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Trade Bar

From MultiCharts

Trade Bar allows navigating between the brokers and trading with a few clicks. It contains a series of tabs that shows all the brokers for which you have created broker profiles, this allows you to click on the appropriate broker tab and execute trades to that broker.

Trade Bar also shows you which broker connections are currently active by showing a green light next to broker name and which ones are offline by showing a red light. It is a very convenient tool for placing orders without plotting charts or using DOM windows.

The main advantage is that you can see all of the currently connected brokers and place orders through several brokers at the same time. For example, you may have one broker for Forex and another one for futures, and place orders on both without logging in or out.

How to Show/Hide Trade Bar

Trade Bar can be shown or hidden. Show/hideTrade Bar by one of the following methods:

  • Select View In the main menu and enable/disable Show Trade Bar feature; or:
  • Press Ctrl+Shift+T on the keyboard.

Alternatively you can click X on the Trade Bar to hide it.

Connecting / Disconnecting Broker Profile

To connect /disconnect the broker profile that you want to trade with, right-click the Broker Profile tab to see the shortcut menu and then click Connect / Disconnect.

Note: Broker Connection indicator on the Trade Bar shows Broker Profile connection status which is not the same as Data Feed connection status.

Selecting Account

Select the account number in the Account Selector box

Selecting Instrument

To select the instrument you want to trade with:

  • Type in the symbol name into the Instrument Selector field and press Enter; or:
  • Click on the Lookup button to select the necessary symbol from your database.
Note: To be able to trade the instrument from Trade Bar, you should add it to the QuoteManager (see Operating Symbol List).

Setting Order Quantity

Set order quantity by one of the following methods:

  • Type in order quantity in Order Quantity box on Trade Bar; or:
  • Click the Trading Calculator button .

Calculator automatically increments the current trade size setting by one, e.g. if you had 1 in order quantity field, calculator would automatically make it 2.

You can adjust the number of contracts by pressing +1, +2, +5 etc. buttons. Zero button resets the number of contracts to zero.

Buttons on the right side of the calculator contain 6 last values.

You may set this number of contracts by pressing those buttons. To apply the modifications click OK, to cancel the modifications click Cancel.

Price Level Selector

Price Level Selector allows you to set the price of your order with just a few clicks. It also shows Bid and Ask prices without opening charts or DOM windows.

By default Price Level Selector shows an average price of bid and ask.

Click on the arrow at the right of Price Level Selector to see the range of prices. Three colored prices are: pink price at the top is ask, blue price at the bottom is bid, green price in the middle is an average price of bid and ask.

Scroll the list of prices up or down, using up and down arrows. To set the price for Limit, Stop or Stop-Limit order just click the price that you need.

Setting Time in Force

To set time in force of the order, use the Time in Force box on the Trade Bar.

  • DAY – Good for one day
  • GTC – Good-Til-Cancelled
  • GTD – Good-Til-Date
  • IOC – Immediate or Cancel Order

One-click order placing

Market, stop, limit and stop limit orders can be sent directly from Trade Bar. Choose the order type in the Order Type box

When the order type is chosen, place an order by pressing the Buy Mkt / LMT / STP / STL or the Sell Mkt / LMT / STP / STL buttons on the Trade Bar.

Order Size is defined by Qty field, Time In Force is defined by the value set in the Time In Force field (see Setting Order Quantity and Setting Time In Force).

If the market type of order is selected then the market price is chosen by default.

If the limit/stop/stop limit type of order is selected then limit/ stop/ stop limit price box comes up where you can set stop and limit prices.

Select the price by one of the following methods:

  • Enter the price manually in the Limit/Stop/Stop Limit Price box; or:
  • Choose the price using the Price selector
Note: if you do not see the order on the chart/in DOM window and/or do not see any change in your current position (in case of a market order), please check the Logs tab of Order and Order_and_Position_Tracker for error messages (e.g. Order Breaks Limits).