Bracket in MultiCharts is a One-Cancel-Other (OCO) order group, with one limit order and one stop order. This exit strategy is a one-click combo of the stop loss and profit target. If one of these orders is filled, the other one will be cancelled by MultiCharts. Targets placed separately from stop losses, provide more flexibility, but they also come with the responsibility of cancelling orders no longer needed.
Bracket Strategy is displayed as green and maroon markers on the chart connected to the order price label on the price scale with a dotted line and as green and maroon markers in the DOM window.
For the chart window, Connecting line length can be modified in Format Chart Trading menu.
Applying Bracket Exit Strategy
Apply Bracket Exit Strategy to an active order or open position by one of the following methods:
- Drag-and-drop the Bracket icon to an active order or open position on the chart; or:
- Drag-and-drop the Bracket icon to an active order or open position on the DOM window; or:
- Right-click on the active order or open position on the chart to see the shortcut menu, select Attach Exit Strategy and click Bracket.
- Right-click on the active order or open position on the DOM window to see the shortcut menu, select Attach Exit Strategy and click Bracket.
- Right-click on the Bracket icon in the Exit Strategy menu to see the shortcut menu and check Apply To Open Position.
To modify default Bracket Parameters:
- Right-click the Bracket icon in the Exit Strategy menu to see the shortcut menu.
- Click Edit…
- Modify profit target and stop loss values in Profit Target and Stop Loss boxes.
Profit target and stop loss levels can be both set as price levels or offsets. Click the Price Level button or the Offset button to switch between entry modes.
Offset values can be indicated as ticks or %. To change indication type, click the Tick/Percent button.
Click More Parameters >> to show Time In Force field (see Time in Force section) and Stop Loss type buttons. Stop Loss type buttons allow to choose the type of the Stop Loss order: Stop Market or Stop Limit with adjustable offset.
To save custom parameters, click Save.
Auto Attach Bracket Exit Strategy to orders by one of the following methods:
- Right-click the Bracket icon in the Exit Strategy menu to see the shortcut menu, then check Auto Attach to Orders; or:
- Double-click the Bracket icon in the Exit Strategy menu; or:
- Enable Auto Attach to Orders feature in the Place Strategy window when applying the strategy.
When one or several Exit Strategies auto attached, the Pause/Auto Apply button with the number of auto attached exit strategies in brackets will be shown in Exit Strategy menu. Click Pause to temporarily disable auto attach feature.
When auto attach feature is paused, no Exit Strategies will be automatically applied to an each new entry.
To re-enable auto attach feature click Auto Apply.
Saving as Template
- Open Strategy Parameters window by one of the following methods:
- Modify default Bracket parameters.
- Click Save
- Choose the Bracket Template icon .
- Enter Bracket Template name.
- Click OK