Articles for traiders
01/30/2019 06:10:58 pm

VR Watch list and Linker - linking charts in MetaTrader

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VR Watch list and Linker - linking charts in MetaTrader

Lot of manual strategies require analysis of several timeframes before entering a trade: for example daily, 4 hour and hour charts.  If you trade more than one pair, it is simply annoying to change the instrument each time, or tons of charts.

Hello, forex-traders!

Lot of manual strategies require analysis of several timeframes before entering a trade: for example daily, 4 hour and hour charts. If you trade more than one pair, it is simply annoying to change the instrument each time, or tons of charts.

Today we will review the utility advisor VR Watch list and Linker, which makes manual trading easier and more comfortable. VR Watch list and Linker tool fills the workspace with linked windows, each of which contains a customized view of the graphics with indicators and levels after just one click on the selected instrument .

One click will open the “three Elder screens” or any other similar combination of charts for the selected instrument. At the same time, charts — with levels or figures, as well as customized indicators, will be saved and can be completely different for each window, currency pair or contract.

Linking graphs

The advisor completely replaces some Metatrader 4 and 5 functions:

  • Market Overview
  • Workspace Templates
  • One-click trading

trading panel and trade

In addition, VR Watch list and Linker saves user's lists of tool instruments, as well as individual window settings for each instrument, has built-in quick search filters. The only drawback of this Expert Advisor is the long loading stage during the initial installation.

Quircks of installation and first launch of VR Watch list and Linker

The EA is represented by two files (ex4 and ex5) for installation on the fourth and fifth versions of Metatrader, respectively, in both terminals VR Watch functions are as identical as possible. The program is in Russian, but there are English versions out there.

The process of installing the Expert Advisor in Metatrader 4 and 5 is the same, you can read more about it in the universal instruction published on our website earlier. The main thing is to remember that only one file should be sent to the Experts folder: for example, only ex4 file is suitable for Metatrader 4. If the installation is correct, the VR Watch list and Linker is present in the Navigator window (the Expert Advisors folder).

Installation Advisor

Before the Expert Advisor launch:

  • Configure the terminal by allowing auto trade and import DDL libraries in the “Expert Advisors” tab of the settings window, that can be found in the “Tools” top menu

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  • Limit the number of candlesticks on the chart to 1000 using the appropriate tab in the already open "Settings" window
  • Set up the workspace by opening the required number of charts for one instrument, marking each of them at your discretion with a different set of indicators

The last item will allow you to configure the default template on the first time you run the Expert Advisor.

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Note that one of the chart windows will be “occupied” by VR Watch list and Linker itself, so you can not configure it. To select a specific location, double-click the Expert Advisor name in the Navigator table, match the VR Watch window with the selected chart and click OK.

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After successfully attaching the Expert Advisor (emoji in the upper right corner will smile), synchronize the broker's toolinstruments table and quotes history by clicking “Update” and confirming the download.

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Please note: in the example, the list of broker instruments is limited to one currency pair GBPUSD — this significantly reduces the loading and synchronization time, the full table of instruments is loaded for several hours. By expanding the number of symbols in the Metatrader Market Watch, you can add them to VR Watch via Update.

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The VR Watch settings window is available during the first launch or can be opened via the additional menu when right-clicking on the Properties item in the Expert Advisors option.   The operation of the utility program and the management of related charts are determined by the values of functions in the Input Parameters tab.

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The settings are divided into four main blocks:

I. Pre-Filtering Settings

  • Symbol prefix — removes currency pairs by a given prefix, it is relevant for brokers who have implemented trading of the same currency pair with different conditions (spread, specifications, margin) other requirements) in one terminal
  • Exclude instruments forcefully — the specified names of currency pairs and CFD contracts will never be added to the VR Watch list when it is updated
  • The entire list (All) or the list from the terminal window — if the "Terminal" field is set by default, instruments from the Market Watch table or those that are in open charts will be added to the EA, option "All" will add all tickers, but will significantly increase synchronization time at first start

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II. Templates Save Settings

  • Save chart templates — if you disable this feature (“No”), regardless of the tool, all charts will have the default template set at the program launch, the function “Yes” allows loading a separate template for each instrument, if it was previously set by the trader

III. Setting Up Data Update

  • Data update period (250) — parameter determines the frequency of quotes update in milliseconds, the default interval of 1 second (1000) is recommended, the minimum threshold is 250 ms

IV. Default Link Settings

  • Default color and link - determines the order and letter of the link connecting open chart windows to the tool, default is the order A, B, C, color of which is adjusted in the "Сolor scheme” tab

V. Custom Column Settings

The options refer to two columns of numeric values that characterize the current state of a currency pair or CFD contract in seven different variants: Ask and Bid prices, ATR volatility or two self-defined indicators. The trader can leave the field blank by selecting the Net Change parameter.

The order of values is determined by assigning the selected parameter to one of two columns

  • Column 1 — the default value is Ask
  • Column 2 — the default value is Bid
  • ATR period — default is 5

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VI. Trading panel settings

The Advisor's has options for placing trade orders in one click, adjustable via the following settings:

  • Take profit (points) — default is 500
  • Stop Loss (points) — default is 500
  • Lots — minimum value of 0.01 is used
  • Slippage — the threshold of changes in quotes in points, from the market price of the deal, if it's met - the order is not will not be opened
  • Magic Number — a unique number of the Expert Advisor so that sent orders do not overlap with other copies of VR Watch running simultaneously in the same terminal

When using the functionality of trading orders of several Expert Advisors, make sure to change the settings of “magic numbers” in each of them to different numbers.

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VII. Color scheme settings

VR Watch developers have allowed the user to set buttons and field colors of almost any part of the Advisor interface, implemented in 28 rows of variable values.

Functionality and experience of using the VR Watch list and Linker auxiliary indicator

As already shown above, the primary pattern of displaying a currency pair or CFD contract on multiple charts is selected at the first stage of launch procedure. If a trader wants to open and leave the additional window unchanged, he will need to make it inactive and “press out” all three link keys in the lower right corner.

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Links A, B, and C define the modification or binding modes of each specific window. By pressing or deactivating these letters on each chart, the trader can achieve a certain sequence of window changes when placing the link symbol on the toolbar.

For example, in the picture below, setting the default link B stops changing the third of the three template charts.

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The table contains the entire list of available or added instruments, promptly providing data about the spread size, the default trading loon, the cost of the item, the trading the shoulder and the size of the required margin for each of them.

The Add symbol function at the bottom allows you to edit this list by searching for tools by name. When writing a ticker, a trader can ignore broker prefixes, the system will request permission to add such instruments if they were previously synchronized with the Advisor.

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The Filter tab allows you to make a more detailed search for currency pairs and CFD contracts, where you can build a list:

  • By one ticker (for example, all pairs with AUD) or find a specific instrument
  • Margin requirements of the broker (very convenient for finding stocks, indices and other futures)
  • The tick price in $ (depends on the lot size specified in the Advisor settings)
  • Spread, volume and price

Below the trader can narrow down the search criteria to a specific section of the instruments. The system is ideal for lovers of exotic pairs or a variety of CFDs on stocks.

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The "List" tab allows you to save the results of a custom search by denoting the selection with any name (Latin) and save the setting by pressing “Save”. Previously saved previous files are automatically displayed in the tab box available for download, formatting, or deletion.

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Forex trading using VR Watch list and Linker Expert Advisor

On the List tab, select the instrument on which trades will be executed and click the Trade option. To start editing the price and entry conditions, select the order type by clicking the corresponding key:

  • When trading at market price — Buy/Sell
  • Pending orders — Buy/Sell stop, Buy/Sell limit

After clicking the price and money management conditions field is activated: the stop-loss and profit limit level, which is filled by default, the numbers are taken from the Advisor settings.

The program uses a system of “hints”: the point value, the level of profit and loss denominated in US dollars, as well as data on the number of maximum and minimum possible lots and price step. Taken from the broker's specification.

The created order is sent to the market by pressing “Send”, the disadvantage of the program is that it does not track pending and open orders, for this the trader should use the chart and terminal, located at the bottom of the Metatrader window.

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Linking charts in VR Watch list and Linker Expert Advisor

Before installing the Advisor, a trader can open the maximum number of chart windows, preconfiguring timeframes and indicators.   VR Watch automatically links any instrument added after the update, but charts can be untied by clicking on the A, B, and C buttons in the bottom right corner.

These letters define the number of modes in which a different number of windows can be changed simultaneously, defined by “pressed” or inactive A, B, and C.

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In addition to the three binding modes, each chart group can be configured for a separate currency pair or CFD contract. To do this, just hover the cursor over its name, then you can delete or add levels, indicators or change timeframes shown on the charts.

Changes will automatically be assigned to the specified instrument, in other cases the “standard” template will still be displayed. In theory, a trader can set up a group of charts for each individual instrument. Just remember to save the selected lists on the “List” tab.

Conclusion

One of the ways to minimize losses is diversification — the use of a large number of instruments in trade. The most reliable input signal is considered to be the readings of “higher” timeframes, and the accuracy of the deal depends on the readings of the younger "lower" ones — from one to 15 minutes.

To combine such strategies in the Metatrader platform, especially using many different instruments is an unrealistic task, the trader would have to reopen charts, change timeframes, apply the same indicator templates again and again. At the same time, you can forget about using graphical analysis at small time intervals - switching to higher timeframes will make charts unreadable.

In this case, the VR Watch list and Linker Expert Advisor is indispensable, the program is ideal for multistrategies and “streaming” analytics, which is also useful when trading a single instrument to see “overall picture” of the day, or week, as well as important extremes and levels on large timeframes.

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