Market Condition Evaluation based on standard indicators in Metatrader 5 - page 40

Alain Verleyen
38707
Alain Verleyen  
newdigital:

NFP is Non-farm Payrolls

Screenshot of one of the best forex news indicator - we really need some news indicator for MT5 because ecomonic calendar feature in MT5 is not easy (difficult) to use for trading for example. Or MT5 calendar feature should be improved. 

What is it difficult ?
Sergey Golubev
Moderator
114338
Sergey Golubev  
  • can not sort the news events by high priority/ low priority and medium priority
  • can not define the events by priority
  • can not sort them by pairs
  • can not see USD only, or EUR only for example
  • can not estimate the priority by myself
  • can not see horizontal lines on the chart where news events will be happened
  • can not see the discription of those lines
  • can not see the time of my broker compare with GMT time
  • can not trade the news events by good public EA (on the same way as I can do it for MT4 for example)
  • visualization ... i am sorry but it is nothing with MT5 for now about what the trader can expect

As a results - the traders are using this MT5 calendar just for information only and it is very difficult to use it for trading.

=========

I traded forex news events for the long time by EA (public EA) and I know many good news indicators to use. But all of them for MT4 sorry.

It was NFP today ...  

Alain Verleyen
38707
Alain Verleyen  
newdigital:
  • can not sort the news events by high priority/ low priority and medium priority
  • can not define the events by priority
  • can not sort them by pairs
  • can not see USD only, or EUR only for example
  • can not estimate the priority by myself
  • can not see horizontal lines on the chart where news events will be happened
  • can not see the discription of those lines
  • can not see the time of my broker compare with GMT time
  • can not trade the news events by good public EA (on the same way as I can do it for MT4 for example)
  • visualization ... i am sorry but it is nothing with MT5 for now about what the trader can expect

As a results - the traders are using this MT5 calendar just for information only and it is very difficult to use it for trading.

=========

I traded forex news events for the long time by EA (public EA) and I know many good news indicators to use. But all of them for MT4 sorry.

It was NFP today ...  

Good list :-) Do you write to ServiceDesk to make these suggestions ?
Sergey Golubev
Moderator
114338
Sergey Golubev  
This is related to good project  ... I mean: all those improvements are not easy to do. I hope they will improve it.
Sergey Golubev
Moderator
114338
Sergey Golubev  

Because I (as any trader) like to estrimate by myself:

  • what is high impacted news events for me,
  • what is the time of my chart (broker's time) compare with GMT for example),
  • and I want to trade it by placing 2 pending orders (sell stop and buy stop) 2 or 3 minutes before high impacted news events,
  • or avoid any trading during the some "risky interval" using some feature such as "close all open trades 2 minutes before high impacted news events = true"

There are very big community which are trading/using/discussing just forex news events only. And all those trading/discussions/usings are going to be outside our MT5 community for now. Just because of this economic calendar which is difficult to use for trading. 

Sergey Golubev
Moderator
114338
Sergey Golubev  
I tried to find the pairs and direction to trade for the next week - could not sorry. Because price was moved a lot on Friday and we need to wait for Monday afternoon to understand about where the priars will be moved too. because I think - it will be flat or secondary trend for the most of the pairs up to the middle of the day tomorrow.
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
Sergey Golubev
Moderator
114338
Sergey Golubev  

I see just interesting situation for EURUSD D1 (it may be possible breakout at the end of this week) and USDCHF D1 (possible breakdown was started on open bar).

Will see how the situation will be developed. 

Sergey Golubev
Moderator
114338
Sergey Golubev  

well ... this is the situation for EURUSD D1:

  • breakout may be started on open bar
  • Tenkan-sen and Kijun-sen lines (blue/red lines) did not cross with each other
  • primary trend is bearish anyway and this future possible breakout may be just secondary market rally 

 

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.04.08

MetaQuotes Software Corp., MetaTrader 5, Demo

EURUSD D1 possible breakout

EURUSD, D1, 2013.04.08, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  

This is the situation for USDCHF D1:

  • primary trend is bullish
  • Chinkou Span line crossed the price for breakdown but on open bar only; seems - USDCHF will lead the possible situation with EURUSD/USDCHF
  • Kijun-sen and Tenkan-sen lines crossed with each other for breakdown but on open bar only
  • If breakdown so it may be just secondary correction 


USDCHF, D1, 2013.04.08, MetaQuotes Software Corp., MetaTrader 5, Demo

Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Indicators Lines
Documentation on MQL5: Standard Constants, Enumerations and Structures / Indicator Constants / Indicators Lines
  • www.mql5.com
Standard Constants, Enumerations and Structures / Indicator Constants / Indicators Lines - Documentation on MQL5
Sergey Golubev
Moderator
114338
Sergey Golubev  
So, a conclusion - we need to wait for at least 1 day just to understand the situation about D1 timeframe.