line, would be displayed on chart, as shown above. Pressing this button again, will disable chart trading, and all these lines would disappear from the chart.
- After the first button, you could need to press this button to choose “Buy Only” or “Sell Only” type of trading you want to enter. The lines will show all details accordingly.
- This is the “R”, reverse button. When this button is pressed, it will reverse the trades, just like the “Buy Only” or “Sell Only” button on the “Trade Panel”. This button is added here on the “Chart Trading” section, to make it more convenient to switch trade types on the fly.
- This is the “M” market button. It will enable “Buy Market” or “Sell Market” to be placed afterwards ( when you press the “Trade” button on the same line ).
- This is the “X” delete button. When this button is pressed, it will disable chart trading, and all the price lines, target lines, and stop loss lines will disappear from the chart.
- This is the “Target Line” for buy orders ( Or Stop loss line for sell orders ). It will show the #of pip distance from the entry price line, and the exact target price. Dragging this line would let you move the target price easily anywhere. It helps a lot when the horizontal lines are shown on the chart and you could see the support and resistance levels easily. Thus helping to set the target lines next to these levels which have the highest probability to get there based on your strategy or timeframe settings.
- This is the “Open Price Line”. For buy orders, it would be “Buy Limit” or “Buy Stop” depending if the opening price is below or above the current ask price. This line will display the lots you want ( The lots can be entered on the trade panel, also the grid entry too ). It will also display the exact entry price on this line. Dragging this line would let you change the entry price you want anywhere on the chart too. ( When it’s sell type of orders, it would show “Sell Limit” or “Sell Stop” accordingly, along with all other details ).
- This is the “Stop Loss Line” for buy orders. ( It’s the Target line for sell type of orders ). It will show the #of pip distance from the entry price line, and the exact stop loss price. Dragging this line would let you move the stop loss price easily anywhere. It helps a lot when the horizontal lines are shown on the chart and you could see the support and resistance levels easily. Thus helping to set the stop loss lines accordingly.
- This is the “Trade” button. Pressing this button will execute the trade immediately based on your settings. ( it will execute the lot size, with the grid ability to repeat same orders too ). All the stop loss and target prices are executed together with the opening order.
- This is the “UL” lock or unlock button for this line. ( Target line for buy order, and Stop loss line for sell order ). When this button is pressed, it will change its state from lock to unlock, or unlock to lock. When it shows “L” locked, then this line will not move when you drag other lines. When it shows “UL” unlocked, it’s free to move.
- This is the “P” button, the partial close button. ( in progress ).
- This is the “UL” lock or unlock button for this line. ( Stop loss line for buy order, and Target line for sell order ). When this button is pressed, it will change its state from lock to unlock, or unlock to lock. When it shows “L” locked, then this line will not move when you drag other lines. When it shows “UL” unlocked, it’s free to move.
Positions Tab
The Positions Tab will show all opening positions, the total profit/loss for these positions, and the average entry price information.