Market Condition Evaluation based on standard indicators in Metatrader 5 - page 19

Sergey Golubev
Moderator
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Sergey Golubev  

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.

 

Sergey Golubev
Moderator
114338
Sergey Golubev  

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):

 

 

Sergey Golubev
Moderator
114338
Sergey Golubev  
newdigital:

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:

  • Coder: "I created good EA and it is profitable"
  • Trader: "Which broker it was created for? is it profitable for which broker?"

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. 

Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Account Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Account Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Environment State / Account Properties - Documentation on MQL5
Sergey Golubev
Moderator
114338
Sergey Golubev  

Next example with some usual discussion between the coder and professional trader.

  • Coder: "I created good EA and manual trading system and it is profitable".
  • Trader: "I am very interesting in it. Can you tell me - what is bad in your system? Where and when can I lose money using your system? Do not tell me about profit, ok? Tell me when and when I will lose".

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.

 

Sergey Golubev
Moderator
114338
Sergey Golubev  
newdigital:
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. 

Sergey Golubev
Moderator
114338
Sergey Golubev  

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:


Sergey Golubev
Moderator
114338
Sergey Golubev  

More complicated situation is for EURUSD.

EURUSD H1 - it was bear market rally.


EURUSD H4 - bear market rally too


EURUSD D1 - non trading days



Sergey Golubev
Moderator
114338
Sergey Golubev  
Breakout for USDCHF and breakdown for EURUSD is possible but I think that if it's happened so it will be in the middle of the next week sorry.

Sergey Golubev
Moderator
114338
Sergey Golubev  
About bearish and bullish 9as a primary trend), and about bear market rally and correction (secondary trend) - you can read the thread in the beginning, or ... of you want very short explanation about "what is that" - use this page from wikipedia. It will give you a clue about those market conditions.
Market trend - Wikipedia, the free encyclopedia
Market trend - Wikipedia, the free encyclopedia
  • en.wikipedia.org
A market trend is a tendency of a financial market to move in a particular direction over time.1 These trends are classified as secular for long time frames, primary for medium time frames, and secondary for short time frames.2 Traders identify market trends using technical analysis, a framework which characterizes market trends as predictable...
Sergey Golubev
Moderator
114338
Sergey Golubev  
So, more detailed analysis I can make on Monday evening only because the situation is very knotty for now for EURUSD and USDCHF.
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Symbol Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Environment State / Symbol Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Environment State / Symbol Properties - Documentation on MQL5