+1 888 340 6572
MultiCharts Project Management
previous_open_issue.png
Go to the previous open issue
previous_issue.png
Go to the previous issue (open or closed)
star_faded.png
Please log in to bookmark issues
feature_request_small.png
Open Feature request MC-1527

Multiple improvements to the chart trading to add flexibility for discretionary traders

action_vote_minus_faded.png
6
Votes
action_vote_plus_faded.png
next_issue.png
Go to the next issue (open or closed)
next_open_issue.png
Go to the next open issue
Description

Rigth now the chart trading abilities seem to be very basic.
Multiple improvements can be made to add a higher degree of flexibility for the discretionary traders not so familiar with programming strategies.
I. One order type to implement would be a position size varying stop level.
Position sizing depending mainly on the stop value and entry order level, as an input for the position size calculation the maximum risk in dollar or percentage of equity is used.
In detail this is done as following :
1. Setting the maximum initial risk within the order type settings
2. An Entry order level is selected and drawn on the chart
3. The default stop level fixed distance to the entry level is drawn onto the chart
4. By moving either the Entry order or the stop level, the position size is adjusted maintaining the initial risk as specified in the settings corresponding to this type of order.
II. Another way to improve the chart trading flexibility would be a way to add a exit order depending on a trendline or an indicator level. This should be done by
1. The indicator or trendline should be selected with right click
2. In the context menu select bullet use as exit strategy ( maybe there is a better phrase for it )
3. After that, a menu opens asking whether the complete position size should be exited, or only a specified fraction of the actual position size should be entered.
II. The definition of soft stops and hard stops should be possible. A soft stop is a stop level which is only executed after the close of the current bar, which penetrated the level is still penetrating this level. Therefore in case of a buy stop order the bar should close above the stop level to transform the stop order into a market order.
Hard stops are stops, which are placed, in case of a long entry, below the soft stop order those are executed in case this level is penetrated a execution is done immediately.

Steps to reproduce this issue

It is a feature request, therefore this is left intentionally empty.

Comments (1)
#1
user-offline.png  Michael B (michael b)
Nov 22, 2017 - 12:39

Excellent request! I hope it will take under consideration

History
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    Not determined
  • Status
    Not Reviewed
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (2)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
Attachments (0)
There is nothing attached to this issue
Commits (0)
There are no code checkins for this issue
Duplicate issues (0)
This issue does not have any duplicates