@SDC: All TA depends on Averaging to filter out Price Noise. For me Averaging is Elementary at this stage. Whats I find important now-a-days are the statistical properties of a system. Questions like: whats the probability of me Doubling the Account before it ruins? How often can I expect to see a 20% drawdown - or 30% or 50%? Does system-A do a better job than system-B at reducing the drawdown for the same average returns?
Once the system answers to the above questions are good enough for your Psychology then you go live. But one thing you have to keep in your mind is that no system is bullet-proof. Therefore, I start with and only keep what I would like to lose in the account.
CandleTimer is an indicator that can be usable for scalper and short-term traders. It shows the following useful information:
Remaining and past time of a candle on the current chart or other timeframe Alarm setting for play sound at the start of the current candle Show SL/TP line defining whether the indicator has a Sell or Buy order or both Show a spread value Show Ask and Bid lines in different colors in high and low spread Compatible with a money management EA (you can buy it separat
The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
Pipfinite creates unique, high quality and affordable trading tools.
Our tools may or may not work for you, so we strongly suggest to try the Demo Version for MT4 first. Please test the indicator prior to purchasing to determine if it works for you.
We want your good reviews, so hurry up and test it for free...we hope you will find it useful.
Breakout Analyzer with Volume Critical
Strategy: Enter confirmed reversal setups Watch Video: (Click Here)Breakout Analyzer with Strength
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention
The most profitable trend traders are the ones who know how to recognize not only the market trend, but also the trading opportunities that arise once a trend has been established. The Pz Trend Trading indicator has been designed to profit has much as possible from trends taking place in the maket.
Established trends offer dozens of trading opportunities, but most trend trading indicators neglect them completely, and leave the trader completely uninformed about what the market is doing during a
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
Market Profile defines a number of day types that can help the trader to determine market behaviour. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade. It is an excellent addition to any system you may be using.
Blahtech Limited presents their Market Profile indicator for the MetaTrader community. Inspired by Jim Dalton’s
Virtual TrailingStop is an Expert Advisor that manages trailing stop without sending its information to the broker server.
EnableVirtualTrailingStop: enable or disable whole function VirtualTrailingStop: the pip use for determine how far the Virtual Trailing Stop will placed calculated from current price StartFromBreakEven: true/false. If true, Virtual Trailing Stop will placed after breakeven BreakEvenPoint: point profit from order open price where the Virtual T
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
The indicator determines the inside bar and marks its High/Low. It is plotted based on the closed candles (does not redraw). The identified inside bar can be displayed on the smaller periods. You may set a higher period (to search for the inside bar) and analyze on a smaller one. Also you can see the levels for Mother bar.
Period to find Inside Bar — the period to search for the inside bar. If a specific period is set, the search will be performed in that period. Al
The indicator represents an additional chart window with a lower time frame where bars are combined into groups that are equivalent in time to main chart time frame. Bars are synchronized by the right hand side of the window, i.e. the time of the last bar in the main window corresponds to the time of the last bar group in the additional window. The maximum number of groups is 16; the maximum number of bars combined into groups in the additional window is 256. Limitations on the numbers are requi
MetaCOT 2 is a set of indicators and specialized utilities for the analysis of the U.S. Commodity Futures Trading Commission reports. Thanks to the reports issued by the Commission, it is possible to analyze the size and direction of the positions of the major market participants, which brings the long-term price prediction accuracy to a new higher-quality level, inaccessible to most traders.
These indicators, related to the fundamental analysis, can also be used as an effective long-term filte
The indicator displays economic news on the currency chart (the appropriate data must be downloaded from the Internet - please see the download instructions on the screenshots provided). The list of currencies (countries) is customizable. By default it shows all currencies. The main parameters come with a built-in description. In addition, there are parameters for advanced users. News items are divided into 3 categories by degree of importance. There is a great flexibility in display parameter s
Averager is intended for averaging your deals that has had a drawdown or had gone against the trend.
An example of operation of the averager in an Exeprt Advisor in the MetaTrader 5 terminal: Exp - TickSniper. The system is identical to the averaging system created for MetaTrader 4. A demo version of the averager for MetaTrader 5: Averager DEMO.Note: this is not an automated trading system (the EA doesn't work in the strategy tester). It monitors your deals and averages them in case o
The Trade Manager Pro EA is a MetaTrader Expert Advisor that performs position management for you avoiding human errors and enhancing your trading activity.
Amazingly easy to use Trade easily from the chart Trade with precise risk management, hassle free Capital preservation is top priority Let profits run without your attention Enjoy risk-free trades as soon as possible Automatic trailing stops for all opened trades Initial stop losses are placed as soon as trades are
The Heiken Ashi indicator drawn using a tick chart. It draws synthetic candlesticks that contain a definite number of ticks.
option prices - price option. It can be Bid, Ask or (Ask+Bid)/2. the number of ticks to identify Bar - number of ticks that form candlesticks. price levels count - number of displayed price levels (no levels are displayed if set to 0 or a lower value). calculated bar - number of bars on the chart.Buffer indexes: 0 - OPEN, 1 - HIGH, 2 - LOW, 3 - CLOSE.
Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher proba
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
Trade Copier Pro is a powerful tool to copy trade remotely between multiple accounts at different locations over internet. This is an ideal solution for signal provider, who want to share his trade with the others globally on his own rules. One provider can copy trades to multiple receivers and one receiver can get trade from multiple providers as well. The provider can even set the subscription expiry for each receiver, so that receiver will not be able to receive the signal after that
The script creates account summary report in a separate window.
The report can be created for all deals and on deals for selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The script creates account summary report in a separate window.
The report can be created for all deals and for deals of the selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The Expert Advisor implements the classic "triangular arbitrage", which is successfully used by hedge funds.
"Triangular" arbitrage refers to a class of neutral-market strategies, in which the profit or loss of open positions does not depend on the direction of the market movement as a whole.
In order to take profit, the EA exploits a weak spot of market makers - it utilizes the difficulty of balancing cross rates of all currency pairs.
The advantages of the strategy are the following:
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention Buttons for re
COSMOS4U Volume indicator facilitates your trade decisions. It gives confirmation of the running movement and market trends. It highlights current and past accumulation and distribution volumes, comparing them to moving average volume and the highest volume. In addition, it identifies and marks nuances as well as convergence and divergence patterns of bears and bulls in order to provide the market trend and price ranges.
The supported features are as follows:
Fast Volume Moving Average Slow
A script for opening a grid of orders
If you need to quickly open several pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) on a certain distance from the current price, this script will do all the routine for you! Allow AutoTrading before running the script.
Run the script on a chart.
Language of messages displayed (EN, RU, DE, FR, ES) - language of the output messages (English, Russian, German, French, Spanish). Price for open - open price. If set to
Auto Trade Driver is an automatic powerful tool (run as Expert Advisor) that helps you to manage risk and control orders and maximize your profit in multi-protect/trailing-stop rules.
This tool is very useful for both scalpers and trend followers. It not only calculates the trade risk exactly, but also protects and maximizes your profits in real-time.
With this tool, the only thing you have to do is to enter trade by your own strategy, then it will auto-drive your position with exit strategy y
MACD All MAs-14 is a MACD indicator that allows choosing usual parameters of the standard MACD (constructed from EMA) as well as the type of the moving average to be applied: up to 14 different types.
You can select 9 standard MAs available in MetaTrader 5 - SMA, EMA, SMMA, LWMA, DEMA, TEMA, Frama, VIDYA, AMA, TRIX, and 4 non-standard - LRMA, HMA, JMA, AFIRMA.
Method MA - select the type of moving average to be displayed in the current graph. Period slow MA - the number
Auto Trade Copier is designed to copy trades between multi MetaTrader 5 accounts/terminals with 100% accuracy.
With this tool, you can act as either a provider (source) or a receiver (destination). All trading actions will be copied from the provider to the receiver with no delay.
Note: Demo version for testing can be downloaded at: https://www.mql5.com/en/market/product/5006.
Followings are highlight features:
Switch between Provider or Receiver role within one tool.One provider can copy tr
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news rel
We present you an effective software solution for arbitrage between brokers.
The Arbitrage on the market became widespread due to decentralization. There are many liquidity providers, whose quotes differ for various reasons. By tracking the dynamics of changes in the quotes of different brokers, it is possible to determine the delayed and leading brokers, thereby predicting the future prices of the delayed broker for a short time. Knowing these prices and using efficient built-in software filte
SDC: If thats the case why is it, the so called experts on the regular forums, the ones who claim to have been at this for years always say the same things, find a strategy make your rules and stick to them.
Another myth. Jump into any location with manual traders and you'll get the same sad story. "I've been trading for 5-years; the first 3 I lost my pants off". And usually you have to ask them in a direct and honest way for them to admit it. People don't like talking about their losses and if traders are anything like professional blackjack players then they also exaggerate their wins. I'm not saying everyone should run around telling everybody else how much money they've won or loss. But if you're going to give advice to newbies then be open.
I observed some manual traders at work. They place a trade, watch to see if price goes into their favor or not. 5-minutes later, bob shouts "humm... I don't like the slowness of EU, I'm getting out +5 pips". Then bob turns to me and go, I always look for a 2:1 profit to loss ratio and never risk more than 2% of my equity. And I sit there thinking, so Bob were you risking 2.5 pips on that last trade.... I'm listening to these guys for hours going +7, Break-Even, +20, +10. But very, very rarely did I hear -1. So, at one point I had to ask, seems like everyone in here is winning ... so much for 99% losers in forex.
If anyone tells you that if you were manually trading 2 years ago then you would have been a winning trader just smile. Manual traders think when you say EA (they like to call it Robots) then you don't know how to trade manually. Six months after I started, I toke Phillips advice and traded Manually for about 6-Months. What I got from that experience is what I expected to get from that experience. Staring at chats for hours, looking for trade setups, constant bombardment from different factors, like News, Slow Moving Markets, Fast Moving Markets, etc. You're constantly asking yourself should I do-this or should I do-that even tho it wasn't part of the plan.
No one ever said that EAs take the Emotions out of trading but some Manual Traders like to jump on this against EAs. The EA trader would always Reserve the Right to pull the plug on the EA. This could be a double edge sword as people change systems or EAs often. Most people wouldn't admit this to themselves but 20% drawdown makes the average person sweat and abandon the system. The lessons I've learned watching Back-Tests are far more advanced than anything Manual trading could have ever done for me. Manual trading with real money could have only taught me how to let the Ice waters flow through my veins, something BJ already done a good job teaching me.
When I observed those manual traders, I played little games with them... I say something like anyone wanna guess where EU would go and how far? And mostly I was correct. They started to label me as someone who always had the need to be correct. And non-real money guesses mean nothing. If only they knew lol. Sometimes I say something like I know Weekend Gaps closes 95% of the time and thats why I guessed that it would close however It wasn't a sure thing.
Sure I've developed a Sixth Sense about where and how far the market would go within near future but I rather be in a location with lemonade and people than sitting in my home office all day doing something an EA could do without all the second guessing.
I was responding to the OP question which was does anyone here have an EA that produces consistant profits, I did not speak for anyone else I gave him an honest answer based on my own attempts to create such an EA.
Your comments and rhetorical questions in response to that are at best unhelpful, and for the most part, pointless.
I hope you did. It's pointless, unhelpful to go into "zero sum game", "wasting 2 years", then why so and so experts mention this, that, etc, losing $ on manual, etc, etc.
The audience of this thread, forum, and esp. to the OP, may consider your advice, i.e.
as extremely unhelpful, needless just another personal affair of some stranger that thinks he is all correct.
Consistent EA Profits? Yes, Possible. How? The way to it, as I see, and as I explained, and as I countered, is also what being echoed by this poster:
manual trading ideas I have tested on live accounts and know them to
work either ok, med or good enough for me to be satisfied
That's the place to start - then code can begin
Place to start: Manual Trading Ideas, on live.
If its profitable, or as I suggest even breakeven, "then code can begin". It cant be any simpler than this. Don't complicate things, even if the market is not complicated enough.
People don't wish to toy and tinker with any robots all their lives. Traders, want to USE (rather than HOPE) technology to leverage strategy further in returns, and be confident that the automation does exactly what they wish for. And the expectation is, It should return higher than manual.
Thats MetaQuotes business as usual. That's the traders business as usual.
I wonder what is YOURS.
@diostar your trollish posts are getting rather tiresome.
@Ubzen I agree with everything you said I have been there manual trading myself before I even considered learning mql4 and creating robots, I have also spent time with other manual traders and have usually been left with the feeling you get when you stand at the craps table with a bunch of guys shooting dice, some win some lose, those who win think it is because they play craps better then those who lost, when in all reality they just got lucky for a while.
While manual trading with different strategies I realized quite early on, I was playing in the dark, is the strategy I'm using losing money this month just because this is not a good month and will it be better next month and will it overall be profitable ? It was that simple question that led me to learn mql4 to write the strategy into an EA and test it over chart history to see if it could have been profitable, obviously it wasnt and tanked over the previous years chart history, so then I set about testing other strategies, some I read about, some described by self styled forex gurus on some of the well known forex forums, I tested them, one after another drainer after drainer, so yes your right, when people say if I had been manual trading for the past two years I would have been a winning trader, I should smile, because had I been manual trading any of the strategies I thought were good when I coded them into an EA I would probably be broke by now.
Over what period? Any strategy will have phases of better or worse results, the trick is assessing suitability as part of the system (whether manual or coded), see topic here
@SDC: Yep, and you would have lost money and formed Bad-Habits which would be harder to undo in the future. I have absolutely nothing against Manual Traders but I hate it whenever they go EA bashing. Just because you purchased a $199 EA which didn't work out doesn't make it all bad apples. I agree with BB's comment that one should start with manual strategy. This is the same advice Gordon give me. You look at the charts Manually scan for strategy's which makes sense. You code them into an EA. When you test it, it should be Profitable the First time around without using the Optimizer. Ok, for those who have manual strategies, go ahead and take the challenge. Code it and run it for 2011 and see if it's even profitable. Then if you feel like you can really handle the truth, go year by year backwards testing it.
If someone tell me, "I don't have the skills to code my manual strategy into an EA" I'd understand. But most of the manual trader who want to remain in the dark about their strategy use the excuse "The computer cannot do what the Human Being can". Yea? like what? Change your mind at the seat of your pants? I'm not saying computers can do everything, but you'd be hard pressed to get someone to say what a computer cannot do without going into Emotions.
Some on here claims people can start with
Bank Accounts and make something substantial within their life time. I'm not saying this is impossible, but this same person should not try to lecture me about 30% returns annually, 2% risk per-trade, 5% returns monthly because the math don't add up. This person probably toke on substantial risks earlier on to built their account and now they trade differently or this person don't know how much a Piggy holds.
As I read a lot of these posts I come up with same question all the time.
Did anyone bother to read the posters question: (((((Does anyone have an EA that produces CONSISTENT profits?)))) or do they just like to hear themselves talk.
Not that but there wasn't some good advise there but that's not what he asked!
This is comical. How'd you drag a 5 year old post from the dead? Is it haunting you?
You need one of two things or preferably both. An active interest in programming and enjoying a challenge and or natural aptitude.
If your chasing the money rather than actually enjoying learning and the challenge then what would the probability be of success?
I dont think MQL language makes it easy, it hardly comes shipped with the latest statistic libraries or genetic algorithms but then why would they?
If you read a closely someone has answered your question, anyone with above average capabilities won't be sitting around forums bragging about their latest and greatest, they'll probably be sitting with their feet up somewhere sunny.
I barely know anything about the forex but its not rocket science to notice that volume is partially sinusoidal. Mix it up with some markov analyses if you wish.
Money doesnt grow on tree's, banks dont have branches and it's unlikely anyone knows how to catch autumn leaves.