Automated Trading

Even with a winning strategy, just a short delay in order execution can make all the difference. After developing a strategy, the next step is to actually send the orders. The key advantage of automated trading is that it can send orders a lot faster than a human being, and this can give you an advantage over the competition.

How does auto trading work?

Orders generated by a trading strategy in MultiCharts are sent directly to the broker’s server. Then the broker responds with a message about the order status, and you can see on your chart if the trade was successful.

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Stop watching the market
Auto trading is very convenient, because once you have written and tested your logic—you no longer need to constantly watch the market. Also, automated trading makes trading high-frequency strategies possible. With trading systems like these, manual order entry would result in unacceptably long delays, and it would not be possible to trade them.

Plenty of trading gateways to choose from

MultiCharts supports a large number of trading gateways, and more are added in each new version. See the Supported Brokers page for complete details.

Let the software do the trading

MultiCharts provides stable auto trading that can operate without constant monitoring. Your strategy has constant access to the real broker market position directly from the code, and it has all necessary information to automatically fix any possible asynchronization.

Orders that match the real world

A characteristic feature of MultiCharts’ automated trade execution is that orders are sent at the close of the previous bar—instead of being sent at the moment when they appear on the chart. This approach ensures that prices, at which the orders are actually filled, correspond closely to the prices on the chart.

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Support for multiple order types
In addition to market orders, MultiCharts supports limit, stop, bracket, and one-cancels-other (also known as one-cancels-all) orders. Visual and audio alerts help in monitoring order status.

Automated resending of unfilled orders
Resend unfilled orders automatically. Just because limit or stop orders were sent, it doesn’t mean they were necessarily filled by the broker. Unfilled Strategy Order Replacement options can be used to keep the strategy synchronized with the actual trading position. For example, you can specify that after a certain period of time, all unexecuted limit and stop orders will be converted to market orders.

Matching data and broker information
Make sure datafeeds and brokers understand each other. The Symbol Dictionary is crucial when your broker is not the same as your datafeed. There is no one strict standard for describing symbols, so symbol names often don’t match. You need to make sure that orders generated on a symbol get recognized by the broker. For example, the symbol Google is named GOOG on some datafeed, but the broker will only take orders for GOOGLE. You can simply open the Symbol Dictionary and make the necessary changes. The chart will still appear as GOOG, but the order will be sent with the updated information—making sure that the broker understands what you want to trade.

Auto trade one symbol in different ways
Auto trade the same symbol from several charts. Yes, you can do that. MultiCharts can send trading signals from several charts or even computers simultaneously. What’s more, if the same symbol is traded from several charts, the market position for each chart will be tracked separately.

Support for financial advisor accounts
Some brokers, such as Interactive Brokers, support financial advisor accounts. Having such an account makes it possible to trade multiple sub-accounts using a single main account.

Choose your automated trading mode

MultiCharts has two modes for auto trading: Synchronous and Asynchronous. Each one has its advantages and drawbacks.

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Avoid discrepancies
The synchronous auto trading mode is a mode where entries/exits are plotted on the chart only after orders have been executed at the broker. The synchronous auto trading mode ensures avoiding discrepancies between the market position on the chart and the market position at the broker.

Guarantee that orders are filled
The asynchronous auto trading mode is the mode where entries/exits are plotted on the chart when the price value meets the strategy conditions. However order execution by the broker is not guaranteed in case the conversion of unexecuted limit/stop entry orders is not enabled. It may cause a market position conflict between the chart and the broker. Enabling order conversion guarantees that the order will be filled at the broker, although the executed order price value could be different from the order price plotted on the chart.

Start live trading in seconds

You can easily control auto trading with a switch conveniently located at the top left of your chart. Simply click it to turn auto trading on or off. If it’s green, that means you are trading live—if it’s grey, then you are in backtesting mode. Letters ‘AA’ on the switch indicate that you have asynchronous auto trading selected, and ‘SA’ mean you chose synchronous auto trading.

Easily track your orders and strategy positions

An important feature of MultiCharts is called the Order and Position Tracker. In this separate window, you can easily view information about strategy orders and open positions.

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Order status fields
There are many fields that provide important information about orders, such as Filled/Cancelled status, Instrument name, Resolution, Order Name, Category, Quantity, Broker, Strategy Name and Workspace. Many important fields about strategy positions are also available, such as Strategy Position, Broker Position, Positions Match, Strategy P/L, Open P/L, Broker and Strategy Name.

Find the information you need
Many convenient filters give you the ability to find the information you need – quickly and easily. The Log tab gives the ability to see technical messages from the broker and from MultiCharts.

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Risk Warning:
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.