Preferences

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To access Preferences window, please go to File menu and then select Preferences... The window can also be opened by using ALT+F, +F keyboard shortcut sequence.

Workspaces

Workspaces preferences settings determine which workspaces, if any, will be opened on application startup, whether changes to workspaces will be saved on application exit, and if a confirmation prompt will appear when Chart/Scanner Windows are closed.

To set workspace preferences:

  1. To open Workspaces on startup, select the Open Workspaces on Start checkbox; clear the checkbox to not open any Workspaces on startup.
  2. To show the Workspaces tab on software startup, select the Show the dialog checkbox; clear the checkbox to not display the dialog box.
  3. Specify the workspaces you would like to open:
    • Open last active workspace from previous session
    • Open all workspaces from previous session
    • Open prebuilt workspace
  4. To show Save Workspace dialog box on exit, clear the Do not show "Save Workspace" dialog on Exit checkbox; select the checkbox to not display the dialog box. If the checkbox is selected, there 2 options:
    • Select Save workspaces if you want them to be saved automatically without your confirmation
    • Select Do not save workspaces if you want them not to be saved automatically without your confirmation
  5. Windows Deleting. To prompt for a confirmation when a Chart/Scanner Window is closed (deleted), clear the Do not prompt for confirmation when I want to close a window checkbox; check the box to close all windows without confirmation.
  6. Wizard Options. To open Wizard on software startup, select the Run Wizard on Startup checkbox; clear the checkbox to not launch it on startup.
  7. Saving Data. Select Store Optimization Report to save report with a workspace (file size will be increased); clear it not to save report with a workspace.

Data Server Mode

Data Server Mode settings affect the whole software (MultiCharts, Portfolio Trader and QuoteManager). This page determines whether the software has access to real-time data from a data provider server or it is limited to use only the data that is already stored in the database.

  1. Select Online: load the locally stored data and connect to a real-time data feed to switch software to online mode and get access to data from data vendor servers.
  2. Select Download missing historical data to access historical data from a data provider server or it is limited to use only the data that is already stored in the database; clear the checkbox to work only with real-time data and locally stored data (no historical backfill from data vendor).
  3. Select Offline: Use only the locally stored data to work only with historical data that already saved in the database.
  4. To show the Data Server Mode tab on software startup, select the Show Data Server Mode dialog box on startup checkbox; clear the checkbox not to display the dialog box.
Note: In order to switch between the modes or turn on/off "Download missing historical data" box, all workspaces should be closed in all opened instances of MultiCharts, Portfolio Trader and QuoteManager should be closed, no Time and Sales, Service Scanner or DOM window should be activated.

To learn how this page affects data collected in MultiCharts, please read this article.

Charting

Charting settings affect the performance and usability of studies/drawings applied to your charts.

  1. Select Improve visual appearance of drawing tools (no blurriness, but higher CPU usage) to get a better visual appearance but use more resources; clear it to use less resources and get better performance.
  2. Clear Do not require confirmation when removing a study from a chart to prompt for a confirmation when a study is deleted from a chart; select the box to delete signals and indicators without confirmation.
  3. Select Enable indicator status switch in a status line to enable functionality of switching an indicator on and off in the Status Line.
  4. Clear Enable data source merging option (allows to merge historical and real-time data from DIFFERENT data sources) if you use the same data source for historical and real-time data. Merging should be used only in case you are getting historical and real-time data from different data providers (for example, historical data from IQFeed, real-time data from Interactive Brokers). If you select this box then Merging Data Sources into a single Chart option in the Chart settings will be available.

Trading

Trading settings affect the functionality and usability of manual and auto trading.

IMPORTANT INFORMATION: Any changed configuration in Preferences on Trading tab will come into effect and work correctly only after restart of MultiCharts.
  1. Select Sound Alerts to enable alerting when a position is opened/closed, an order is filled, cancelled, rejected; clear the checkbox to disable alerting. Affects both auto trading and manual trading.
  2. Select Show order confirmation dialog when placing/cancelling orders using keyboard shortcut to prompt for a confirmation when an order is placed/cancelled using keyboard shortcuts; clear the box to avoid confirmation.
  3. Select the source of the average entry price for manual exit strategies in Exit Strategies Average Open Position Price:
    • received directly from broker;
    • calculated based on order(s) execution price.
  4. Clear Do not show cancel active orders confirmation dialog when disabling auto trading to see the dialog window asking if the pending strategy orders should be cancelled when automated trading is turned off; check the box and select one of the following options to avoid the dialog:
    • Cancel active orders sent by the strategy,
    • Do not cancel active orders sent by the strategy.
  5. Clear Do not show close open position confirmation dialog when disabling auto trading to see the dialog window asking if the opened by strategy position should be closed when automated trading is turned off; check the box and select one of the following options to avoid the dialog:
  6. Select one of the available currencies to see open profit and loss values on charts and profit and loss values in Order and Position Tracker window in Preferred Currency.

Manual Exit Strategies Modes

Originally MultiCharts used to work in “All to Positions” mode only, then the new 2 modes were added due to customers’ requests.

First to Position, Then to Orders

This is combination of the 2 modes described below. The first exit strategy order works according to “All to Positions” mode logic, all other exit orders work according to “All to Orders” mode logic.

All to Positions

Whenever an exit strategy is used (whether it is an auto-attached exit strategy or it was manually dragged and dropped it onto an open position on the chart), the number of contracts of the exit strategy always depends on number of contracts of current open position and the exit strategy can be cancelled or vice versa, not placed at all, if an open position is closed or there is possibility of overfill (it can be cancelled manually).

Example:
  1. All to Positions mode is used. Stop Loss exit strategy is configured to be auto attached.
  2. You click Buy Market 10 contracts.
  3. Long market position for 10 contracts is opened and 10 contracts stop loss is placed according to its settings. This stop order can be filled, modified or cancelled according to modified or filled number of open contracts or it can be cancelled manually.
  4. It is possible to apply a different exit order to your current open position now. Let’s say, you decide to drag and drop a preset Profit Target onto your open market position. If you do this, you will place a 10 contracts profit target order according to its settings.
  5. The key difference of this mode is that if you manually close 1 long contract out of 10 opened at the moment, both the stop loss and the profit target orders will be modified to reduce their quantities down to 9, because in this mode they are to be dynamically adjusted according to current number of open contracts.
  6. Similar to the described case: if you enter with an order + auto attached stop loss and then you place another order in opposite direction with attached profit target, the position will be closed and both stop loss order and profit target orders will be cancelled, because they are bound to open position in this mode.

All to Orders

Whenever an exit strategy is used (whether it is an auto-attached exit strategy or it was manually dragged and dropped it onto an open position on the chart), the number of contracts of the exit strategy is always fixed and the exit strategy is not cancelled under any conditions, it can be only filled (it can be cancelled manually).

Example:
  1. All to Orders mode is used. Stop Loss exit strategy is configured to be auto attached.
  2. You click Buy Market 10 contracts.
  3. Long market position for 10 contracts is opened and 10 contracts stop loss is placed according to its settings. This stop order can be either filled or you can cancel it yourself, it will not be cancelled or modified any other way because it was bound to your 10 contract buy entry order.
  4. It is possible to apply a different exit order to your current open position now. Let’s say, you decide to drag and drop a preset Profit Target onto your open market position. If you do this, you will place a 10 contracts profit target order according to its settings.
  5. The key difference of this mode is that if you manually close 1 long contract out of 10 opened at the moment, both the stop loss and the profit target orders will remain with quantities = 10, because in this mode they are not to be dynamically adjusted according to number of currently open contracts.

Similar to this case if you enter with an order + auto attached stop loss and then you place another order in opposite direction with attached profit target, the position will be closed, but both stop loss order and profit target orders will stay active, because they are not bound to open position in this mode.

Directories

Directories tab determines the location of MultiCharts Database, Cache files, Studies, Logs and Order and Position Tracker data. It is possible change the directories and move all this to a different location.

Scanner

In the Scanner tab it is possible to select the way the instruments/rows/groups are inserted into the Scanner. The available options are Above Active Cells and Below Active Cells.

Currency Conversion

Currency Conversion functionality is used for converting price values when Base/Preferred Currency is different from the symbol currency set in QuoteManager. Since MultiCharts 10 Release 3 an alternative currency conversion server can be selected.

The Currency Conversion settings are accessible from File -> Preferences -> Currency Conversion tab:

  • Set Currency request timeout parameter to specify the time value for accessing the Currency Conversion Server. Select the value between 30 and 120 seconds. The default value is 30.
  • Enable Allow calculation if Currency Conversion data is incomplete checkbox to retain auto-trading and calculate the signals with the previously received currency conversion data, in case Currency Conversion server cannot be accessed at that moment.
  • Select the Data source that will be used for currency conversion from the drop-down list. Limited number of data feeds can be used efficiently for currency conversion (Interactive Brokers, LMAX, MCFX), as they provide continuous Daily Bid Forex historical data.

To use alternative currency conversion sources: Interactive Brokers, LMAX or MCFX, it’s required to have a subscription to the needed currency pairs with the selected data vendor. If no alternative data feed is used, the Default currency conversion server can be chosen. It provides data for currency conversion since 2002.

NOTE: MultiCharts needs to be restarted completely in order to apply any changes made for the Currency Conversion Server.

Possible Issues

The message “Cannot access Currency Conversion server. Calculation will be stopped.” is displayed in case the Currency Conversion Server cannot be accessed within the specified timeout. This message indicates that the signal calculation will be stopped as there is no data for conversion. Therefore, the signal will be turned off and auto-trading will be disabled. To avoid this, check the box Allow calculation if Currency Conversion data is incomplete.