Trade beads improvement

[Hans]

I started using the trade beads, and think they are great to create scale orders around key levels on the chart. 

There are a few things I would like to suggest as improvements. 

1. Clear beads via keyboard shortcut / via Clear All button in the beads area. Clearing should be just 1 click. Sometimes, beads can be outside the visible area of the chart, which may cause some unexpected behavior when hitting the hotkey and placing the orders. Better to just clear them quickly to make sure that there are no surprises.

2. Add a hotkey function that returns the number of beads used on the chart. This would be useful to configure a hotkey which uses all the beads on the chart, whether there are 1, 2, or even 20, and divides the required position size by number of beads in use.

3. Wider clickable area, to make it more intuitive to use. The current area is a bit narrow (just along the vertical line) making it a little tricky to hit.

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Hope that makes sense, will be happy to hear your thoughts!

Edited November 30, 2023 by Hans

[Mike Medved]

First of all, am happy someone found trade beads useful. We have a lot of nifty features that I thought would be useful to traders - such as the trade beads, of option interest trees, or max pain box, that I don't get much feedback on, so I think no one uses them.

There is already a clear beads shortcut. Look at keyboard shortcuts page in settings and do a search (the field uptop) for "bead"....

The other two - will do although am not sure how useful the NumBeads variable will be. Also - if you have beads 1 2 and 5 turned on, the NumBeads will be 3.

 

[Hans]

Hi Mike,

thanks for your feedback. it took me a while to get my head around the beads.  it's a nice and unique feature, just not much out there providing some inspiration how to use them. 

Re point 1) thanks for pointing me to the shortcut. It works!

re point 2)  In my experience, when all beads are cleared, and I start over placing new beads with the mouse, MT will create them in logical sequence: bead 1-2-3...

NumBeads should return the # of beads on the chart, regardless of bead number.

My workflow for every trade could be something like that:  1. clear beads 2. set trade beads with the mouse. click-click-click- as many as I think are appropriate for the trade 3. hit my magic hotkey, which  places orders at all bead levels. 4.My magic hotkey calculates the position size for each order, using NumBeads. 

A basic example

in case 2 beads on chart: position size will be calculated as 1/2 at bead(1), 1/2 at bead(2)

in case 3 beads on chart: position size will be calculated as 1/3 at bead(1), 1/3 at bead(2), 1/3 at bead (3)

With NumBeads I can cover both situations with a simple hotkey...

Edited December 3, 2023 by Hans