@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.
Three variables are available for every strategy, any one of them can be disabled, their period can be changed.
type_order=ORDER_FILLING _FOK - order filling type.
ReverseTrade=false — trades opens in reverse direction if true. ExitOnBar=true — trades close on each bar only. spreadcover=false — Spread you pay includes in profit trades. It's like trade with zero spread but you should remember that it can decrease exact match between tester's result and live one. It
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
Create your own list of trading instruments Watch list* and combine it with several open charts Link **.
Using this program, a user can create fully-fledged Watch lists, create and delete trading instruments and move through the list.
A selected symbol shows charts in linked windows. Linked windows can have different periods, indicators, experts, trading panels, etc...
Moving through his/her Watch list, a trader an see the full image of his/her strategy in all windows.
A lot of traders use 1
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
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
Fast Copy MT5 allows you 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
MT4 → MT5 MT4 → MT4 MT5 → MT5 MT5 → MT4
* For the MetaTrader 4 terminal — Fast Copy MT4
* For the MetaTrader 5 terminal — Fast Copy MT5
** Before the purchase, you can test the program by downloading the free demo versions — Fast
The main purpose of the indicator is to determine and mark trade signals on the histogram of the Accelerator Oscillator, which were described by Bill Williams in his book "New Trading Dimensions". The list of signals:
The buy signal when the indicator histogram is below the zero line. The sell signal when the indicator histogram is below the zero line.The sell signal when the indicator histogram is above the zero line. The buy signal when the indicator histogram is above the zero line. The
Does not support openning multiple 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 Butt
This indicator is based on Bollinger Bands indicator. It helps user clearly know the Band is expand or contract.
Robust median Renko style indicator for creating custom charts resembling Median Renko, Mean Renko, Turbo Renko and Better Renko candles as well as vanilla Renko with wicks plus PointO charts. This all in one package provides all of the signals needed by day traders, scalpers and even long term traders.
The indicator is an overlay on the main chart so it is possible to utilize one-click trading and order manipulation directly on the custom charts. Visual order placement is a
This indicator extracts a trend from a price series and forecasts its further development. Algorithm is based on modern technique of Singular Spectral Analysis (SSA). SSA is used for extracting the main components (trend, seasonal and wave fluctuations), smoothing and eliminating noise. Does not require the series to be stationary, as well as the information on presence of periodic components and their periods. It can be applied both to price series and to the data of other indicators.
This panel represents a demo account for binary options. It will catch an interest of those who start working with binary options and want to practice on a demo account. It will also spark an interest of those who use Meta Trader 5 to get signals for binary options. You can test any strategy using this panel. It supports any currencies available in your terminal. The panel is also very compact, and you can move it to any spot on your chart window.
Now you do not need to look for a broker with a
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
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
FULL Automatic is a fully autonomous trading robot for MetaТrader 5 without configurable parameters.
It is similar to SAFE Automatic robot intended for traders having no knowledge of trading basics. It works in Low, Medium, High and Extremal trading modes.
The EA applies modified versions of well-known strategies, including Elliott waves, following a trend, half-pyramiding, scalping, speculative trading with a double deposit protection. The EA switches the strategies automati
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
All traders using VSA realize the importance of the volume. Unfortunately, tick and spot volumes are not suitable for these purposes.
I have conducted mathematical calculations and managed to trnsform the price into the volume that is close to the futures one by its ratios. Now, you do not have to wrestle with the question of where to obtain the volume data. Besides, you will be able to use the currency pairs having no futures at all. With RealVolume, you do not need to remember data on each ti
How to use Pair Trading Station
Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal.
When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency
The main purpose of the indicator is to detect and mark trade signals on the histogram of the Awesome Oscillator according to the strategies "Trading Chaos, second edition" and "New Trading Dimensions".
The indicator detects and marks the following trade signals:
"Two peaks" - Divergence. The signal "Second wise-man" - third consequent bar of the Awesome Oscillator after its color is changed. The histogram crosses the zero line. The signal "Saucer".The indicator includes a signal block th
This is an unusual (visual) representation of the famous WPR indicator. Instead of a separate subwindow, it is displayed in the main chart as a channel and levels.
The next version of the indicator will have a possibility of smoothing its values using a moving average.
PeriodWPR - calculation period of the percent price channel LevelUp - the value of the upper level in percentage (negative) LevelDn - the value of the lower level in percentage (negative) Center - the value of t
The indicator is designed for easy construction of synthetic charts based on data of various financial instruments. It will be useful both arbitrage and pair trading, as well as for analysis purposes. Its main advantage is simplicity and clarity. Each chart is given as a common mathematical formula. For example, if you want to plot the spread (difference) between EURUSD and GBPUSD with coefficients 4 and 3, then set the following formula:
EURUSD * 4 - GBPUSD * 3
The resulting chart is shown in
Trade Controller provides multiple methods to protect and maximize your profits. This powerful weapon helps you to set the protect and trailing-stop rules on your trade automatically in many effective methods. Once it is set and turned on, you don't need to monitor your orders anymore, the software will keep watching and control your orders with your predefined rules.
It's designed to support multi-protection and trailing strategy: Protect by break-even, protect by percentage, protect by pip, p
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
Does not support openning multiple 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
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, and, as a consequence, tick volume is smaller.
In this case, when big amount of requests appear on the market, price changes happen more often. Big tick volume appears. Tick volume is an important indicator of trad
This is an open interest indicator for MetaTrader 5. It fixes open interest value once per minute and writes it to the file (on your PC). The product works on any timeframe but only with exchange instruments.
Reverse TradeCopier Follow can copy trades from an account that is running Reverse TradeCopier Source.
Copies trades from one source (master) account to multiple following (slave) accounts. Allows investor (read only) password for source (master) account. There are no complicated settings and input parameters, everything is easy. Works with different brokers. Works with different quotes symbols (EURUSD_FX, eurusd_m, etc.). Can copy orders from 4-digit quotes platform to 5-dig
This is the Famous Timing Indicator
You can now use the most famous Timing indicator on the planet.
Millionaire Mostafa Belkhayate earned his reputation by using this specific indicator to validate the entry signals supplied by his also famous Center of Gravity indicator on the Forex market. I spent hours, days, weeks to decrypt the formula and now it is finally available to you.
New and Unique for MetaTrader 5
Timing will give you perfect validations for your entry signals. It is the first
Monitoring and Trend Analysis
This product shows the trend strength levels based on 16 standard indicators, time periods and currency groups.
Depending on the current trend, the indicator colors change from green to red, allowing you to see the full picture.
Whatever your trading method and strategy are, you should always know, in which direction you are trading and what the probability of the trend change is. This indicator will help you answer these questions by calculating the
Cluster analysis of volumes is now available in MetaTrader 5!
The YuСlusters indicator is a professional tool for analyzing the trading volumes. The cluster graph is plotted based on tick data. For the exchange financial instruments these are the volume, type and price of a deal. For the Forex instruments - the real or tick volume (depending on the broker) and Bid price.
There are 6 criteria of cluster generation:
Time interval, the criterion is set in seconds. Price range, the criteri
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.