W1 price is is located on the primary bearish with the market rally and
1.1240 resistance level for trying to be broken on open W1 bar for now:
If W1 price will break 1.1240 resistance level so we may see the local uptrend as the secondary market rally to be startedIf not so the price will be ranging between 1.0461 and 1.1240 levels with primary bearish
is on primary bearish with the secondary ranging which was started in April by close MN bar:
If MN price will break 1.2569 resistance level the local uptrend as a market rally will be going to be started within the primary bearish market conditionIf MN price will break 1.3160 resistance level so we may see the reversal of the price movement from bearish to the primary bullish on MN timeframeIf not so the price will be ranging between 1.0461 and 1.2569 levels with primary bearish
SUMMARY : ranging
TREND : bearish
PipTick VSA is based on the original Volume Spread Analysis method. It was designed for quick and easy recognition of VSA patterns. Even though this indicator looks very simple, it is the most sophisticated tool that we've ever made. PipTick VSA indicator is a really powerful analytical tool that generates very reliable trading signals. Because it is very user friendly and understandable, it is suitable for every type of trader, regardless of his experience.
What is VSA?
VSA - Volume Spread An
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
Cluster analysis is now available in MetaTrader 5!
YuСlusters indicator builds a cluster graph based on tick data. For exchange instruments it is the volume and the last deal price, for Forex instruments it is the real or tick volume (depends on broker) and selectable type of the current price: Bid, Ask or (Bid+Ask)/2.
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This is Gekko's Cutomized Moving Average Convergence/Divergence (MACD), a customized version of the famous MACD indicator. Use the regular MACD and take advantage of several entry signals calculations and different ways of being alerted whenever there is potential entry point.
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Does not support hedging orders on a single symbol on MT5
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The indicator determines and marks the moments of trend change on a chart based on the theory of fractal levels breakdown on any time frames. If a breakdown based on all rules is real, the horizontal lines will appear on the chart with corresponding color. If there is an up trend, the line will be blue. In the descending trend the line will be red. The blue line is a strong support level, the trader should look for buying opportunities above this line. The
The indicator has standard settings. The new modification of indicator provides special marking of the segment when the moving averages begin to form a cross in one direction or another. The Alligator`s cross indicates that the trend is about to change. Modified Alligator helps traders to determine a trend on a particular timeframe even if the averages are intertwined and have a shift in the future. Direction of a trend is determined by a cross of the averages with a specified marking area on th
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Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
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Sideways Alert Indicator is a very effective tool to indicate sideways conditions on live charts and to determine its levels. It helps us trade within the range or trade the breakout or just simply to filter out sideways market conditions.
qAutoActivation indicator is one of the main components of Trading Chaos Expert trading expert panel. The indicator displays the current trend on the current timeframe. This is the first indicator that is attached to the chart and saved in the trading complex template. It defines what trading signals from the expert panel should be automated for market entry (bullish or bearish ones).
When the trend changes, the indicator changes the line color and, at the same time, highlights the trading pane
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Trend Laser with Volt Impulse
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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
Scalper with Automatic Parameter Setting
Would you like to have an Expert Advisor that could automatically calculate trade parameters and adjust to the current market situation?
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This is a linear indicator of a currency power having the ability to filter by smoothing values. It shows the current power of selected currencies (the maximum number is 8), as well as historical values. The product is based on CPM Extended MT5. Calculation depends on the selected chart timeframe the indicator is launched at.
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This is an utility for automatic scaling of a chart and making at least 140 bars visible in it. This is necessary for a correct wave analysis according to the Bill Williams' strategy "Trading Chaos". The utility can be used on any timeframe available in МetaТrader 5.
It draws a vertical line through the first bar the calculation starts from. This line allows you to see the probable starting point of the wave sequence along with a sufficient number of bars displayed in the chart. It also makes t
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
Monitoring and Trend Analysis
This product shows the trend strength levels based on 16 standard indicators, time periods and currency groups.
Depending on the current trend, the indicator colors change from green to red, allowing you to see the full picture.
Whatever your trading method and strategy are, you should always know, in which direction you are trading and what the probability of the trend change is. This indicator will help you answer these questions by calculating the
Active Lines - a powerful professional tool for operations with lines on charts. Active Lines provides a wide range of actions for events when the price crosses lines. For example: notify, open/modify/close a position, place/remove pending orders. With Active Lines you can assign several tasks to one line, for each of which you can set individual trigger conditions, as well as conditions for re-activations and the number of possible activations.
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The main purpose of the indicator is to detect and mark trade signals on the histogram of the Awesome Oscillator according to the strategies "Trading Chaos, second edition" and "New Trading Dimensions".
The indicator detects and marks the following trade signals:
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FourAverage: A Breakthrough in Trend Identification
With evolving information technology and increasing number of market participants, financial markets get less and less analyzable using good old indicators. Common technical analysis tools, such as Moving Average or Stochastic alone, are not capable of identifying the trend direction or reversal.
Can a single indicator show the right direction of the future price, without changing its parameters over 14 years' history, while at the same time
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The main purpose of the indicator is to determine and mark trade signals on the histogram of the Accelerator Oscillator, which were described by Bill Williams in his book "New Trading Dimensions". The list of signals:
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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".
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SafeZone is a method for setting stops on the basis of recent volatility, outside the level of market noise. It is described in "Come into my Trading Room" book.
In a downtrend, SafeZone defines noise as the portion of the current bar that extends above the high of the previous bar, against the downtrend. It averages the noise level over a period of time and multiplies it by a trader-selected factor.
For short trades, it adds the average noise level, multiplied by a factor, to the latest hig
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2015.05.02 12:56
Forex Weekly Outlook May 4-8 (based on forexcrunch article)
The US dollar experienced a very turbulent week, tumbling
down and recovering, but not against the euro. Close elections in the
UK, an important rate decision in Australia, employment data from New
Zealand, Australia, Canada and the all- important US non-Farm Payrolls
release are key events. These are the highlight events on Forex calendar
for this week. Here is an outlook on the top events coming our way.
The Federal Reserve downgraded its economic outlook amid soft growth data.
The Fed admitted recent weakness in the first quarter relating it to
temporary factors. Inflation will have to climb back to 2% and the job
market needs to improve further before a rate hike is announced.
However, the Fed believes the US economy will rebound in the second
quarter. Meanwhile, jobless claims
released last Thursday, surprised markets with a 34,000 fall in the
number of claims nut not all data points impressed. The biggest winner
was the euro, that broke critical resistance and seems unstoppable. Poor
data weighs on the pound towards the elections and central banks weigh
on the kiwi and the Aussie.
Sergey Golubev, 2015.05.02 12:59
US Dollar Fundamentals (based on dailyfx article)
Fundamental Forecast for Dollar: Neutral
This past week, the USDollar posted its first drop
on a monthly basis in 10 consecutive months. At the same time, the week
ended on a rally that closed out the period little changed. We are in a
phase of technical and fundamental limbo. A correction for the Greenback is not without its merits:
the Dollar’s exceptionally consistent run can be overinflated by
trend-following speculative interests that need to retrench and rate
speculation has softened alongside the quality in data. Then again, the
currency’s and economy’s ‘relative’ appeal is still exceptionally
strong. With the Dollar transitioning from a steady bull trend to a
period of consolidation and now suffering its most painful slide in a
year, the burden to generate momentum on this week’s fundamental themes
will be more evenly distributed.
For fundamental traders, the most recognizable
catalyst in the week ahead will be the April labor statistics due on
Friday. It is not unreasonable to peg the NFPs the week’s top event risk.
It is an easy-to-interpret indicator and taps directly into what has
driven the Dollar and FX market generally through the past year:
monetary policy expectations. However, there will be hurdles to overcome
for this data to lock in a definitive currency move. The most prominent
obstacle for the report will be its Friday release. There will be
plenty of anticipation, but confirmation comes late in the week.
In the data itself, the elements that cut closest to
the key determinants for monetary policy will carry the most weight.
The unemployment rate is already well beyond levels previously set as
targets, so its up- or downtick will generate lower amplitude waves. The
missing element in the timing of the Fed’s liftoff is tangible
inflation pressure. For that reason, the earnings data will likely prove the most important update.
The current consensus is for a 2.3 percent increase in wages
year-over-year, which would match the strongest pace since 2009. Should
the data meet or ‘beat’ this forecast, it would tip the uneasy
equilibrium in rate speculation that we were left with following this
past week’s poor 1Q GDP reading and the FOMC’s suspiciously status quo
statement. Alternatively, a ‘miss’ is likely to carry less weight as it
fighting a current whereby the Fed remains well ahead of the policy
Sergey Golubev, 2015.05.03 08:30
EUR/USD Retains Bullish Pattern Despite Thin Market Participation (based on dailyfx article)
AUD/USD Outlook Mired by Speculation for Reserve Bank of Australia (RBA) Rate Cut.
Sergey Golubev, 2015.05.03 08:39
Monthly Forex Forecast: May 2015 (based on dailyforex article)
The USD has fallen meaningfully in value over the past 1 month and 3
month periods. This is a significant quantitative change in the market
and is suggestive of continuing USD weakness over the coming month. Next, it should be noted that both the GBP and the JPY have been
enjoying steady movement overall for many months, with the GBP rising
and the JPY falling. Over the past 3 months, we are also seeing strong turnarounds from
bearish to bullish in CAD and NZD, and in AUD to a lesser extent. This suggests that the current month will see rises in GBP, CAD, NZD
and AUD, and falls in USD and JPY – in these orders of preference.
Many traders believe fundamental factors should either be ignored
completely, or taken as the primary factor to consider in entering or
exiting a trade. Fundamental analysis is best used as a final filter in deciding
whether to take a trade that already looks good from a technical
Therefore let’s consider the aforementioned currencies from a fundamental perspective. Both the GBP and the CAD have higher base rates than the USD. Of the three currencies, the market probably sees the next rate rise
as most likely to come in the GBP, closely followed by the USD. The USD is seen as having the strongest economy, but that perception is arguably under threat now. The CAD may be impacted by the price of oil with a positive
correlation, and the price of oil is bouncing back and rising strongly. Overall it seems that the fundamental factors are mixed and
questionable enough to probably not be a block in the direction of the
Sergey Golubev, 2015.05.03 10:42
EUR/USD Weekly Fundamental Analysis, May 4-8, 2015 – Forecast (based on fxempire article)
closed the week at 1.1199 after touching a two month high. The dollar
extended its gains against the pound from Thursday’s session after
weaker-than-expected manufacturing report. It has recovered most of its
losses from earlier in the week.
Economic data released Thursday showed Chicago-area manufacturing
activity expanding for the first time in three months, weekly jobless
claims falling to their lowest level in 15 years, and a
larger-than-expected increase in a closely watched measure of wage
inflation. That data helped support the argument, advanced by Federal
Reserve policy makers, that weak first-quarter growth was primarily due
to transient factors, including bad weather and labor disputes at
While not spectacular, Friday’s data didn’t provide a strong signal to the contrary.
Strong economic data increases the possibility that Fed policy makers
will raise interest rates at their June meeting, a move that would
benefit the dollar.
The euro posted its biggest monthly gain in 4 1/2 years in April as
speculators pared record bearish bets. Positive economic reports suggest
the European Central Bank’s asset-purchase program is working, while
U.S. growth remains uneven. Markets in Europe, including Germany and
France, were closed for national holidays, leading to thin trading.
The euro is still forecast to fall by year-end. The median estimate
of more than 60 economists compiled by Bloomberg News sees the euro at
$1.04 on Dec. 31, more than 7 percent lower than yesterday’s closing
“We’ve seen an improvement in European fundamentals, which has
translated into support for the euro,” said Joe Manimbo, an analyst at
Western Union Business Solutions, a unit of Western Union Co. in
Washington. “For the most part, it’s just the euro’s ability to steal
the dollar’s lost thunder on the low pulse for the U.S. economy in the
Sergey Golubev, 2015.05.03 10:57
EUR/USD Monthly Fundamental Forecast May 2015 (based on fxempire article)
had a stellar month in April closing in the 1.12 level after the ECB
kicked off its stimulus program and data started printing a bit better
than in previous months. Greece continued being a thorn in everyone’s
side. The euro is expected to trade flat or a bit weaker in April as US
data should start to print a bit stronger. In Spain and Italy, the
export-led recovery has boosted industrial production and is starting to
spill over into the broader economy, while deflationary tailwinds and
rising consumer confidence in France have coincided with higher
Efforts by France and Italy to push through much needed structural
reforms, as well as the Greek government’s decision to reshuffle its
negotiating team to broker an extension to its current bailout program
also bode well for stronger consumer and business confidence and
longer-term growth. Headline deflationary pressures in the euro zone
have also eased from -0.6% y/y in January to the most recent release of
0% in April, underpinned by rising energy and food prices. This,
combined with monetary stimulus, is forecast to gradually drive the
headline print up to a year-end rate of 0.6% y/y in 2015 and 1.3% in
2016. The ECB intends to fully implement its roughly €1.1 trillion QE
program and has no plans to alter its policy stance unless the higher
inflation trend is firmly anchored. With euro zone inflation forecast to
be in line with the ECB’s target of close to, but below, 2% by 2017, we
believe that QE will run its full course through September 2016.
Soft economic data for Q1, still-low inflation prints, and overall
USD strength were cited by the FOMC at its March meeting as the overall
rationale for delaying interest rate hikes into the later part of 2015
and moderating the extent of hikes to be delivered. An April FOMC
statement that pointed to a number of economic positives but failed to
mention constructive stirrings on the inflation front didn’t change our
view that the FOMC is likely to engage in so-called ‘liftoff’ at its
September meeting. A hawkish interim surprise would require
extraordinarily strong data between now and the June or July FOMC
meetings – not our base case.
Sergey Golubev, 2015.05.04 18:36
ECB's Constancio Convinced Greece Worst-case Scenario Will Be Avoided (based on rttnews article)
European Central Bank Vice President Vitor Constancio said that he
was certain that Greece's exit from the euro area will be avoided.
an interview to the Dutch daily Het Financieele Dagblad, which was
published on the ECB website on Monday, Constancio said, "Like everyone
else, I am concerned. But I am also absolutely convinced that the
worst-case scenario will be avoided."
same time, everyone acknowledges that the degree of stress and
vulnerability in the euro area has totally changed. There are no signs
Even if a Grexit materializes, the ECB is
sufficiently protected from huge losses as the risk of emergency lending
to Greek banks is shared with the national central bank, the Portuguese
"We jointly bear the risk on the rest of the
amount. But bear in mind that collateral has been provided. We are
talking about securities that are not linked to the Greek sovereign and
which, on top of that, are subject to a "haircut". This should offer
sufficient protection," Constancio said.
Sergey Golubev, 2015.05.03 20:05
Forex Forecast – Quant vs Chart Reading (based on dailyforex article)
On this basis, the quantitative momentum forecast for the edge during the coming week is as follows:
On this basis, my technical analysis forecast for the edge during the coming week is as follows:
Sergey Golubev, 2015.05.04 22:44
Forex technical analysis: EURUSD peeks below a support level (based on forexlive article)
So it is a slow grind and may just rebound off the next support, but the
EURUSD has touched (and is taking a peek below) the 100 hour MA (blue
line in the chart below) at the 1.1135 level currently.
There are reports that the IMF will cut off support for Greece. IMF
Lagarde and Greece's Tsipras are holding a telephone conference.
commission president Juncker says Greece exit for Euro area is no
option and that Europe must show solidarity with Greece.
Sergey Golubev, 2015.05.05 08:53
EUR/USD Technical Analysis: Short Position Now in Play (based on dailyfx article)
The Euro put in a bearish Evening Star candlestick pattern, hinting a move lower against the US Dollar
may be in the cards. A daily close below the 14.6% Fibonacci expansion
at 1.0982 exposes the 23.6% level at 1.0793. Alternatively, a push above
the 38.2% Fib retracement at 1.1271 opens the door for a challenge of
the 50% threshold at 1.1519.