Paramon Trading System - Trading Example
Forum on trading, automated trading systems and testing trading strategies
Market Condition Evaluation based on standard indicators in Metatrader 5
Sergey Golubev, 2013.10.18 13:39
Paramon Trading system Part #2 continuing (download indicators and template from this post)
3. Move stop loss. We are monitoring our trades and moving stop loss by mous on the chart (move stop loss line by mouse). Stop loss is moved to be near support/resistance level.
Sergey Golubev, 2013.10.18 13:44
4. Breakeven. If the trade is continuing so we are movuing stop loss to breakeven level (near the nearest support/resistance line as well but to breakeven). Support/resistance lines are placed by Paramon Trading system indicators on your chart.
Example with EURUSD (I moved so we can see it on the chart) :
Please find the statement attached :
Paramon Trading System - history of the development
Paramon is username of the trader who created this system long time ago for Metatrader 3 (Metatrader 4 and Metatrader 5 did not exist in that time - it was very long time ago). Paramon named his system Paramon Scalping (but as we see - it is not real scalping). He did not use any indicators and he traded just price action only using M5 timeframe charts (MT3).
Later on - the other traders created indicators for MT3 and MT4 to use this system (Maksigen indicators or/and Paramon indicators) just because they could not trade live without any indicator (having just price only on the chart). For now - Paramon indicators were converted to MT5.
Paramon is legendary person and he was the first trader in our Metatrader world who started to trade breakout systems live on real account without any indicators placed on the chart.
We should always remember the people who were the first
So, finally ... prease find one of the paramon indicator updated for Metatrader 5: ParTest - indicator for MetaTrader 5
Those are very interesting indicators but seems they need to ne updated and fixed for new builds of Metatrader:
Chart Clones - very good indicator which draw price charts as a subwindow.
Sub-Chart indicator first version is on this post: it is very interesting indicator. Indicator can show any symbol and any time frame in sub-charts.
Sub-Chart indicator second version (Sub chart - separate) is on this post: indicator can show any symbol and any time frame in separate window.
This is the interesting article: Transferring Indicators from MQL4 to MQL5
In today's article I'm going to represent you an algorithm of transferring simple price calculations from MQL4 to MQL5. With a glance to the difference between MQL5 and MQL4 I added the library of functions mql4_2_mql5.mqh; we will learn how to use it after reading this article.
TETRIS - indicator for MetaTrader 4
If the program does not respond to the control buttons, double-click the left mouse button anywhere in the chart window. To restart the game, switch to another timeframe.
Interesting indicator was coded for MT4:
Fibonacci levels at a given number of bars.
Description of indicator settings:
Vortex - indicator for MetaTrader 5
This indicator is presented in the article "The Vortex Indicator" from the January issue of "Technical Analysis of Stocks & Commodities" (2010)