Technical Indicators and EA on MQL5 Market in MT5 - online forex trading basics

Technical Indicators and EA on MQL5 Market in MT5 ~ online forex trading basics

I think, everyone engaged in FOREX trading knows MetaQuotes company and its FOREX trading terminal called MetaTrader. The fourth version of MetaTrader is the most popular nowadays but MetaTrader 5 is winning recognition at a rapid pace. In this review, we want to tell you about a very useful innovation implemented in MetaTrader 5 - MQL5 Market.

You can find a huge number of trading tools on the Internet, including various scripts, technical indicators and Expert Advisors.
Many of these products can be downloaded for free, while some of them are distributed on a paid basis. These are mostly different trading robots developed using MQL programming language. When buying such a product, traders often receive "a pig in a poke". They cannot test an Expert Advisor or indicator before buying it. When it turns out that a purchased trading robot is not so efficient, it is almost impossible to receive a refund.

MQL5 Market helps traders who prefer automated trading to avoid low-quality offers from trading robots developers. MQL5 Market is a special marketplace for buying and selling programs developed in MQL5. Now, any trader working with MetaTrader 5 can download, test and buy trading robots right in the terminal. Before paying for the purchased trading robot, you will be able to test it on historical data and demo account. All trading robots pass careful moderation on MQL5. If product parameters do not fit the description, such a product will not be available for download.

If you are a developer of trading robots, this service can offer you a high-quality marketplace for promoting your trading robots. You will not have any issues when receiving payments for your products, as MQL5 Market has its own payment system. MQL5 Market acts as an intermediary between developers and traders.

As we have already mentioned, MQL5 Market is available right in MetaTrader 5 terminal. To enter MQL5 Market, launch MetaTrader 5 terminal and move to Market tab of Toolbox window.

There you will find a wide variety of free and paid trading robots, indicators and utilities. Before purchasing a product, you should register on MQL5.com and enter the registration details of your account in the terminal.

Then, you need to deposit funds to your account. After that, you will be able to purchase any program easily. Before making a purchase, you can test the application and decide if it suits you or not. After buying the program, you will be able to download your copy and use it on three PCs.

Automated FOREX trading is actively gaining popularity among individual traders. MQL5 Market enables gathering together all FOREX trading applications and provides easy and transparent access to them. You no longer have to browse through a vast amount of web sites and risk your money buying Expert Advisors at unreliable web resources. MQL5 Market makes the purchase and use of Expert Advisors easy and affordable for each trader!

Use the store MQL5 Market now and here.

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Swing Strategy With Chart demonstration - trading forex online scams

Swing Strategy With Chart demonstration ~ trading forex online scams

Time frame: 30M and higher I prefer 1H
Currency: Any
Indicators:
Bollinger Bands_stop_v2 ( length 20)
Hieken_Ashi_Smoothed
Fisher ( period 30 )
  
Download: Swing.rar
                  Fisher No Repaint

TRADING
Long: buy when all blue and fisher above zero
Short: sell when all red and fisher lower than zero
Exit: when fisher change color
Stop loss: in long down the bollinger_bands, in short above bollinger_bands.

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Ultra short term forex strategy With Chart - forex trading scams in south africa

Ultra short term forex strategy With Chart ~ forex trading scams in south africa

The forex strategy that we will discuss here is an ultra-short term forex strategy useful for trading currency pairs on the 15 minute time frame. It can be used on any asset, but works best with currency pairs that are known to trend greatly.

Details
 This 15-minute forex trading strategy will use the following indicators:
- The 2-day exponential moving average (seen on the chart as the yellow line).
- The 5-day exponential moving average (seen on the chart as the red line).
- The 10-day exponential moving average (seen on the chart as the blue line).
- Forexoma_MACD, which is a modified version of the conventional MACD
indicator. Download: Forexoma-MACD.ex4
 Unlike the conventional version of the MACD, the Forexoma version is specifically colour-coded to ensure that as soon as the bars of the MACD start to show a change in direction, there is a colour change. The essence of this modification is to catch the trend changes much earlier, as it has been found that waiting for the conventional MACD indicator to change from positive to negative or from negative to positive causes a lag which delays the signal.

Long Entry Rules
The entry rules for the long trade are based on the cross of the shorter term EMA over the progressively longer term EMAs.
a) Buy when the 2EMA crosses above the 5EMA, and both 2EMA and 5EMA cross the 10 EMA in an upward direction.
b) The Forexoma MACD line must change colour from red colour to blue colour at the same time that the EMA crosses occur.
The positioning of the stop loss and profit targets is done at the discretion of the trader. However, it is important to mention that this is a trade with a very short term outlook, so it is in order if the profit targets do not exceed 30 pips per trade.

Short Entry Rules
The entry rules for the short trade are based on the downward cross of the shorter term EMA below the progressively longer term EMAs.
a) The trader should sell the currency pair when the 2EMA crosses beloow the 5EMA, and both 2EMA and 5EMA cross below the 10 EMA.
b) At the same time that the EMA crosses occur, the Forexoma MACD line must change colour from blue colour to red colour to reflect the change indirection of the moving averages.

Traders are at liberty to set the stop loss and profit targets at their own discretion. The short term outlook of this trade means that only a few pips should be aimed for at any given point in time, so it is in order to set stops and profit targets at a maximum of 30 pips per trade.

The charts below are illustrations of long and short orders using the strategy we have just outlined.


The chart above shows the three exponential moving averages as well as the Forexoma MACD indicator. We can see two sell and two buy signals, which provide clear identification of how the respective trades should be taken. The 2nd buy signal was not very successful because the asset was in consolidation mode.

 This is another chart which shows what happens when an asset is range-bound; the signals are not reliable as there is no room for the asset to get the volatility needed to generate profits. The only valid trade is the second sell signal which occurred when the asset started to trend lower.

The trade setups are valid as long as the asset is trending. The trader can tell if an asset is trending by checking if the currency pair is making higher lows and higher highs (uptrend) or lower highs and lower lows (downtrend)

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Powerful chart tool and economic calendar - forex trading charts live

Powerful chart tool and economic calendar ~ forex trading charts live

Forex Calendar

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GbpJpy Strategy - forex trading from home scams

GbpJpy Strategy ~ forex trading from home scams

Currency Pair: GBPJPY
Time: Tokyo Open and London Open
Strategy:
Set a Buy Stop order 20 pip above the opening price and a sell stop order 20 pips below the opening price.
The take profit is 40 pips for both the orders and no stop loss is used.

The Results:

1. Buy pending order is triggered and Buy T/P is achieved (40 pip gain) or
2. Sell pending order is triggered and Sell T/P is achieved (40 pip) or
3. Buy Pending order is triggered but Buy T/P is not achieved, the market reverses and the Sell order is triggered (40 pip loss)
4. Sell Pending order is triggered but Sell T/P is not achieved, the market reverses and the Buy order is triggered (40 pip loss) The strategy has been highly profitable for me so far, However, I am still not confident to start compounding.

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