Auto Channel Metatrader 4 Forex Indicator

Feeling good lately. Wanted to share my personal checklist for what I do in leading up to a trade in case there might be someone who finds it helpful.

So, in short about me, Im in my mid 20s, and have been trading for about 5 years. The first 2 I did not take seriously at all, I was in college, working a lot and had a lot happening, long story short, I have given it my all the past 3 years and have done really well to the point Im starting to have close friends/family ask me to teach them or how to get started. Im not here to teach anyone or promote anything so please do not PM me asking for my strategy or for help on any of the things I mention. My only reply would be to use your friends google and youtube to do your own research into each checklist item, if I even responded at all.
Anyways, today id like to just try to give back to this sub a little bit. I see a good bit of negativity on here and have even found myself bickering with users on here which has led me to pay a lot less attention to this sub altogether. One thing I recently noticed is that we are at 80k members in here! I think I subscribed just 2-3 or so years ago and it was around 15k. So that tells me that up to ~80% of this sub probably has less than 3 years experience. So obviously a ton of people are all here debating/arguing/attacking/trolling ideas/topics or users that are likely still in the learning phase so this sub I feel like can often discourage or delay a new persons chances of success because everything about forex is subjective, Technicals, Fundamentals, RM/Psychology, all of it is subjective and when users clash it often ends up toxic and someone that is new may completely give up just because they ran into some asshole on here. I believe what I share could benefit this community and if it happens to do so I may post more breadowns on different topics.
For me personally, I enjoy daytrading. I've tried all types and find daytrading to be the best fit for me. I trade the London/NY crossover, for me that is 5-9:30am central time. Occasionally ill come in an hour early or stay an hour late. I trade 18 pairs, majors, crosses and gold, occasionally silver. No CHF and only few NZD. I know countless people who do just fine with CHF and NZD but from my results over time I do the least well with those. The RSI is mainly the only indicator I use, occasionally an EMA or Bollinger band. Also I have a sessions indicator I sometimes use that I had a friend make for me that outlines a box around my 5-9:30 time and range.
My list of factors in being a successful trader, in order are
  1. Consistently
  2. Psychology
  3. Risk Management
  4. Strategy
*Ill go ahead and state, directed to newbies, that strategy is important but is one of the lesser important factors in the sense of thinking long term, most new traders are out strictly searching for the golden strategy, which doesn't exist or it would be well known, even my best strategy is around 80% which I believe is awesome but without having 1-3 covered, any strategy is useless.
This is my checklist, in order, although some are kind of closely related. I could go on and on about every point but ill try to keep it short and let you use your friends google and youtube to go further into any point you are more interested in understanding better.
Before the trade/before I start trading this takes around 15 minutes for me to have all these in check, so I arrive at my desk around 4:30-4:45am to get all these in check
  1. Psychology- your mental state is the most important factor. You need to be in a clear state of mind and not have anything heavy weighing on you.
  2. News- Go ahead and be aware of upcoming news events, I use forexfactory.com and only takes me a minute or 2 to review the news and get a bias on what might happen or if any currency should be avoided due to high impact news.
  3. Risk Management- Never take a trade risking over 1-2% of your account is kind of known standard for decent risk management. I would mostly agree but I'm personally super conservative and trade 0.25-1% per trade. Also I aim for trades with at least a 1:2 Risk:Reward, never ever less than a 1:1. When trading most days, I already kinda have the pip value and expected risk lot size in my head before im even at my desk, just because its fresh on my mind. I use https://www.myfxbook.com/forex-calculators/position-size to calculate my risks if i'm unsure.
*The more data you can gather about the pairs you trade the more you can use RM to your advantage, For instance, I backtest ALL THE TIME, constantly trying to learn as much as I can about my pairs such as: How many trade setups did each pair produce each week, month year? What pair produced the most setups? What pairs provided the most wins, losses or breakevens? What time during my session did the trade setup form? How many trades went for 20 pips, 40 pips or 100 pips? (for swing traders or scalpers you may want to adjust these numbers) Did news affect my trades? What happened in the Asian session? Early London session?
Knowing this information allows me to organize my attention to the more profitable pairs for my strategy. I'm almost certain very very few people may have the same exact strategy I use but just as a tid bit out of my 18 the best ones for me in 2019, not necessarily in order, were GOLD, GBP/AUD, GBP/CAD, GBP/USD, GBP/JPY, EUAUD, EUCAD. These 7 have been my favorites and most reliable, so I will do 0.75-1% risk for these. Next preferred, in no particular order, are EUGBP, CAD/JPY, AUD/JPY, AUD/CAD, EUNZD, GBP/NZD, GOLD/EURO. For these 7 I use a 0.25-0.75% risk. The last 4 are EUUSD, USD/JPY, USD/CAD, EUJPY, which I use a 0.25% on typically. This doesn't mean the pairs suck or anything, again this was based off my strategy, could be completely different for you but I hope you can see how this improves your odds vs just slapping a 2% trade across all pairs. If you do some research you'll find my best ones were also some of the most volatile and had higher ADRs.
  1. Trend. Since I daytrade I don't pay as much attention to H4, D1, W1, M1 although I do establish a bias for these timeframes, and I typically don't check these everyday honestly, because Ill already know in my head where these are. So I check H1, M30, M15 for my daily bias, Trying to establish a good trendline on the H1, preferably a nice channel.
  2. What did Asian/Early London sessions do? My trades typically form bettemore often/more reliable when the Asian session is mostly flat or around a 20-50 pip range, more or less depending on the pair and ADR.
So these are before, this section is about being aware of news and establishing bias'. Also note other than news, your bias' may or may not be correct, this is simply just getting an idea before we jump into ouyour session. It takes me a short while and it worth doing, especially the psychology part, I probably spend half of the time just on number 1, not to watch some motivation video or get super pumped but more so just getting relaxed, putting worries aside if there are any, getting rid of distractions, maybe some light/short meditation. 4:30-5am is definitely a quiet time so its relatively easy to do. I might have a cup of coffee but no more than 1-2 to not get jitters or too much hype in me.
During my session/preparing for a trade. I wont go in to my specific strategy but I believe the checklist can work with many strategies.
  1. Wait for overbought/oversold on RSI, over 75 or below 25. I don't trade in the middle of the range, simple rule we all know buy low, sell high. I set an alert for when the RSI hits either 75 or 25 so I can start to pay attention to it. I simply wait for an RSI alert then bring that pair to my attention. THIS DOES NOT MEAN ENTER AS SOON AS RSI IS TOUCHED, It just tells me I may potentially have a setup form on that pair soon. The alert allows me to trade 18 pairs relatively easily because there's no way I could sit there and constantly be flipping through charts for hour on end. I have been (what I feel like is) more aggressive in the recent years trading this many pairs. I have a reliable strategy that I could easily cut the the latter 4-11 pairs I mentioned out and just get paid off my best 7 which I probably will in the future as i've gotten more involved in other businesses and opportunities. For now and recently it hurts worse than a loss to know there was a clean trade setup that I missed just because I didn't have it up on MT4. A loss I can study and identify why I was wrong or what went wrong, a missed clean pattern just sucks lol
  2. Pattern/Setup. There's a ton of candlestick/pattern formations that happen and people learn an example here where a user posts a lot of charts and examples of all kids of patterns. https://bitcointalk.org/index.php?topic=4846473.0 So again for new traders, This can be incredibly overwhelming to attempt to learn everything and every pattern. I trade 4 patterns total, 2 when buying , 2 when selling. My advice is find a pattern or 2 and stick to them for a decent amount of time before switching or trying others, I know plenty of traders that stick to 2 patterns, 1 buy, 1 sell and are set. I've studied many but have found my favorite 4. You have to pick a pattern and pay attention to it over time gathering all the info you can to understand if that pattern works well. Every single pattern you can find online has happened on every single pair before, often times over and over and over. Find a pattern/setup, study how much it moves, if news affects the pair, how many times that patterns forms, how it acts around trendlines, etc.
  3. Once I have identified a clean setup I begin to think risk/reward, SL/TP, entries/exits, having clear risk and targets in mind instead of jumping in and hoping it goes well. I pay attention to recent levels, Support/Resistances, Trendline touches and news to get an idea to where to place my SL/TP. I wouldn't recommend just using a flat amount for an example such as a 40 pip SL and a 80 pip TP across all pairs. A value of a pip changes across different pairs (An entire topic that should be learned but the calculator from myfxbook I stated takes care of the pip value for you.
  4. I check other pairs that have the same currencies involved from the pair I received an alert on to see if there are similar setups forming on those. Currencies have positive and negative correlations, meaning some pairs move together and some pairs move opposite. For instance typically EUUSD and GBP/USD move in the same direction and EUUSD and USD/CHF typically move in opposite directions. This is largely due to economic factors. Here's a link that gives a little more insight but this one doesn't list all of the correlations out there. https://www.markettraders.com/blog/understanding-currency-pairs-correlation/. So if I see or get alerted for a potential setup on EUUSD I can check GBP/USD to see if there is a setup there too.
  5. Enter after patten had been confirmed and is clean.
So these 5 are leading up to entering the market. Based on my backtesting, I typically get around 3-4 setups per day. Sometimes theres none, sometimes theres 10. I never ever force a trade on a slow day, I know that my pattern will happen eventually so I never take a setup I think is iffy or that im forcing. Also that is another reason I keep my risk low incase there are days where 10 trades happen that all look good.
So for my session I place my trades around 5-9:30am central time and I usually close them by noon cst when NY session has ended and prices start to go flat. Occasionally I might hold for a day or 2 if I took a good trade in line with the trend and other factors. So after the trades are placed I have just one thing left
  1. Psychology- I said this was the most important, it comes full circle for me and many other. Trading my session and my strategy means my trades could be open for 5 minutes or up to 7 hours. A good trader needs to be able to handle his emotions and trust the process. This means trusting in your setup and let it run while also knowing when to get out in case it show signs of going against you. A traders real job is to manage risk, not to make big trades or a ton of trades. The more selective you are after you've learned a pattern and having everything else in line, the better. There are 5 outcomes of every trade Big win, small win, breakeven, small loss, big loss. To become a successful trader you just need to eliminate the big losses. For me I look at a small win and a small loss basically as breakeven trades. This helps with my psychology because to me it all ends up evening out, just the cost of business. If you take a small loss or small win and let that affect your psychology going to the next trade youre hurting yourself. Sometimes I take a 5-10 pip profit instead of holding and then it going against me for a loss and sometimes I take a 5-10 pip profit and it could've been 100 pips in my favor. Oh well, I protected my account and I know more setups will come tomorrow or later this week.
That is my complete checklist for entering the market. 11 bullets to cover, 5 before you start your session, 5 leading up to entering and 1 during/closing the trade. I hope this will be beneficial to some and may try to post a little more if I see it is helpful. Thank you for still reading this far! Best wishes in your trading endeavors and 2020!
Edit: I forgot to mention for a beginner or any skill level I highly highly recommend getting a simulator. There’s several out there, I don’t want to break any rules by naming which one I use, but they basically all work the same, all close to $100 which if you understand the power of backtesting you realize how necessary it is to have and that cost is nothing. A simulator allows you to download the candlestick tick data for any pair, for as far back as the pair’s chart goes. So then you can pick a day in the past, any day, pick your timeframe, and press play and the chart will start playing out like it actually did on the day it happened. So you see every little tick up and down. You can control the speed and speed it up fast so you can cover a years worth of trading of a currency in just a few hours. This makes it really easy to get a ton of accurate data in a short time. Demo trading is cool but fully controlled simulated trading kicks ass. I can’t recommend it enough.
Edit 2: my apologies for showing my ass in the comments right after I spoke about the negativity in here. I posted this at local time 4 am right after I stayed up finishing my 2019 backtest results and then I noticed the 80k members and felt an inspiration to post something what I thought could be helpful. I spent over an hour on this post and the lack of sleep and 2 straight all-nighters allowed me to allow others to get under my skin after they come at me with some dumb shit. If you see a post from me just know I’ve put some thought into it and am attempting to bring value. Haters gone hate. If I see some are receiving value I’ll keep it up as long as I know it’s something valuable. Again I have nothing to sell or promote even though others assume I do just for posting this. I specifically said stay out of my inbox. Whatever I decide to teach it will be fo free. Thanks again for your time.
submitted by Nectarizedtrader to Forex [link] [comments]

Autonotification ID's

I can't seem to figure out how to use the Autonotification ID system. I'm making a notification that tracks prices of certain forex pairs by going to a certain site and getting some info.
I can extract and process the info with HTTP Request and that all works fine. I can make a notification containing that info as well. Then I want to do the following:
if a notification with info on that certain pair (tracked by an array containing the pair with the ID next to it) already exists, make a new one. if not, update the one that exists (which I have a separate task for, bust shouldn't matter).
I tried to just set an ID based on how many notifications there are (%tempid) but when I do a query, instead of the value %tempid, the id',s found are completely different...
this way, such a notification never exists and so %exists is never true.
Task:
Trade Notification (49) A1: If [ %PairID(1) !Set ] A2: Array Set [ Variable Array:%PairID Values:0 Splitter:, ] A3: End If A4: HTTP Request [ Method:GET URL: 'link' Headers: Query Parameters: Body: File To Send: File/Directory To Save With Output: Timeout (Seconds):30 Trust Any Certificate:Off Automatically Follow Redirects:Off ] A5: Array Set [ Variable Array:%pairs Values:%http_data Splitter:" ] A6: Wait [ MS:291 Seconds:0 Minutes:0 Hours:0 Days:0 ] A7: If [ %pairs(12) ~ Buy ] A8: Variable Set [ Name:%signal To:Sell Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] A9: Else A10: Variable Set [ Name:%signal To:Buy Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] A11: End If A12: Variable Set [ Name:%Pair To:%pairs(16) Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] A13: AutoNotification Query [ Configuration:Title: ECC-11 Trade Idea Text: Pair: %Pair Signal: %signal Called At: %pairs(20) Use Regex: true Timeout (Seconds):20 ] A14: Wait [ MS:0 Seconds:1 Minutes:0 Hours:0 Days:0 ] A15: Variable Set [ Name:%tempid To:1 Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:1 ] If [ %anid() ~ !+ ] A16: Variable Set [ Name:%tempid To:round(%anid(#) + 1) Recurse Variables:Off Do Maths:On Append:Off Max Rounding Digits:1 ] If [ %anid() !~ !+ ] A17: Variable Set [ Name:%Pid To:%Pair%tempid Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] A18: Array Push [ Variable Array:%PairID Position:2 Value:%Pid Fill Spaces:Off ] If [ %Pid Set ] A19: Variable Set [ Name:%amount To:%anid(#) Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] A20: Variable Set [ Name:%amount To:2 Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] If [ %amount = 1 | %amount ~ !+ ] A21: For [ Variable:%infonummer Items:1:%amount ] A22: For [ Variable:%nummer Items:2:%amount ] A23: If [ %PairID(%nummer) ~ %anextrainfo(%infonummer)* ] A24: Variable Section [ Name:%PairID(%nummer) From:7 Length:3 Adapt To Fit:On Store Result In:%notifid ] A25: Flash [ Text:%anid() contains %tempid? Long:Off ] A26: If [ %anid() ~R *%tempid* ] A27: Flash [ Text:%anextrainfo(%infonummer) pair bestaat! Long:Off ] A28: Variable Set [ Name:%exists To:True Recurse Variables:Off Do Maths:Off Append:Off Max Rounding Digits:3 ] A29: End If A30: End If A31: End For A32: End For A33: AutoNotification [ Configuration:Title: ECC-11 Trade Idea Text: Pair: %Pair Signal: %signal Called At: %pairs(20) Current Price: %%Pair Action on Touch: Open=:=Check Action on Dismiss: None Status Bar Text Size: 16 Id: %tempid Extra Info: %Pair Priority: 2 Visibility: Public Content Info: %Pair SubText: Swipe to dismiss Vibration: 0,66,167,47,175,48 Category Id: Default Notifications Category Name: Trading Category Importance: Max Separator: , Button 1: Open=:=MT4 Label 1: Open MT4 Icon 1: ic_launcher Unlock Screen: true Button 2: Open=:=TV Label 2: Open TradingView Unlock Screen: true Icon 3: ic_launcher Unlock Screen: true Only on Phone: true Timeout (Seconds):0 ] If [ %exists neq True ] A34: If [ %exists eq True ] A35: Perform Task [ Name:Notif Price Update Priority:%priority Parameter 1 (%par1): Parameter 2 (%par2): Return Value Variable: Stop:Off ] A36: Variable Clear [ Name:%Pid Pattern Matching:Off Local Variables Only:Off Clear All Variables:Off ] A37: End If 
Is there a different/better way to do this? Am I just missing something here? Thanks for your help!
If I didn't provide enough info or something is not clear, let me know!
submitted by GodAshen to tasker [link] [comments]

Super Scalp 2.0 mt4 Indicator

Super Scalp 2.0 mt4 Indicator
Download free mt4 Indicators: https://www.forexwinners.in/
Super Scalp 2.0 mt4 Indicator is a combination of Metatrader 4 (MT4) indicator(s) and template. Super Scalping technique is an excellent technique that uses 5 minutes timeframe using AUDUSD, EURUSD, GBPUSD pairs. Indicators used are:
Super Scalp 2.0 mt4 Indicator is a combination of Metatrader 4 (MT4) indicator(s) and template. provides an opportunity to detect various peculiarities and patterns in price dynamics that are invisible to the naked eye. The essence of this forex strategy is to transform the accumulated history data and trading signals.

https://preview.redd.it/3h3htoer4hd41.png?width=997&format=png&auto=webp&s=f2ca4b3eb95df4f2cb4cc0cf9bfa186b66a8ccf8
submitted by mt4indicators to u/mt4indicators [link] [comments]

Technical indicators in a python script

Hi guys! I'm new to both forex and python so please forgive me if I sound stupid at times. Long story short I'm trying to implement historical data from MT4 in a python script that will eventually return what key technical indicators are suggesting (buy, sell, neutral).
Basically, trying to replicate this website: https://www.tradingview.com/symbols/GBPNZD/technicals/
I'm using dictionaries to store values - e.g. with daily data I'm storing days as keys and MACD as values. Anything on a shorter time frame than daily data and my script takes too long to run/doesn't run. What should I do in this situation? How do you calculate 12-day and 26-day SMAs using historical data that's in a shorter time frame than daily without blowing up my script? Do things like 60-minute SMAs for M1, 24 hours for H1 etc. exist and are they even viable? Any advice highly appreciated.

submitted by plzforgive5iq to Forex [link] [comments]

Metatrader 4 - 99% Back-testing in 5 Simple Steps Forex & Stocks Multi EMA Momentum MT4 Trading Strategy and Indicators The 9-Minute Rule for Trend bar indicator mt4 - studioscuolasport.it MT4 How to get 2 Min and 3 Min chart in Metatrader 4 Scalping Trading System Metatrader 4 ( Indicator & Strategy )

Download the “5MIN SCALPING.mq4” MT4 robot. Strategy Tester Report. Find below the 5 Minute Scalper forex robot strategy tester report for the EUR/USD forex pair on the 5-Minute chart. Overall Performance. The EA made a total profit of $2858.19 from a total of 119 trades. The 1 Minute Daily Forex Trading Strategy is a scaling system used to trade the major currency pairs. One of the major advantages of this trading strategy would be that it uses two momentum indicators to determine the general direction for the day and the strength of the trend. Metatrader 1-Minute Data. To install History Data: Click on the currency pair of your choice and save it on your computer. money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general Forex Tester allows you to import an unlimited number of currency pairs and years of history data in almost any possible text format (ASCII *.csv, *.txt). We strongly recommend importing 1-minute data for accurate testing (it is possible to import higher timeframes but testing results may not be as good). When looking at your MT4 charts, sometimes you are only seeing a small part of the complete historical MT4 data. …and that can cause problems. This doesn't matter so much on lower time frames, but when you are looking at the weekly charts, not having all of the available historical Forex charts data can mean that you are missing important support and resistance levels.

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Metatrader 4 - 99% Back-testing in 5 Simple Steps

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