Market Condition Evaluation based on standard indicators in Metatrader 5 - page 241

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

All About Price Action

Sergey Golubev, 2025.04.16 11:15

Price Action Analysis Toolkit Development (Part 20): External Flow (IV) — Correlation Pathfinder

This article explains how to add currency correlation analysis to your trading toolkit. It offers practical insights and actionable strategies to enhance trading performance.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

All About Price Action

Sergey Golubev, 2025.04.29 06:38

Price Action Analysis Toolkit Development (Part 21): Market Structure Flip Detector Tool

This EA tackles one of the toughest challenges in trading: false reversal signals. Choppy price action throws off simple pivot routines, trapping traders in whipsaws. The Market Structure Flip Detector solves this by converting ATR into a flexible bar-count filter. It ignores minor swings, captures only valid highs and lows, and then flags a bearish flip when a higher-high becomes a lower-high or a bullish flip when a lower-low turns into a higher-low.

[Sergey Golubev]

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All About Price Action

Sergey Golubev, 2025.05.13 09:35

Price Action Analysis Toolkit Development (Part 22): Correlation Dashboard

Correlation is a statistical measure of how two variables move in relation to one another. Financial markets reflect the degree to which two instruments rise and fall together (positive correlation) or in opposite directions (negative correlation). Importantly, correlation describes relationships, not causation.

[Sergey Golubev]

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All About Price Action

Sergey Golubev, 2025.05.18 07:35

Price Action Analysis Toolkit Development (Part 23): Currency Strength Meter

In this article, we will develop an MQL5 tool that measures currency strength by analyzing each symbol’s performance across multiple pairs. This approach enables you to identify the strongest and weakest currencies reliably, empowering you to trade with greater confidence.

[Sergey Golubev]

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All About Price Action

Sergey Golubev, 2025.05.23 05:27

Price Action Analysis Toolkit Development (Part 24): Price Action Quantification Analysis Tool

We’ve developed the Price Action Quantification Analysis EA for MetaTrader 5 to address this challenge. This Expert Advisor:

1. Automatically scans a configurable number of recent bars for four widely respected price‑action patterns.
2. Marks each detected pattern on the chart with arrows and labels, offering clear visual cues.
3. Issues alert and records the subsequent bar’s pip movement to help you gauge signal strength.
4. Provides built‑in backtest statistics by treating each pattern as a “trade” and calculating an overall win rate.

In the following sections, we’ll dive into the EA’s structure, walk through its customizable settings, and show how its performance metrics can sharpen your price‑action trading approach. Let’s start by exploring the specific candlestick patterns this EA watches for, examining each candle’s anatomy and the calculations used to pinpoint them.

[Sergey Golubev]

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All About Price Action

Sergey Golubev, 2025.06.06 12:32

Price Action Analysis Toolkit Development (Part 26): Pin Bar, Engulfing Patterns and RSI Divergence (Multi-Pattern) Tool

In my previous article, I focused on identifying four candlestick formations: pin bar, doji, engulfing, and marubozu. These patterns were used to generate buy or sell signals immediately upon recognition. However, this approach sometimes produced false signals because the confirmation relied solely on pattern recognition without additional filters.

This article introduces a new tool that concentrates on two key patterns: pin bar and engulfing. These patterns are combined with RSI divergence to confirm each signal. RSI divergence is a tool I developed in the past as a standalone indicator based on price action. By integrating pattern recognition with RSI divergence, we create a more robust and powerful analytical method, offering more profound insights and improving trading accuracy through comprehensive price action analysis.

[Sergey Golubev]

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All About Price Action

Sergey Golubev, 2025.06.11 15:28

Price Action Analysis Toolkit Development (Part 27): Liquidity Sweep With MA Filter Tool

In this article, we will develop an MQL5 Expert Advisor designed to identify liquidity sweeps as they unfold. The EA begins by analyzing candles that break below or above previous swing points, then close back within the range, indicators of potential liquidity absorption. It incorporates optional filters, such as candlestick color changes or moving average confirmations, to ensure the signals align with your market bias. When a valid pattern is detected, the EA visually marks it on the chart with arrows or labels and generates an alert.

By the end of the tutorial, you will have a comprehensive, clear, and straightforward Expert Advisor highlighting liquidity sweeps immediately. You will learn how the EA detects these specific market patterns, how it employs filters to reduce false signals, and how it helps you stay aligned with the actions of the smart money. With this tool in your arsenal, you can anticipate institutional moves before they trap your stop-loss, providing a strategic advantage in any trading environment.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

All About Price Action

Sergey Golubev, 2025.06.21 03:40

Price Action Analysis Toolkit Development (Part 28): Opening Range Breakout Tool

A breakout occurs when price decisively moves beyond a clearly defined boundary, such as the high or low of the session’s opening interval, signaling that supply or demand has overwhelmed the opposite side. Spotting genuine breakouts is essential because true breakouts often mark the start of sustained trends, while false breakouts, if acted on prematurely, lead to whipsaw losses.

The Opening Range Breakout (ORB) strategy addresses this by first capturing the upper and lower limits of that opening interval (configurable to any duration) and shading the range on the chart as a rectangle. These bounds serve both as visual landmarks and precise trigger levels. Only when price breaks beyond the rectangle, revisits that boundary, and breaks out again does the strategy confirm entry, filtering out noise and isolating moves driven by actual market conviction.

[Sergey Golubev]

Automating Trading Strategies in MQL5 (Part 23): Zone Recovery with Trailing and Basket Logic

In our previous article (Part 22), we developed a Zone Recovery System for Envelopes Trend Trading in MetaQuotes Language 5 (MQL5), using Relative Strength Index (RSI) and Envelopes indicators to automate trades and manage losses through structured recovery zones. In Part 23, we refine this strategy by incorporating trailing stops to dynamically secure profits and a multi-basket system to efficiently handle multiple trade signals, thereby enhancing adaptability in volatile markets.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

MetaTrader 5 Python User Group - the summary

Sergey Golubev, 2025.07.15 05:49

Price Action Analysis Toolkit Development (Part 31): Python Candlestick Recognition Engine (I) — Manual Detection

Candlestick charts are a fundamental tool used by financial analysts and traders to visualize and interpret price movements over time. Originating from Japanese rice merchants centuries ago, these charts have evolved into a vital component of technical analysis across various financial markets, including stocks, forex, and futures.