Financial software developer Fx Blue said on Tuesday it has released a new build, V3, for the Trading Simulator for the MetaTrader 4 (MT4) trading platform, which features multiple timeframes and smart lines.
Traders can view multiple timeframes as offline charts in MT4. Once they open a new chart, traders can add indicators as usual and the chart will automatically update in line with the main simulated chart. Each opened extra timeframe, however, reduces the speed of the MT4 Stimulator. The extra charts created by the Simulator are listed as entries such as !SIM,H4.
Smart lines, on the other hand, use line objects drawn on an MT4 chart as the stop-loss or take-profit (SL&TP) for positions. Their main futures are TP, multiple partial stops at different prices (ie. partial closes at different price levels), and time-based stops (eg. close all positions at midnight).
Several different types of smart lines are available – horizontal and trend-lines, which create a price-based stop or take-profit, and vertical lines, which create a time-based stop. There are also three ways to set the volume at which to close when a line is hit: a percentage of the order/position size, a fixed amount to close, and a fixed minimum amount to leave open. Moreover, traders can choose to close orders individually, or to remove a line automatically if another line is triggered.
In addition, the new version of the MT4 simulator also has new keyboard shortcuts. Following is a list of some of the added shortcuts:
- Alt+P: pauses the Simulator
- Alt+]: increases the speed of the backtesting (equivalent to moving the slider in MT4’s settings)
- Alt+[: reduces the speed of the backtesting
- Ctrl+Alt+B: places a buy order using the current volume, s/l, and t/p settings\
- Ctrl+Alt+S: places a sell order using the current volume, s/l, and t/p settings
- Ctrl+Alt+C: closes all open positions and pending orders
In addition to the MT4 Trading Simulator, Fx Blue also offers a Trading Simulator for MetaTrader 5 (MT5). FX Blue’s product portfolio consists of web publishing and analysis services, used by traders in over 120 countries worldwide, and software development and services suitable for brokers, traders and developers. One of its key products, FX Blue Live, is a web-based service for analysis of trading results, which supports the trading platforms MT4, MT5, cTrader, Oanda fxTrade, xOpenHub, Vertex FX, and FXCM TS2. Most of the products are available as widgets, including FX Blue results, banners, dynamic and static charts, RSS feeds of open and recently-closed positions.
FX Blue previously operated as MT4i, but changed its name in June 2014 after it added support for platforms other than the MT4.