DonForex ScalperChart for MT4

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1 DonForex ScalperChart for MT4 DonForex website 'A different way of trading on MetaTrader4' What is DonForex ScalperChart (formerly named as GetRichArt)? A unique and innovative expert advisor for MetaTrader4 that works with 10 different chart types (time based even seconds!, height based and tick based as well) and provides its own built in tools in order to facilitate trading, especially manual scalping and other quick trade technics. Since MT4 has no time frames which are lower than 1 minute, thus ScalperChart creates its own non MT4 candles. As these candles are special candles, so traditional MT4 indicators can not be used on them. This is the reason that ScalperChart has its own built in indicators and tools. Since the goal is not to be a complete chart in chart, but a scalping EA, thus ScalperChart is equipped with only the most important tools. These tools are indicators and one click trade functions. What time frames can be set on ScalperChart? Time frame can be set between 1 and 60 seconds. Feel the market pulse! What kind of chart types are in the ScalperChart? Normal bar, Range bar, Renko bar (3 different types within it), Point Original bar, Tickbar and the Heiken Ashi version of all of these. Can it be used on all instruments of MT4? Yes, of course (forex pairs, CFDs, other instruments...) How many charts that can be run at once? As many as you want (within your computer's capacity). Is it an offline chart? No. These candles are generated on the fly from the fresh incoming ticks which come after you started the program. No need for M1 feed chart. Also, not just a chart, but a complete trading tool! OK, I'm curious! Can I see trade examples? Yes, great examples and technics can be seen on this popular ForexFactory topic (thanks Billy!). Check this: ScalperChart trade examples 02/18/2016 1

2 User Manual User Manual for DonForex ScalperChart v1.21 ScalperChart's layout: 02/18/2016 2

3 Legend: 1: Candle type selector buttons. Normal bars Range bars Renko bars Point Original bars Tick bars +Heiken Ashi bars for all of the previous five chart types 2: Bar settings display (either time frame or bar's height or ticks) 3: Local time display 4: Toolbar (indicators, tools). Details: Cross Crosshair button (displays price/time, and measures differencies) Activate the function by clicking on the button First click on the chart designates the start point Drag it to measure Second click deactivates it VLine Vertical line button Activate the function by clicking on the button and click on the chart HLine Horizontal line button Activate the function by clicking on the button and click on the chart Line Line button (trend line without ray) Activate the function by clicking on the button and draw on the chart TLine Trend line button (trend line with ray) Activate the function by clicking on the button and draw on the chart Fibo Fibonacci retracement indicator button Activate the function by clicking on the button and draw on the chart PFork Andrews' pitchfork indicator button Activate the function by clicking on the button and draw on the chart (1, 2 and 3) Fractal Special fractal indicator button Sup/Res Automated support/resistance levels indicator button MMath Murrey Math levels indicator button Donch Donchian channel indicator button BBands Bollinger bands indicator button MAvg Moving Average indicator buttons (4 different settings can be used) 02/18/2016 3

4 MACD Moving Average Convergence Divergence indicator button RSI Relative Strength Index indicator button CCI Commodity Channel Index indicator button Clear Deletes all the drawn objects from the chart SShot Screenshot maker button (pictures are saved in MQL4/Files folder) 5: Chart unfold function (maximal vertical extension) 6: Chart flatten function (minimal vertical extension) 7: Brokerage's server time display 8: Chart shifting button 9: Go to current candle button (jumps to the youngest bar) 10: Candle sizer function (values are between 1 10) 11: Auto close ON/OFF button. Closes all the trades when profit/loss target (see Inputs) has been reached 12: Del Mode Object deleting mode ON/OFF ON: in this mode one can delete objects one by one. Just click on its circle. 13: Version number and copyright display 14: Info Panel (see details below) 15: Trade Panel (see details below) 16: OHLC and ADR (Average Daily Range) display 17: Flatten function (in the area where prices are displayed) First click activates the function, second click/leaving this zone deactivates it 18: Horizontal scrolling functions (in the area where the candles are displayed) First click activates the function, second click/leaving this zone deactivates it 19: Indicator subwindow 20: Subwindow sizer function (values are between 1 5) Settings are modifiable on expert's Inputs tab (press F7). 02/18/2016 4

5 Info Panel The content of the Info Panel: Built in trend meters from M1 to D1 time frames Account balance Account equity Lot sizes (buy lots, sell lots and summary lots) Number of open orders (buys, sells and summary) Profits/Losses (buys and sells) Cumulative profit/loss in currency and in pips (averaged) Info Panel can be opened and closed by clicking on its header Info Panel can be transposed (double click and drag) 02/18/2016 5

6 Trade Panel The content of the Trade Panel: Current spread display Trade function buttons: BUY button SELL button REPLACE UP! button (it is a special function that only works if there is 1 open trade. E.g.: if you have a buy order, this function closes it and immediately opens a sell order, and vice versa. You can not use it if there are more open orders.) Pending order buttons (buy limit, sell limit, buy stop, sell stop). Activate the proper button by clicking on it, then click on the chart to where you want your order be placed. CLOSE ALL button (closes all of your open orders immediately with the given instrument) CLOSE BUYS (closes only the buy orders with the given instrument) CLOSE SELLS (closes only the sell orders with the given instrument) CLOSE PROFITS (closes only the winner orders with the given instrument) CLOSE LOSSES (closes only the loser orders with the given instrument) DEL PENDINGS (delete all of the pending orders with the given instrument) Trade Panel can be opened and closed by clicking on its header 02/18/2016 6

7 Pending order, take profit and stop loss modifying In the ScalperChart expert there is possibility to modify the open price of pending orders, price of take profit and/or stop loss directly on the chart. One can do it simply by mouse clicks. (For TP and/or SL modification: in order for this function to work, one has to set Show_Open_Orders_On_Chart and Show_TP_SL_Lines_On_Chart properties to true.) An illustrative example for take profit modifying: the images above show a SELL order and its take profit level (around ). Left side picture: there is an empty blue rectangle. Click on this rectangle to activate the modify function. Right side picture: rectangle is filled, it means that function is activated and you can modify the take profit value. Click on the chart to where you want your new take profit be placed. Of course, the same method works for pending orders and for stop loss modification as well. Pending orders can be deleted on the chart: just click on the rectangle with x on the right side of the chart. If something wrong happened, check the content of Experts tab in the Terminal window. 02/18/2016 7

8 The inputs of the expert 02/18/2016 8

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11 Explanations: Renko mode: 3 different types are available Without wicks With wicks Mean/Median/Better Lot sizing mode: Manual (uses Manual lot size) Auto (calculates with Balance Based Risk Percent and Stop Loss In Pips ) An example for an EURUSD trade: >>> Account Balance= USD >>> Balance Based Risk Percent=3.0 (that means 3% of Balance, so 5000*0.03=150 USD) >>> Stop Loss In Pips=10.0 Lot size result=1.5 (because 1 pip move means 10 USD/lots, so 1.5x10.0x10=150) Profit and loss target: must be a plus number (e.g.: if your loss target is 35 USD, you have to write 35). Break even: if you are in profit (not in loss, this is important!) and want to avoid that it may turn to losses, set Loss_Target to 0.0 and turn ON the Auto Close button. 02/18/

12 Background's color scheme: one can select between a darker and a lighter background scheme Show profit level: shows the price level on the chart where your profit/loss is in zero Time display mode: one can select between only seconds and minutes/seconds Applied price field: one can select between Bid, Ask and Middle price Pip_Settings_Mode: two options are available (Mode_Auto and Mode_Manual). Default status is Auto mode, it works well mainly on forex pairs. If you use other instruments (e.g.: CFDs), it may require switching to Manual mode, because there is no universal formula that works well on all the instrument of different brokers (they may use different settings for the same instrument). So, if you experience that there is something wrong with pip displaying, just switch to Manual mode and modify Pip_Factor and/or Pip_Digit (see below). Pip_Factor: used when converting points to pips. Example of use: if you see that spread is 15, but you know that proper value has to be 1.5 (that is, ten fold difference), then set it to PipFactor_10. Pip_Digit: used for price (1 pip) grid calculation. Example of use: let's assume that EURUSD price is In this case the 4. decimal place (number 9) indicates the pips and the 5. decimal place (number 4) indicates the points. Since we need the pips, which is in the 4. decimal place, select PipDigit_4. An other example with a JPY pair: the price of GBPJPY is In this case the pips are in the 2. decimal place (number 6), so we select PipDigit_2. Ask confirmation: asks your confirmation before trade actions Lazy mode: just set it to true if your CPU is weak (if it is set to true, screen refreshing is slower. Although the expert reacts to all the incoming tick and makes its calculations properly, but provides less smooth user experince as regards chart events, e.g.: when drawing trend lines, etc..) 02/18/