How to use Support and Resistance Effectively - page 88

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Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2016.08.12 19:08

If you are the coder so you can look at this indicator (inside the code) related to the market condition -

AbsoluteStrengthMarket - indicator for MetaTrader 5


This indicator with a sufficient accuracy allows defining 6 market states, exactly:

  • Bull market (Bull Market).
  • Bear market (Bear Market).
  • Correction (Correction) in a bull market.
  • Correction in a bear market (Bear Market Rally).
  • Choppy market (Choppy Market).
  • Flat market (Sideways Market).

By the way, AbsoluteStrength indicator (on the way I described it on the posts above) is used as a filter for some martingale EAs ... and there is some term (terminology) related to it - Control Martingale, means - trading in predefined market condition only. For example, trading correction/rally only, trading ranging only, trading on the flat only (for martingale scalpers), trading bullish/bearish trend only (trend following EAs), and so on.


 

This is very interesting EA; it can be useful for the people who are trading s/r levels - 

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Breakdown catcher - expert for MetaTrader 5  

The EA works with pending Buy stop and Sell stop orders.

Buy stop is set at the high price of bar # 1 + " Indent ", Sell stop is set at the price of low bar # 1 - " Indent ".

The test of this EA was done on EUR/USD M1 timeframe (as an example).

 

Highest high & lowest low support resistance - indicator for MetaTrader 5 

Highest high & lowest low support resistance

It is combining two highest high & lowest low calculations. The "slow" channel formed that way is treated as the "trend" determining channel. The "fast" channel is is the short term channel drawn within the "main" longer term channel. That way you have a combination of fast and slow estimations of SR and short term trends within the current trend. Of course, the estimation of the trend is based on highest high & lowest low, and even though it does not repaint, it is to be used as any normal trend based on such values. 

 


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Trend Line

Trend Line Trader EA

  • Trend Line Trader EA thread. This TLB EA draws trendlines using fractal calculations you can choose either for a 2 fractal trend line or a 3 fractal trend line, the Ea should find 2 or 3(your choice) fractals that line up and draw trendline off that, and if down trend will draw trend lines on highs and on lows for uptrend, if close greater than trendline for buy and less than trend line for sell. There is an option to use moving average for confirmation it is coded is close greater or less than current close then buy or sell. Also the EA can use volty stops for trailing if desired.
  • TLB_v1 EA - the post. It is Trend Line Trader EA improved version - added a jurik version of bb stops: if you prefer hardly any jurik just set the length to a low number. Also added an option so like using the ma there is a true or false to use or not.
  • TLB-rev EA - the post. Switched the buy/sell logic around on the trend lines and the confirmation Ma's, on the Ma's by default its a ma channel.
  • TLB-rev-1 EA - the post. It is improved version with Volty Channel Stop on jurik indicator.
  • tlb-rev-1.01_nmc EA the latest version for MT4 600+ builds - the post.  

TrendLine Alert Indicator - the post.

How to use Support and Resistance Effectively - the thread

CodeBase

  1. Instantaneous trend line - levels - indicator for MetaTrader 5
  2. Trendlines and Horizontal lines crossing notification EA - expert for MetaTrader 5

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    Hello! I don't know if I am writing in the right place, I have a problem with MQL% VPS hosting breaking 10-12 times a day. How can I ask for help and from whom? Thanks! Peter
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    ZigZag used as support-resistance

    zigzag_stairs.mq4

    can it be used for multiple timeframes ?
     
    I'm a new to Fx, How to go about it??
     
    Nnamani Onyedikachi:
    I'm a new to Fx, How to go about it??

    Find Metatrader broker (there are a lot of Metatrader brokers, use google to find), and open the account according to their condition on their websites.

    1. The article - MQL5.community - User Memo

    2. MetaTrader 5 Help - Open an Account

    3. Where Do I start from?
    https://www.mql5.com/en/forum/212020 

    4.  MetaTrader 5 Help - Trading Platform — User Manual 

    5. How to make a search on the forum
    https://www.mql5.com/en/forum/193510 

    6. MetaTrader 5 Help - Open an Account

    7. Find a Server by the Broker's Name: 
    https://www.mql5.com/en/forum/214820

    Forum on trading, automated trading systems and testing trading strategies

    How to Start with Metatrader 5

    Sergey Golubev, 2020.09.01 10:30

    Just to remind -

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    Open an Account - Getting Started - MetaTrader 5 Help
    Open an Account - Getting Started - MetaTrader 5 Help
    • www.metatrader5.com
    Two types of accounts are available in the trading platform: demonstration (demo) and real. Demo accounts provide the opportunity to work in a training mode without real money, allowing to test a trading strategy. They feature all the same functionality as the live ones. The difference is that demo accounts can be opened without any investment...
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