ChartTrader is a professional trading tool that should be in the arsenal of any trader. It is designed for the MetaTrader 4 platform.
The ChartTrader utility offers several options for quickly and conveniently placing orders on the Forex market. The user interface is located in the chart window, so when placing orders, you do not have to go to separate windows. The program allows you to set pending and market orders. The utility has a built-in risk management system, so for each transaction, you can set the risk as a percentage or in a fixed amount in a currency, you do not have to perform additional calculations, this will save you a lot of time.
The ChartTrader utility is developed by traders. It was developed to speed up and simplify the process of placing orders. Other useful features are also available in the program, such as the ability to set the automatic movement of the stop level to the breakeven value after a certain number of pips, as well as the use of the trailing stop function.
In the current version of the ChartTrader utility, there is only one input parameter:
- Extra Pips – the number of pips added to the breakeven.
The Extra Pips parameter is used by the breakeven function. The idea is that when a trade closes at the opening price, the trade does not make a profit or loss. However, some brokers charge a commission per trade, so we added this option to take this into account. By default, the parameter is 2 pips, so when the breakeven function moves the stop order to the opening price, 2 pips will be added to it to compensate for the commission.
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We recommend that you test the ChartTrader utility on a demo account to get acquainted with the features.
We hope you enjoy our product.