Package: DIDA's
Kiwi Trendline Limit Entry for MultiCharts
Have you ever wished you
could just place a line on the chart and have the
platform buy or sell at that level without further
ado?
Even better, how about a
smart program that draws buy/sell lines for you, let's
you drag them around and activate/deactivate them at
will?
CodeForTraders is pleased to offer DIDA's Kiwi
Trendline Limit Entry Package for MultiCharts.
What It Is
The
Kiwi Trendline Limit Entry Package is a signal and
a set of functions that will place Buy and SellShort
trendlines on the chart for you and subsequently let
you manage the placement and activation of these
trendlines for actual trading.
In a phrase:
Chart Trading !
What It Does
The
Kiwi Trendline Limit Entry Package allows you to
make a manual entry into the MC automated trading
environment (similar to
MEA, but different).
What we mean by "manual
entry" is that you do not have to pre-compute your
entry logic or levels ahead of time. Instead,
you simply place the line(s) on the chart by eye at
whatever levels you wish to enter with a limit
order.
Since your entry order is actually placed by the
Autotrader, your entry
is an automated entry in every respect - except that
you decided on-the-fly the level at which the entry would take place!
To reiterate, the trade you
get is an automated trade. You
instruct the Autotrader where to enter, and
it does so. Hence, you can use an
automated exit (e.g. '_Stops & Targets', or any
other) to close the trade (or else drag the exit
line to trigger your exit manually).
What It Looks Like
Observe the yellow and cyan
horizontal trendlines:
These
lines were placed either manually, or automatically by the Kiwi TL Limit
Entry signal, a bit above and below the current
market. As shown, the lines are inactive.
You may drag them around at will. Until you
activate them, the lines are inert.
Notice the text to the left
of the line? When you are ready to activate
the line, simply change the color of that text to
White, using your right mouse button menu, and the
line will become active for trading. Notice
the red 'SE
Lmt LIVE', indicating
an active Short Entry line:
Alternatively, you may
activate an entry line by dragging its label text
upwards (just a bit will do). As with the
color change, this will be detected on the next tick
and the line will then be activated.
Once a trade is entered,
the opposite line switches from being an entry line
to being an optional profit target. Notice the lower
line is now "SX", for short-exit (but not LIVE
yet):
Activation is the same for
exit lines as for entry lines. if you wish to
activate the an exit line, change its text-label color to
White (or drag the label upwards), and on the
following tick it will become active.
Here we see the Short Exit
line ("SX") once it has been made LIVE:
Finally, here is a picture of the
trade completed after price has reached the target
line:
If you wish, you may pair
any automated exit signal of your choice with the
TL Limit Entry trader for automatic exit management
once you are in the trade. (You probably want
to do this to create a stop loss.)
The on-chart text to the
right functions the same way - set the color of the
desired action to White, and it will happen on the
next tick.
Both inactive and active
lines may be dragged, for maximum flexibility.
Want to see it in action?
Here's a video:
Video: Kiwi TL Limit
Signal - Activating and Moving the Lines
Imagine How You Could Trade
1.
Trade congestion boundaries or Fib levels as they
develop live, with no need for complex
pre-calculation.
2.
Go long at support or short at resistance, even if
the support/resistance is a level that was
established days ago.
3.
Drag your line behind the market and get filled on a
retracement.
4. Use your
imagination!
What You Get
