Of adaptive lookback
The Adaptive Lookback (period finder) is truly a market-driven indicator used to determine the variable lookback period for many different indicators, instead of a traditional, fixed figure.
It is based on the frequency of market swings - the time between swing highs or swing lows. A swing high is defined as two consecutive higher highs followed by two consecutive lower highs; a swing low is defined by two consecutive lower lows followed by two consecutive higher lows. As swing points typically accompany reversals, they occur more frequently in choppier and volatile markets than in trends.
Adaptive lookback period is determined as :
This makes the variable lookback period grow in calm or trending markets, and shorten in range-bound and volatile markets. For a trend-following system you would like the opposite to prevent being whipsawed, therefore this indicator and it's usage as a period modifier is more suitable for short-term traders and counter-trend systems (so, in all systems where maximal speed of reaction and signaling is required).
Experiment with applying the adaptive lookback period to different indicators and you'll see how more responsive they become in volatile markets. Some of the experiments are going to be posted on this thread with immediate comparison to "non-adaptive" counterparts
Forum on trading, automated trading systems and testing trading strategies
How to Start with Metatrader 5
Sergey Golubev, 2018.06.20 10:47
This is the famous Firebird EA which was converted to MT5 -
Firebird v0.60 - expert for MetaTrader 5
The EA trades on the iMA (Moving Average, MA) indicator. At the same time, there is a parameter (defined in percents) Distance between "MA" and the price - the indicator indent from price. Before sending a trade order, it checks how much time has elapsed since opening the last position: If fewer than two periods (timeframes) have elapsed, then the position will not be opened.
Original EA's thread with many versions for MT4 is here: Firebird EA
Interesting (and well-known) indicator was published today for Metatrader 5 -
Trend direction and force - indicator for MetaTrader 5
This indicator was made originally for metastock a long, long time ago.
There are multiple metatrader 4 versions but they were not converted to metatrader 5 yet. So here is the "basic" version of the trend direction and force index indicator for metatrader 5. It is showing the direction of the trend and also the intensity of the trend. Usually the signals are when the trend direction changes for the first time.
There are good threads (with free tools):
Possibilities of Canvas.
Nikolai Semko, 2019.01.15 06:13
Flame from DOOM...
The algorithm was taken as a basis from this site with minor modifications.
Nikolai Semko, 2018.03.02 23:58
Demonstration of the possibilities of Сanvas in dynamics.
The picture never repeats.
This script also works on MQL4, but much slower.
int Width=(ushort)ChartGetInteger(0,CHART_WIDTH_IN_PIXELS); // get Window width
int Height=(ushort)ChartGetInteger(0,CHART_HEIGHT_IN_PIXELS); // get Window height
if(!C.CreateBitmapLabel(0,0,"CanvasExamlple",0,0,Width,Height,COLOR_FORMAT_XRGB_NOALPHA)) // create canvas with the size of the current window
Print("Error creating canvas: ",GetLastError());
for (int w=0;w<25600;w++)
h[w]= uchar(128+128*sin(double(w)/256)); //create an array to speed up the work
//Sleep(20); //For those who have a too powerful computer.
double d= (D1+D2)/(D1+D2+D3+D4);
//C.m_pixels[pos]=XRGB(h[int(d*11520)],h[int(d*17920)],h[int(d*6400)]);// works a little faster, but requires transferring the array m_pixels from protected to public in Canvas.mqh
Very interesting thread was started -
Trading the Andrews Pitchfork with Max
This thread is educational and the aim is to educate thread members in the correct way to manually take pips from the market. It will be suited to all grade and types of trader.
· It will suit the busy professional who only has 15 minutes before breakfast to place his/her trade before leaving for the office;
· It will suit the busy mother/father who has to be up and down feeding the baby and cleaning the house;
· It will suit the trader who has the commitment but has never been shown the direction;
· It will suit those who are tired of getting their account blown by service providers;
· it will suit those who are tired of blowing their own account.
Interesting thread was started -
optimal reward/risk ratio
I'd like to share some thoughts about an "optimal" reward/risk ratio from a statistical point of view, in a general scenario (without
looking at specific strategies, currency pairs...) and am curious what you think about it.