Along with a standard way of an order rate specification as a fixed value, TradeRoom offers an opportunity to set it as an increment, which is the distance to a base rate.
When the rate is specified as an increment, the rate exact value is calculated by addition of specified increment points to a base rate. The distinctive feature is the value is estimated at the very order activation rather than at once, i.e. when an active order is saved, and as for an If Done order, when it is activated. It is a base rate value at the estimation which is used for the rate exact value.
The increment is to be specified in points and should be a nonzero integer. Both positive and negative increments are possible. The rate exact value is calculated as the specified increment points added to (or, depending on a sign, subtracted from) a base rate.
The implemented formula uses for a base rate the current one at the order activation.
To set a rate as an increment, just enter a =+50 formula in the rate field. The formula always starts with a "=" mark followed by the increment sign (direction) and its value in points. For instance, =+50 means the order rate incremented 50 points above the current rate, =-75 means the order rate set 75 points below the current one.
The same formula is used for the rate set as an increment displayed in the orders information.
You can specify the rate as an increment in any field meant for an order rate, that is in an order editing form, in a list of linked If Done orders, at an order rate prompt editing in a list of active orders, and at an order placement or modification after a Forex trade has been executed.
You can change a rate fixed value to an increment whensoever. A new rate is always calculated as to a base rate at the editing, but not as to a rate previous value.
Specifying a rate as an increment makes work with orders much more convenient. It provides a better visualization, increases work efficiency, allows for lesser errors at a rate calculation and specification, and makes it unnecessary to adjust If Done orders rates when a parent order rate changes.
The example below shows new possibilities and the advantages of the increment
rate for a trade executed by the order at a rapid market movement, i.e. when
a trade sometimes cannot be executed in a standard way.
To execute a trade with an order, just create an active order with the parameters you need, specify its rate as =+1, and mark the OCO order checkbox. The OCO order rate will be automatically set as =-1. Thus two OCO orders with the rates 1 point both above and below the current rate will be placed. One order of the pair is certain to be executed at any movement of the market, whereas the second one is cancelled. This secures a trade quick execution at a "the current +1" or "the current -1" rate.
For more illustrations of the use of a rate set as an increment, please go to Examples of usage of the orders.