Market Condition Evaluation based on standard indicators in Metatrader 5 - page 53

Sergey Golubev
Moderator
114292
Sergey Golubev  

Well ... some questions and answers :

=====

Q: what is the most profitable pair to trade the news?

A: GBPUSD

=====

Q: what is the most risky pair to trade the news?

A: GBPUSD

=====

Q: what is the most stable pair to trade the news (consistantly profitable pair for trading news events)?

A: USDCAD

=====

Q: what is less risky pair to trade the news?

A: USDCAD

=====

Thanx for your attention

That's all news

zeno
277
zeno  
newdigital:

But you know - I am using Ichimoku for technical analysis on H1, H4 and D1 timeframe, and my trades here are just an example only. So, it may be useless to have alerts for H4 and D1 timeframe.

As to MaksiGen indicator so - yes, it may be good to have alerts because this indicator is used for M1 and M5 timeframe for trading too.

Hello newdigital,

At this point I don't feel that I can trade Ichimoku on such bigger time frames comfortably yet and I would rather look at those smaller than H1, with possible confirmation on H4 and D1. So such alerts as those available in previous Metatrader version MT4 would be practical. Could you make such a suggestion to your team?

Many thanks. 

Sergey Golubev
Moderator
114292
Sergey Golubev  

Just about the next news events -

2013-06-28 13:45 GMT | [USD - Chicago PMI Index]

2013-06-28 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]

I traded it now and it is the results: +33 pips

MetaTrader Trading Platform Screenshots

EURUSD, M5, 2013.06.28

MetaQuotes Software Corp., MetaTrader 5, Demo

temp_file_screenshot_6969.png

EURUSD, M5, 2013.06.28, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114292
Sergey Golubev  

Hi zeno,

as to lower timeframe ... the default settings of Ichimoku is 9/26/52, right? But it is mainly for higher timeframe (started from H1 for example). For lower timeframe - there are 2 kinds of settings:

  • 9/26/52 as default one and/or
  • 72/144/288

=========

Besides, there are many signals of Ichimoku indicator to open the trades. I know about 6 signals (but it is much more signals in combination with each other):

  • Tenkan Sen / Kijun Sen Cross - very weak signal but it is coming as the first one ... but it may be a lot of false signals
  • price crossing Kijun Sen - more strong signal
  • price crossing Sinkou Span A line (Kumo Breakout)
  • price crossing Sinkou Span B line (Kumo Breakout)
  • Senkou Span A crossing the Senkou Span B (trend reversal)
  • Chikou Span crossing historical price - it is most strong signal for Ichimoku but it is lagging on timeframes started with H1, and not lagging for lower timeframes.

The combination of all those 6 signals = Ichimoku indicator.

So, the request about alert ... it is the request to create alet for all those signals with combination with each other? if yes so it is big project ... I do not have the credits in my profile for all those alerts (which may be - more than 100 different variations)  :) ... if you are talking about some particular signal so - it may be possible to make alert.

I am mostly using on the thread just one signal : Chikou Span crossing historical price. So, which signal to be alert?

Sergey Golubev
Moderator
114292
Sergey Golubev  

If you are talking about standard/default alert in Metatrader 5 so we can use it the following :

- right mouse click and ...



- and you can see alerts here :


And right mouse click (see second image - above one) - and we can modify alert and so on ...

Sergey Golubev
Moderator
114292
Sergey Golubev  

I am making the preparation for the technical analysis thread and I think - most interesting pair may be EURUSD for the next week. Just look about Chinlou Span line (light blue line on the left of the chart) - this line is came very close to historical price indicating future possible breakdown :

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.06.29

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd d1

EURUSD, D1, 2013.06.29, MetaQuotes Software Corp., MetaTrader 5, Demo


Exact opposite situation is for USDCHF : future possible breakout :

MetaTrader Trading Platform Screenshots

USDCHF, D1, 2013.06.29

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf d1

USDCHF, D1, 2013.06.29, MetaQuotes Software Corp., MetaTrader 5, Demo




=========

So, those are the news events (except Speeches as we know about time for Speeches on Monday only sorry) which may be affected on EURUSD price movement for the next week :

2013-07-01 01:00 GMT | [CNY - Manufacturing PMI]

2013-07-01 09:00 GMT | [EUR - Consumer Price Index (CPI)]

2013-07-01 14:00 GMT | [USD - ISM Manufacturing PMI]

2013-07-02 09:00 GMT | [EUR - Producer Price Index (PPI)]

2013-07-03 09:00 GMT | [EUR - Retail Sales]

2013-07-03 12:15 GMT | [USD - Automatic Data Processing Employment Change (ADP Employment Change]

2013-07-03 12:30 GMT | [USD - Trade Balance]

2013-07-04 11:45 GMT | [EUR - ECB Interest Rate Decision]

2013-07-04 12:30 GMT | [EUR - ECB press conference]

2013-07-05 10:00 GMT | [EUR - German Factory Orders]

2013-07-05 12:30 GMT | [USD - Non-farm Payrolls]


Sergey Golubev
Moderator
114292
Sergey Golubev  

Forum

Press review

newdigital, 2013.07.01 07:44

Just about the following news event which we had at 23:50 GMT yesterday or 01:50 MQ time today :

2013-06-30 23:50 GMT | [JPY - Tankan Large Manufacturing Index]

==========

BoJ Tankan: Large Manufacturers Index +4 In Q2 :

An index measuring business sentiment in Japan surged in the second quarter of 2012, the Bank of Japan revealed on Monday in its quarterly Tankan business survey.

The large manufacturers index came in with a score of 4, beating forecasts for a 3 and up from -8 in the first quarter. The outlook score was 10, also beating expectations for a 7 and up from -1 in the previous three months.

The large non-manufacturers index was at 12, surpassing expectations for 11 and up from 6 in Q1. The outlook score was 12 versus forecasts for 14 and up from 9 in the three months prior.

Large all-industry capex is now seen at 5.5 percent, well above forecasts for 2.9 percent after falling 2.0 percent in the previous quarter.


MetaTrader Trading Platform Screenshots

USDJPY, M5, 2013.07.01

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy 20 pips

USDJPY, M5, 2013.07.01, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114292
Sergey Golubev  

Just about this news event for GBP which was at 08:28 GMT (or at 10:28 MQ time) - 2013-07-01 08:30 GMT | [GBP - Manufacturing PMI] :

past data was 51.3

forecasting was 51.5

actual data 52.5 according to the latest release

We are using same formula which we used for some other news event : if actual > forecast = good for currency (for GBP in our case).

+58 pips :

MetaTrader Trading Platform Screenshots

GBPUSD, M5, 2013.07.01

MetaQuotes Software Corp., MetaTrader 5, Demo

58 pips

GBPUSD, M5, 2013.07.01, MetaQuotes Software Corp., MetaTrader 5, Demo


zeno
277
zeno  
newdigital:

Hi zeno,

as to lower timeframe ... the default settings of Ichimoku is 9/26/52, right? But it is mainly for higher timeframe (started from H1 for example). For lower timeframe - there are 2 kinds of settings:

  • 9/26/52 as default one and/or
  • 72/144/288

=========

Besides, there are many signals of Ichimoku indicator to open the trades. I know about 6 signals (but it is much more signals in combination with each other):

  • Tenkan Sen / Kijun Sen Cross - very weak signal but it is coming as the first one ... but it may be a lot of false signals
  • price crossing Kijun Sen - more strong signal
  • price crossing Sinkou Span A line (Kumo Breakout)
  • price crossing Sinkou Span B line (Kumo Breakout)
  • Senkou Span A crossing the Senkou Span B (trend reversal)
  • Chikou Span crossing historical price - it is most strong signal for Ichimoku but it is lagging on timeframes started with H1, and not lagging for lower timeframes.

The combination of all those 6 signals = Ichimoku indicator.

So, the request about alert ... it is the request to create alet for all those signals with combination with each other? if yes so it is big project ... I do not have the credits in my profile for all those alerts (which may be - more than 100 different variations)  :) ... if you are talking about some particular signal so - it may be possible to make alert.

I am mostly using on the thread just one signal : Chikou Span crossing historical price. So, which signal to be alert?

Hello newdigital,

Thank you for following this up. I found an earlier discussion on MT4 with multiple alerts already available, so that could be a basis to start off with. For example, http://www.forex-tsd.com/metatrader-4/1139-ichimoku-alert.html#post11355 discusses this. To reduce the number of possible combinations as you mention, we could reduce that to the 2 strongest signals, such as with Chikou Span crossing historical price and e.g. Senkou Span A crossing the Senkou Span B or price crossing Kijun Sen - which one combination would be strongest signal?

Ichimoku provides with all those signals a great picture, but keeping track on all of them requires so much attention that with such an alert on say 2 it will certainly help. Thanks so much.

Ichimoku Alert
  • www.mql5.com
Join Date Dec 2005 Posts 69 Points 141 Credits 0 Post Thanks / Like vBActivity - Stats vBActivity - Bars Lv. Percent 34.43% Daily Activity 2.7%Weekly Activity 0.77%Monthly Activity 1.83% Ichimoku Alert Hi, I have been looking everywhere to find an alert for...
Sergey Golubev
Moderator
114292
Sergey Golubev  

Hi zeno,

As I see - you are talking about indicator developed by Igorad for Metatrader 4 with the following alerts:

  • AlertMode = 0 - no alert;
  • AlertMode = 1 - Tenkan crosses Kijun;
  • AlertMode = 2 - Chinkou crosses Price;
  • AlertMode = 3 - both together.

Tenkan Sen / Kijun Sen Cross - this Ichimoku signal is coming first in most of the cases, not lagging and it is not strong signal. There are few EAs for MT4 using this signal only.

Chikou Span crossing historical price - this is last signal, lagging on higher timeframes, but it is most strongest signal in Ichimoku.

So, we can start with first (Tenkan crosses Kijun) and with last (Chinkou crosses Price). Just my proposal.