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21 Hour

The 21 Hour Auto Trader is a VertexFX client-side script that is useful to trade breakouts by employing STOP orders.

This Auto Trader is very useful during news events when the markets are highly volatile, and the direction of the breakout cannot be determined initially. For example, consider a trader who wants to trade in the direction of a breakout after a news event at 10 am. Once a breakout occurs, the trader wants to place a trade in the direction of that breakout with a specific take-profit target. If the breakout does not occur within a specific time, or after the breakout has occurred but the take-profit is not achieved within a specific time, the trader wishes to delete the pending order, or close the trade. The 21 Hour Auto Trader helps the trader accomplish this task by automatically managing this trade.

At first step, the Auto Trader places a BUY-STOP order at the ChasStart hour (e.g. 10 am) Limit points above the current Ask price, and a SELL-STOP order Limit points below the current Bid price.

The Auto Trader employs OCO (One-Cancels-Other) mechanism for these two orders. If the BUY-STOP order is executed first, then the pending SELL-STOP order is immediately deleted. Likewise, if the SELL-STOP order is executed first, then the pending BUY-STOP order is immediately deleted. Hence, there can be only one open position initiated by the Auto Trader .

If a position is opened and exited at take-profit before ChasStop hours (e.g. 8 pm), then the Auto Trader becomes idle. However, if there are pending orders when the end-time specified by ChasStop hours is reached then these pending orders are deleted and the Auto Trader becomes idle. Similarly, if the position is still open at ChasStop hours, it is closed by the Auto Trader . In other words, the Auto Trader deletes pending orders (if any), or closes open position (if any) at ChasStop hours and transitions to idle mode.
This Auto Trader does not have a stop-loss since it exits positions at ChasStop hours. It is recommended that the trader set a stop-loss manually if desired.

Configurable Inputs

1. Lots –.The lot-size of each trade opened by the 21Hour Auto Trader .

2. ChasStart – The time in hours (24 hour format) when the initial STOP orders are placed by the 21 Hour Auto Trader . For example, if this value is 10, then the Auto Trader places the initial orders at 10 am.

3. ChasStop –.The time in hours (24 hour format) when the Auto Trader closes the open positions and pending orders opened by the Auto Trader . For example, if this value is 22, then the Auto Trader closes the open positions (if any) and pending orders (if any) at 10 pm.

4. Step –.The distance in points from the current Bid and Ask price where the initial SELL-STOP and BUY-STOP orders are placed respectively.

5. TP – The take-profit in points for each trade.

Usage

  • Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
  • Copy it to your company VertexFX Local VTL Files folder i.e. C:\ProgramData\VertexFX Client Terminals\"Company name"\VTL10\Local VTL Scripts
  • Restart your Client Terminal or Right Click on "Local VTL Scripts" Tree Node to find the script.

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18 July 2016
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Established in 2002, Hybrid Solutions provides FOREX Online Trading Platform. Hybrid Solutions has adopted the latest technologies and international standards to develop its Online Trading Platform, VertexFX.

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Disclaimer: Hybrid Solutions is the VertexFX trading platform vendor, provides technology only for the financial institutes and does not have any intervention in any financial role or in the trading cycle. Hybrid Solutions clears its responsibility from any financial institute's behavior. Choose your broker wisely and seek independent advice if necessary.

اخلاء مسؤولية: هايبرد سوليوشنز هي الشركة المزودة لبرنامج (الفيرتكس اف اكس) للتداول الالكتروني ، تزود فقط التكنولوجيا اللازمة للوسطاء ولكنها لا تتدخل بأي شكل مهما كان في عمليات التداول أو بأي دور مالي. هايبرد سوليوشنز تخلي مسؤوليتها بشكل كامل عن تصرفات الوسطاء او كل ما من شأنه أن يسبب الخسارة للمتداول ، إختر وسيطك بتأني واطلب النصيحة من المختصين بالتداول عند الحاجة.

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