All About Price Action - page 2

[Sergey Golubev]

How to deal with lines using MQL5

We all as traders draw many lines while trading to help us to observe some important levels to take a suitable trading decision based on them. So, these lines are very important for us as traders and we may wonder if we have a method that can be used to draw these lines or take a suitable decision based on them automatically because I think that it will help us a lot. The answer is yes, we have a method to do that by MQL5 (MetaQuotes Language 5).

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 1): Chart Projector

In this article, titled "The Chart Projector," we focus on developing a tool designed to simplify market analysis, particularly for price action traders. The Chart Projector overlays the previous day's chart onto the current one in a ghost mode representation.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2024.11.30 16:15

Price Action Analysis Toolkit Development (Part 3): Analytics Master — EA

Having developed the analytic comment script in the previous episode, I have identified its limitations regarding script properties, which I will outline below. While I acknowledge the considerable impact that the analytical comment script has had within the trading community, I have developed an Expert Advisor (EA) called Analytics Master. This EA offers the same analysis while also providing extra metrics for better trading insights. This new tool offers several advantages, including the ability to continuously update metrics every two hours, in contrast to the script, which could only write metric information once. The EA enhances analysis and keeps users updated.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2024.12.07 19:45

Price Action Analysis Toolkit Development Part(4): Analytics Forecaster EA

In this article, we will focus on integrating our broadcast with Telegram to ensure wider access to analyzed information. I chose Telegram for this purpose due to its popularity and accessible interface among traders. Integrating MetaTrader 5 chart updates with Telegram offers significant advantages for active traders. This setup provides immediate access to crucial market information, enhances the user experience, and improves communication. Consequently, you can develop more effective strategies and respond swiftly in a rapidly changing market. With this integration, you can increase your chances of success and make more informed, timely decisions.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2024.12.17 12:27

Price Action Analysis Toolkit Development (Part 5): Volatility Navigator EA

Navigating the complexities of trading involves more than simply identifying potential market directions; it also demands precise execution. Many traders encounter setbacks not because of poor trade execution but due to inaccuracies in their entry points, stop loss placements, or take profit targets.

To address this challenge, I have developed a new tool called Volatility Navigator using the MQL5 programming language, specifically designed to optimize these critical aspects of trading. Unlike my previous tools that primarily focused on predicting market trends, Volatility Navigator independently identifies optimal entry points, stop loss levels, and take profit targets.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2024.12.21 16:35

Price Action Analysis Toolkit Development (Part 6): Mean Reversion Signal Reaper

In this article, we will develop an MQL5 Expert Advisor designed to identify trading opportunities grounded in mean reversion principles. By utilizing a 50-period Exponential Moving Average (EMA) and the Relative Strength Index (RSI), we will generate precise entry signals that allow us to capitalize on market fluctuations. To make the trading process even more intuitive, our EA will display buy and sell signals as visual arrows directly on the chart, alongside an informative summary detailing the signals.

[Rajesh Kumar Nait]

A S M Obaidullah Kaiser:

Dear friends/Brothers/Sisters,

I want to start this post regarding Price Action. I want people to help about what I know. Please Respond this post, Share the way you know and learn the way I know. I am not a master but a trader like others and also like to know how others doing. Reply and Keep in touch with this post. :)

Price action is all about non-lagging "actions" in candlestick. Traders tracking price action should not rely on any form of lagging indicators. Example of price actions could be a engulfing candlestick pattern, reaction / action of price reaching on level which is monitored by price action traders and complex price structure. If a trader uses indicator such as moving average, it should not be counted as true price action.

Example of price action without using lagging indicators

1. A Hidden engulfing price action acitivity where candle closes below open of a bull candle

2. After breakout, 50% area of bull candle body is being monitored by price action traders

 A bearish engulfing price action at 50% area motivates seller to sell immediately which pushes price down

3. Price reaching target based on price action calculation and creates a bullish harami pattern which drags price up

So based on candlestick price action only, a trader can possibly trade lag free without using any indicator.

[Michael Charles Schefe]

Rajesh Kumar Nait #:

Price action is all about non-lagging "actions" in candlestick. Traders tracking price action should not rely on any form of lagging indicators. Example of price actions could be a engulfing candlestick pattern, reaction / action of price reaching on level which is monitored by price action traders and complex price structure. If a trader uses indicator such as moving average, it should not be counted as true price action.

Example of price action without using lagging indicators

1. A Hidden engulfing price action acitivity where candle closes below open of a bull candle

2. After breakout, 50% area of bull candle body is being monitored by price action traders

 A bearish engulfing price action at 50% area motivates seller to sell immediately which pushes price down

3. Price reaching target based on price action calculation and creates a bullish harami pattern which drags price up

So based on candlestick price action only, a trader can possibly trade lag free without using any indicator.

the post you replied to is almost 10 years old.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2025.01.24 06:00

Price Action Analysis Toolkit Development (Part 8): Metrics Board

In the early stages of our series, we released an article titled "Analytics Master," which explored methods for retrieving and visualizing the previous day's market metrics. This foundational work set the stage for the development of more sophisticated tools. We are excited to introduce the Metrics Board EA, an innovative and premium-quality solution that revolutionizes market analysis within MetaTrader 5.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2025.01.25 15:10

Price Action Analysis Toolkit Development (Part 9): External Flow

Financial markets can be complex, often presenting challenges for traders and analysts in processing and interpreting data accurately. To overcome these challenges, various libraries has been developed to simplify market analysis, each designed to handle data in ways that align with specific goals. While MQL5 libraries are commonly used to create trading strategies and indicators, external libraries, such as Python’s data analytics tools, provide additional resources for more advanced and in-depth analysis.