mks121
27
mks121  

need mql help!!

how can i wrote a syntex with can read horizontal lines or vertical lines from the metatrader???

MrHurricane
3
MrHurricane  

Possible DX wave count

see attachment

Files:
Nerva
4
Nerva  

How much time do you spend looking at your outstanding trades?

Do you leave them up most of the time & monitor them on your computer in the broker's interface, or MetaTrader4/whatever software you use; or do you just go hands off most of the time and let them make major moves to stop loss/take profit? Or do you have a system set up to notify you when certain points are reached in the trade? Just a noob looking for some direction, thanks!

kokas
503
kokas  

Going Beyond 70 And 30 In Forex

This is an article from traders.com, hope someone can coment it, or maybe develop an EA for testing... I'm not ready yet to do this.

Going Beyond 70 And 30 In Forex

Here's a look at the performance of a foreign exchange strategy that was applied to the EUR/USD.

by Jamie Saettele

The relative strength index (RSI), developed by J. Welles Wilder, is one of the most widely used indicators in technical analysis. But by the same token, it is also one of the most misunderstood and incorrectly applied indicators in technical analysis. Too often, a trader attempts to pick a top or a bottom and then watches in frustration as the market fails to top out or bottom out and continues to move in the same direction. Most traders realize that RSI is an oscillator and that its value can range anywhere from zero to 100. Extreme readings are said to be over the 70 level and below the 30 mark, with the former considered overbought and the latter oversold.

CATCHING A MOVE

This is where most mistakes are made. Novice and experienced traders alike jump at the opportunity to sell a cross below 70 or buy a cross above 30, trying to pick a top or a bottom. Some of the trades will surely work out, but it is the one or two losses that occur when the trader finds him- or herself on the wrong side of a strong trending market that will wreak havoc. It is not necessary to sell tops and buy bottoms. Instead, it's more effective to try to catch portions of large moves with higher-probability entry points.

Further, markets do not move straight up and straight down. Markets zigzag up, down, or sideways. This means that an RSI cross below 70 could be a correction within a broader trend, and that the correct move would be to buy strength, not sell it. Strong market moves will cause RSI to fluctuate near its extreme levels of 70 and 30, resulting in many crosses below 70 and above 30 and consequently many false signals.

It is during these strong moves that a participating, savvy trader profits. To be sure, money is made in ranging markets, but it can be made, and lost, much faster during trending markets. Most traders and analysts dismiss RSI during trending markets, claiming that the indicator is most useful during range-bound markets. However, RSI can be used in all market conditions if used wisely.

THE STRATEGY

We have established that an RSI reading above 70 occurs after a strong move upward and that an RSI reading below 30 occurs after a strong move downward. Before getting to 70 or 30, RSI had to cross 50 and 60 on its way up as well as 50, and then 40, on its way down. This is the logic on which we will base our strategy.

We will call upon the average true range (ATR) to aid in objectivity when entering and placing stops. ATR measures the average range per bar (or candlestick) over a specified number of periods. We are making our entry order and stop order dynamic by using percentages of ATR to place orders. As market volatility changes, so too do our orders. This ensures that we are implementing a wider stop in more volatile markets, which is necessary in order to give your trade more room to work.

FIGURE 1: EUR/USD. Applying the strategy on the daily chart of the EUR/USD generated a 554-pip profit for the first lot and a 736-pip profit for the second lot.

Files:
fxfsfig1.gif 22 kb
Seb890
3
Seb890  

Following price levels...

Hi everybody,

I'm looking for some indicator which allow us to follow a certain level of price, for exemple the highest point of the last 13 days. The indicator would be represented by a "broken" line above or below the prices (according to the type of request, highest or lowest point of the last n days).

I'm quite sure there is such an indicator or related threat somewhere on this well-documented forum but I wasn't able to find it.

I would be very greatfull to anybody who could give me a link

Thank you for your attention.

The trading success be with you

pikachucom
269
pikachucom  

ADX indicator, make into an EA with email alert

Hi,

Can anyone change this INDICATOR to an Expert Advisor and put an EMAIL ALERT on it.

I dont want it to trade, I only want it to send me an EMAIL when a NEW Red or Blue dot appears. A new DOT appears when the ADX crosses....

Settings are ADX: 14

thanks

Files:
adx_ea.mq4 3 kb
Egros
90
Egros  

Manual system with coffie_indicator

I am testing this system manually on the EURUSD and it seems not too bad. I will appreciate any help to make it better.

Rules are very simple when the blue MA break away from the red MA and you has a Cross of the two Coffie lines

A) Yellow up - Buy

b) Red up _ Sell

The HL Next Activator use for conformation of direction.

Default settings on all indicators except Ma1Period in Squize_Ma are set to 7.

H1 Timeframe

[Deleted]  
DOMIANDR000
72
DOMIANDR000  

Trend intensity Index

Has anyone developed this indicator?

If not its rules go like -

To calculate a 30-day trend intensity index (TII), follow these steps:

1. Obtain the 60-day simple moving average by adding the closes for the past 60 days and dividing the result by 60.

2. Find the deviation of each of the recent 30 closes from the 60-day moving average. The deviation is up if the close is above the moving average, and down when the close is below the average. Up deviation values are obtained by subtracting the moving average from the close, while down deviations are calculated by subtracting the close from the moving average.

So to sum up

TII for H1 (30 bars)-

-Calc 2*30 (60) bar MA

-a:=Sum(if(close-ma)>0,close-ma,0)

-b:=Sum(if(ma-close)>0,ma-close,0)

TII= 100*a/(a+b)

TII varies between 0 to 100. if 80 to 100 strong up trend

results are good and profitable. For more info see - http://www.traders.com/Documentation/FEEDbk_docs/Archive/062002/Abstracts_new/Pee/pee.html

Thanks

adria
78
adria  

Triggerlines expert advisor

Is there any expert advisor based on the Triggerlines indicator?