New article On the Long Way to Be a Successful Trader - The Two Very First Steps has been published:
Author: Andrea Bronzini
This is a classical trading strategy, which falls into the category of breakout systems. They form support and resistance levels, which temporarily limit further price movement. When the price breaks down the support level or breaks up the resistance level, there emerges a strong momentum in the breakout direction, which allows to make profit on strong price movements with moderate risk.
To create the strategy, we used historical data with the quality of history of 99.9%.
It uses filtration o
This Expert Advisor trades news on any timeframe.
The news are downloaded from the Forex Factory website. Make sure to add the URL to the terminal settings.
The EA is launched on a single chart and defines all necessary pairs for trading on its own.
The robot works with pending orders setting two Buy stop and Sell stop orders before a news release.
It determines the time zones of the calendar and terminal automatically. Make sure to add the time.is URL to the terminal settings.
The EA can b
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
A script for opening a grid of orders
If you need to quickly open several pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) on a certain distance from the current price, this script will do all the routine for you! Allow AutoTrading before running the script.
Run the script on a chart.
Language of messages displayed (EN, RU, DE, FR, ES) - language of the output messages (English, Russian, German, French, Spanish). Price for open - open price. If set to
AIIV EURUSD - Active Index Inflection Values EURUSD
The Indicator Shows:
The intensity and the direction of the movement of USD. The intensity and the direction of the movement of EUR. The inflection value of EURUSD.This indicator allows determining a state of inflection on the market with a delay of one-two candlesticks and a 60% precision (precision depends on the chart timeframe - the higher the timeframe, the more precise is the forecast).
AIIV is a series of indicators of inflection
The PZ Day Trading indicator detects reversals in a zig-zag fashion, without repainting or backpainting. Based on breakouts of variable lengths, the indicator uses only price action to pick trades and reacts to the market very fast. The positional accuracy of its signals offers huge opportunity for profits, easily up to 80% winners.
Amazingly easy to tradeChart statistics will help you to optimize your tradingIt works on every single timeframe without fine tuningThe indicator analyzes its own q
The Trend Strength is now available for the MetaTrader 5.
This indicator determines the strength of a short-term trend using the tick history that is stores during its operation.
The indicator is based on two principles of trend technical analysis:
The current trend is more likely to continue than change its direction. The trend will move in the same direction until it weakens.The indicator works on the M30, H1, H4 and D1 timeframes.
It is easy to work with this indicator both in manu
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
We present you an effective software solution for arbitrage between brokers.
The Arbitrage on the market became widespread due to decentralization. There are many liquidity providers, whose quotes differ for various reasons. By tracking the dynamics of changes in the quotes of different brokers, it is possible to determine the delayed and leading brokers, thereby predicting the future prices of the delayed broker for a short time. Knowing these prices and using efficient built-in software filte
The indicator generates early signals basing on ADX reading data combined with elements of price patterns.
Works on all symbols and timeframes.
The indicator does not redraw its signals. You see the same things on history and in real time.
For better visual perception signals are displayed as arrows (in order not to overload the chart).
The indicator is a complete analogues of the Trend Monitor indicator for MetaTrader 4
The best results are obtained when the indicator works o
Pivot Points MT5 is a universal color multicurrency/multisymbol indicator of the Pivot Points levels systems. You can select one of its three versions: Standard Old, Standard New and Fibo. It plots pivot levels for financial instruments in a separate window.
The system will automatically calculate the Pivot Point on the basis of market data for the previous day (PERIOD_D1) and the system of support and resistance levels, three in each.
A user can choose colors for the indicator lines.
DCMV Trade Channel Oscillator
The indicator calculates the values of DCMV trade channel oscillator:
Trade channel width. The value of trade channel depends on the trend (it increases at start of the trend and has the maximum values at end of the trend). The value of trade channel decreases at flat movement. The lowest values of channel width indicates the high probability of the very strong price movement.
The +DC line shows the "bulls" power. The -DC line shows the "bears" power. Th
Trade Channel Indicator DCMV
The DCMV Indicator calculates the following Channel characteristics:
Channel Bounds (for TP and SL). It's assumed that price will never go outside the channel.Center Line of the Channel.Settlement price (with probability 90% the price will return to this line).Reference line (used for detection of trend).Upper and Lower breakborder. Used for generation of trade signals: channel breakout (trend strategies), false breakouts (flat strategies).Usage:
The indicator pro
Who will be interested in this product:
those who are used to diversify the portfolio with a large number of pairs. those who work with a large number of orders those who trade news using pending orders (see the "Grid request" tab).The panel is designed to make managing a large number of orders as easy as managing one.
The currency pairs and order types for opening are formed here. The prices and stop levels are set.
User can define the price valu
The indicator determines and marks the short-term lows and highs of the market on the chart according to Larry Williams` book "Long-term secrets to short-term trading".
"Any time there is a daily low with higher lows on both sides of it, that low will be a short-term low. We know this because a study of market action will show that prices descended in the low day, then failed to make a new low, and thus turned up, marking that ultimate low as a short-term point. A short-term market high is just
The most profitable trend traders are the ones who know how to recognize not only the market trend, but also the trading opportunities that arise once a trend has been established. The Pz Trend Trading indicator has been designed to profit has much as possible from trends taking place in the maket.
Established trends offer dozens of trading opportunities, but most trend trading indicators neglect them completely, and leave the trader completely uninformed about what the market is doing during a
Main Pivots is an indicator which looks for pivots points on preset intervals (days, weeks, months, years, etc.). Then all extreme points are checked for splice and consistent support and resistance lines are formed. These lines are useful for detecting the best pivot points.
It finds a pair of pivot lines for each interval which correspond to Low (support line) and High (resistance line) of the price movement on the interval. Difference between these lines represemt the price movement for the
Energy line is calculated similar to kinetic energy in physics: E = (mv^2)/2. Tick volumes (money stock) are used as mass, while price rate of change (ROC) is used as velocity.
Energy direction (positive or negative) is defined by ROC direction.
Chaikin Volatility (CHV) indicator is additionally used. Since the volatility starts increasing before the price actually moves, CHV notifies of the increased market activity in advance. Calculations result in the energy release, which usually occurs b
The script creates account summary report in a separate window.
The report can be created for all deals and on deals for selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The script creates account summary report in a separate window.
The report can be created for all deals and for deals of the selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news rel
Unique "scalping" trend indicator with the feature of multi-layered smoothing of the resulting lines and a wide selection of parameters. It helps determine a probable change in the trend or a correction virtually near the very beginning of the movement. The toggled intersection arrows are fixed and appear at the opening of a new bar, but, with enough experience, it is possible to look for entry opportunities as soon as the indicator lines intersect at the unfinished bar. The signal appearance li
This indicator gives full information about the market state: strength and direction of a trend, volatility and price movement channel. It has two graphical components:
Histogram: the size and the color of a bar show the strength and direction of a trend. Positive values show an ascending trend and negative values - a descending trend. Green bar is for up motion, red one - for down motion, and the yellow one means no trend. Signal line is the value of the histogram (you can enable divergence
MultiRSI indicator is a combined RSI indicator for several currencies allowing users to analyze their group movement.
Like all indicators of that kind, it helps identify the currency that is currently the most deviated from the market's general movement, as well as the most oversold or overbought currency in the cluster analyzed by RSI oscillator.
For example, the screenshots display the cluster of 7 currencies with Euro as a base one: EURUSD, EURGBP, EURCHF, EURAUD, EURCAD, EURJPY and EURNZD.
The indicator is based on readings of two oscillators: Bulls Power and Bears Power. It clearly shows the balance of buyers and sellers power. A signal for entering a deal is crossing the zero line and/or a divergence. When the volume filter is enabled, yellow histogram bar shows low trading volume (below average for 50 previous bars).
Period - calculation period, 13 on default; CalculatedBar - number of bars for displaying a divergence, 300 on default; Filter by volume -
Here is the product, which truly reveals all the computing and graphical capabilities of the MetaTrader terminal.
The TrendNavigator indicator helps you take the most effective trading decisions, features stunning accuracy, unlimited graphical capabilities and highly developed notification service.
3D graphics 4 unique trend determining algorithms 5 types of notifications of trend change which appear as Buy and Sell signals Very high accuracy Shows local lows and highs Free notification
Fast Copy MT5 allows to copy trades between different MetaTrader 5 (netting)(hedge) and MetaTrader 4 accounts in any direction and amount, quickly and easily (without loading the system).
Any type of copying is available
MT5 —> MT5 MT5 —> MT4 MT4 —> MT5 MT4 —> MT4
* For any interaction with the MT4, it is necessary to additionally install Fast Copy MT4
One tool for sending and receiving transactions: [master] > [slave] operation mode can be selected in
The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency.
The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. In a
The TrendX is a technical indicator which allows to determine not only the movement direction of the market, but also to identify the flat areas.
It is based on the CCI indicator and a combination of price patterns.
The indicator works on all symbols and timeframes.
Two parameters allow to customize the indicator as needed, PERIOD is the period of CCI and T_Value is the significance of the trend.
The indicator is based on the digital window-sinc filter with an excellent frequency division. Due to this property you can get a very smooth indicator line.
The indicator has three lines: the central line indicates the main trend direction and the "fair" price, the other two lines show the price range. When the central line is read, it is recommended to buy from the bottom line and close a position above the central line. When the line is blue, do the opposite - sell from the upper line and cl
Sure it's not so easy to identify the proper SL.
I use ATR values and/or donchian's channel but, as usual, it's never the only rule.
grazie per il commento ;)
I developed a simple system for identification of SL which I will describe in another article together with its indicator. Of course it does not offer 100% success... but having a systematic tool for placing SL is of great help in automated trading so it was one of my priorities to get it done :)
That's sounds interesting to see your way to set SL.
I'll wait more tips.
p.s. Commento doveroso visto che fino ad ora siamo gli unici due italiani che hanno pubblicato un articolo su mql4.
Se usi skype fatti sentire. CIAO
Good jobs pals! This is really great.
A lot of people think that trading forex is just trying to make money, without considering really what will happen if you fail to secure what you have made. I would like you to comment on the good strategies to adopt while scalping using the 5, 15 and 30 minutes chart window.
Tnx for your comment Tony.
Well, I'm really not a big fan of scalping cause I think it is "physiologically" dangerous on the Forex Market.
What I mean is that in live trading your plan of gaining i.e. 5 pips can be easily spoiled by a requote of the server.
I'll make you an example:
think you have in your hands the M5 chart of today (I mean actually all the bars that still have not come are already known to you) and you can open your orders knowing exactly every movement of the market.
Now, you want to get the most out of it and scalp on M5 to get profit from ALL the movements... after all you know them already, why you shoulndt get advantage of it? :)
When doing scalping in M5 it's fair to assume that your target are 5 to max 10 pips, right?
So now place your orders, chart in your hands, and let's see what happens.
Well... most likely many of your requests will be requoted, both in opening and closure of the trades and this will result in a disaster.
Remember you have 2 pips spread... add 2 pips requote on opening and 1 pip on closure and your 5 pips profit are gone already!!!
Do you get my point? :)
I think scalping works fine only on the strategy tester where no requote is applied and where transaction are made instantly. In the real world things are different.
One can overcome this with pending orders (which I consider a superior way of trading) and as a matter of fact if you set your openings and TP with a pending order you can be sure you'll get it right. Question is... without your magic chart of the future, do you have a system for scalping that gives you 5 pips of margin for placing a pending order? :)
You see that the question is still open.
Anyway, I strongly recommend not to trade on any timeframe lower than M15 cause this is the minimum for proper selection of SL. I hope I can explain this better in another article. Also movements on M15 are a bit wider and this will allow you coping with requotes most of the time.
Hope this short answer gave you some good idea :)
really nice article you wrote, and I appreciate very you took so much time to let us know, what is going on in your brains ;-)
I hope to find more articles from you in the future.
One question came to my mind, when I read that article: Isn't it, that you have to have a good idea, when and how you should place your order, before you can think about the S/L? In your example you showed the resistance level and then the last two bars, which seem to continue their increasement. But I think, the resistance level as shown in your example does not come very often - I rather think, this is a very rare situation, having such a beautiful resistance level. But the resistance level is very essential for defining the correct S/L. So I would say, it is very hard to define the correct S/L. So, this is true, obviously (making good E/As and defining S/Ls is definitely not easy ;-), but I really have a problem to put your thoughts into codelines for an EA.
So I really hope to read from you soon to clarify my little comprehension problem.
One question came to my mind, when I read that article: Isn't it, that
you have to have a good idea, when and how you should place your order,
before you can think about the S/L?
He he he... you raise a really good point but I dont feel like saying you are right.
As you read in my article I made of SL and MM kind of philosophy by now and when I trade I look for my openings with this in mind.
I know it may sound like a riddle because you wont read anything like this anywhere on the forums... there is a particular aproach which just pop into my head and I'm trying to make a sense of it :)
...the resistance level as shown in your
example does not come very often - I rather think, this is a very rare
situation, having such a beautiful resistance level. But the resistance
level is very essential for defining the correct S/L. So I would say,
it is very hard to define the correct S/L.
Yes, that example is remarkable... but I didnt chose it on purpose... it was just one of the first I found... so maybe it is not so rare case :)
However, placing your SL is definitely linked to S/R levels but they do not have to be so sharply defined to make it work.
I can guarantee that you can always find a good SL in a range of 70-150 pips. If you are lucky even less.
...and if you dont find it? well... easy, it means U'd be better not to trade :)
In fact if you find your optimum SL some 200 pips far then your moment is gone, it's simply to late to take that trade... dont you think?
Why on the earth you should use a smaller SL introducing the risk of losing the trade??? ...you should have opened your position earlier and since you didnt then you wait... another better chance will come. Forex is gonna be there for a long time.
Hope you get my point :)
I dont want to add more here, I'm working on this second article which is just about placing SL and coding an indicator/EA which recognize the proper SL level according latest price action. I didnt see anything like this around... so maybe it will be a bulshit or a big step ahead... I guess we'll see :)
HOW EVER THE REALITY tell me that fixed SL distance is better, you can see the top 3 EA of ATC 2008, also using same SL distance
Got your point but I'm damn curious to see how those EAs would be doing right now :)
You are basing your judgment on a reality which is 3 months long.
No need to add anything else.
Heve you ever thought that out of more 700 EA there are for sure some that fit the Market behavior for a short given time???
This doesnt mean they are better than others... they are only a lucky match to the current Market's conditions.
at least until it is proven that that kind of result can keep going for long long time.
However, this is not the point one should look at.
SL is seldom reason for which a strategy wins... but it can be reason for which a strategy loses!
SL comes handy only when the position is a loosing one... so if your strategy is so good that position always go in profit shortly you could use no SL at all. But we all know that there is no such strategy and that's why we have to keep using SL.
A good idea to check effect of fixed SL on ATC EAs would be to look among the loosing EA and see how many implements fixed SL or no SL and how many variable SL. I expect that you can find in percentage more EAs with variable SL among those in profit than among those in loss.
Anyway, successful EAs are those who can produce a constant profit on the long run, no matter how small/big it is.
When I trade I want to be able to gain profit continuously... not make money today and go bankrupt tomorrow.
That's why one thinks through what he is doing and tries to use some logic. Fixed SL has no logic at all.