» Instrument Stop_Overturn_Buy
Order instrument Stop_Overturn_Buy (21) is used to open a Sell order when a Buy order is closed by StopLoss.
Permissions for Placing the Instrument
The Instrument Stop_Overturn_Buy can be placed on:
- StopLoss of a Buy market order.
Limitations on Placing the Instrument
The Instrument Stop_Overturn_Buy is going to be placed (down):
When the Instrument Stop_Overturn_Buy is placed no other instruments may be deleted.
If Instrument Stop_Overturn_Buy has already been placed (across):
Placing any other Instruments does not result in deleting the Instrument Stop_Overturn_Buy.
Requirements for Placing the Instrument
No other instruments are required to place the Stop_Overturn_Buy instrument.
Placing the Instrument
To place the Stop_Overturn_Buy instrument, click the instrument icon, drag it on an order line of your choice and release the mouse button. If the order line is selected according to permission rules, the icon will be displayed close to this line at the bar, where the user released the mouse button. If the instrument is placed successfully, the notification area will display a confirmation message and you will also hear a corresponding sound alert. If the Instrument has been placed on the order line successfully, the color of the instrument icon will match the color of the order line.
Placing Instrument Stop_Overturn_Buy on a the StopLoss of a Buy order. The SL, TP and Ds parameters of the instrument are displayed in AutoGraf 4 sub-window.
When trying to place an instrument on an invalid order line (i.e. the choice of line does not comply with permission rules), placing the instrument will fail. In this case the notification area will display a message stating that the user has made an error. You will also hear a corresponding sound alert.
The Instrument can be used when one trend is about to end and the direction of the price movement is expected to reverse.
Instrument Stop_Overturn_Buy is characterized by the following parameters:
The indexes of the instrument parameters correspond to the indexes of these parameters in array Instrument[or][ol][j], where:
or - the current index of the order in array Order;
ol - the order line number (1 - OpenPrice, 2 - StopLoss, 3 - TakeProfit);
21 - the number of instrument Stop_Overturn_Buy;
j - the index of the Stop_Overturn_Buy parameter.
- the fact of placing the instrument; this parameter can be modified in the manual mode by placing and deleting the instrument.
- the index of the bar where the instrument is placed; this parameter can be modified in the manual mode by moving the instrument icon inside the price chart (horizontally).
- StopLoss of a market order, that is being placed (in pips).
- TakeProfit of a market order, that is being placed (in pips).
When the instrument is placed, SL and ТР parameters take on values of SL and ТР settings, displayed in AutoGraf 4 sub-window. The parameters may be adjusted at any moment by choosing a new value from the scale. To bring up the scale, click the current parameter value that is displayed to the right (above or below) of the instrument icon and move it moderately sideways. The value chosen by the user from the scale is accepted as the new order parameter.
Please note, that for Sell orders, the SL parameter is displayed above and TP parameter is displayed below the instrument icon. And the color of the SL and TP matches the color of these parameters in AutoGraf 4 sub-window.
- the number of lots for the order that is being placed. It takes on the value of order lot size (please note, that the order is closed completely; the parameter defines the lot size of the new order that is going to be placed).
The parameter can be arbitrarily specified by the user, as long as it’s divisible by the minimum lot modification step. The minimum parameter value is the minimum allowable lot number according to the terms of your broker. The maximum value is an order lot size.
Parameter value also can be modified by choosing a new value from the scale. To bring up the scale, click the current parameter value that is displayed to the left of the instrument icon and move it minimally in a sideways direction. The value chosen by the user from the scale is accepted as the new order parameter.
AutoGraf 4 doesn’t analyze the parameter value. Therefore, you may specify the lot number that is not covered by your free margin. Meaning that the trader may count on the profits, that he plans to make before the Instrument Stop_Overturn_Buy is executed. You cannot change the execution price of the Instrument Turn_Around_Buy placed on the StopLoss of a market Buy order.
The Instrument is executed (a Sell order is opened) at the current Bid price.
To allow Stop_Overturn_Buy Instrument execution in AutoGraf 4 application, enable the semi-automatic or automatic mode (drag the icon AG or AT upwards).
The Instrument is executed when the Buy order on, which the Instrument Stop_Overturn_Buy has been placed, is closed at Stop Loss according to the market conditions (ie the current market price Bid reaches the StopLoss price of the Buy order). When the Instrument Stop_Overturn_Buy is executed, a Sell order is opened with the parameters indicated in the Instrument Stop_Overturn_Buy settings.
If the manual mode is enabled when the conditions to execute Instrument Stop_Overturn_Buy is are met, its execution fails.
The Instrument Stop_Overturn_Buy placed on the StopLoss of a Buy order is executed a Buy order has been closed.
1. The Buy order is closed on the server side when the Bid price reaches the StopLoss.
2. A trading order to open a new Sell order is sent to the server according to Instrument parameters. The order is opened at the current Bid price.
When generating a trading order to execute the Instrument Stop_Overturn_Buy, AutoGraf 4 takes into consideration all the requirements and limitations for making trading.
Deleting the Instrument
All instruments in AutoGraf 4 are executed while they are placed and are present on the chart. To stop the execution of an instrument - delete it from the chart. The instrument Stop_Overturn_Buy can be deleted manually by the user or automatically (by the system).
To delete the instrument Stop_Overturn_Buy manually, you need to click the instrument icon and press the Delete button. Such control action is always executed by AutoGraf 4 application without failure (as opposed to trading orders that are executed on the server side and may fail). When deleting the instrument manually, make sure that other instruments or order lines are not selected. Deleting other objects together with the instrument icon may (depending on what kind of objects are selected) result in deleting other instruments or generating unplanned trading orders (order deleting and modification).
The Instrument Stop_Overturn_Buy is deleted automatically when a Buy order is closed and the StopLoss price is set to zero (StopLoss Buy order line is deleted).
The Instrument Stop_Overturn_Buy is automatically deleted after its execution.
Placing and deleting Stop_Overturn_Buy instrument automatically is illustrated in the following example: 14.