We are excited to announce the latest update to our AlgoBuilderX software, which introduces a new feature to enhance the management and organization of your trades: the Label. This new feature allows you to assign a “name” to your trades, making it easier to group and manage operations according to your specific needs.
What Are Labels?
Labels function as customized names that you can assign to your trades. You can set these labels using both letters and numbers, offering flexibility in naming your trades. This allows you to create distinct groups of trades, making it easier to identify and manage them based on specific criteria.
Where to Set the Labels?
To start using the Labels, you need to click on “assign filter” within the trade execution blocks (Buy and Sell) and activate the “Label” checkbox, from where you can assign a customized name.
Once the Labels is set, you can interact with this filter in the following blocks:
- Check Trades;
- Count Check History Trades;
- Get Trades Information;
- Get Orders Information;
- Modify Trade;
- Close Trade;
- Delete Order.
Example of Use Example of Using the “Label” Filter
Let’s imagine having two condition blocks in your trading strategy, each leading to a buy action. Assign a “Label” to each buy action to differentiate the trades:
Execute Trade Buy: Label: “GroupA”.
Execute Trade Buy: Label: “GroupB”.
Now, suppose you have a trade open for each group. If you want to close only the trades of the “GroupA”, you can use the “Close Trade” block with the filter set to “GroupA”. By doing so, the system will close only the trades associated with the “GroupA” label, leaving the trades of the “GroupB” open.
Important Considerations:
It is essential to assign the Labels in the trade execution block (Buy or Sell) because that’s where the trade is generated. To customize or manage these groups of trades, make sure to insert the filter with the same name as the Labels in the other blocks. Also, it is crucial that the Labels name is identical in all the blocks where you want to use the filter for a particular group.
Happy trading,
The AlgoBuilderX Team