Trying to setup and use multicharts.  [SOLVED]

Hello Multicharts,

I have spent a few hours with your software as I have been planning on switching over to the discretionary free multicharts as I have heard good things. I have used a few platforms in the past such as NT but most recently have just been using the default TWS.

My main frustration is the setting up the charts to be useable for someone that does a lot of discretionary day trades. Why is there not a quick easy way to quickly change the timeframe on the chart? There are a ton of quick easy options to change the resolution of the candle/bar to everything but not the overall timeframe (data ranger) of the chart.

From what I can see if I want to adjust the timeframe of the chart I have to go to format instruments -> settings -> then adjust the data range there. Most charting software I have used allows one to quickly change the data range and the candle resolution generally from the same location quickly instead of having to go into menus. There should be a quicker way to do that... perhaps there is and I am just missing it?

Thanks

Hello Multicharts,

I have spent a few hours with your software as I have been planning on switching over to the discretionary free multicharts as I have heard good things. I have used a few platforms in the past such as NT but most recently have just been using the default TWS.

My main frustration is the setting up the charts to be useable for someone that does a lot of discretionary day trades. Why is there not a quick easy way to quickly change the timeframe on the chart? There are a ton of quick easy options to change the resolution of the candle/bar to everything but not the overall timeframe (data ranger) of the chart.

From what I can see if I want to adjust the timeframe of the chart I have to go to format instruments -> settings -> then adjust the data range there. Most charting software I have used allows one to quickly change the data range and the candle resolution generally from the same location quickly instead of having to go into menus. There should be a quicker way to do that... perhaps there is and I am just missing it?

Thanks

there are 2 ways to change the data range:

1. hover the cursor on the time scale... Hold down left button...
Then slide the mouse left and right to change the data range.

2. From the main menu, select View > Toolbars > Control

The first 2 icons are for expanding and compressing the data range.

Thanks I had not found those features yet but what if I want to actually adjust the data range of the chart to lets say 2 weeks back or a month, then to an 8 hour or so time frame? quickly?

I think the answer to my question will be to just create a new workspace with longer range time frames that I can reference instead of altering the ones I day trade off of. I am used to doing it all from one chart but with multicharts its easy to have... multiple charts!

How come when I right click on the charts I do not get an option to buy/sell? I am connected to IB and the features in chart trader work. The weird thing is a few times I had an option to buy/sell when right clicking but now I can't seem to get that again... thanks!

I have most things working so far and it is growing on my. One oddity is that when trading forex on IB using an exit strategy I have to list double the amount of pips that I want. For example if I want an automatic stop loss of 10 pips I have to put 20pips in the field as it seems to count .5 pip as a full pip...

Thanks I had not found those features yet but what if I want to actually adjust the data range of the chart to lets say 2 weeks back or a month, then to an 8 hour or so time frame? quickly?

You can double click on the instrument and the Settings menu will open (last one you visited). You can then change the data range with a couple of clicks and click OK. Maybe it's not as fast as you would like, but it's the only way for now. You can add a feature request to our PM if you would like to see this implemented.

I think the answer to my question will be to just create a new workspace with longer range time frames that I can reference instead of altering the ones I day trade off of. I am used to doing it all from one chart but with multicharts its easy to have... multiple charts!

You can also add the same instrument into the same chart, but with a longer data range.

How come when I right click on the charts I do not get an option to buy/sell? I am connected to IB and the features in chart trader work. The weird thing is a few times I had an option to buy/sell when right clicking but now I can't seem to get that again... thanks!

If the broker profile is connected, and the right-hand Trade Panel is open, this menu option to place an order should be there. However, I just tested on an IQFeed chart, and it wasn't there. Possible bug. We will investigate. Thanks for noticing this.

How come when I right click on the charts I do not get an option to buy/sell? I am connected to IB and the features in chart trader work. The weird thing is a few times I had an option to buy/sell when right clicking but now I can't seem to get that again... thanks!

If the broker profile is connected, and the right-hand Trade Panel is open, this menu option to place an order should be there. However, I just tested on an IQFeed chart, and it wasn't there. Possible bug. We will investigate. Thanks for noticing this.

How come when I right click on the charts I do not get an option to buy/sell? I am connected to IB and the features in chart trader work. The weird thing is a few times I had an option to buy/sell when right clicking but now I can't seem to get that again... thanks!

If the broker profile is connected, and the right-hand Trade Panel is open, this menu option to place an order should be there. However, I just tested on an IQFeed chart, and it wasn't there. Possible bug. We will investigate. Thanks for noticing this.

How come when I right click on the charts I do not get an option to buy/sell? I am connected to IB and the features in chart trader work. The weird thing is a few times I had an option to buy/sell when right clicking but now I can't seem to get that again... thanks!

Follow-up on your question. The broker profile has to be connected, the Trade Panel has to be expanded, AND if you are not using the chart from the broker, you need to setup proper symbol mapping. For example, if you are using an IQFeed charts, but you want to trade on Rithmic.. you will need to map your symbol through Symbol Mapping tab in the Edit Broker Profile window. Mapping means 'translating' your chart symbol into the language of your broker - for instance, @ES on your chart has to become ESM1 in order to be tradeable on Rithmic. Once that's setup, disconnect the profile, reconnect it again, and you Place Order menu will be there.

I have most things working so far and it is growing on my. One oddity is that when trading forex on IB using an exit strategy I have to list double the amount of pips that I want. For example if I want an automatic stop loss of 10 pips I have to put 20pips in the field as it seems to count .5 pip as a full pip...

What is your symbol? Please attach a screenshot of your Symbol Settings from your QuoteManager, and let us know what you consider to be one pip for this symbol.

Hello Stan,

Thank you for the feedback. I have pasted uploaded three pictures to show what I mean.

1st pic is my settings for stop loss parameter which shows 20pips.



2nd pic is an example using that exit strategy on GBP.USD. You can see that it works in setting an automatic stop loss but it only puts the stop loss 10pips down instead of 20.



3rd pic is as per your request a picture of the settings in quote manager.



I consider 20 pips 20 pips.. so if I have a buy limit order at 6450 I would expect my stop loss to be put at 6430 which would be 20 pips.

Hopefully I explained that properly. I think the problem is that IB has .5 pip movement and some other forex brokers might not? I am not sure as I have only used IB.

Thanks,

Also the open P/L doesn't work properly for me with forex. It flashes between the actual amount and zero and sometimes previous numbers in between. I will take a video of it if I find the time. Other then that I am really enjoying the new platform so far... thanks for making it free!