Easy Order Creator
Easily create a new market or pending order with automatic Stop Loss, Take Profit and lot size. Just move the graphic entry Stop Loss and Take Profit levels to the desired values and select the risk in percent of your equity. This tool automatically shows you the possible profit and loss and can open a market or pending order for you.
- MaxRiskPercentOfEquityâ€Maximum risk per order in percent of your current equity.
Graphic objects: Lines
- Orange Red lineâ€Your Stop Loss level.
- Blue lineâ€Your order-entry level.
- Green lineâ€Your Take Profit level.
Graphic objects: Buttons
- Chg buy/sellâ€Automatically reverses your order type and the depending lines.
- Reset linesâ€Sets the Stop Loss to 400 pips and the Take Profit to 800 pips.
- Set market orderâ€Opens a market order with your current settings.
- Set pending orderâ€Opens a pending order with your current settings.
- Close allâ€Closes all open active orders of the current symbol (not the pending orders!).
- Stick to market priceâ€Automatically keeps your entry level (blue line) to the actual price. Turn it on for market orders.
- Risk /2â€Half the risk.
- Risk *2â€Double the risk.
- Stop Loss-pips /2â€Half the Stop Loss pips.
- Stop Loss-pips *2â€Double the Stop Loss pips.
You can move the graphical order levels (in, Take Profit and Stop Loss) to your desired values. If your selected values do not fit to your maximum risk settings or to your possible lot sizes, you will get a warning message.
You can move this tool to every position on the screen by dragging the upper blue rectangle. The risk value is displayed in your currency and in percent (in brackets). On pending orders this tool automatically detects if you want to open a limit or stop order. Error messages are displayed on the bottom of your chart and in the terminal window.
The following effects are not an issue:
- If you are dealing with small lot sizes, this tool is trying to fit your Take Profit and Stop Loss levels to matching lot sizes. This can lead to a doubling your risk value not appear accurately calculated.
- If you are moving the Stop Loss level, you will notice the same behavior. All values are adjusted to a matching lot size.
- If your selected price level is too far away from the actual price, it’s not possible to place a market order!
If you are using some of my other tools, please update them first. It’s really important!
Another important thing: If you are dragging objects on your chart window, don’t stop dragging, if your mouse cursor is over a button! Releasing the mouse button over a button generates a button click event, be careful!
The demo version is limited to the symbol USDCAD!
If you’ve detected some problems, please write me a message.