Local SL/TP orders plus major DOM Surface update — Quantower trading platform
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Local SL/TP orders plus major DOM Surface update

by Quantower  |  January 29, 2019

After a bit of rest during the New Year holidays, our team began to develop functions for you actively. As a result, we've prepared new Local closing orders, updated the DOM Surface panel, and some more cool features. Let's dive inside this new version release.

Local SL/TP orders

The main feature of this release is Local stop loss & take profit orders functionality, allowing to set these types of orders for all connections that don't natively support them. Worth mentioning that You can place local SL/TP orders for any available integration of Quantower, thus being beneficial for those traders who wish to use advanced placement settings.

Local stop orders in Quantower

Quantower provides this functionality using the Orders placing strategy feature, meaning that all of the Local orders are solely handled on the platform side (literally "on your machine"). Such behavior leads to some important notices and limitations that users should understand before use of Local closing orders:

  • We insist that you read, practice, and understand how the Local closing orders work before using them for live trading. You can also watch this brief video manual
  • Local orders exist and are managed on the platform side only.
  • When you close the platform, it will permanently delete ALL Local orders.
  • When your platform loses connection, it will permanently delete all Local orders related to this connection.

Compared to the native realization of SL/TP orders, the Local ones have more placement parameters, allowing you to operate more quickly and accurately. For example, you can easily set up Local brackets orders for closing your position in multiple tiers. The list of advanced settings contains:

  • orders price specifying type — Offset, Percentage & Absolute
  • type of closing orders — Stop or Limit
  • placement modes — Simple SL/TP or Multiple brackets (up to 3 tiers)
  • trailing price mode for closing orders (both SL & TP)
  • parent quantity tracking, for automated closing quantity modification, etc.

Local stop orders parameters in Quantower

Local orders are also parent-related, meaning that each time you create an order or position with Local SL/TP, they will be connected as "parent and child." The platform will monitor the parent order/position state and automatically close its Local "Childs" on close or cancel, so you don't need to do this manually.

You can track your active strategies for Local SL/TP in the Order placing strategies panel. There you will find the strategy status and detailed logs about its operation.

Local stop orders in various panels in Quantower

Along with this update, we've added a possibility to see and manage Local orders in any Quantower panel as usual server-side orders. You will see a specific "Local" label placed alongside each local order in the Working orders, Chart, DOM trader, and other panels.

While the trader can use the functionality of the Local orders with connections that support SL/TP orders natively, we strongly recommend avoiding mixing them. The platform will show a warning message each time you try to use both simultaneously.

DOM Surface panel enhancements

A huge update was made for the DOM surface panel. We have paid attention to the performance and visual optimisations, and feedback from the Traders community:

  • Significant memory optimisation
    We've made an update in the DOM drawing algorithm, twice reducing the required computer resources thus making a user experience more smooth and stable.
  • Separate time-based volume display
    Separate time-based volume display in Quantower DOM Surface
    One of the requests from our trading community was to show the trades volumes on a separate scale. Now you can enable volume display from the context menu as well as select one of the four types of view: Combined, Overlay, Mirror, & Delta. More about these types read in our documentation.
  • New size & cumulative size column
    Size/Cumulative side column in Quantower DOM Surface
    Another request was to combine a trade size and commutative size columns in one to reduce the visual space. Now you can enable this column from the context menu.
  • Left profiles visual update
    Left profiles visual update in Quantower DOM Surface
    Another complaint from our traders community was a bad readability of left profiles because of a huge colors overlay. We have tuned the colors and added a gradient background to enhance the user experience.
  • Level 2 lines extension in future
    Level2 lines extension in Quantower DOM Surface
    Now you can enable a prolongation of DOM lines from the last bar till the price scale.
  • Trades display size and coloring settings
    Trades display size & coloring settings in Quantower DOM Surface
    One more request from our community was to give additional controls over the visual representation of the trades on the surface. Now you can change the fill and borders colors as well as select the type of trades size drawing: “Depending on the trade size” or “Fixed size” in pixels.

Another updates

Alongside these vast updates, some minor but essential and long-awaited functions have also become available:

  • added an ability to load custom plugins from the platform Settings folder (Settings -> Scripts -> plugins);
  • updated STD calculation formula for VWAP;
  • added more filter settings in Level2 indicator;
  • added Centerline option for DOM Trader panel, showing the middle divider between buying & sell sides;
    Centerline in Quantower DOM Trader
  • new indicator: Historical Min/Max (it shows in the percentage of how far is the current price for Max and Min values)
  • added a “Data delay” marker for Chart, TPO, DOM Surface, Time Sales, and other panels, indicating whether your connection has data lag.

That’s all for now. Please share your thoughts in comments and spread this news among other traders.

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