Market Condition Evaluation based on standard indicators in Metatrader 5 - page 73

Sergey Golubev
Moderator
114338
Sergey Golubev  

Forum

Press review

newdigital, 2013.11.14 12:31

2013-11-14 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Retail Sales]

if actual > forecast = good for currency (for GBP in our case)

==========

U.K. Retail Sales Fall In October

U.K. retail sales volume dropped 0.7 percent month-on-month in October due to a notable 1.3 percent fall in non-food store sales, the Office for National Statistics said Thursday.

The drop in sales volume follows a 0.6 percent rise in September. It was forecast to remain flat in October.

Excluding automotive fuel, retail sales volume slipped 0.6 percent, partially offsetting the 0.8 percent rise in September. The rate of decline also exceeded the expectations for a 0.1 percent fall.


MetaTrader Trading Platform Screenshots

GBPUSD, M5, 2013.11.14

MetaQuotes Software Corp., MetaTrader 5, Demo

GBPUSD M5 : 49 pips price movement by GBP - Retail Sales

GBPUSD, M5, 2013.11.14, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
114338
Sergey Golubev  

Forum

How to Start with Metatrader 5

newdigital, 2013.08.04 18:27

If you are totally new to this website and

  • you are programmer and looking for some Job, or
  • you are trader and want to build your strategy/system/indicator/EA so

there are some pages which will help you to start :

  1. How to Order a Trading Robot in MQL5 and MQL4

  2. How to Order an Expert Advisor and Obtain the Desired Result

  3. MQL5.community Payment System

  4. Rules of Using the Jobs Service

Sergey Golubev
Moderator
114338
Sergey Golubev  

How to trade ranging market (based on A Simple Strategy For Ranging Markets article)

Talking Points:

  • Traders should have a plan of action, when Forex trends end.
  • Identify trading ranges by pinpointing swing highs and lows.
  • Oscillators such as RSI can use overbought and oversold levels for market entries.
One rule that should be followed by every trader is to find a trading plan and stick with it. However, any experienced trader knows that they must remain flexible because the market isn’t always trending and moving in a singular direction! So what is a trader to do when some of the Forex markets most frequently traded pairs don’t have an established trend?

The answer itself is quite simple. When the market gives you a range, trade ranges! When markets are moving sideways, it can be easy to adapt one of your trending market strategies to present conditions. Often trending market traders will look to use indicators such as CCI, RSI, or MACD in conjuncture with support and resistance lines to trade market swings. The same philosophy can be used while range trading if you know what to look for.


Above we can see the EURCHF currency pair which has been locked in a trading range since the month of June. The range itself can be identified by moving from left to right on your chart and marking a series swing highs and swing lows. If price appears to be moving in a horizontal line you have probably identified a trading range. Any easy litmus test for a range is to determine if prices are heading higher or lower on your chart. If you find yourself debating if a chart is trending up or down, odds are your graph is trading in a range!


Above, we can now see an 8Hour EURCHF chart in conjuncture with the RSI (Relative Strength Index) indicator. When trading a range, traders can look to use RSI's overbought and oversold levels to determine where to enter the market. Unlike trend traders, range traders do have the ability to trade both sides of the market. This means range traders will look for both buying and selling opportunities.

To sell range traders can trigger orders when price moves off resistance and RSI crosses back below a reading of 70. As momentum returns price lower, traders can focus their targets near the support zone. Price moving towards support will also allow traders to initiate new buy positions. Traders will look to buy in a range as price bounces off support and RSI moves back over an RSI reading of 30. Pricing targets for buy orders will then focus on levels near resistance.
While the EURCHF is not currently trading at support or resistance, traders will wait patiently for the next decline or advance before entering into the market.

A Simple Strategy For Ranging Markets
A Simple Strategy For Ranging Markets
  • Walker England
  • www.dailyfx.com
by every trader is to find a trading plan and stick with it. However, any experienced trader knows that they must remain flexible because the market isn’t always trending The answer itself is quite simple. When the market gives you a range, trade ranges! When markets are moving sideways, it can be easy to adapt one of your trending market...
Mehrdad Shiri
4800
Mehrdad Shiri  

hi; newdigital

excuse me; could you please explain this , i did not understand them, 

 " Chinkou Span line of Ichimoku indicator crossed historical price on close " & " Chinkou Span line is crossing the price on open bar "

1)  what this mean ?

2) what they are say and what is difference ?

thank you for this topic.

and...

absolutestrength_v2.mq5 have a difference with ( may be first version you have on chart ) can you please attache it here (absolutestrength ) ?

absolutestrength_v2 :


this is more clear for me.


Sergey Golubev
Moderator
114338
Sergey Golubev  

About second question - read this post.

First question: close is close bar, open is open bar (open bar is continuing painting)

Chikou Span - Lagging line
The closing price plotted 26 days behind.

The Chikou Span, also known as the Lagging line, is the closing price plotted 26 trading days behind, i.e. into the past, providing an at-a-glance view of how the price compares to that 26 days ago.

The trend is deemed to be upward when the Chikou Span is above the closing prices and downward when it is below them. The relationship is not always clear when looking at historical data, but becomes more obvious when looking at current charts.

The Chikou Span is also considered of use for confirmation of trends, momentum, and support and resistance levels highlighted by the other Ichimoku elements.

Sergey Golubev
Moderator
114338
Sergey Golubev  
As the members asked for old version of AbsoluteStrength indicator I am using so I am uploading it here
Files:
Sergey Golubev
Moderator
114338
Sergey Golubev  

And this is whole the story :

Forum

Market Condition Evaluation based on standard indicators in Metatrader 5

newdigital, 2013.09.01 21:06

This my post? red dotted lines are for possible sell stop trade, blue dotted lines are are possible buy stop ...

=============

Anyway - I just copied some latest summary from this thread :

=============

Market Condition Evaluation

story/thread was started from here/different thread

================================

Market condition

  • the theory with examples (primary trend, secondary trend) - read staring from this post till this one
  • Summary about market condition theory is on this post 
  • Practical examples about every market condition case by indicators: starting from this page till this one
     
  • trendstrength_v2 indicator is here,
     
  • AbsoluteStrength indicator new version is here

================================ 

3 Stoch MaFibo trading system for M5 and M1 timeframe 

================================  

PriceChannel ColorPar Ichi system.

 

================================ 

MaksiGen trading system 

================================ 

 Merrill's patterns are on this page.

 

================================

Divergence - how to use, explanation and where to read about.

  

================================

Scalp_net trading system

  • template/indicators and how to use are on this comment.

  • scalp_net_v132_tf EA is on this post with optimization results/settings for EURUSD M5 timeframe
     
  • possible settings #1 for this EA for EURUSD M5 timeframe with backtesting results is on this post.
     

================================  

MTF systems 

more to follow ...

================================

MA Channel Stochastic system is here.

================================

Ichimoku


Mehrdad Shiri
4800
Mehrdad Shiri  

hi newdigital

thank you.

Sergey Golubev
Moderator
114338
Sergey Golubev  

Forum

Press review

newdigital, 2013.11.18 10:26

2013-11-18 09:00 GMT (or 10:00 MQ MT5 time) | [EUR - Current Account]

if actual > forecast = good for currency (for EUR in our case)

==========

Euro zone current account surplus narrows to EUR13.7 billion

The euro zone’s current account surplus narrowed unexpectedly in September, official data showed on Monday.

In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR13.7 billion in September, down from a surplus of EUR17.9 billion in August, whose figure was revised up from a previously reported surplus of EUR17.4 billion.

Economists had expected the region’s current account surplus to widen to EUR19 billion in September.


MetaTrader Trading Platform Screenshots

EURUSD, M5, 2013.11.18

MetaQuotes Software Corp., MetaTrader 5, Demo

EURUSD M5 : 13 pips price movement by EUR Current Account

EURUSD, M5, 2013.11.18, MetaQuotes Software Corp., MetaTrader 5, Demo





Sergey Golubev
Moderator
114338
Sergey Golubev  

Some more about EURUSD : Chinkou Span line came to be in cery close way to historical price which is indicating future possible breakout. But as we see from screenshot below - there are 2 strong resistance lines for the price on the way to go to upward: 1.3504 and 1.3547. By the way - EURUSD H4 price is still inside Ichimoku cloud for ranging market condition so I am not expecting good strong breakout on D1 in the near future sorry.

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.11.18

MetaQuotes Software Corp., MetaTrader 5, Demo

temp_file_screenshot_32102.png

EURUSD, D1, 2013.11.18, MetaQuotes Software Corp., MetaTrader 5, Demo