About this indicator you may read (and download together with templates):
- AbsoluteStrengthMarket indicators: indicators to analyze the market condition. Read posts starting from this page to this one.
- indicators and template to estimate the market condition for D1 timeframe is here.
Please note: it is MTF indicator so it will re-paint the open bar on more highier timeframe (may re-paint, and may not).
Just 2 EAs. This one https://www.mql5.com/en/forum/174793/page2 (but it is not according to market condition rules).
And I modified Terminator EA with exact market condition rules for better performance here:
- Terminator v2.03_absolutefilter2 is on this post and some explanation is here.
Thus, there is one EA with market condition code inside:
It is very interesting to see how the other EAs may be improved with this market condition code.
I will try to improve some more EAs because it is not difficult to insert this code to EAs. But EAs should be trend followers to be improved (not counter trend as Firebird for example). So, it may be any of Terminator, Mandarine, Brainwashing, BrainTrading, Fozzy, MaChannel, any Step EAs and so on. Some of those EAs do not need to be improved as profitable already or based on some good trading system: MaChannel, Brainwashing, Step EAs, Fozzy for example.
So, it may be improved the following EAs: PriceCross EA, FXAnt 1.3, PC_SignalExpert_v1, Xp EMAs EA, PivotsExpert_v3, SilverTrendV3, Ichimoku5_1, USD Hunter and some other EAs.
Also it is very interesting to see this code together with some martingale EAs just to trade in particular market condition. But any martinale EAs are too difficult for me to improve or to code so may be someone can do it.
It is some image about how news is affecting on the price movement i used news indicator from here https://www.mql5.com/en/forum/177102 ).
Horizontal lines ae news events (indicator).
And i am posting this image on USDJPY because it is very interesting and warning case. Price broke resistance line at 115.26 (yellow horizontal line of MaksiGen indicator) and trying to break the border of the cloud (aroud 114.92 - Ichimoku indicator). Besides, if Chinkou Span line (white line of Ichimoku indicator) will cross the price for short (on close D1 bar of course) so it will be very strong signal to go short with USDJPY. Everything is just near the price: all resistance lines, Chinkou Span ...
And look at this image: it is this system https://www.mql5.com/en/forum/173317
There are two good simple sysems to trade on breakout, support/resistance and trendlines:
So, it is the image from MaksiGen trading system. I am always checking it. We may see as it was written on the chart: sell from ...
It was breakout today. And you may see breakout levels for Monday morning (or Sunday - depends on your broker's time) - it is blue/red horizontal lines.
And this Maksigen breakout (it was today) we may check with this Ichimoku chart, M5 timeframe (setting of Ichimoku is 5/10/20).
And we may check this breakout with those charts as well.
It is part of MaksiGen system.
Why i am posting too many Marsigen charts? MarsiGen system is different from our Asctrend system ...
Because of the following conclusion:
Always check breakout with other systems. If we are looking for breakout on M5 timeframe so check some other system on M5 timeframe: it should be breakout as well.
Because there are some illusion that it is very easy to trade breakout of some support/resistance lines. I may say the following: it is the most difficult to trade. It is easy to trade inside the channel. And it is most difficult to trade on breakout of the channel/support-resistance and so on.
People who are new for practical trading should start the trading from inside the channel avoiding any breakout cases in the same way as the news. Only experience traders are able to trade the breakout.
Look at this post https://www.mql5.com/en/forum/174756/page25 and compare image from tat post with the image attached now: I think i was right with my forecasting.
And look at this images and you will understand why I like Ichimoku indicator together with breakout of support/resistance lines on D1 timeframe.
USDCAD, CADCHF, CADJPY.
I am testing trading simulator (EA) the 2nd day already.
We are having this thread https://www.mql5.com/en/forum/general but I found on Metaquotes codebase something more new and very interesting.
So, i am backtesting one of the asctrend info template on H4 timeframe.
I will post tomorrow the explanation when finished testing (backtesting the indicators without EA creation with 90% quality).