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How to Start with Metatrader 5 - page 22

Sergey Golubev
Moderator
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Sergey Golubev  

Ichimoku Alert indicator was uploaded on this post :

Forum

Market Condition Evaluation based on standard indicators in Metatrader 5

newdigital, 2013.07.06 13:40

Hi zeno,

Indicator is ready - please find it attached. Just about the settings. Please note : most of signals for buy (by blue color) are valid if the price is above kumo on that time, and most sell signals (red arrows) are valid if the price is below kumo (kumo = Ichimoku cloud). Why? Because using this indicator for technical analysis and for trading are 2 different things (this indicator is used for technical analysis for one way, and for trading - for an other way - using same signals and same arrows).

If we need to improve it - let me know. Because those signals are coded in non-swing way (without 'candlestick theory' for example).

===========


Explanation of the settings.

1. Ichimoku settings. As I said - this 9/26/52 is for timeframe started with H1 for example, for lower timeframe - I am suggesting to use 72/144/288

  • Tenkan = 9; // Tenkan-sen
  • Kijun = 26; // Kijun-sen
  • Senkou = 52; // Senkou Span B

--------------------

2. Arrows on the chart

SignalMode = 4; // Signal Mode: 0-off, 1-Tenkan/Kijun, 2-Chinkou/Cloud, 3-Chinkou/Price, 4-all together

How to know which arrows for which signal? Move mouse on the arrow and you will see the text with description concerning what this arrow is about.

--------------------

3. Alerts (on close bar)

AlertMode = 4; // Alert Mode: 0-off, 1-Tenkan/Kijun, 2-Chinkou/Cloud, 3-Chinkou/Price, 4-all together

I tested some of those alerts and it works.

--------------------

4. WarningMode = 1; // Warning Mode: 0-off,1-on

This is alerts on open bar as a warning about 'crossing will be soon'.


===========


MetaTrader Trading Platform Screenshots

USDJPY, H4, 2013.07.06

MetaQuotes Software Corp., MetaTrader 5, Demo

usdjpy h4 ichi

USDJPY, H4, 2013.07.06, MetaQuotes Software Corp., MetaTrader 5, Demo



===========


And just some theory to remind :

Forum

USDJPY Technical Analysis 23.06 - 30.06 : Rally Finishing to Ranging

newdigital, 2013.06.27 12:07

Well ... what I am explaining here by text and charts - it is understandable for traders. But there are traders and coders on the forum. And I think we all know that they are using different "forex english" in some cases. So, I am just translating some terms/words I am using for technical Ichimoku analysis onto "coding english" language :) :

  1. Tenkan Sen - moving average of the highest high and lowest low over the last 9 trading days. (Highest high + Lowest low) / 2 over the last 9 trading days
  2. Kijun Sen - moving average of the highest high and lowest low over the last 26 trading days. (Highest high + Lowest low) / 2 over the last 26 trading days.
  3. Senkou Span A - the average of the Tenkan Sen and Kijun Sen, plotted 26 days ahead. (Tenkan Sen + Kijun Sen) / 2 plotted 26 days ahead
  4. Senkou Span B - the average of the highest high and lowest low over the last 52 days, plotted 26 days ahead. (Highest high + Lowest low) / 2 over the last 52 trading days plotted 26 days ahead.
  5. Chikou Span - the closing price plotted 26 days behind.

Forum

Market Condition Evaluation based on standard indicators in Metatrader 5

newdigital, 2013.06.28 18:00

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?



Files:
Sergey Golubev
Moderator
102667
Sergey Golubev  

Forum

How to Start with Metatrader 5

newdigital, 2013.06.06 06:51

Market condition setup with indicators and template to use was uploaded on this post: Market Condition Evaluation based on standard indicators in Metatrader 5

Just for information


Sergey Golubev
Moderator
102667
Sergey Golubev  

As some requests about free coding are increased on the forum so I want to remindthe following:

Forum

How to convert a mt4 indicator to a mt5 one

newdigital, 2013.03.08 07:25

They are few ways to do

  • you can do it by yourself (if you understand mql5 programming language)
  • you can ask someone to convert using Job service for example,
  • or some coder can do it for free for you ... but coders are coding for free if it is interesting for them personally and if it is interesting for majority of mql5 members.

 

Sergey Golubev
Moderator
102667
Sergey Golubev  

Just to be sure that we read this news :

Forum

MetaTrader 4 Mobile Now Available for iPhone 5 and All iPad Models

MetaQuotes, 2013.07.10 09:53

The new version 501 of MetaTrader 4 for iOS devices is now available. The key feature that has been added is native support for all iPad models (including the iPad with Retina display) and iPhone 5.

MetaTrader 4 Mobile Now Available for iPhone 5 and All iPad Models

In addition to native support for mobile devices, the new version of the application features an enhanced graphical system. It provides a better performance and improved functionality when working with charts. The new version also includes financial news and internal mailbox that allows traders to communicate with broker's representatives over a secure channel.

"When working on the new version, we were committed to providing compatibility with the new iPhone 5, - said Renat Fatkhullin, CEO of MetaQuotes Software Corp. - But what is most important is support for all iPad models anticipated by many traders. Moreover, the terminal for iPad has greater features than that for iPhone".

FeaturesMetaTrader 4 iPadMetaTrader 4 iPhone
Real-time quotes of financial instruments
yes
yes
Full-featured trading (all types of orders, execution modes, etc.)yesyes
Complete trading historyyes
yes
Interactive and customizable chartsyes
yes
Number of charts displayed simultaneously41
Number of technical indicators available3030
Number of timeframes99
Trade levels and volumes on the chartyes
yes
One-click trading from the chartyes
no
Information window (positions, orders, news, etc.)yes
no

Differences in features available in MetaTrader 4 for iPad and iPhone

In general, the mobile terminal for iPhone has become even more convenient due to the improved graphical system. At the same time, apart from native support for devices with all resolutions, MetaTrader 4 iPad offers more opportunities for Forex trading.

Note:
  • new mobile terminals in the AppStore are offered as a single universal application, without a separate version for iPhone and for iPad. So whether you have a smartphone or a tablet, you need to download the same application that will automatically be installed on your device, offering the maximum range of features.
  • support of smartphones (iPhone 3G and older) has been stopped. iPhone 3GS or later are still supported.

Download the new MetaTrader 4 for your iPhone or iPad to get the new trading opportunities!



Jordi Bassaganas
3574
Jordi Bassaganas  
newdigital:

There are some problem ...

It was many years ago when I asked one coder: "please, can you convert this good indicator onto EA".
He replied: "what?!"
I was really upset - what did I say wrong?

Well ...

Any coder understand any trading system in his programming way.

Example with this Scalp_net system (template is on this post):

 

 

and there are bar #0, bar #1 .... bar #10 ...

What is bar #0?
It is open bar.
What is bar #1?
It is close bar (or previous bar).

example:


 

So, if you make a request to the coder: "please code EA to me when EMA with period 55 is crossing EMA with period 200 ...". Coder will say "ok, which bar numbers"
What is the crossing?
It is bar #2 of fast EMA is below bar #2 if slow EMA
AND
bar #1 of fast EMA is above or equal bar 1 of slow EMA,
right? For uptrend (buy condition)

 

I think this is rather normal at some stages of development. If you let your non-technical customers freely express themselves in terms of resolving a programming problem, sometimes they will say C when they actually want to say Z, and sometimes they will understand 6 when you said to them G.

Welcome to the world of developing software in a team together with customers! It is the same as when your customer explains to you their investment system by using concepts of economics and technical analysis but it turns out that you are half an IT person and half an economist. It is crucial being aware of the pitfalls of language. The resulting robot may in this case buy EURGBP at 2 when it was supposed to sell EURUSD at 1.

Sergey Golubev
Moderator
102667
Sergey Golubev  

How to delete pending order, and how to place and move stop loss by mouse on the chart - watch this video :

Forum

USDJPY Technical Analysis 07.06 - 14.07 : Possible Breakout

newdigital, 2013.07.10 16:03

So, I deleted sell stop and placed stop loss by mouse - watch the video for example:



Sergey Golubev
Moderator
102667
Sergey Golubev  

New indicator was created/converted to Metatrader 5 and it is available in MT5 CodeBase now : Signal Table


Sergey Golubev
Moderator
102667
Sergey Golubev  

Trading Success Means Comfort with Being Wrong

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”
– Ed Seykota, Legendary Trend Trader

Sergey Golubev
Moderator
102667
Sergey Golubev  

Just good indicator found in Metatrader 5 CodeBase : GUPPY MULTIPLE MOVING AVERAGES :

These are two groups of exponential moving averages. The short term group is a 3, 5, 8, 10, 12 and 15 day moving averages. This is a proxy for the behaviour of short term traders and speculators in the market.

The long term group is made up of 30, 35, 40, 45, 50 and 60 day moving averages. This is a proxy for the long term investors in the market.

The relationship within each of these groups tells us when there is agreement on value - when they are close together - and when there is disagreement on value - when they are well spaced apart.

The relationship between the two groups tells the trader about the strength of the market action. A change in price direction that is well supported by both short and long term investors signals a strong trading opportunity. The crossover of the two groups of moving averages is not as important as the relationship between them.

When both groups compress at the same time it alerts the trader to increased price volatility and the potential for good trading opportunities.

==========

The Guppy Multiple Moving Average (GMMA) is an indicator that tracks the inferred activity of the two major groups in the market. These are investors and traders. Traders are always probing for a change in the trend. In a downtrend they will take a trade in anticipation of a new up trend developing. If it does not develop, then they get out of the trade quickly. If the trend does change, then they stay with the trade, but continue to use a short term management approach. No matter how long the up trend remains in place, the trader is always alert for a potential trend change. Often they use a volatility based indicator like the count back line, or a short term 10 day moving average, to help identify the exit conditions. The traders focus is on not losing money. This means he avoids losing trading capital when the trade first starts, and later he avoids losing too much of open profits as the trade moves into success.

We track their inferred activity by using a group of short term moving averages. These are 3, 5, 8, 10, 12 and 15 day exponentially calculated moving averages. We select this combination because three days is about half a trading week. Five days is one trading week. Eight days is about a week and a half.

The traders always lead the change in trend. Their buying pushes prices up in anticipation of a trend change. The only way the trend can survive is if other buyers also come into the market. Strong trends are supported by long term investors. These are the true gamblers in the market because they tend to have a great deal of faith in their analysis. They just know they are right, and it takes a lot to convince them otherwise. When they buy a stock they invest money, their emotions, their reputation and their ego. They simply do not like to admit to a mistake. This may sound overstated, but think for a moment about your investment in AMP or TLS. If purchased several years ago these are both losing investments yet they remain in many portfolios and perhaps in yours.

The investor takes more time to recognize the change in a trend. He follows the lead set by traders. We track the investors inferred activity by using a 30, 35, 40, 45, 50 and 60 day exponentially calculated moving average. Each average is increased by one week. We jump two weeks from 50 to 60 days in the final series because we originally used the 60 day average as a check point.


This reflects the original development of this indicator where our focus was on the way a moving average crossover delivered information about agreement on value and price over multiple time frames. Over the years we have moved beyond this interpretation and application of the indicator. In the notes over the coming weeks we will show how this has developed.

Our starting point was the lag that existed between the time of a genuine trend break and the time that a moving average cross over entry signal was generated. Our focus was on the change from a downtrend to an up trend. Our preferred early warning tool was the straight edge trend line which is simple to use and quite accurate. The problem with using a single straight edge trend line was that some breakouts were false. The straight edge trend line provided no way to separate the false from the genuine.

On the other hand, the moving average crossover based on a 10 and 30 day calculation, provided a higher level of certainty that the trend break was genuine. However the disadvantage was that the crossover signal might come many days after the initial trend break signal. This time lag was further extended because the signal was based on end of day prices. We see the exact cross over today, and if we were courageous, we could enter tomorrow. Generally traders waited for another day to verify that the crossover had actually taken place which delayed the entry until 2 days after the actual crossover. This time lag meant that price had often moved up considerably by the time the trade was opened.

The standard solution called for a combination of short term moving averages to move the crossover point further back in time so that it was closer to the breakout signaled by a close above the straight edge trend line. The drawback was that the shorter the moving average, the less reliable it became. In plotting multiple moving averages on a single chart display four significant features emerged.

They were:

  • A repeated pattern of compression and expansion in a group of six short term averages.
  • The behavior was fractally repeated across different time frames. These short and long term groups were useful in understanding the inferred behavior of traders and investors.
  • The degree of separation within groups and between groups provides a method of understanding the nature of the trend and trend change.
  • The synchronicity was independent of the length of the individual moving averages. That is, at major trend turning points compression occurred across both long and short term groups and this provided early validation of signals generated by the straight edge trend line
  • The relationship between moving averages and price was better understood as a relationship between value and price. The crossover of two moving averages represented an agreement on value over two different time frames. In a continuous open auction which is the mechanism of the market, agreement on price and value was transient and temporary. Such agreement often preceded substantial changes in the direction of the trend. The GMMA became a tool for identifying the probability of trend development.



These broad relationships, and the more advanced relationships used with the GMMA are summarized in the chart. Over the following series of articles we will examine the identification and application of each of these relationships.


This is the most straightforward application of the GMMA and it worked well with “V’ shaped trend changes. It was not about taking the lag out of the moving average calculation. It is about validating a prior trend break signal by examining the relationship between price and value. Once the initial trend break signal is validated by the GMMA the trader is able to enter a breakout trade with a higher level of confidence.

The CBA chart shows the classic application of the GMMA. We start with the breakout above the straight edge trend line. The vertical line shows the decision point on the day of the breakout. We need to be sure that this breakout is for real and likely to continue upwards. After several months in a downtrend the initial breakout sometimes fails and develops as shown by the thick black line. This signals a change in the nature of the trend line from a resistance function prior to the breakout to a support function after the breakout.

The GMMA is used to assess the probability that the trend break shown by the straight edge trend line is genuine. We start by observing the activity of the short term group. This tells us how traders are thinking. In area A we see a compression of the averages. This suggests that traders have reached an agreement on price and value. The price of CBA has been driven so low that many traders now believe it is worth more than the current traded price. The only way they can take advantage of this ‘cheap’ price is to buy stock. Unfortunately many other short term traders have reached the same conclusion. They also want to buy at this price. A bidding war erupts. Traders who believe they are missing out on the opportunity outbid their competitors to ensure they get a position in the stock at favorable prices.


The compression of these averages shows agreement about price and value. The expansion of the group shows that traders are excited about the future prospects of increased value even though prices are still rising. These traders buy in anticipation of a trend change. They are probing for a trend change.

We use the straight edge trend line to signal an increased probability of a trend change. When this signal is generated we observe this change in direction and separation in the short term group of averages. We know traders believe this stock has a future. We want confirmation that the long term investors are also buying this confidence.

The long term group of averages, at the decision point, is showing signs of compression and the beginning of a change in direction. Notice how quickly the compression starts and the decisive change in direction. This is despite the longest average of 60 days which we would normally expect to lag well behind any trend change. This compression in the long term group is evidence of the synchronicity relationship that makes the GMMA so useful.

This compression and change in direction tells us that there is an increased probability that the change in trend direction is for real – it is sustainable. This encourages us to buy the stock soon after the decision point shown.

The GMMA picks up a seismic shift in the markets sentiment as it happens, even though we are using a 60 day moving average.. Later we will look at how this indicator is used to develop reliable advance signals of this change. This compression and eventual crossover within the long term group takes place in area B. The trend change is confirmed. The agreement amongst investors about price and value cannot last. Where there is agreement some people see opportunity. There are many investors who will have missed out on joining the trend change prior to area B. Now the change is confirmed they want to get part of the action. Generally investors move larger funds than traders. Their activity in the market has a larger impact.

The latecomers can only buy stock if they outbid their competitors. The stronger the initial trend, the more pressure there is to get an early position. This increased bidding supports the trend. This is shown by the way the long term group continue to move up, and by the way the long term group of averages separates. The wider the spread the more powerful the underlying trend.


Even the traders retain faith in this tend change. The sell off that takes place in area C is not very strong. The group of short term averages dips towards the long term group and then bounces away quickly. The long term group of averages show that investors take this opportunity to buy stock at temporarily wakened prices. Although the long term group falters out at this point, the degree of separation remains relatively constant and this confirms the strength of the emerging trend.

The temporary collapse of the short term group comes after a 12% appreciation in price. Short term traders exit the trade taking short term profits at this level of return and this is reflected by the compression and collapse of the short term group of averages. As long term investors step into the market and buy CBA at these weakened prices, traders sense that the trend is well supported. Their activity takes off, and the short term group of averages rebounds, separates, and then run parallel to the long term group as the trend continues.

The GMMA identifies a significant change in the markets opinion about CBA. The compression of the short term and long term groups validates the trend break signal generated by a close above the straight edge trend line. Using this basic application of the GMMA, the trader has the confidence necessary to buy CBA at, or just after the decision points shown on the chart extract.

Using this straightforward application of the GMMA also kept traders out of false breakouts. The straight edge trend line provides the first indication that a downtrend may be turning to an up trend. The CSL chart shows two examples of a false break from a straight edge trend line. We start with decision point A. The steep downtrend is clearly broken by a close above the trend line. If this is a genuine trend break then we have the opportunity to get in early well before any moving average crossover signal.

This trend break collapses quickly. If we had first observed this chart near decision point B then we may have chosen to plot the second trend line as shown. This plot takes advantage of the information on the chart. We know the first break was false, and by taking this into account we set the second trend line plot. Can this trend break be relied upon? If we are right we get to ride a new up trend. If we are wrong we stand to lose money if we stay with a continuation of the downtrend. The straight edge trend line by itself does not provide enough information to make a good decision.

When we apply the GMMA we get a getter idea of the probability of the trend line break actually being the start of a new up trend. The key relationship is the level of separation in the long term group of averages, and trend direction they are traveling. At both decision point A and decision point B the long term group is well separated. Investors do not like this stock. Every time there is a rise in prices they take advantage of this to sell. Their selling overwhelms the market and drives prices down so the downtrend continues.


The degree of separation between the two groups of moving averages also makes it more difficult for either of the rallies to successfully change the direction of the trend. The most likely outcome is a weak rally followed by a collapse and continuation of the down trend. This observation keeps the trader, and the investor, out of CSL.

Looking forward we do see a convergence between the short term group of averages and the long term group of averages. Additionally the long term group begins to narrow down, suggesting a developing level of agreement about price and value amongst investors in April and May. In late March the 10 day moving average closes above the 30 day moving average, generating a classic moving average buy signal.

Sergey Golubev
Moderator
102667
Sergey Golubev  

And this is the examples with Metatrader 5 (indicator is here to download):

MetaTrader Trading Platform Screenshots

EURUSD, H1, 2013.07.15

MetaQuotes Software Corp., MetaTrader 5, Demo

gmma eurusd h1

EURUSD, H1, 2013.07.15, MetaQuotes Software Corp., MetaTrader 5, Demo


MetaTrader Trading Platform Screenshots

EURUSD, H4, 2013.07.15

MetaQuotes Software Corp., MetaTrader 5, Demo

gmma eurusd h4

EURUSD, H4, 2013.07.15, MetaQuotes Software Corp., MetaTrader 5, Demo