CodeForTraders

...writing great code so you don't have to

TL Limit Entry for MC

Package: DIDA's Kiwi Trendline Limit Entry for MultiCharts

Have you ever wished you could just place a line on the chart and have the platform buy or sell at that level without further ado?

Even better, how about a smart program that draws buy/sell lines for you, let's you drag them around and activate/deactivate them at will?

CodeForTraders is pleased to offer DIDA's Kiwi Trendline Limit Entry Package for MultiCharts.

What It Is

The Kiwi Trendline Limit Entry Package is a signal and a set of functions that will place Buy and SellShort trendlines on the chart for you and subsequently let you manage the placement and activation of these trendlines for actual trading.

In a phrase:    Chart Trading !

What It Does

The Kiwi Trendline Limit Entry Package allows you to make a manual entry into the MC automated trading environment (similar to MEA, but different).

What we mean by "manual entry" is that you do not have to pre-compute your entry logic or levels ahead of time.  Instead, you simply place the line(s) on the chart by eye at whatever levels you wish to enter with a limit order.

Since your entry order is actually placed by the Autotrader, your entry is an automated entry in every respect - except that you decided on-the-fly the level at which the entry would take place!

To reiterate, the trade you get is an automated trade.  You instruct the Autotrader where to enter, and it does so.   Hence, you can use an automated exit (e.g. '_Stops & Targets', or any other) to close the trade (or else drag the exit line to trigger your exit manually).

What It Looks Like

Observe the yellow and cyan horizontal trendlines:

These lines were placed either manually, or automatically by the Kiwi TL Limit Entry signal, a bit above and below the current market.  As shown, the lines are inactive.  You may drag them around at will.  Until you activate them, the lines are inert.

Notice the text to the left of the line?  When you are ready to activate the line, simply change the color of that text to White, using your right mouse button menu, and the line will become active for trading.  Notice the  red 'SE Lmt LIVE', indicating an active Short Entry line:

Alternatively, you may activate an entry line by dragging its label text upwards (just a bit will do).  As with the color change, this will be detected on the next tick and the line will then be activated.

Once a trade is entered, the opposite line switches from being an entry line to being an optional profit target. Notice the lower line is now "SX", for short-exit (but not LIVE yet):

Activation is the same for exit lines as for entry lines.  if you wish to activate the an exit line, change its text-label color to White (or drag the label upwards), and on the following tick it will become active.

Here we see the Short Exit line ("SX") once it has been made LIVE:

Finally, here is a picture of the trade completed after price has reached the target line:

If you wish, you may pair any automated exit signal of your choice with the TL Limit Entry trader for automatic exit management once you are in the trade.  (You probably want to do this to create a stop loss.)

The on-chart text to the right functions the same way - set the color of the desired action to White, and it will happen on the next tick.

Both inactive and active lines may be dragged, for maximum flexibility.

Want to see it in action?   Here's a video:

Video:  Kiwi TL Limit Signal - Activating and Moving the Lines

Imagine How You Could Trade

1.  Trade congestion boundaries or Fib levels as they develop live, with no need for complex pre-calculation.

2.  Go long at support or short at resistance, even if the support/resistance is a level that was established days ago.

3.  Drag your line behind the market and get filled on a retracement.

4.  Use your imagination!

What You Get

bullet   A single .sef file containing the signal which you apply to your chart, and the functions which the signal relies upon.
bullet   A sample workspace, with the signal applied, configured for IB
bullet   Instructions describing the signal inputs.
bullet   Customer Support for initial installation.

This package is distributed as a protected .sef file (source not disclosed), locked to your MultiCharts User ID.

Compatibility

This package is compatible ONLY with versions of MultiCharts distributed via direct download from the TSSupport web site.  Unfortunately, for technical reasons, this package IS NOT COMPATIBLE with separate versions of MultiCharts distributed by other means (e.g. other national or regional resellers, etc.).

What It Costs

$200 for a single, permanent personal-use license  Institutional and multi-person licenses are also available (contact:  questions@CodeForTraders.com).

Kiwi TL Limit Entry for MultiCharts -  $200 

How You Get It

This package will be emailed to you after your PayPal payment is processed.  Please be aware of the caveats before you order.