It is how my Metatrader looks like:
Do you see this indicator on the chart?
I am trading within trading hours only according to this indicator. According to my trading hours I can trade EURUSD, USDCHF, sometimes USDJPY and, depends on the market condition - GBPUSD.
If you are living with the other timezone than me so you can set this indicator to your working hours. For example if you will trade on GMT night o you can trade USDJPY, AUDUSD and USDCAD.
I am using this news indicator from this thread https://www.mql5.com/en/forum/177102
But as I do not like many indicators on the chart and many colored likes on the chart so I am using separated metatrader for it. But you can use forex news indicator on the same chart with BrainTrading M30 for example.
It is some image with some rules. Besides you will see big candle on the image and it was high impacted news event (stop loss in -30 or -40 pips because of that). So, follow forex news.
Pairs: GBPJPY, GBPCHF, EURJPY and CADJPY (and some more).
It is very risky pairs to trade. You may have good pofit. Look at the image with the trade of about +200 pips in proft. Just one trade!
But we can lose a lot. So I am not trading those pairs.
I should have big deposit, or I should have enough time to analyze everything, or I should be professional with trading (to trade those pairs).
Sometimes I am not trading some pair. I open the chart and understand that it is not my week this week: I will not trade this pair. How can I understand it? You will see it if you open the chart and will not find any objective laws about what you see on the chart by indicators. You can open the chart with Ichimoku indicator (D1 and W1 timeframes) and if price is inside Ichimoku cloud so it is better not to trade this pair this week.
Few weeks ago it was for GBPUSD. Now - for EURUSD.
Thanks for this info. Keep it up the good job you have. I've learned a lot from your posted. Anyway,thanks for all the info you sharing here,may God Bless you.
This morning I try to find out the gray color background color is stand for what purpose, but I totally catch no ball
NumberOfDays : anynumber ?
Begin_1 : (trading hour begin?)
End_1 : (trading hour end?)
Begin_2 : ?
End_2 : ?
HighRange : false
Gray color means trading time?
why the begin/end_2 time is still within Begin/end_1 ?
from you preferred currency pair, could you advise few currency pair that good for me to try accroding to my time zone and trading time (GMT +8.00 7pm to 12am)
and, I saw 3 color (blue, ocean blue and green) at horizontal time scale there, could you explain little bit for that..?
sorry, cause this is quite different compare with the original brain trading system, hope can know more from this, thanks
You are talking about 2 indicators which I am using with this system. Those 2 indicators came from Paramon scalping system from here https://www.mql5.com/en/forum/173317
First indicator is i-ParamonWorkTime created by KimIV (Paramon did not use any indicators so KimIV created it just for other people).
It is how it looks like with default settings:
And it is default settings of this i-ParamonWorkTime indicator:
As you see Paramon traded at 08 - 11 and 14-17.
I am simple using this indicator. It is my settings in BrainTrading M30:
By the way you can use other indicator from this thread https://www.mql5.com/en/forum/general instead of i-ParamonWorkTime. I am using i-ParamonWorkTime because I used it for many years and don't like to change indicators often.
Yes, it is i-ParamonWorkTime indicator. Trading time. You can change it of course.
As to the lines so it is the second indicator: MaksiGen_Range_Move
It is from paramon system as well. It is on this thread https://www.mql5.com/en/forum/173317
As I said Paramon did not use any indicators even for support/resistance and trend lines but other traders wanted to have something on the chart so OlegVS created this indicator.
It is indicator which is drawing support/resistance lines including lines for breakout (possible sell/buy stop orders) and trend line. Vertical lines is something about how it as calculated. It is number of the bars in the settings:
Indicator is drawing 2 support lines, 2 resistance lines and 1 trendline. 5 lines in total on the chart. Support/resistance lines (4 lines) are horizontal ones and trend line may be in any position. And everything depends on the settings of Pfast and Pslow. By default the indicator is using 1st bar (previous bar), bar #5 and bar #8 for drawing. And those vertical lines are bar #1, bar #5 and bar #8 according to the setting.
Why previous bar is bar #1? Because it is how the coders are using it: previous (or close) bar is bar #1 and current open bar is bar #0. It is terminology.
Some comment: If you are asking to code EA from the coder (one EMA is crossing the other EMA for example) and you did not say anything to the coder about the bars so the coder will code it using bar #1 (you will see your crossing on bar #1). Coders are typing those bar numbers in the code. Usually the bars on the chart are counting starting from 0 (zero) bar which is current open bar. Just for information.
I am using this indicator because I do not want to draw anything manually. Just in this case.
Those 2 indicators (i-ParamonWorkTime and MaksiGen_Range_Move indicators) are from this thread https://www.mql5.com/en/forum/173317 and this thread https://www.mql5.com/en/forum/173261
But as I said you can deattach those indicator from the chart if you are not using them, or use the other indicators:
- instead of i-ParamonWorkTime you can select some indicator from this thread https://www.mql5.com/en/forum/general
- instead of MaksiGen_Range_Move you can select something from this thread https://www.mql5.com/en/forum/177227 and this thread https://www.mql5.com/en/forum/172989