Reverse Script is a handy VertexFX client-side script that reverses open positions in current trading account. The purpose of this script is to reverse existing open positions quickly, reliably and accurately in an automated mechanism. There are circumstances when a trader feels that the market conditions have reversed and he needs to reverse his open positions. The trader is able to accomplish this with a single click using the Reverse script.
The script
iterates through each open position (either a BUY or a SELL trade), and then
closes it at the market price. After the original position has been closed, it
opens a new trade with the same lot-size in the opposite direction. So, a BUY
position is closed and an opposite SELL position with an identical lot-size is
opened. Likewise, a SELL position is closed and an opposite BUY position with
an identical lot-size is opened. If CurSymbolOnly is set to TRUE, then the
script reverses positions only for the current chart symbol leaving open
positions of other symbols untouched. However, if CurSymbolOnly is set to
FALSE, then the script reverses open positions of all symbols.
If StopLoss and
TakeProfitparameters are configured then the script sets the stop-loss and the
profit-target of the reversed positions accordingly.
The Reverse
script does not act upon pending orders, namely BUY-LIMT, BUY-STOP, SELL-LIMIT
and SELL-STOP orders. It acts only on open positions, thus leaving the pending
orders untouched.
Configurable
Inputs
1.StopLoss –
The stop-loss of each individual trade in pips.
2.TakeProfit –
The profit target of each individual trade in pips.
3.CurSymbolOnly–
Specifies whether the script is applicable to open positions of all symbols, or
only for the current chart symbol.
4.MarketWatch –
Specifies whether the stop-loss and take-profit (if configured) are sent to the
broker immediately, or only after the reverse position is opened. If set to
TRUE, then the stop-loss and take-profit are set only after the reverse trade
is opened. If set to FALSE, then the stop-loss and take-profit are sent to the
broker along with the reverse order request.
C:\ProgramData\VertexFX Client Terminals\"Company name"\VTL10\Local
VTL Scripts
Then right click on the
tree and select refresh or restart your client station and you will find under
VTL local scripts in your client terminal.
You can check this video that talks about Reverse Script: