Archive-Custom-Post-Type order by Event Date, ASC, and hide events that have completed

I quess that it would be easiest for you to store date as unix timestamp in post meta – than you can easily filter posts by post meta less than current timestamp (or any other date timestamp).

See this example (not exactly for your code, but you’ll catch the punch line:

$args = array(
   'post_type' => 'tr-events',
   'meta_key' => 'wpcf-tr-order-date',
   'orderby' => 'meta_value_num',
   'order' => 'ASC', //DESC, its up to you
   'meta_query' => array(
       array(
           'key' => 'wpcf-tr-order-date',
           'value' => strtotime('now'),
           'compare' => '<',
       )
   )
 );
 $query = new WP_Query($args);

As I mentioned, you’ll have to rewrite this piece of code to $query->set(); format