InstaForex Magic Buttons

Review of the Magic Buttons complex capabilities

We are proud to present you the program complex InstaForex Magic Buttons (IFX_MB). This tool was designed to simplify managing open orders. It can maintain the following tasks:

setting Stop Loss (SL) and Take Profit (TP) for open deals
setting up the parameters of Trailing Stop Loss
setting up various signals in order to receive important information
closing deals

Complex startup

Before complex startup you should make sure that you have proper settings in the terminal. The options “Tools/Options/Expert Advisors/Allow live trading” and “Tools/Options/Expert Advisors /Allow DLL imports” should be activated.

After adjusting the settings you can start Magic Buttons complex. To do so, choose “IFX_MB” in the section “Expert Advisors” in the Navigator (View/Navigator) and drag it to the chart window:

If there are open trades on the account at the moment, their tickets will be shown in the field “Choose trade”. Now you can start using “IFX_MB” complex:

Setting Stop Loss and Take profit levels

In order to set/change Stop Loss (SL) and/or Take Profit (TP) you should:

choose the ticket of the modified trade
click the button “Set SL/TP” to activate the window for data input
set the required SL and/or TP value
click “Apply”

There are two options of SL/TP calculation: “In pips” and “In percents”. In the former case the value is chosen in pips, which is the minimum step of price change. In the latter option the value is calculated in percents of the trade opening price (where the opening price is 100%).

As a result of this operation these parameters will be applied to the trade.

In case of an error, an alert containing detailed information about the error will be displayed.

Setting Trailing stop loss parameters

In order to set (or alter) Trailing Stop level you should:

select the ticket of the modified trade
click the “Trailing Stop” button to activate the window for data input
set the distance
нclick the “Apply” button

Trading Stop type can be chosen either in points (in terms of minimum price change) or in percent (where the opening price is 100%).

Trailing Stop calculation is possible in two forms as well: “For the current price” and “For the bar opening price”. In the first case the profit is calculated on the basis of the current, while in the second case - the opening price for a bar on a certain trading instrument within the timeframe equal to that attached to the advisor.

As a result of this operation these parameters will be applied. Trailing stop will start working as soon as the change of current price (or a bar opening price) will result in obtaining profit that will allow setting stop at the required distance.

Setting up signals

In order to enable/disable and adjust a signal you should:

choose trade ticket in case the required signal is applied to a certain trade
choose the required signal, set up its parameters and click “Activate”; in order to deactivate the signal click “Deactivate” or “Deactivate all” in this category

Closing trades

“IFX_MB” program complex allows expanding the terminal’s options of closing trades.

In order to use these options you should:

choose “Closing deals” in the main window of the “IFX_MB” complex
choose a method of closing in the opened window and, if necessary, adjust its parameters

Several methods of closing are provided:

“Close all trades” – all trades in this account will be closed
“Close all profitable trades” – all trades with profit below zero will be closed
“Close all unprofitable trades” – all trades with profit below zero will be closed
“Close all trades with instrument” – all trades with the chosen instrument will be closed
“Close all trades for … hours” – all trades opened within the indicated time period will be closed