There are 2 Templates for live trading XXXX STD Candles which gives you normal candles that show if the close is higher or lower than the open. The other is XXXX Trend Candles which uses Xard's candles that change colour with the trend.
The Whip It VSL EA allows quick and easy trade opening and management. You need to enable live trading in the MT4 options menu and also in the EA common properties. If correct you will see the smiley face in the top right corner.
The settings should be fine as they are to start off. Usable % of Total Margin is how much of your capital can be used before you start getting Margin Calls from your Broker. The percentage of margin per trade is how much of your usable margin is used for each trade you place. The default of 10% will give you 10 trades to use all available margin, 25% and will be 4 trades total. The Magic number is there so the EA will only work with its own trades, if set to 0 it will then be able to close any trade on the platform if asked to.
On the right side of the chart, you will see 10.0%, this is the percentage of margin that will be used for each trade as per above. You can edit the number or click the U or D buttons to increase or decrease if you wish.
QBuy & QSell Will instantly open a buy or sell at market, then on the chart will be an Aqua line for Take Profit and a Voilet line for the Stop Loss. These are placed using the SL & TP ATR Multiplier Setting in the EA, once on the chart you can drag them to where you want. These are virtual TP and SL lines and the EA needs to running on the Symbol chart for them to work. So you need to leave the EA running on the chart where you opened the trade. In addition to the Virtual stops the EA sends the normal SL & TP to the broker but 1 X ATR away from the VSL this is so that you have a backup in case of internet connection loss etc.
Once 1 trade is open any additional trades will have TP & SL placed in the same position as the VSL lines. So if you have multiple positions open on the one symbol you can drag the VSL line and all positions will have the same SL & TP.
The Close Button will close all trades on the symbol,
Close All will close every trade that is open on your MT4 platform.
SBuy & SSell place OnStop or Limit orders, Click the button once and a yellow line will appear on the chart move it to where you would like the trade to open when price reaches that level. Click it again and a OnStop or Limit order will automatically be placed depending on if price is above or below the yellow line.
TSL Button will place a trailing stop behind the 36EMA Signal line, ATRSL does the same but uses the ATR_SL ATR Multiplier to set how many times ATR the stop is trailed behind the High if you long or Low if you are short. You can manually move the trailing stop lines, if it is in the direction of your trade the SL will stay there until the automatic setting moves past it and it will be moved by the EA accordingly.
TMA TP will follow the TMA line with the TP, this can be useful in slower or range bound markets, if price is trending it is better to manually set the TP based on the ADR etc.
On the left of the chart, you can switch timeframe, this will not affect the trailing stops etc as they are hard-wired to use 5-minute settings only.
On the lower right side there is 2 boxes with values, these can be turned off in the settings.
The are
B = Account Balance
E = Account Equity
F = Free Margin
Pos = how many positions (Trades) are open for the Symbol
BE is the count of trades for the break even line, I was using this while testing it will be removed in the next update
T is the broker time it will update as each tick comes through, so in quite times it may take a number of seconds to update.
NB is time of the last new bar, it will be removed as per above
SL is the time the SL was last moved, for TSL it will only move when a new bar opens, for the ATR SL it will change when new highs or lows occur. Although that depends on the ATR, if the ATR is increasing the SL may not be moved if the ATR is larger than the current SL distance.
