Traders trading forex/futures instruments on MetaTrader4 platform usually spend considerable amount of their time entering their order and manage it. If you were looking for ways to automate all aspects of order life cycle, or if you were searching and waiting for some tool or expert advisor to do so, your wait is over. Holistic Order Manager (HOM) has arrived. HOM is very sleek, extremely responsive and simple to operate expert advisor. HOM is feature rich so as to allow you to focus and concentrate where your 100% attention is required – Technical Chart Analysis to make buy or sell decisions, and deciding order’s auto management style. HOM is extremely customizable, such that trader can adjust it their liking and trading style.
HOM is not just an expert advisor for MetaTrader4 platform, but it’s a complete system in itself. HOM runs inside only one chart, and can handle all aspects of order entry and management for all the instruments allowed and traded in the broker’s MetaTrader4 platform. You can predefine default initial risk method to open order entry controls. HOM can manage different trailing method for each order separately. There is no need to launch HOM expert advisor in separate charts for different currency pairs and different timeframes to manage orders. You have option to create phantom orders and they are saved internally in HOM on your machine. So, in worst case, if broker’s Metatrader4 platform is crashed/closed or internet connection is lost, and when platform is reopened later, it will start monitoring all phantom as well as live orders again. HOM can work in two instances concurrently (one in live/demo account and another one in strategy tester) without interfering with each other. This unique feature will allow you to do back testing in Strategy Tester during dull market hours, while your active live orders are managed by HOM. You don’t need to open two instances of MetaTrader4 platform in order to have live and tester mode run concurrently.
If you are serious about your trading business, and can spare about an hour of your precious time, we would like you to watch complete introduction to HOM video below. If you are short on time, please glance at all the features available in HOM with their very brief videos below.
All order entry and modification price controls can magnet to closest pip. Override is possible with SHIFT key.
Lots of visual information available about order risk reward, profit / loss in pips, dollar amount, and percentage. Detail information available for any open or closed order.
Just by changing stop entry / phantom stop, all entry controls can be changed from Buy to Sell order and vice versa, before placing order. Also by changing stop entry and phantom stop controls, you can change between stop, limit or bracket entry (OCO).
Just by clicking while CTRL key is down at the price level of your order, it will display entry controls. You can adjust them to your liking and make ready for execution.
Only one instance of HOM is needed in your broker’s terminal to manage all phantom / live orders for all allowed currency pairs.
Maximum two instances of HOM are need in each MetaTrader platform. Both separate instances of HOM can run, one in live/demo account and another in strategy tester, concurrently without interfering with each other.
You can avoid getting into trade or stopped out of the trade little early or little late due to broker’s bid/ask difference with market’s bid/ask prices.
Phantom stop loss is hidden from Broker’s platform. Hard stop entered on broker’s platform is visible to both Broker as well as market participants. If you suspect of constant stop running, phantom stop loss is your answer.
Phantom orders are hidden orders and not visible on Brokers platform. Instead of having pending stop/limit order on Broker’s platform, phantom orders are monitored by HOM and executed only when your order entry criteria are matched.
Buy/Sell phantom order can be changed from stop to limit, limit to stop, or bracket entry (OCO). But you can’t modify buy phantom order to sell order, and vice versa.
Ability to split phantom order from beginning into sub-orders (with same magic#), when defined order criteria is reached.
Ability to partially close existing live order. You can close part of an order (at profit/loss), and keep another part (to let it run/give more time).
All information related to phantom / live orders is salved internally in HOM. No information is lost if HOM is stopped due to expert advisor issue / broker’s platform crash / internet connection loss. It picks up from the last time as soon as EA is restarted.
Risk for your order can be defined based on fix # of lots, fix percentage of account balance, or fix dollar amount.
All trader’s chart color scheme is different. If HOM’s default color settings are not appropriate for your chart, you can customize HOM’s color scheme.
View all information about any live order open for modification like no. of lots, whether in profit or loss, how much (in no. of pips and dollar amount).
HOM can handle all your orders during their life cycle – from auto entry, adjustment to close. (Auto trailing stop).
All five trailing stop methods can be changed from one to another throughout the order’s life cycle. (Auto trailing stop).
Besides option to opt out auto trailing or manually adjusting stop for your order, HOM provides five auto trailing method. Each one of them is highly customizable to trader’s requirement.
Any order can be displayed for modification just by selecting from drop down order list. If symbol on current chart is different from symbol for order, HOM will on the fly change symbol before order is displayed for modification.
If your order is in profit, you can set stop loss for order to breakeven in single click. By pressing… Read more…No tags for this post.