Market Condition Evaluation based on standard indicators in Metatrader 5 - page 239

[Sergey Golubev]

Building A Candlestick Trend Constraint Model (Part 9): Multiple Strategies Expert Advisor (I)

From the beginning of this article series, our emphasis has been on aligning our experts with the prevailing sentiment of the daily (D1) candles. The shape of the daily candle has served as the primary guiding feature. However, we needed to scale down to lower timeframes to identify entry levels within the D1 market. For example, at the M1 timeframe, we wanted the market to reach extreme levels on the Relative Strength Index (RSI) to signal potential trades for the Expert Advisor. At this early stage, we did not introduce too many strategies to keep the content easy to understand for beginners.

However, there is a vast collection of strategies to study and integrate into the algorithm of our Trend Constraint Expert Advisor. Today, we will take a close look at some well-known strategies developed by influential figures in trading, whom I refer to as the "Market Fathers."

[Sergey Golubev]

Building A Candlestick Trend Constraint Model (Part 9): Multiple Strategies Expert Advisor (II)

In the 20th century, Richard Donchian established a trend-following strategy through his studies of financial markets, which later evolved into the Donchian Channels. We briefly discussed his work in a previous article, but today we will focus on implementing the strategies associated with his theory. According to various sources, the channels are believed to encompass multiple strategies within their framework. The abundance of literature on Donchian Channels suggests the continued effectiveness of this theory in modern-day trading. By integrating Donchian Channel strategies, we aim to expand the opportunities for our Trend Constraint Expert, enhancing both its profitability and adaptability to diverse market conditions.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

All About Price Action

Sergey Golubev, 2024.11.12 07:14

Price Action Analysis Toolkit Development (Part 1): Chart Projector

In this article, titled "The Chart Projector," we focus on developing a tool designed to simplify market analysis, particularly for price action traders. The Chart Projector overlays the previous day's chart onto the current one in a ghost mode representation.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 3): Analytics Master — EA

Having developed the analytic comment script in the previous episode, I have identified its limitations regarding script properties, which I will outline below. While I acknowledge the considerable impact that the analytical comment script has had within the trading community, I have developed an Expert Advisor (EA) called Analytics Master. This EA offers the same analysis while also providing extra metrics for better trading insights. This new tool offers several advantages, including the ability to continuously update metrics every two hours, in contrast to the script, which could only write metric information once. The EA enhances analysis and keeps users updated.

[Sergey Golubev]

Price Action Analysis Toolkit Development Part(4): Analytics Forecaster EA

In this article, we will focus on integrating our broadcast with Telegram to ensure wider access to analyzed information. I chose Telegram for this purpose due to its popularity and accessible interface among traders. Integrating MetaTrader 5 chart updates with Telegram offers significant advantages for active traders. This setup provides immediate access to crucial market information, enhances the user experience, and improves communication. Consequently, you can develop more effective strategies and respond swiftly in a rapidly changing market. With this integration, you can increase your chances of success and make more informed, timely decisions.

[Sergey Golubev]

Building a Candlestick Trend Constraint Model (Part 9): Multiple Strategies Expert Advisor (III)

In algorithmic trading, identifying optimal entry points within a prevailing trend remains a significant challenge, as many strategies struggle to capture the right moment or generate frequent false signals, resulting in suboptimal performance. This issue is particularly pronounced in daily trends, where minor fluctuations can disrupt execution accuracy.

This approach improves trade accuracy and also ensures consistent and efficient trading when combined with the advanced capabilities of MQL5. In this article, we will explore the fundamentals of divergence, the steps to integrate it into MQL5 Expert Advisors, enhancements to the Trend Constraint Expert Advisor with new trade execution conditions, and insights from back-testing to demonstrate its practical application.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 5): Volatility Navigator EA

Navigating the complexities of trading involves more than simply identifying potential market directions; it also demands precise execution. Many traders encounter setbacks not because of poor trade execution but due to inaccuracies in their entry points, stop loss placements, or take profit targets.

To address this challenge, I have developed a new tool called Volatility Navigator using the MQL5 programming language, specifically designed to optimize these critical aspects of trading. Unlike my previous tools that primarily focused on predicting market trends, Volatility Navigator independently identifies optimal entry points, stop loss levels, and take profit targets.

[Sergey Golubev]

Building a Candlestick Trend Constraint Model (Part 10): Strategic Golden and Death Cross (EA)

In this article, we delve into the integration of the Strategic Golden and Death Cross strategies into the Trend Constraint Expert Advisor, unlocking the potential of these time-tested moving average crossover techniques. Our goal is to enhance trend-following capabilities in algorithmic trading by automating these strategies, ensuring precision, consistency, and seamless compatibility with broader trading systems.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 6): Mean Reversion Signal Reaper

In this article, we will develop an MQL5 Expert Advisor designed to identify trading opportunities grounded in mean reversion principles. By utilizing a 50-period Exponential Moving Average (EMA) and the Relative Strength Index (RSI), we will generate precise entry signals that allow us to capitalize on market fluctuations. To make the trading process even more intuitive, our EA will display buy and sell signals as visual arrows directly on the chart, alongside an informative summary detailing the signals.

[Sergey Golubev]

Price Action Analysis Toolkit Development (Part 8): Metrics Board

In the early stages of our series, we released an article titled "Analytics Master," which explored methods for retrieving and visualizing the previous day's market metrics. This foundational work set the stage for the development of more sophisticated tools. We are excited to introduce the Metrics Board EA, an innovative and premium-quality solution that revolutionizes market analysis within MetaTrader 5.