@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.
Informer for VPS - report on the state of your account via e-mail. Useful for controlling your Expert Advisors that run on a VPS or a dedicated computer. Information about open positions and last deals for a day, week, month or year grouped by currency pairs.
Adjustable periodicity of reports and depth of deals included in the report. A possibility to add own comment to each report. You will receive reports on e-mail with specified periodicity: from 15 minutes to once a day. The reports are se
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.
Exit Signals are NOT to be used in entering a trade!
Exit means closing your trades to avoid correction/reversal which can wipe out existing
Times & Sales is a famous (and old!) trading tool. However, it is not present in MetaTrader 5 as a built-in tool.
DeltaTrader now presents this indicator for MetaTrader! It has the following characteristics:
Two flag modes: FOREX and EXCHANGE
FOREX: black color: last price = 1-Minute opening price / blue color: last price < 1-Minute opening price / green color: last price > 1-Minute opening price. EXCHANGE: black color: last price = between quotes / blue color: last price = bid price / gre
Fast Copy MT5 allows to copy trades between different MetaTrader 5 (netting)(hedge) and MetaTrader 4 accounts in any direction and amount, quickly and easily (without loading the system).
Any type of copying is available
MT5 —> MT5 MT5 —> MT4 MT4 —> MT5 MT4 —> MT4
* For any interaction with the MT4, it is necessary to additionally install Fast Copy MT4
One tool for sending and receiving transactions: [master] > [slave] operation mode can be selected in
The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency.
The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. In a
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.
Trading Chaos Expert Lite is a light version of Trading Chaos Expert. In the Lite version it is not possible to receive the table of trading signals, automatically place pending orders based on them and maintain open positions for multiple symbols at the same time in one window. Only the Current Chart mode is available. In all other features the panel is fully consistent with the basic version of the Expert Advisor.
This is, rather, a well thought out trader's assistant which is not easy to do
The Expert Advisor uses the strategy of trading the Fibonacci levels. As the basis for placing a grid, the EA uses the ZigZag indicator (included in the standard MetaTrader delivery).
First, the EA determines the trend direction. To do that, according to the Dow theory, it uses the last two Highs and last two Lows of the ZigZag.
If the last High is higher than the previous and the last Low is higher than the previous, the EA considers the trend to be ascending. If the last High is lower
This is an extended version of Heiken Ashi indicator with the ability to average (smooth) the values for the specified period of bars and select the applied price: considering "Open price" or not. The description is provided in the parameters. Three screenshots are displayed below: standard version (1 bar), 3 bars and 5 bars.
МetaTrader 4 version: https://www.mql5.com/en/market/product/7326
The economic calendar is made in the form of an Expert Advisor that downloads the data from one of the most popular Forex sites (forexfactory.com/calendar.php). The data is presented in two ways. The first (primary) is represented as icons with detailed information about the event. The second is displayed as a line with a news description. Economic Calendar downloads published news in real mode with the possibility to adjust the spacing of data validation and user-friendly customizable graphical
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
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 robot does not trade at night from 10 p.m. to 4 a.m. (server time).
The robot was tested in the special tester on real ticks. Empirical e
qAutoActivation indicator is one of the main components of Trading Chaos Expert trading expert panel. The indicator displays the current trend on the current timeframe. This is the first indicator that is attached to the chart and saved in the trading complex template. It defines what trading signals from the expert panel should be automated for market entry (bullish or bearish ones).
When the trend changes, the indicator changes the line color and, at the same time, highlights the trading pane
The indicator plots horizontal support and resistance levels using grouping of extrema. The levels are displayed as lines whose color depends on how many times the level was a support or resistance line over the specified interval. You can also display counters for support, resistance and age of the level in text format. The age of the level indicates how many bars back the level had the most recent impact on the price (on the chart time frame as specified in the settings). Given the age of the
Percent Crosshair is a powerful and easy percentage measure tool.
Measure the chart percentage very quick! Don't waste your time anymore!
Just attach the Percent Crosshair indicator in the chart, select crosshair mode at toolbars or press "Ctrl+F" and start using the crosshair as you always do! The percent measure will be next to the indicative price.
Customize your indicator the way you want!
There are 4 entry parameters:
Positive % color: set the desired color when % is positive. Negat
The trade strategy is based on three moving averages. To determine the trend, it uses three exponentially smoothed moving averages: FastEMA, MediumEMA and SlowEMA.
Buy signal: FastEMA>MediumEMA>SlowEMA (upward trend).Sell signal: FastEMA<MediumEMA<SlowEMA (downward trend).Input parameters:
Inp_Signal_ThreeEMA_FastPeriod = 8;Inp_Signal_ThreeEMA_MediumPeriod = 38;Inp_Signal_ThreeEMA_SlowPeriod = 48;Inp_Signal_ThreeEMA_StopLoss = 400;Inp_Signal_ThreeEMA_TakeProfit = 900;Inp_Money
The PZ Day Trading indicator detects reversals in a zig-zag fashion, without repainting or backpainting. Based on breakouts of variable lengths, the indicator uses only price action to pick trades and reacts to the market very fast. The positional accuracy of its signals offers huge opportunity for profits, easily up to 80% winners.
Amazingly easy to tradeChart statistics will help you to optimize your tradingIt works on every single timeframe without fine tuningThe indicator analyzes its own q
This product is similar to Tick volume analizer Expert Advisor, however it is implemented as an indicator. Release of this product is stipulated by the fact, that it is not possible to run two EAs in the same window.
Tick volume is equal to amount of ticks at the unit of time. There is direct correlation between tick volume and real amount of deals. Every change of the price is a result of a real request to perform a deal. Consequently, fewer requests we have, the less price changes we get, an
VirtualTradePad - is a contol panel for working with orders in МetaТrader 5 : buy, sell, buystop, buylimit, sellstop, selllimit, close, delete, modify, tralling stop.
VirtualTradePad won 2nd prize in the "Best Control Panel in the MQL5 Language" Contest.
The panel consists of 5 tabs.
VirtualTradePad PositionsStyle VirtualTradePad Ordersstyle VirtualTradePad SignalsStyleDemo version of the panel - VirtualTradePad LiteProfit or Loss PadINFO PadYou can also try this panel for
ROMAN5 Bollinger Bands TrailingStop includes BreakEven facility. TrailingStop automatically moves the Stop Loss with the Bollinger Bands level. You can place ROMAN5 Bollinger Bands TrailingStop in any chart. It comes with an alert that will sound whenever a new signal appears. It also features an email facility. Your email address and SMTP Server settings should be specified in the settings window of the "Mailbox" tab in your MetaTrader 5.
Bollinger Bands Parameters:
BB Period - The averagin
This is a panel for controlling the profit/loss in dollars, pips or % of balance. A new function for trailing profits has been implemented.
The panel can be used as a virtual Stop Loss or Take Profit.
It also features the emergency button - CLOSE ALL.
You can also try the full version of the VirtualTradePad for mt5 panel, as well as the Profit or Loss for mt4 panel
Other versions in this collection:
VirtualTradePad for mt5 Digit Market Time Pad Market Time Pad Scalper PadMain f
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 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
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
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
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
This is an utility for automatic scaling of a chart and making at least 140 bars visible in it. This is necessary for a correct wave analysis according to the Bill Williams' strategy "Trading Chaos". The utility can be used on any timeframe available in МetaТrader 5.
It draws a vertical line through the first bar the calculation starts from. This line allows you to see the probable starting point of the wave sequence along with a sufficient number of bars displayed in the chart. It also makes t
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
The indicator calculates the quantum frequencies using the current market data. The quantum frequencies are used in Spectrum analysis of automated trading systems to create quantum filters for selecting signals, i.e. skipping trades that are likely to be unprofitable.
How It Works
It analyses the trade results of automated trading system for each frequency (512 frequencies are used). Calculation of the frequency response to search for "profitable" and "unprofitable" f
The indicator determines and marks the short-term lows and highs of the market on the chart according to Larry Williams` book "Long-term secrets to short-term trading".
"Any time there is a daily low with higher lows on both sides of it, that low will be a short-term low. We know this because a study of market action will show that prices descended in the low day, then failed to make a new low, and thus turned up, marking that ultimate low as a short-term point. A short-term market high is just
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.