Market Condition Evaluation based on standard indicators in Metatrader 5 - page 19
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Breakout for USD H1 timeframe is going right now:
Possible breakout for USDJPY H4 may be soon - we just need to wait one more bar to be closed (1 bar on H4 timeframe = 4 hours sorry :) ), and we need to be sure that price will cross 3 trendlines. Do you see 2 lines with yellow color on the image? There are 2 s/r/trend lines. So, we will have real breakoutr for USDJPY H4 when the price will cross those 2 lines on close bar.
Breakdown may be started for EURUSD H4 timeframe (and it is already going on for H1 timeframe).
Just for the traders who are thinking that the quotes/data is same for any broker - example with the charts - just compare the candles for open/close/high/low of Metaquotes demo (upper image) with Alpari UK (lower image):
Breakdown may be started for EURUSD H4 timeframe (and it is already going on for H1 timeframe).
Just for the traders who are thinking that the quotes/data is same for any broker - example with the charts - just compare the candles for open/close/high/low of Metaquotes demo (upper image) with Alpari UK (lower image):
By the way - it is related to any broker and to any accounts irrespective off - real/live account or demo for example.
That is why we can see some discussion between the coders and traders:
If the coder can not reply in details so it seems he did not test his idea and he is talking just theoretically about his "profitable EA".
I am talking about real data/quotes which is coming from broker's server to our MT5 charts.
Next example with some usual discussion between the coder and professional trader.
I want to say that it is really normal discussion. Why? Because experienced traders want to know more about losing other than profit. Because they want to estimate the risk about their own money.
There is good news for now - AbsoluteStrengthMarket is already uploaded to CodeBase here (in russian language sorry but it will be available in english soon). Just to remind - this is indicator to check market condition automatically in multi-timeframe way. Means: indicator is doing exactly what I described here on this thread about market conditions.
This indicator can be downloaded from english Codebase for now - use this link.
Just for information.
Just some market condition for Monday. I will not write about all the pairs - I will write about something interesting which may be usefull for tomorrow for example.
USDCHF H1 -ranging market condition - see this image with explanation:
USDCHF H4 - it was correction but for now - non-trading market condition:
USDCHF D1 - breakout may be started on open bar; but I do not expext clear price movement as the price is inside Ichimoku clound with ranging market condition:
More complicated situation is for EURUSD.
EURUSD H1 - it was bear market rally.
EURUSD H4 - bear market rally too
EURUSD D1 - non trading days