Market Condition Evaluation based on standard indicators in Metatrader 5 - page 6
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Trading week is started. As a trader - I am trying to analyze all the pairs for market condition just to decide: which pair I will trade next wek? Which possible direction and levels?
I think - most interesting is GBPUSD for now.
Just an example (D1 timeframe):
Just to be more specific (D1 timeframe):
The trend will be bearish if the price will cross the level 1.5992
Bullish trend will be continuing if the price will cross 1.6176
It is ther situation for H4 timeframe:
Just more details:
So, if the price will finally break Ichimoku cloud border so we may be ranging or flat market condition for some time with the resistance levels as 1.6168 and 1.6177. If price will break 1.6194 so we will have bullish for H4.
Levels for downtrend are 1.6087 and finally 1.6035.
So, it is interesting to see where the price will go to next week.
- Bearish for H4 right now (on close bar)
- may be bearish on the future for D1 (tomorrow and the day after tomorrow) - it is ranging condition for now.
- bearish for H1
And I opened the trade few hours ago for GBPUSD (I used Maksigen indicator from this CodeBase here ):
Please find attached the EA created according to 3 Stoch MaFibo system (see page 5 of this thread). I will optimize the settings for this EA one more time just to make a final version of it, and after that - we will come back to Scalp_net system to create EA for it with the parameters optimized.
Just for information.
ND, did backtest but no positive result. Could you pass the parameters?
Some Metatrader statement attached for manual trading using Maksigen indicator only (see CodeBase entry here).
About scalp_net_v3 (see this post and this one) - I created EA using Molanis builder and I am optimizing the settings for now. Just for information. I will upload everything when ready. And some more news: MaksiGen indicator was published in english CodeBase - MaksiGen_Range_Move MTF . Thanks to Igorad for improvement and conversion of this great indicator.
This is EA (attached) and optimization results (attached too). EURUSD M5 timeframe.