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 Identifying High-Probability Setups from Price Action

There are a variety of double candlestick patterns that provide a high probability trade setup. Three that are considered will be described here. Occurrences of these patterns are watched for near the support and resistance levels that are being used as possible entry references. As a side note, every example presented from now on will be shown with 1-minute candlesticks. This timeframe will always be used because of the precise entry points that this system utilizes, as well as its tight range of Stop Loss orders.

Every one of the following three patterns is comprised of two 1-minute candlesticks. When one of these patterns is seen near a reference price level (support, resistance or midpoint), market entry occurs exactly at the opening price of the next (third) 1-minute candlestick. Examples of this will be shown after the three patterns are described.

The first pattern, Pattern 1, is comprised of a candlestick that has a "wick" that is longer than its body, and a second candlestick that closes past the first in the opposite direction of the first candlestick's wick. The wick is the straight vertical line indicating the price range between either the high and Open/Close of a candlestick above its body, or the range between the low and the Open/Close below its body. "Doji" candlesticks could be included as the first candlestick in the pattern.

 
Plz tell me what is name of this indicator
 
@isandipanmondal #: Plz tell me what is of this indicator

The "Money Heist" spike detector indicator for MT5 is not available here. It  is a SCAM by a 3rd party. Stay away from it.

 

Hi

Can you pl. help me to clear few doubs regarding trade using mt5


Devarajan

India

 
Devarajan TK #: Can you pl. help me

Don't Hijack other threads for your off-topic post. Next time, make your own, new, thread.

 

Hello Everyone, 

Please how to i fix the errors in the code below: 

  
#include <Trade/Trade.mqh>
CTrade   Trade;

input int   InpStopLossPoints    = 75; // Stop loss in points 

int OnInit();  {

   return(INIT_SUCCEEDED); 
}

void OnDeinit(const int reason)  {
   
}

void OnTick()  {

   datetime checkTime   =  TimeCurrent()-30;            // Only looking at trades in last 30 seconds
   int      cnt         =  PositionsTotal();            // This won't see limit and stop orders 
   for (uint i=cnt-1; i>=0; i--) { 
      ulong ticket   =  PositionGetTicket(i);
      if (ticket>0) { 
         if (PositionGetInteger (POSITION_MAGIC) ==0 && PositionGetDouble (POSITION_SL)==0) {
                        // magic 0 = manual entry, sl 0 means not set
            if (PositionGetInteger (POSITION_TIME) >checkTime) {              // lets you override after 30 seconds
               string   symbol          =  PositionGetString(POSITION_SYMBOL);
               double   stopLoss        =  InpStopLossPoints*SymbolInfoDouble(symbol, SYMBOL_POINTS);
               double   stopLossPrice   =  (PositionGetInteger(POSITION_TYPE)==POSITION_TYPE_BUY)  ?
                                           PositionGetDouble(POSITION_PRICE_OPEN)-stoploss : 
                                           PositionGetDouble(POSITION_PRICE_OPEN)+stopLoss;
               stopLossPrice            =  NormalizeDouble(stopLossPrice,  (int)SymbolInfoInteger(symbol,SYMBOL_DIGITS));
               Trade.PositionModify(ticket, stopLossPrice,  PositionGetDouble(POSTION_TP));
 
   }
{
  
    // We create a string for the signal
    string signal ="";
  
    // We calculate the Ask price 
    double Ask=NormalizeDouble (SymbolInfoDouble (_Symbol, SYMBOL_ASK),_Digits);

    // We calculate the Bid price 
    double Bid=NormalizeDouble (SymbolInfoDouble (_Symbol, SYMBOL_BID),_Digits);
  
    // create an array for the price data
    double myRSIArray[]; 
  
    // define the properties for the RSI 
    int myRSIDefinition = iRSI (_Symbol,_Period,14,PRICE_CLOSE);
  
    // sort the price data from the current candle downwards
    ArraySetAsSeries (myRSIArray,true); 
  
    // Define EA,from current candle,for 3 candles, save in array
    CopyBuffer(myRSIDefinition,0,0,3,myRSIArray);
  
    // calculate the current RSI value 
    double myRSIValue=NormalizeDouble(myRSIArray[0],2);
  
    if (myRSIValue>68) signal ="sell";
    if (myRSIValue<32) signal ="buy";
  
    // Buy 10 Microlot
    if (signal =="buy" && PositionsTotal()<1)
       trade.Buy(0.10,NULL,Ask,0, (Ask+150 * _Point),NULL);
  
    // Sell 10 Microlot
    if (signal =="sell" && PositionsTotal()<1)
       trade.Sell(0.10,NULL,Bid,0, (Bid-150 * _Point),NULL);
  
    // create a chart output 
       Comment ("The current signal is: ",signal);
  
      {
   }
 
Ishmael Opoku-Acheampong #:

Hello Everyone, 

Please how to i fix the errors in the code below: 

Is your code supposed to be MQL4?

This is the MQL4 section and the code seems to be MQL5.

If it is MQL5 then please repost in the proper section

https://www.mql5.com/en/forum/ea

If you want help with errors, explain what the errors are and highlight where they occur in the code.

MQL5 forum: Expert Advisors and Automated Trading
MQL5 forum: Expert Advisors and Automated Trading
  • www.mql5.com
How to create an Expert Advisor (a trading robot) for Forex trading
 
I know this isn't the right thread but I can't find one that fits what I need help with. I haven't used metatrader 4 in awhile and got back on today, but I'm missing a lot of forex pairs. Mainly a lot of the GBP pairs. I searched them and it's like they are just not available. Anyone know what's going on or how to get them back? Thanks in advance 
 
Hello. Can you help me. 
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