Advice to whomever believing in extremely high growth signal which thrive suddenly in short term. How to identify scamming signal:1) Before signal is published, you will see multiple trades opened at similar price level, trades opened at almost the same time and closed at the same time as well. One thing I could assure you that this account is a fake one as you can make one your own by creating multiple account hedging each account and narrow down till a single account with the highest growth. The process consume time and lose some money for spreads, but what's wrong with losing so little money since money can be earned from subscribers again?2) Scam signal provider always used cent account but the account currency is indicated in USD such as Procent server. It seems like the author has invested a huge sum of capital but the indicated 1,000USD is actually equivalent to 10USD only. Think about it.3) Fancy description is what drive naive subscribers into thinking the author is a professional. "Many years of experience... investing this and that...a banker...or whatever...'; think about this if a professional really wanted to sell his service for 20, 30 or 40 USD? to earn you huge profit? Please be realistic...Think twice and seriusly before subscribe, not to put your money at risk...
Three variables are available for every strategy, any one of them can be disabled, their period can be changed.
type_order=ORDER_FILLING _FOK - order filling type.
ReverseTrade=false — trades opens in reverse direction if true. ExitOnBar=true — trades close on each bar only. spreadcover=false — Spread you pay includes in profit trades. It's like trade with zero spread but you should remember that it can decrease exact match between tester's result and live one. It
This is a half scalping system that analyzes the market using a transmission function. The system can be scalping or not depending on the "takeprofit" and "stoploss" parameters.
This Expert Advisor is intended for trading on EURUSD, however it can work on other currency pairs. You should use timeframe M1 for trading.
You should optimize only two parameters: Seconds_to_move and TradePrice. It is sufficient to optimize Bobra Adept only once, for example, for a half year period. After that, Bobra
The main purpose of the indicator is to draw the wave marking on the basis of maximum and minimum levels that has been reached on greater, average and smaller period. It starts to draw the point of a possible wave end if the price passes the deviation distance specified in the settings; the point is considered to be formed if the last closed candlestick hasn't made a new exteremum comparing to the previous candlestick. The fact of displaying a digit of a period itself is not a signal. You need t
The indicator represents an additional chart window with a lower time frame where bars are combined into groups that are equivalent in time to main chart time frame. Bars are synchronized by the right hand side of the window, i.e. the time of the last bar in the main window corresponds to the time of the last bar group in the additional window. The maximum number of groups is 16; the maximum number of bars combined into groups in the additional window is 256. Limitations on the numbers are requi
This unique indicator detects reversal signals using price action and volume algorithm. It has also the ability to predict reversal power using the probability of past price movement and past volume analyzed.
To achieve more accurate trading, please use this tool in addition or support to the system you are using. This tool will perform better if combined with the right strategy.
To further boost the efficiency of this tool, you can combine this with FxGlow Zone Barr
Cluster analysis of volumes is now available in MetaTrader 5!
The YuСlusters indicator is a professional tool for analyzing the trading volumes. The cluster graph is plotted based on tick data. For the exchange financial instruments these are the volume, type and price of a deal. For the Forex instruments - the real or tick volume (depending on the broker) and Bid price.
There are 6 criteria of cluster generation:
Time interval, the criterion is set in seconds. Price range, the criteri
The indicator automatically plots and tracks buy and sell Fibo levels at any symbol and timeframe.
the trend on all timeframes and indicators values.
Fibo levels of the probable upward or downward price movements.entry points are shown using "up arrow", "down arrow" icons. The data is doubled on SELL and BUY buttons.rectangle area limited by levels 0-100. Trading is performed from one level to another (no trend).Features
calculation of the trend of indicat
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
This trading panel has been developed for fast and comfortable operation of the financial markets. It is equipped with the necessary functions for manual and semi-automated trading. Due to the presence of the order trailing feature, trailing stop and automatic closure by equity, profit, time. You can use it to automate your trading system. All you have to do is open a position and set the parameters for maintenance, everything else will be handled by the EA. If you want to limit your losses, set
Easy Order is an Expert Advisor allowing you to enter any type of trade with one click based on your RISK preferences.
You can choose to enter a trade and automatically calculate your lot size based on how much of your account you want to risk. Risk is calculated based on your Stop Loss placement. You can use a fixed lot size if you don't want to use risk based calculation of lot size. Your previous setting of risk based or fixed lot size remains saved for your next use of this Expert Advi
Fast Copy MT5 allows you 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
MT4 → MT5 MT4 → MT4 MT5 → MT5 MT5 → MT4
* For the MetaTrader 4 terminal — Fast Copy MT4
* For the MetaTrader 5 terminal — Fast Copy MT5
** Before the purchase, you can test the program by downloading the free demo versions — Fast
The indicator is based on the comparison of the correlation of trading instruments following an original algorithm. It determines the difference between correlated contracts (delta). The greater the difference, the more it is likely that this Delta will return to zero.
More suited to the FORTS market.
The greater the deviation from zero, the more it is likely that the price will return to zero. Also, the indicator divergence can be applied by comparing highs and lows.
The EA implements a reversal strategy which uses the analysis of prices databases of ENUM_APPLIED_PRICE type for generating signals. Statistical observations of the price databases of different timeframes allows to make an assumption about a possible vector of price movement. The probability of such an event is shown as scale and as a percentage. The functionality of the trade panel allows sending requests for the broker to execute trading operations. This EA uses market orders. You can addition
The Synchronized Charts script allows comparing bars of different symbols or different periods of the same symbol.
Attach the script to a chart and move bars or change the scale, all opened chart will move synchronously with the current one. The bars on different charts aligned to the border according to their open time.
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.
Active Lines helps you easily organize various tr
Addition to the standard Relative Strength Index (RSI) indicator, which allows to configure various notifications about the events related with the indicator. For those who don't know what this indicator is useful for, read here. This version is for MetaTrader 5, MetaTrader 4 version - here.
Currently implemented events:
Crossing from top to bottom - of the upper signal level (default - 70) - sell signal. Crossing from bottom to top - of the upper signal level (default - 70) - sell sign
This script help user record the value of Moving Average and OHLC at the moment once deals happen.
The datas save as .CSV format file so you can quantitative analysis someone's trading.
Please input value of MA's parameters you like. It tells you the path of data file when script is stopped.
Find double top and double bottom reversal chart patterns easily with this indicator.
Easy to use Customizable colors and sizes It implements breakout signals It implements alerts of all kinds
Indicator Settings - The amplitude represents the size of the patterns to be found. The max. history bars parameter is the amount of bars in the chart to look back.
Less bars to evaluate means the indicator will load faster. Patterns - Choose the colors of the patt
Another breakthrough. Using the legendary BBSO range trading module the no 1 ROBOT AND THE AMAZING SPEED OF METATRADER 5, this scalper generates a lot of quick trades in and out using the strongest point of BBSO the ENTRY.
Self-optimizes in seconds ANY Pair on any timeframe (always check with Olivier Nomblot for current settings and pairs).
No special CPU needs or fast internet connections or set files or strategies or complicated parameters. Adapts to your broker... just drag on your screen.
Displays divergence for any custom indicator. You just need to specify the name of an indicator name; on default it uses CCI.
In addition you can set smoothing for the selected indicator as well as levels. If one of these levels is crossed, you'll receive a notification. The custom indicator must be compiled (a file with extension EX5) and it must be located in MQL5/Indicators directory of the client terminal or in one of its subdirectories. It uses zero bar of the selected indicator with defau
The economic calendar is made in the form of an Expert Advisor that downloads the data from one of the most popular Forex sites (forexfactory.com/calendar.php). The data is presented in two ways. The first (primary) is represented as icons with detailed information about the event. The second is displayed as a line with a news description. Economic Calendar downloads published news in real mode with the possibility to adjust the spacing of data validation and user-friendly customizable graphical
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
Chart Overlay indicator displays the price action of several instruments on the same chart allowing you to evaluate how differently currency pairs fluctuate relative to each other.
Find overbought or oversold currency pairs easily Plot up to 6 currency pairs overlayed on the same chart Display inverted symbols -if you want to- Adapts to chart size, zoom and timeframe Symbols can be plotted as bars or line charts The size of the overlay chart is customizable Automatic price
EasyPen is designed as beautiful and innovative way to create and manage all your chart analysis, scribbles, notes and more. The app takes advantage of new MQL5 technology to offer an experience unseen in the other apps or in older MQL versions.
An App That Changes Everything
There is no existing drawing app that allows the level of customization that EasyPen offers. Change color of your pen, choose brush size, save drawings, keep drawings attached to specific position in chart, and more. With
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 marke
The Expert Advisor for increasing (or opening) market positions.
Allows specifying the desired risk, target and searching for the best open price and trade volume.
It is included in the ActivePanel product.
Purpose and functions of the indicator
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 OandaX product series is designed to display additional data on orders and positions provided by the Oanda FxLabs service.
The OandaX Download Manager EA is included in the OandaX product series and is designed to download data for all OandaX indicators running in the terminal.
To test your trading strategies and for historical data analysis, you can use free OandaX 5 Download Manager BETA. It is similar to Download Manager but provides data with a delay for a day.
Note. The EA uses WebRe
The indicator shows the relative "strength explosion" of a selected currency. An additional "limiting" channel is used for filtering the indicator values.
VolatilityPeriod - period to analyze currency volatility, MainPrice - price used for calculation main values of the indicator, FastPeriod - fast period for calculation, FastMethod - method of smoothing of the fast line, SlowPeriod - slow period for calculation, SlowMethod - method of smoothing of the slow line, SmoothingPeriod - resul
The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
You have detailed some very telling points of scam signals' modus operandi.
This is an excellent article - short and sweet. Thank you! I wish I had read this article before I subscribed to all those scammy signal providers...
I totally agree. Trading is like a sea full of sharks. I hope your warning will be listened by a lot of people before buying a signal provider.
Thank you for your thread - its definitely got me thinking. I have recently noticed that there are some high-profit/growth signals on here for which I have downloaded the trading history.
I have can see in their trading history that they have a very high percentage of profitable trades (>90%) and extremely high profit. When one inspects their trading history it is evident that they have placed many trades of the same type, size, etc in rapid succession and closed them out again in rapid succession. Obviously one would ask the questions why it is necessary to open multiple positions of the same type rather than just open a single, larger position (?).
Something that I am struggling to understand is that even though many of the trades are "copies" of each other, the fact remains that a substantial proportion of the "unique trades" are profitable. Does this mean that the signal provider is opening many, many accounts and basically guessing trades, then gradually trimming down the list of accounts to those which made good statistics, then presenting it as a signal on here?
I thought that MQL5.com would only display the signal history for the signal during the time its been live as a broadcast signal on MQL5. So a scammer cannot develop a system offline until they have one that has a nice history, then broadcast their signal on MQL5.com with that history that was "recorded offline" (?). This means that even if the signal is repeating many trades then even though many of those trades are copies of themselves, they were broadcast legitimately (i.e. they were posted live on MQL5 without already knowing what the outcome of the trade would be), and to me this would mean that the only advantage of posting multiple copies of the same trades is to make the trade history of the signal look longer than it really is.
As an example, check out the this signal here:
The signal has an outrageous profitable trade percentage and pips earned vs lost. The signal is also reported as having 1047 completed trades. Inspection of the history log file shows that those trades are actually executed in batches of 3-8 trades that are of the same currency symbol, so really there are approximately maybe 150-200 unique trades. The thing is that 90% of those trades must still be profitable (because the rest are just copies) and so either the signal provider is unusually skilled at placing trades, in which case I cannot understand why they would want to sell their system for $20, or it means that they are somehow able to post results retrospectively after the outcome of the trade is known, and I dont think MQL5's platform allows someone to do that.
Id be interested to hear your thoughts. I am not claiming that they are definitely scammers, and I am not claiming that they definitely arent - their results certainly seem too good to be true but surely the MQL5 administrators would know that a signal provider is "up to something" if they have multiple accounts waiting to filter it down to the one that gives good results?
Apologies if my post doesnt make sense!
It's easy to fake the statistics, especially with cent accounts. Your observations are correct! Everybody can set up a series of accounts and choose the best one to be published.
But there is one very important thing to consider when you evaluate an SP:
4) Difference between "Growth" tab and "Equity" tab.
I can have a seemingly excellent system (no cent account), which has 40+ weeks old.
But if I load it into MQL5, today???
There is no way to know the real (previous) statistics about the drawdown (the most important parameter in my view).
I dare you to take most of the top SP here and don't overlook these discrepancies.
Suddenly, the monthly return decreases and the drawndown increases. Almost always!
Starting from the most followed SP at the moment...
This is a clear example of.
Age: 12 weeks
Equity age: 1,5 weeks (from $10k to $10,2K; real ROI = 2% out of 10 days vs nearly 35% weekly avg.)
What has happened in the other weeks where it was not possible to monitor the system?
It might also have been a 99% of drawndown.
Not given to Know!
Thanks for your reply Mirko,
Im still not sure I understand how the signal provider is able to manipulate their equity graph. How can MQL5 claim that they have been posting real trades for 12 weeks but only allow them to post 7 days of equity information?
Surely if MQL5 is logging real trades, then it will have to log both and there is no way for the SP to cheat?
As an example, suppose I have been testing a system on my real money, home account on MT4 for the past 50 weeks, and its doing really really well. If I was to create a signal today to broadcast my trades, is it not correct that MQL5 would NOT let me upload the historical trades as proof of my signal (because I could have manipulated them) and actually my signal would start reporting from "trade 1" today and I would have to effectively build up my track record on this site?
Apologies if I am being a bit slow!
No manipulation of. Statistics missed due to upload occurred later.
MQL5 starts monitoring equity when have a way to monitor the system.
But if you will use hedging-grid and/or martingale and/or (especially) 100% winrate system ... There is no way to keep track of the real drawndown outside real-time track monitoring.
Ultimately, due to lack of all the data, mql will consider only closed positions in order to establish the drawdown.
Aha, I think Im with you now!
So the key point is that only closed trades can be tracked by MQL5 and therefore only closed trades ever feature in MQL5's equity, balance, etc curves. So thats why the SPs will use cent accounts - because its very cheap to leave positions open for a long time because one can wear the losing trade for a long time.
Fortunately I now have a live tracker so I will be able to record all trades and real draw down for any signal and hopefully will separate the chaff from the wheat! Ill keep you posted with results :)
Thank you again for your help and patience Mirko!
Providing that the system is not monitored by mql.
Once uploaded even open positions (floating or not) are computed to determine the "true" drawndown.
Thus one or more positions that catch up a drawndown are recorded (even though them are recovered and closed in positive) and the relating data are (with a reasonable degree of certainty) reliable.
SP can no longer hide :)
My pleasure, Paul.
Have a nice day.
I advise that if the signal make a negative performance or no any trades in a month, subscribing fee should be returned for that month.