Getting Started with AutoTrading

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Setting Up Auto Trading in MultiCharts

  1. Determine the symbol to plot on a chart. In QuoteManager, verify that that the Price Scale, Min Movement, and Big Point Value settings for the symbol are correct. MultiCharts will have the correct settings for most of the symbols, but it is not possible to cover every symbol. If these settings are not correct, then the chart will not plot properly and orders may be rejected by the execution gateway. To learn more, see Setting Properties.
  2. Create a chart of the necessary symbol. To learn more, see Creating Charts.
  3. Add the necessary signals to the chart. To learn more, see Using Studies.
  4. Set signal and strategy properties. To learn more, see Signal Settings and Strategy Properties.
  5. Open the Strategy Properties window.

    To open the Strategy Properties window:
    1. Open the Format Objects window.

      To open the Format Objects window, right-click on an empty area of the chart and then click Format Signals.

      The Format Objects window can also be opened by one of the following methods:
        - Select Format in the main menu and click Signal.
        - Double-click any one of the signal's labels on the chart.
        - Position the mouse pointer over any one of the signal's labels on the chart; once the Pointer Pointer.png changes into a Hand Hand.png, right-click the label and then click Format Signals.

    2. Select the Signals tab.
    3. Click Properties to open the Strategy Properties window.

  6. Select the Auto Trading tab.
  7. Select the Require order confirmation check box to have the opportunity to confirm or reject each order before it is sent to the execution gateway.
  8. Select Replace to Market Partially Filled Orders check box to automatically convert the remaining portion of a partially filled limit order into a market order. For example, there is a sell limit order above the market price for 10 contracts. The trading price touches the sell limit price, but pulls back. Six of the contracts are filled and the remaining four contracts are unfilled. MultiCharts will convert the sell limit order for the remaining contracts to a sell market order at the close of the bar. (e.g., If the chart is plotting 5 minute bars, then the remaining portion of the limit order will be converted to a market order at the close of the 5 minute bar.)

    Note: As long as there is a partially filled order, MultiCharts will always convert the order as described in this step regardless of any settings that are in Unfilled Strategy Order Replacement. If the order was not partially filled and Unfilled Strategy Order Replacement was turned on, then MultiCharts will convert the order according to the settings in Unfilled Strategy Order Replacement.

  9. Select the Show order execution status check box to have a status message displayed every time an order is sent, canceled, filled, or rejected, or any other informational message is received from the gateway application.
  10. Select the Audio Alert check box and choose a sound file to activate an audio alert every time a notification window appears.
    Selecting an Alert Sound File:
    1. Enter the path and name of the wave (.wav) sound file to be used into the File text box, or click the ... ellipse.gif button on the right side of the text box for Open dialog box, navigate to and select a sound file, and click the Open button.
    2. Click the Test button to test the alert.
    3. Select Play Once or Repeat for the alerts to be played once or repeatedly, respectively.
  11. In the Mode Selection section, there are two options: synchronous and asynchronous mode.
    1. Select Entries/Exits are based on the execution confirmation by the broker (Sync) option for synchronous auto trading mode (SA).
    2. Select Entries/Exits are independent of the execution confirmation by the broker (Async) option in the Mode Selection section for Asynchronous auto trading mode (AA). If AA is selected, two group boxes become available.

    Unfilled Strategy Order Replacement
    This feature gives the strategy the ability to automatically convert limit orders or stop orders into market orders after a certain period of time.
    • Select Convert unexecuted limit or stop entry orders to market orders check box to convert unexecuted limit or stop entry orders to market after a specified number of seconds. Enter the number of seconds in the list box.
    • Select Convert unexecuted limit or stop exit orders to market orders check box to convert unexecuted limit or stop exit orders to market after a specified number of seconds. Enter the number of seconds in the list box.
      Note: The waiting period for converting unfilled limit or stop orders to market orders must be less than the duration of a single bar.

      Note: As long as the order is completely unfilled, MultiCharts will always convert the order as described in this step regardless of any settings under Replace to Market Partially Filled Orders. If there is a partially filled order and Replace to Market Partially Filled Orders was turned on, then MultiCharts will convert the order according to the settings in Replace to Market Partially Filled Orders.


    Assign the Initial Market Position at the Broker Settings
    To learn more, see Synchronization of Market Position in Auto Trading Mode.
    • Select Show the Assign the Initial Market Position at the Broker radio button to display a dialog box to input the initial position and average entry price. This dialog box will appear when auto trading is turned on in the chart (see last step).
    • Select Do not show the Assign the Initial Market Position at the Broker radio button to set the initial position here instead of in the dialog box.
      There are three choices:
    • Select Assume the initial market position at the broker FLAT to set the initial position to 0.
    • Select Assume the initial market position at the broker the SAME AS on the CHART to set the initial position to the position that's on the chart.
    • Select Use the actual position at the broker to set the initial position the same as actual postition at the broker.


  1. Choose the broker/gateway from the list box in the Select Broker Plug-in section.
  2. Click Settings.
  3. Input the settings for the appropriate broker/gateway.


There are two ways to turn on auto trading.

  1. Turning on auto trading on the chart
      • SA Mode
        1. Select the Auto Trading Status Switch and select Automate Order Execution.
        2. Read the disclaimer and click Yes.
        3. The button will turn green which means auto trading is on.
      • AA Mode
        1. Select the Auto Trading Status Switch and select Automate Order Execution.
        2. Read the disclaimer and click Yes.
        3. If Show the Assign the Initial Market Position at the Broker dialogue was selected earlier, then a dialog box will appear.
          Enter the initial market position and average entry price. Then select Yes.
        4. The button will turn green which means auto trading is on.
  2. Turning on auto trading from main menu
      • SA Mode
        1. Select Format from the main menu.
        2. Select Automate Order Execution.
        3. Click on the switch and select Automate Order Execution.
        4. Read the disclaimer and click Yes.
        5. The button will turn green which means auto trading is on.
      • AA Mode
        1. Select Format from the main menu.
        2. Select Automate Order Execution.
        3. Click on the switch and select Automate Order Execution.
        4. Read the disclaimer and click Yes.
        5. If Show the Assign the Initial Market Position at the Broker dialog was selected earlier, then the dialog box will appear. Input the initial market position and average entry price. Then select Yes.
        6. The button will turn green which means auto trading is on.


There are two ways to turn off auto trading.

  1. Turning off auto trading from the chart
      1. Select the Auto Trading Status Switch and deselect Automate Order Execution.
      2. If there are orders pending, a dialog box will appear to ask if pending orders should be cancelled. Select Cancel Orders or Do Not Cancel Orders to proceed.
      3. If there are open positions, a dialog box will appear to ask if open positions should be closed. Select Close Positions or Do Not Close Positions to proceed.
      4. The Auto Trading Status Switch will turn gray which means auto trading is turned off.
  2. Turning off auto trading from the main menu
      1. Select Format and deselect Automate Order Execution.
      2. If there are orders pending, a dialog box will appear to ask if pending orders should be cancelled. Select Cancel Orders or Do Not Cancel Orders to proceed.
      3. If there are open positions, a dialog box will appear to ask if open positions should be closed. Select Close Positions or Do Not Close Positions to proceed.
      4. The Auto Trading Status Switch will turn gray which means auto trading is turned off.

If you do not want to see the pending orders dialog box when disabling auto trading select File in the main menu, click Preferences, select the Trading tab and check the Do not show cancel active orders confirmation dialog when disabling auto trading check box.

There are two options available:

  • Cancel active orders sent by the strategy;
  • Do not cancel active orders sent by the strategy.

If you do not want to see the open position dialog box when disabling auto trading select File in the main menu, click Preferences, select the Trading tab and check the Do not show close open position confirmation dialog when disabling auto trading check box.

There are two options available:

  • Close the open position opened by the strategy;
  • Do not close the open position opened by the strategy.
Note: If the workspace (or MultiCharts) was closed while auto trading mode was enabled on one or several charts, a dialogue asking you if you want to enable auto trading on these charts on restart. Click Yes to enable auto trading or No to open charts with auto trading disabled.