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2 years
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I started learning C programming in 2010. From there I picked up many languages.
I have worked with MQL for just a year now. I pick up programming languages very quickly because I'm no stranger to programming.
I'm working on several indicator projects and EA concepts.
I'm currently studying epistemological degeneracy in financial markets.
I have worked with MQL for just a year now. I pick up programming languages very quickly because I'm no stranger to programming.
I'm working on several indicator projects and EA concepts.
I'm currently studying epistemological degeneracy in financial markets.
Conor Mcnamara
It would be helpful to have a table of algos which are profitable in automation, and which are not.
Some indicators are profitable sometimes, but can't survive all market conditions, which means the algorithm essentially isn't good enough for automation. It seems that with most of them, there's a problem. Parabolic sar for example will fail in ranging markets. Fractals is often after the fact, and not always giving true signals. Donchian channel and zigzag by itself is constantly repainting. RSI gives false signals if the market starts to trend in one direction.
Multitimeframe systems and systems that combine indicators are promising, but there are downsides to this as well (it will calculate fewer opportunities and miss out on many).
There's only a few algos left to be reliable for automation.
Some indicators are profitable sometimes, but can't survive all market conditions, which means the algorithm essentially isn't good enough for automation. It seems that with most of them, there's a problem. Parabolic sar for example will fail in ranging markets. Fractals is often after the fact, and not always giving true signals. Donchian channel and zigzag by itself is constantly repainting. RSI gives false signals if the market starts to trend in one direction.
Multitimeframe systems and systems that combine indicators are promising, but there are downsides to this as well (it will calculate fewer opportunities and miss out on many).
There's only a few algos left to be reliable for automation.
· 2
Show all comments (4)
Rajesh Kumar Nait
2025.07.02
*money sorry for typo errors
Conor Mcnamara
2025.07.02
It is true that every strategy can work with organized risk management, although what I'm hunting for is thr most reliable scalping system which provides frequent and safe entry opportunities. I found a few very good contenders which are far better than other trend following indicators
Rajesh Kumar Nait
2025.07.02
its a dream to find such strategy for every trader.
Conor Mcnamara
statistically, multi-timeframe trend shows much more positive results for quantitative trend indicators proving that it's not a fad
· 1
Mahdi Ebrahimzadeh
2025.07.05
hard word to understand for non-english people. thanks for explanation.
Conor Mcnamara
extreme risk is not a bad thing if the deposit meant nothing to you, and the fact of trading is that higher risk will always give a more fruitful profit over time. But I see so many EAs with no fail-safe features.
For example, let's say the user wants to take really high risk, and the account gained 30%. At least then you could implement a fail-safe where the deposit is protected and the EA can't fall below the original deposit after a certain account gain is reached. I coded these deposit protection features, because it's not logical to allow the expert to blow the account at a late point. It's very easy to code these things, there's no excuse not to have money management
For example, let's say the user wants to take really high risk, and the account gained 30%. At least then you could implement a fail-safe where the deposit is protected and the EA can't fall below the original deposit after a certain account gain is reached. I coded these deposit protection features, because it's not logical to allow the expert to blow the account at a late point. It's very easy to code these things, there's no excuse not to have money management
Rajesh Kumar Nait
2025.06.30
Extreme risk for me is like betting 2 for 1 profit or 3 for 1 profit but it should be done with small accounts only. Once you grow use position sizing to mitigate risk
Conor Mcnamara
In your EAs, do you create a time window for trading? or do you let the EA trade all hours and all sessions? and if you do create an hourly trading window, which hours do you let the EA trade?
Conor Mcnamara
2025.06.28
I saw in one EA this guy made a function to make the expert trade only a specific set of hours. It was this which made it profitable. I know for sure that trading less is a good risk management protocol. But if his way is the best way in forex...it's still questionable. I'll have to do more experiments on that
Conor Mcnamara
2025.06.28
he made the EA trade last hour of Tokyo session into the first two hours of London session. Apparently the last hour of a session is where institutions warm up for the opening of the next session, and liquidity increases
Conor Mcnamara
small backtest on the time where real ticks were available, this is trading on H1 chart with the trend following indicator on H12. Possible overfitting, and will not always be smooth. this is why we need either to supervise at times or else automate risk management such as a drawdown controller
· 1
Conor Mcnamara
some small discovery in mtf trend following indicators if anyone is interested
M5 chart timeframe likes the indicator to look at M15 or M20 for short term scalping
M20 chart timeframe likes the indicator to look at H8 for swing trades
H1 chart timeframe likes the indicator to look at H12 for swing trades
M5 chart timeframe likes the indicator to look at M15 or M20 for short term scalping
M20 chart timeframe likes the indicator to look at H8 for swing trades
H1 chart timeframe likes the indicator to look at H12 for swing trades
· 1
Conor Mcnamara
using the two-stage entry concept on M5 chart with the trend following indicator looking at M15 (MTF). Drawdown is 1%
· 3
Conor Mcnamara
because of the fact that indicator signals can sometimes be false, I developed a concept where the quality of the signal is first tested by the EA with 0.01 micro lot size before it executes a normal sized position (based on a risk % of the account). The PnL of the 0.01 lot size trade is examined... if the position was profitable, it makes another trade with bigger volume, if the position was unprofitable, it could mean that the indicator signal was false. This proved to be good in backtest. Instead of performing surgery on a weak trade, this basically pinpoints bad entries and cancels them
Conor Mcnamara
I automated Ron Blacks "Swing line" to do scalping on the H1 timeframe, and on backtest for 2024 it gave very impressive statistics when combined with ADX trend strength. But in 2025, the results are poor surprisingly. I wonder why that is
Rajesh Kumar Nait
2025.06.24
It should be like the hedge fund trading it in 2024 may have retired. The new player use new strategy
Conor Mcnamara
2025.06.24
maybe brokers are also using new tools which counter peoples trades, the landscape keeps changing
Conor Mcnamara
How do people think they published a safe and profitable EA when it doesn't use stop losses and allows equity drawdown to to continue over 50%? There isn't always a correction in markets so the money will be lost, and there will be a margin call. Shame on people purchasing pricey EAs from idiots
· 4
Conor Mcnamara
https://www.mql5.com/en/code/87 this is a clever and elegant indicator which measures volume pressure, it's a unique idea, it compares the live tick volume on each current bar to the average volume of the entire series and compares percentages of volume
· 1
Conor Mcnamara
I don't need to use AI for coding, but could you argue that if AI isn't helping you, then it is not a fault with AI but rather the fact that your prompt isn't reasonable enough? Maybe I'm way off I don't know
· 2
Rajesh Kumar Nait
2025.05.29
Yes prompt engineering is must to have also it's make errors even today but a programmer can understand and solve quickly but novice can't. So learning programming is also required to use AI in a better way
Rajesh Kumar Nait
2025.05.29
Thanks, Your code is good too. As a good programmer our goal should be to minimize coding, avoid redeclaring variables unless required and look for optimized way of coding. As a new programmer my first code which i wrote was 3500+ lines, after experience i rewrote that code in just 95 lines.
Conor Mcnamara
Published code Trendline zigzag in qualitative channel
A dynamic trendline-based evolution of the Donchian Channel
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6135
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Conor Mcnamara
shared product
Download it now and give it a try. Let me know if it is something that works for you. In the upcoming release, there can be an option to load your own moving average, or even another indicator. The beta is about highlighting the zigzag process itself and not the SMA which it takes information from. It should provide increased clarity with market structure compared to a bare moving average plot, as moving averages normally repaint up and down on the current unclosed bar. Using a backstep of 1 is more suitable for entry signals or automation, and using a higher backstep is more suited for wave analysis
MagZag ( Beta) — A Trend- Based Reinvention of the ZigZag MagZag is a complete remodel of the traditional ZigZag indicator, built on trend- based logic instead of reactive price confirmation. Unlike a traditional ZigZag that works off of price action and relies on future bars to confirm a swing, MagZag calculates new legs immediately — with no forward correction , no lag , and no repainting . Once a leg is drawn, it's final. MagZag includes parameters for deviation and backstep, but it
Conor Mcnamara
this is now doing an impressive job of providing harmony and clarity in chaotic sideways market zones that make no sense with a moving average
· 4
Conor Mcnamara
2025.05.10
370 lines of code, the code kept changing and evolving...I am finished with it now. - A trend can be confirmed by bars or points
- Unlike a traditional zigzag, the price action does not confirm a trend, so there is no "depth" parameter, and the zigzag does not have to do confirmations - Confirmations are done with the trend in advance to "prepare" the zigzag on every subsequent bar so that the zigzag can start the new leg immediately It's a complete remodel of a zigzag indicator. Downloadable beta for free soon.
- Unlike a traditional zigzag, the price action does not confirm a trend, so there is no "depth" parameter, and the zigzag does not have to do confirmations - Confirmations are done with the trend in advance to "prepare" the zigzag on every subsequent bar so that the zigzag can start the new leg immediately It's a complete remodel of a zigzag indicator. Downloadable beta for free soon.