Market Condition Evaluation based on standard indicators in Metatrader 5 - page 28
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Breakout for EURUSD M1:
Charts / EURUSD, M1, 2013.03.18 — MetaQuotes Software Corp., MetaTrader 5, Demo
=========
I can not upload market condition for today/for this week - it is gap in data on the chart for few brokers. So, I will make links' comments/summary for 2 threads ( Signal Systems and Market Condition Evaluation based on standard indicators in Metatrader 5 ) on the way as angevoyageur did for How to Start with MT5 thread. The only difference is that I will not create new threads for that, and I will make the summaries as the comments on those thread.
Just for information.
Here you are. I uploaded with the permission of the coder (igorad). And I asked him to make an entry to mql5 Codebase with this indicator and in this case - whole MT5 community will have possibility to use it.
Here too, I wait to have both indicators in CodeBase to also publish Asctrend EA in CodeBase.
Just some interesting situation is going on for EURUSD.
EURUSD M30 - market rally is going on within primary bearish. But if Chinkou Span line will cross the price on historical data from below to above so it may be good breakout.
Charts / EURUSD, M30, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
EURUSD H1 - the situation is exactly the same one as for M30 timeframe
Charts / EURUSD, H1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
EURUSD H4 - flat
Charts / EURUSD, H4, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
EURUSD D1 - ranging bearish (bearish as primary trend and ranging as the secondary one)
Charts / EURUSD, D1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
It was already breakout for EURUSD M1:
Charts / EURUSD, M1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
but for M5 timeframe - not yet (not breakout yet). If price will break 1.2950 resistance line on close bar so we may consider this trend as possible breakout. But for now - not yet.
Charts / EURUSD, M5, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
So, I think - we need to wait. Nearest resistance for USDCHF for breakdown is 0.9444 and 0.9440. Nearest resistance for EURUSD breakout is 1.2950; 1.2953 and 1.2969.
leading pair with EURUSD/USDCHF combination is USDCHF for now especially for H1 timeframe for example. So, if we are trading EURUSD - we need to watch USDCHF as well.
Breakout for EURUSD H1 and breakdown for USDCHF H1 are going on for open bar for now:
Charts / USDCHF, H1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
Charts / EURUSD, H1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
And my trades were closed in profit (I am estimating the market condition and trading on the same time):
This is more understandable situation for - still breakout/breakdown on open bar ... but at least we can see it on the chart in very good clear way for example:
Charts / EURUSD, H1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
Charts / USDCHF, H1, 2013.03.19 — MetaQuotes Software Corp., MetaTrader 5, Demo
It was breakout for USDCHF and breakdown for EURUSD.
You know ... market condition is such a difficult "condition" so we should monitor it all day and night. So, it may be good to have some special tool/indicator/EA which will send an email about market condition changed for pre-selected pairs/timeframes. Just an idea.