Forum on trading, automated trading systems and testing trading
Sergey Golubev, 2017.04.17 20:05
Just to remind about interesting indicator: FivePattern
- indicator for MetaTrader 5
This is the indicator to show М & W Wave Patterns by Merrill and support/resistance levels.
===============About Merill Patterns:This is Merrill's patterns for downtrend:
Merrill's patterns for uptrend:
And this is some other patterns:
Good article was published -
Strategy builder based on Merill patterns
In the previous article, we considered application of Merill patterns to
various data, such as to a price value on a currency symbol chart and values of standard MetaTrader 5 indicators: ATR, WPR, CCI, RSI,
among others. A graphical interface was developed to explore this idea. The main purpose of the interface is to test and find efficient
pattern use methods. Further, the found successful configurations should be built into trading strategies and tested. In this
article, we will develop a basic toolkit for building trading strategies and testing them.
Table of contents
Four Weeks - indicator for MetaTrader 4
Support and resistance lines formed by closing prices of the last 4 bars of the selected period.
Pending Specified Time OHLC Max Min - expert for
The EA starts working at the specified time: Start Hour :: Start Minute . At the time of starting work in
the market, there should not be pending orders placed by this adviser and positions. If the condition is met, then the adviser begins to
search for the maximum and minimum prices in the section of "
Number of bars ". At the maximum, a pending Buy stop will be set, and at a minimum - Sell stop.
When one of the pending orders is triggered, the second, which failed, is immediately deleted.
Pending Specified Time OHLC Max Min - expert for MetaTrader 5
Is it really helpful? Looks like ads
This is CodeBase - the EA which was coded for this portal today (promotion of the Market
products and the Signals is prohibited on the forum; but we all can promote the Articles
----------------As I remember - many users asked for the support/resistance EA based on the pending orders placed on specific
period of time.
For example - there is Maksigen indicator here for MT5 which was converted
from MT3 and from MT4. And the users asked the EA based on support/resistance lines placing the pending orders (buy stop and sell stop). And
finally - this EA was created today for MT5 and posted by source code to the
CodeBase.This EA may be used in news trading or in usual trading on breakout/breakdown for
By the way, there is the summary post on/of this thread (just to find everything ine asy way here):
Market Condition Evaluation
(2 EAs were created)
Perfect Trend Line 2 - indicator for MetaTrader 5
This is a variation of a well known perfect trend line indicator (one of the versions can be found here PTL)
This version is adding a sort of signals filtering which helps in cleaning up some false signals that are there in the original version.
First of all - look at the following summary post (the beginning of this post means - for MT4):
Market Condition Evaluation (2 EAs were created)
As I understand - you are talking about this system:
PriceChannel ColorPar Ichi system.
It is nothing special related to MT4:
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