How to conduct a qualitative analysis of trading signals and select the best of them
The article deals with evaluating the performance of Signals Providers. We offer several additional parameters highlighting signal trading results from a slightly different angle than in traditional approaches. The concepts of the proper management and perfect deal are described. We also dwell on the optimal selection using the obtained results and compiling the portfolio of multiple signal sources.
Angles in Trading. Further Study Required
In this article, we discuss the method of trading analysis by measuring angles in the MetaTrader 4 terminal. The article provides a general plan of using angles for trend movement analysis, as well as non-standard ways to the practical application of angle analysis in trading. The article also provides conclusions that can be useful for trading.
ZUP - universal ZigZag with Pesavento patterns. Graphical interface
Over the ten years since the release of the first version of the ZUP platform, it has undergone through multiple changes and improvements. As a result, now we have a unique graphical add-on for MetaTrader 4 allowing you to quickly and conveniently analyze market data. The article describes how to work with the graphical interface of the ZUP indicator platform.
How to build and test a Binary Options strategy with the MetaTrader 4 Strategy Tester
Tutorial to build a Binary Options strategy an test it in Strategy-Tester of MetaTrader 4 with Binary-Options-Strategy-Tester utility from marketplace.
Working with currency baskets in the Forex market
The article describes how currency pairs can be divided into groups (baskets), as well as how to obtain data about their status (for example, overbought and oversold) using certain indicators and how to apply this data in trading.
Portfolio trading in MetaTrader 4
The article reveals the portfolio trading principles and their application to Forex market. A few simple mathematical portfolio arrangement models are considered. The article contains examples of practical implementation of the portfolio trading in MetaTrader 4: portfolio indicator and Expert Advisor for semi-automated trading. The elements of trading strategies, as well as their advantages and pitfalls are described.
False trigger protection for Trading Robot
Profitability of trading systems is defined not only by logic and precision of analyzing the financial instrument dynamics, but also by the quality of the performance algorithm of this logic. False trigger is typical for low quality performance of the main logic of a trading robot. Ways of solving the specified problem are considered in this article.
Using text files for storing input parameters of Expert Advisors, indicators and scripts
The article describes the application of text files for storing dynamic objects, arrays and other variables used as properties of Expert Advisors, indicators and scripts. The files serve as a convenient addition to the functionality of standard tools offered by MQL languages.
How to create an indicator of non-standard charts for MetaTrader Market
Through offline charts, programming in MQL4, and reasonable willingness, you can get a variety of chart types: "Point & Figure", "Renko", "Kagi", "Range bars", equivolume charts, etc. In this article, we will show how this can be achieved without using DLL, and therefore such "two-for-one" indicators can be published and purchased from the Market.
Evaluating the effectiveness of trading systems by analyzing their components
This article explores the effectiveness of complex trading systems by analyzing the efficiency of its individual components. Any analysis, whether it is graphic, based on indicators, or any other, is one of the key components of successful trading in financial markets. This article is to some extent a research of few simple and independent trading systems for analyzing their effectiveness and usefulness of the joint application.
Applying fuzzy logic in trading by means of MQL4
The article deals with examples of applying fuzzy set theory in trading by means of MQL4. The use of FuzzyNet library for MQL4 in the development of an indicator and an Expert Advisor is described as well.
Deep neural network with Stacked RBM. Self-training, self-control
This article is a continuation of previous articles on deep neural network and predictor selection. Here we will cover features of a neural network initiated by Stacked RBM, and its implementation in the "darch" package.
Enhancing the StrategyTester to Optimize Indicators Solely on the Example of Flat and Trend Markets
It is essential to detect whether a market is flat or not for many strategies. Using the well known ADX we demonstrate how we can use the Strategy Tester not only to optimize this indicator for our specific purpose, but as well we can decide whether this indicator will meet our needs and get to know the average range of the flat and trend markets which might be quite important to determine stops and targets of the markets.
Thomas DeMark's contribution to technical analysis
The article details TD points and TD lines discovered by Thomas DeMark. Their practical implementation is revealed. In addition to that, a process of writing three indicators and two Expert Advisors using the concepts of Thomas DeMark is demonstrated.
Fuzzy logic to create manual trading strategies
This article suggests the ways of improving manual trading strategy by applying fuzzy set theory. As an example we have provided a step-by-step description of the strategy search and the selection of its parameters, followed by fuzzy logic application to blur overly formal criteria for the market entry. This way, after strategy modification we obtain flexible conditions for opening a position that has a reasonable reaction to a market situation.
Price Action. Automating the Engulfing Pattern Trading Strategy
This article describes a process of creating an Expert Advisor for MetaTrader 4 based on the Engulfing pattern, as well as the pattern recognition principle, rules of setting pending orders and stop orders. The results of testing and optimization are provided for your information.
How to Develop a Profitable Trading Strategy
This article provides an answer to the question: "Is it possible to formulate an automated trading strategy based on history data with neural networks?".
Price Action. Automating the Inside Bar Trading Strategy
The article describes the development of a MetaTrader 4 Expert Advisor based on the Inside Bar strategy, including Inside Bar detection principles, as well as pending and stop order setting rules. Test and optimization results are provided as well.
Managing the MetaTrader Terminal via DLL
The article deals with managing MetaTrader user interface elements via an auxiliary DLL library using the example of changing push notification delivery settings. The library source code and the sample script are attached to the article.
Statistical Verification of the Labouchere Money Management System
In this article, we test the statistical properties of the Labouchere money management system. It is considered to be a less aggressive kind of Martingale, since bets are not doubled, but are raised by a certain amount instead.
Identifying Trade Setups by Support, Resistance and Price Action
This article shows how price action and the monitoring of support and resistance levels can be used for well-timed market entry. It discusses a trading system that effectively combines the two for the determination of trade setups. Corresponding MQL4 code is explained that can be utilized in the EAs based on these trading concepts.
Trading Ideas Based on Prices Direction and Movement Speed
The article provides a review of an idea based on the analysis of prices' movement direction and their speed. We have performed its formalization in the MQL4 language presented as an expert advisor to explore viability of the strategy being under consideration. We also determine the best parameters via check, examination and optimization of an example given in the article.
How we developed the MetaTrader Signals service and Social Trading
We continue to enhance the Signals service, improve the mechanisms, add new functions and fix flaws. The MetaTrader Signals Service of 2012 and the current MetaTrader Signals Service are like two completely different services. Currently, we are implementing A Virtual Hosting Cloud service which consists of a network of servers to support specific versions of the MetaTrader client terminal. Traders will need to complete only 5 steps in order to rent the virtual copy of their terminal with minimal network latency to their broker's trade server directly from the MetaTrader client terminal.
Why Is It Important to Update MetaTrader 4 to the Latest Build by August 1?
From August 1, 2014, MetaTrader 4 desktop terminals older than build 600 will no longer be supported. However, many traders still work with outdated versions and are unaware of the updated platform's features. We have put a lot of effort into development and would like to move on with traders and abandon the older builds. In this article, we will describe the advantages of the new MetaTrader 4.
Common Errors in MQL4 Programs and How to Avoid Them
To avoid critical completion of programs, the previous version compiler handled many errors in the runtime environment. For example, division by zero or array out of range are critical errors and usually lead to program crash. The new compiler can detect actual or potential sources of errors and improve code quality. In this article, we discuss possible errors that can be detected during compilation of old programs and see how to fix them.
Upgrade to MetaTrader 4 Build 600 and Higher
The new version of the MetaTrader 4 terminal features the updated structure of user data storage. In earlier versions all programs, templates, profiles etc. were stored directly in terminal installation folder. Now all necessary data required for a particular user are stored in a separate directory called data folder. Read the article to find answers to frequently asked questions.
Data Structure in MetaTrader 4 Build 600 and Higher
MetaTarder 4 build 600 features the new structure and location of the client terminal files. Now, MQL4 applications are placed in separate directories according to the program type (Expert Advisors, indicators or scripts). In most cases, the terminal data is now stored in a special data folder separated from the terminal installation location. In this article, we will describe in details how data is transferred, as well as the reasons for introducing the new storage system.
Offline Charts in the New MQL4
Updated MQL4 has the new format for storing historical data and provides the appropriate MqlRates structure for convenient storage of Time, Open, Low, High, Close and Volume values. For many years, traders have developed their MQL4 applications that collect and store their data in HST files for generating offline charts. We can assure you that all previously compiled EX4 files will work in the new MetaTrader 4 terminal the same way as before.
Testing and Optimization of Expert Advisors
The article provides a detailed description of the process of testing and optimizing Expert Advisors in the MetaTrader 4 Strategy Tester. The importance of such information and the need for this publication cannot be underestimated. A lot of users who only get started with the MetaTrader 4 trading platform have a very vague idea of what and how needs to be done when working with Expert Advisors. The proposed article gives simple and clear answers to all of these questions and provides a slightly more professional approach to handling these issues using a specific example.
Lite_EXPERT2.mqh: Expert Advisor Implementation Examples
In this article, the author continues to familiarize the readers with the Lite_EXPERT2.mqh functions using real Expert Advisor implementation examples. The article deals with the idea of using floating pending orders and pending orders that vary dynamically from deal to deal which are determined based on Average True Range (ATR) indicator values.
Advanced Analysis of a Trading Account
The article deals with the automatic system for analyzing any trading account in MetaTrader 4 terminal. Technical aspects of a generated report and interpretation of the obtained results are considered. Conclusions on improving trading factors are drawn after the detailed review of the report. MQLab™ Graphic Report script is used for analysis.
Visual Optimization of Indicator and Signal Profitability
This article is a continuation and development of my previous article "Visual Testing of Profitability of Indicators and Alerts". Having added some interactivity to the parameter changing process and having reworked the study objectives, I have managed to get a new tool that does not only show the prospective trade results based on the signals used but also allows you to immediately get a layout of deals, balance chart and the end result of trading by moving virtual sliders that act as controls for signal parameter values in the main chart.
Lite_EXPERT2.mqh: Functional Kit for Developers of Expert Advisors
This article continues the series of articles "Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization". It familiarizes the readers with a more universal function library of the Lite_EXPERT2.mqh file.
EA Status SMS Notifications
Developing a system of SMS notifications that informs you of the status of your EA so that you are always aware of any critical situation, wherever you may be.
Expert Advisor for Trading in the Channel
The Expert Advisor plots the channel lines. The upper and lower channel lines act as support and resistance levels. The Expert Advisor marks datum points, provides sound notification every time the price reaches or crosses the channel lines and draws the relevant marks. Upon fractal formation, the corresponding arrows appear on the last bars. Line breakouts may suggest the possibility of a growing trend. The Expert Advisor is extensively commented throughout.
Simple Methods of Forecasting Directions of the Japanese Candlesticks
Knowing the direction of the price movement is sufficient for getting positive results from trading operations. Some information on the possible direction of the price can be obtained from the Japanese candlesticks. This article deals with a few simple approaches to forecasting the direction of the Japanese candlesticks.
How Reliable is Night Trading?
The article covers the peculiarities of night flat trading on cross currency pairs. It explains where you can expect profits and why great losses are not unlikely. The article also features an example of the Expert Advisor developed for night trading and talks about the practical application of this strategy.
Money Management Revisited
The article deals with some issues arising when traders apply various money management systems to Forex trading. Experimental data obtained from performing trading deals using different money management (MM) methods is also described.
Alert and Comment for External Indicators (Part Two)
Since I published the article "Alert and Comment for External Indicators", I have been receiving requests and questions regarding the possibility of developing an external informer operating based on indicator lines. Having analyzed the questions, I have decided to continue with the subject. Getting data stored in indicator buffers turned out to be another area of interest to users.
Alert and Comment for External Indicators. Multi-Currency Analysis Through External Scanning
Alert for multi-currency and multiple time frame analysis of external indicators. The article deals with a method of getting event information in respect of events in external indicators, without having to attach indicators to a chart or open charts themselves. We will call it external scanning.