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2016.04.26 14:45

Daily Research - script for MetaTrader 4

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votes: 9

This script is designed for obtaining various statistical data on the chart candlesticks on the selected timeframe.

From the correspondence with the author (drknn):

In short, it was like this: a friend wrote me and offered to open exactly at the junction of the days. To open in the same direction as the color of the candlestick of the previous day. If there is currently a junction of days, then on D1 the candlestick of the current day is closing, and during the first ticks of the zero candle we check the first candlestick. If it was bearish, then open short. Long story short, so as not to plunge headlong into the maelstrom, I told my friend that I would write a script which would collect the statistical information and show the probability of taking 10 points of profit in case of a match/mismatch in the candlestick color. I decided not to display the case with matching in the script. It is obvious, that if the color matches, then there almost one hundred percent probability of taking 10 points of profit.

So I was more interested with the probability to take these points when the colors of the candlesticks do not match. Take, so to speak, on the wicks. The script showed quite high probability on some currency pairs. It also helped to quickly filter out the pairs with relatively low probability. Taking 5 points of profit showed even greater probability. We started testing this on real trades and found that this thing works. Now we almost never use it, as there are plenty of profit points per day, and the trading system has been polished enough over the time of our sleepless nights and experiments. Therefore, I can freely give out this script to people.

The operation technique is as follows: at the junction of two days open in the direction of the previous day. Stop is at the discretion of the user. Next, entering should be performed not with minimum lot by far, but at least with two minimum lots. As soon as there are 10 points of profit, close a part of the position lots and move the stop loss to breakeven. Then you can turn off the terminal and go to bed, or place a trailing stop of about 25 points in the terminal and also go to bed. Sometimes the stop moved to breakeven does not get triggered, and we take not 10, but far more points of profit.

Translated from Russian by MetaQuotes Software Corp.
Original code:

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