@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.
The indicator analyzes the internal averaged price channel on the specified border moving beyond the external cumulative one depending on the direction of current conventional trend, and at the same time the second price channel on the specified border moving beyond the extremums (or specified price modes) of the previous bar. A special case of the setting of this indicator is a well-known Ozymandias. The direction of the current conventional trend is displayed by a line, and the trend change (
Easy Order is an Expert Advisor allowing you to enter any type of trade with one click based on your RISK preferences.
You can choose to enter a trade and automatically calculate your lot size based on how much of your account you want to risk. Risk is calculated based on your Stop Loss placement. You can use a fixed lot size if you don't want to use risk based calculation of lot size. Your previous setting of risk based or fixed lot size remains saved for your next use of this Expert Advi
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 shows the relative "strength explosion" of a selected currency. An additional "limiting" channel is used for filtering the indicator values.
VolatilityPeriod - period to analyze currency volatility, MainPrice - price used for calculation main values of the indicator, FastPeriod - fast period for calculation, FastMethod - method of smoothing of the fast line, SlowPeriod - slow period for calculation, SlowMethod - method of smoothing of the slow line, SmoothingPeriod - resul
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
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
This script help user record the value of Moving Average and OHLC at the moment once deals happen.
The datas save as .CSV format file so you can quantitative analysis someone's trading.
Please input value of MA's parameters you like. It tells you the path of data file when script is stopped.
The indicator has standard settings. The new modification of indicator provides special marking of the segment when the moving averages begin to form a cross in one direction or another. The Alligator`s cross indicates that the trend is about to change. Modified Alligator helps traders to determine a trend on a particular timeframe even if the averages are intertwined and have a shift in the future. Direction of a trend is determined by a cross of the averages with a specified marking area on th
This unique indicator detects reversal signals using price action and volume algorithm. It has also the ability to predict reversal power using the probability of past price movement and past volume analyzed.
To achieve more accurate trading, please use this tool in addition or support to the system you are using. This tool will perform better if combined with the right strategy.
To further boost the efficiency of this tool, you can combine this with FxGlow Zone Barr
This trading panel has been developed for fast and comfortable operation of the financial markets. It is equipped with the necessary functions for manual and semi-automated trading. Due to the presence of the order trailing feature, trailing stop and automatic closure by equity, profit, time. You can use it to automate your trading system. All you have to do is open a position and set the parameters for maintenance, everything else will be handled by the EA. If you want to limit your losses, set
Purpose and functions of the indicator
The indicator determines and marks the moments of trend change on a chart based on the theory of fractal levels breakdown on any time frames. If a breakdown based on all rules is real, the horizontal lines will appear on the chart with corresponding color. If there is an up trend, the line will be blue. In the descending trend the line will be red. The blue line is a strong support level, the trader should look for buying opportunities above this line. The
Trading Sessions Pro is a trading session indicator with extended settings + the ability to install and display the custom period.
Download the demo version to try the indicator's functionality.
The indicator allows you to conveniently manage display of trading sessions on the chart. There is no need to enter the settings each time. Just click the necessary trading session in the lower window and it is highlighted by the rectangle on the chart! The indicator has two modes o
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
The OandaX product series is designed to display additional data on orders and positions provided by the Oanda FxLabs service.
The OandaX Download Manager EA is included in the OandaX product series and is designed to download data for all OandaX indicators running in the terminal.
To test your trading strategies and for historical data analysis, you can use free OandaX 5 Download Manager BETA. It is similar to Download Manager but provides data with a delay for a day.
Note. The EA uses WebRe
Find double top and double bottom reversal chart patterns easily with this indicator.
Easy to use Customizable colors and sizes It implements breakout signals It implements alerts of all kinds
Indicator Settings - The amplitude represents the size of the patterns to be found. The max. history bars parameter is the amount of bars in the chart to look back.
Less bars to evaluate means the indicator will load faster. Patterns - Choose the colors of the patt
This is a half scalping system that analyzes the market using a transmission function. The system can be scalping or not depending on the "takeprofit" and "stoploss" parameters.
This Expert Advisor is intended for trading on EURUSD, however it can work on other currency pairs. You should use timeframe M1 for trading.
You should optimize only two parameters: Seconds_to_move and TradePrice. It is sufficient to optimize Bobra Adept only once, for example, for a half year period. After that, Bobra
The Synchronized Charts script allows comparing bars of different symbols or different periods of the same symbol.
Attach the script to a chart and move bars or change the scale, all opened chart will move synchronously with the current one. The bars on different charts aligned to the border according to their open time.
Chart Overlay indicator displays the price action of several instruments on the same chart allowing you to evaluate how differently currency pairs fluctuate relative to each other.
Find overbought or oversold currency pairs easily Plot up to 6 currency pairs overlayed on the same chart Display inverted symbols -if you want to- Adapts to chart size, zoom and timeframe Symbols can be plotted as bars or line charts The size of the overlay chart is customizable Automatic price
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
The Expert Advisor for increasing (or opening) market positions.
Allows specifying the desired risk, target and searching for the best open price and trade volume.
It is included in the ActivePanel product.
Displays divergence for any custom indicator. You just need to specify the name of an indicator name; on default it uses CCI.
In addition you can set smoothing for the selected indicator as well as levels. If one of these levels is crossed, you'll receive a notification. The custom indicator must be compiled (a file with extension EX5) and it must be located in MQL5/Indicators directory of the client terminal or in one of its subdirectories. It uses zero bar of the selected indicator with defau
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
The indicator is based on the comparison of the correlation of trading instruments following an original algorithm. It determines the difference between correlated contracts (delta). The greater the difference, the more it is likely that this Delta will return to zero.
More suited to the FORTS market.
The greater the deviation from zero, the more it is likely that the price will return to zero. Also, the indicator divergence can be applied by comparing highs and lows.
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 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 marke
Another breakthrough. Using the legendary BBSO range trading module the no 1 ROBOT AND THE AMAZING SPEED OF METATRADER 5, this scalper generates a lot of quick trades in and out using the strongest point of BBSO the ENTRY.
Self-optimizes in seconds ANY Pair on any timeframe (always check with Olivier Nomblot for current settings and pairs).
No special CPU needs or fast internet connections or set files or strategies or complicated parameters. Adapts to your broker... just drag on your screen.
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
FX Power is the first real time currency strength meter with a real time histogram.
Run FX Power to analyze and record the momentum and strength of all major currencies.
Use the FX Power histogram to determine efficient currency strength combinations and patterns.
Key Features of FX Power
Real time market strength of all major currencies Identical calculation results at all brokers and charts 100% reliable real time calculations -> no repainting Selectable t
This indicator calculates (Hourly, Daily, Weekly, Monthly) pivot point, support and resistance price with different formulation (Classic, Camarilla, Woodie, DeMark, Floor, Fibonacci) and then adds lines on the chart. Line color and style can be changed with input parameters.
And you can choose alert type (Alarm activated when price reach any pivot price)
1. Calculation Method Option (Method = Classic, Camarilla, Woodie, DeMark, Floor and Fibonacci)
Range = High Price(HP) –
Active Lines - a powerful professional tool for operations with lines on charts. Active Lines provides a wide range of actions for events when the price crosses lines. For example: notify, open/modify/close a position, place/remove pending orders. With Active Lines you can assign several tasks to one line, for each of which you can set individual trigger conditions, as well as conditions for re-activations and the number of possible activations.
Active Lines helps you easily organize various tr
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.