Das Hotkey - Place Order W Fixed Risk and automatic Range Order for Stop chosen on the chart and 2R Take Profit target

[lucian_dinu 2]

The scripts bellow are for LONG and SHORT, in the particular case bellow Fixed risk is 10$, (described in the script as Share=10/Price, if you want 30$ risk, change 10 to 30 )

 

You will choose the Stop on the Chart, Press or Execute Hotkey/script, automatically an order with assigned fixed risk will be sent to be filled, once filled automatically a range order will be placed for STOP at the price chosen on the chart and Take Profit at 2x the Risk (price difference between Average Price and STOP)

 

Basically this is a script with stop at 1R chosen on the chart and Take Profit at 2R

 

 

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For LONGS: How you should use it(same for shorts):

 

1. Double Click on the Chart for the Stop Price

2. Press Hotkey For the Long Position Risk 10$

3. Hotkey Script will send order with the Assigned risk ($10 in this case,) will calculate the number of shares automatically for you

4. The Script will create a "range order": place a Stop order where you've double clicked on the chart and a Take Profit / TP order at 2x the risk (Risk /Reward   - 1/2)

If you would like to change the reward to 3, or other multiples, chance the  part of the script "Price=Price*2" to Price=Price*3 for example of 3Reward

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LONG Side Script

 

StopPrice=Price;Price=Ask-Price;Share=10/Price;ROUTE=LIMIT;Price=Ask+.05;TIF=DAY+;BUY=Send;
StopPrice=StopPrice;Price=Ask-StopPrice;Price=Price*2;Price=Ask+Price;Price=Round2;
TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:StopPrice HighPrice:Price ACT:SELL QTY:POS TIF:DAY+;

 

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SHORT Side Script 

 

StopPrice=Price;Price=Price-Bid;Share=10/Price;ROUTE=LIMIT;Price=Bid-.05;TIF=DAY+;SELL=Send;
StopPrice=StopPrice;Price=StopPrice-Bid;Price=Price*2;Price=Bid-Price;Price=Round2;
TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:Price HighPrice:StopPrice ACT:BUY QTY:POS TIF:DAY+;

 

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! Always test any scripts and hotkeys in DEMO account prior to using them in real account with real money.