All About Price Action - page 3

[elettra fischer]

Great post! I use key levels and candlestick patterns in Price Action. Curious to see how others trade. Let’s keep this discussion going.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2025.01.31 18:11

Price Action Analysis Toolkit Development (Part 10): External Flow (II) VWAP

In our previous article, we introduced the integration of market data with external libraries, showcasing the ability to analyze markets through various automated systems. Python's robust framework offers powerful tools for advanced data analysis, predictive modeling, and visualization, while MQL5 focuses on seamless trade execution and chart-based operations. By combining these strengths, we achieve a flexible, efficient, and sophisticated system for market analysis and trading.

This article presents a powerful tool built around the concept of Volume Weighted Average Price (VWAP) to deliver precise trading signals. Leveraging Python's advanced libraries for calculations enhances the accuracy of the analysis, resulting in highly actionable VWAP signals. We’ll start by exploring the strategy, then delve into the core logic of the MQL5 code and discuss the outcomes.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 11): Heikin Ashi Signal EA

In this article, we are excited to introduce the Heikin Ashi technique for trend reversal calculations, adding another layer to our integrated strategy that combines quantitative analysis with classic price action methods. One significant advantage of Heikin Ashi is its ability to filter out market noise, allowing traders to focus on the underlying trend without being distracted by minor price fluctuations. This approach smooths out market fluctuations and ensures that decisions are data-driven, providing a disciplined framework applicable to diverse financial markets worldwide.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 12): External Flow (III) TrendMap

In our previous Price Action Analysis Toolkit Development series, we examined a VWAP-based strategy that focused on how VWAP levels could influence market decisions—signaling a buy when the price was above VWAP and a sell when it was below. However, relying solely on VWAP can be problematic, particularly during periods of extreme market conditions when reversals may occur.

In this article, we take our analysis one step further by combining VWAP with Fibonacci levels to generate trading signals. Fibonacci retracement levels help identify potential areas of support and resistance, and when paired with VWAP, they can enhance the robustness of your trading strategy.

[Matthew88819]

elettra fischer #:
Great post! I use key levels and candlestick patterns in Price Action. Curious to see how others trade. Let’s keep this discussion going.

How'd you decide which pattern are most important for your trades?

[Rajesh Kumar Nait]

Matthew88819 #:

How'd you decide which pattern are most important for your trades?

only you can decide which is most important pattern because you judge them from your own eyes and believe it. If i say head and shoulder is most important how can you believe it?

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 13): RSI Sentinel Tool

In this article, we'll build an MQL5 Expert Advisor that automatically detects RSI divergence signals. The EA will mark these signals with clear arrows on your chart and provide a brief summary so you can quickly see what’s happening. Whether you're a beginner or a seasoned trader, this tool helps you spot trading opportunities that you can validate before executing trades, all without spending hours on manual analysis. Let’s dive in and see how this RSI Divergence EA can simplify your trading process.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 14): Parabolic Stop and Reverse Tool

In this article, we focus on developing an Expert Advisor (EA) using MQL5, designed to identify potential market reversals. The EA employs the Parabolic SAR for signal detection, generating trading signals by monitoring technical indicators, evaluating their validity in real time, and identifying optimal exit points when predefined levels are reached.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 15): Introducing Quarters Theory (1) Quarters Drawer Script

This article is the first part in our Quarters Theory. In this installment, we focus on constructing the quarters using our "quarters drawer" script. By automating the drawing of these crucial levels, we offer a practical starting point for visualizing key reversal and continuation zones. As we advance in this theory, we will develop even more robust tools to support signal generation and advanced market analysis.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 16): Introducing Quarters Theory (II) Intrusion Detector EA

In our previous article, we introduced the Quarters Drawer Script, a tool designed to plot quarter levels visually on the chart, making market analysis more intuitive. This concept is derived from Quarters Theory, originally introduced by Ilian Yotov. Successfully drawing these quarters has proven to be a powerful method for simplifying price action analysis. However, manually monitoring these levels as price interacts with them requires significant time and attention.