System Trading - DailyForexMap

Mastering 5-Minute Envelopes Scalping with MetaTrader 4

Hey fellow traders! Let’s dive into the exciting world of 5-minute envelopes scalping using MetaTrader 4. This strategy can really give your trading a boost! So here’s the deal: when the price is sitting above the upper envelope and the signal direction is pointing down, it’s time to consider a sell. To confirm, check if the previous high price is greater than the upper envelope and if the current bid is bigger than the distance filter. If everything lines up, your expert advisor will trigger a SELL trade. On the flip side, if the price dips below the lower envelope and the signal direction is up, we’re looking at a buy opportunity. Make sure the previous low price is less than the lower envelope and that the current bid exceeds the distance filter. If that’s the case, your expert advisor will open a BUY trade. Important: Always backtest your strategy first! Find the best settings for your favorite currency pair and make sure to test it out on a demo account before going live. Happy trading! Check out this backtest result here!

2020.08.10

MetaTrader4

Maximize Your Trading Efficiency with the NNFX Auto Trader for MetaTrader 4

The NNFX Auto Trader is a game-changer for traders looking to CREATE, MANAGE, and EXIT trades using the No Nonsense Forex strategy with remarkable speed. This tool not only refines your risk management but also helps eliminate emotional trading, allowing you to execute trades with just a click. Inputs - X/Y Position: Adjust the position of the trading box on your chart. - Default Risk: This defines the percentage of your account allocated to a single trade (this setting is preserved between sessions). The default value is 2%. - Pip Decimal Shift: Some brokers provide 5 decimal places instead of the standard 4. You can set this parameter to 1 if that’s the case. - Lots Decimals: This indicates the precision of lot sizes. If your broker allows trading with nano lots, set this to 3 decimals. The default is 2. **Extra Account: While this isn’t a parameter, it can easily be changed in the code (line 43: rewrite, save, and compile). This feature accounts for external funds, such as $10,000 in another broker or bank, ensuring that you don’t split your risk. Since this needs to be updated across all 28 pairs each time, it’s quicker to input directly in the code and recompile, which updates all instances while keeping other parameters intact. Controls - RISK INPUT: Quickly change the risk value, but note that this won’t save once you close MT4. - SELL/BUY: Opens two trades, each with half the lot size. Both have a stop loss set at ATR*1.5, but only one has a take profit at ATR. - SL to BREAKEVEN: Adjusts the stop loss of every open trade back to its initial price. - TRAILING STOP: Updates the stop loss but only activates after the price moves more than 2*ATR. - SHOW: Displays the pip value, the current ATR in pips, and the lot sizes that closely match the risk (along with the real cost). - USE ADVANCED: This option allows you to set custom stop losses and take profits. Do be cautious if this window is open, as those values will be applied when opening new trades or adjusting trailing stops. If USE DATE is set to true (the default setting), the system selects the current ATR based on the hours leading up to the daily candle close, and the latest ATR after a new candle is formed. Common Errors and Misuses - Opening trades when the lots that match the risk are 0.01 or 0.00 (using 2 decimals) will result in an invalid lot size. For instance, with 0.01, one trade opens at 0.01 lots, while the other becomes invalid. - Setting breakeven on a losing trade can also trigger an error. - The EA may interfere with other open trades in the same pair since it doesn’t recognize which trades it has opened. - This EA is optimized for D1 charts. If you’re using other timeframes, ensure USE DATE is set to false or that you’re using custom TP-SL settings. - Manual modifications to orders are still possible. - Avoid clicking SELL or BUY multiple times, as this will open two trades each time. - Keep an eye on your margin; the EA doesn’t check it and won’t prevent overexposure to a single currency across multiple trades. - While it's primarily tested with major forex pairs, it might also work with metals, commodities, or stocks, but that’s not guaranteed. Feel free to report any bugs or make code changes as you see fit. If you’re a beginner (like I am), I strongly recommend understanding risk calculations before diving into this EA. Also, conduct a forward test before using it on real accounts (and confirm your broker supports Expert Advisors, as this can impact performance). Edit: Issue with buy orders not scaling out has been resolved.

2020.08.10

MetaTrader4

Mastering the 5-Minute Chart: RSI, CCI, and MA Trading Strategies for MetaTrader 4

If you’re looking to sharpen your trading game, the 5-Minute RSI, CCI, and MA Expert Advisor for MetaTrader 4 could be just what you need. This handy tool combines the Relative Strength Index, Commodity Channel Index, and Moving Averages to give you accurate trading signals. Before you dive in, make sure to test it out on a Demo Account first! Best of luck with your trading!        

2020.08.09

MetaTrader4

Unlocking Currency Strength: Your Go-To Expert Advisor for MetaTrader 4

Are you looking to amp up your trading game? Look no further than the Currency Strength Expert Advisor (EA), designed specifically for MetaTrader 4. This nifty tool helps you identify the strongest and weakest currencies among the 8 major players and employs moving averages to execute trades. Plus, it comes packed with features like Trailing Stop Loss and Take Profit, making it a versatile option across all time frames and major Forex pairs. Here’s a quick rundown of the different versions: Version 1: Analyzes just one candle back. Version 2: Looks at several candles back using a method similar to the ROC indicator. Check out the details here. Version 3: Utilizes the RSI indicator to assess strength. Version 4: Leverages the Moving Average indicator for calculations. Before diving in, here are a few tips: Always test it on a demo account first to get the hang of it. This EA operates strictly with the price of the open candle! If you're not keen on increasing lot sizes after a losing trade, set the IncreaseFactor to 0. Inputs you can customize: Use_TP_In_Money: Enable or disable Take Profit in monetary terms (true/false). TP_In_Money: Set Take Profit in money (values: 10-100). Use_TP_In_percent: Enable or disable Take Profit in percentage (true/false). TP_In_Percent: Set Take Profit in percentage (values: 10-100). Enable_Trailing: Turn on trailing stop with money (true/false). Take Profit In Money: Specify an amount in current currency (values: 25-100). Stop Loss In Money: Set a stop loss in current currency (values: 1-20). Exit: Close trades if the trend reverses against you to control drawdown (true/false). Lots: Define lot size (values: 0.01-1). IncreaseFactor: Specify how much to increase lot sizes from total margin after a loss (values: 0.001-0.1). Stop_Loss: Set your stop loss (values: 30-500). MagicNumber: Assign a magic number (values: 1-100000). TakeProfit: Set your take profit (values: 50-200). FastMA: Define the fast moving average (values: 1-20). SlowMA: Define the slow moving average (values: 50-200). Mom_Sell: Set the momentum sell trigger (values: 0.1-0.9). Mom_Buy: Set the momentum buy trigger (values: 0.1-0.9). UseEquityStop: Enable or disable equity stop (true/false). TotalEquityRisk: Specify total equity risk (values: 0.01-30). Max_Trades: Define the maximum number of trades (1-12). Just a heads up: you should optimize this EA every few months using the same inputs mentioned above. It can serve as both a hedging grid EA or a single trade EA. Want to learn how to backtest it? Check out this backtesting guide.

2020.07.28

MetaTrader4

Essential Checklist for MQL4 Experts on MetaTrader 4

Hey fellow traders! If you're diving into the world of MQL4 and working with Expert Advisors (EAs) on MetaTrader 4, you know how crucial it is to ensure everything is set up just right. Here's a handy checklist to help you get your EAs running smoothly: Do you have any symbols listed in your Market Watch? Have you checked for trade permissions for the script you’re executing? Is the permission to trade enabled for your Terminal? Are transactions allowed on the trading server side for your EA? Is your current account set up to allow transactions on the server side? Check the stability of your connection to the server. A solid connection is key! What type of account are you running your Expert Advisor on? By ticking off these items, you’ll set yourself up for success in your trading journey. Happy trading!

2020.05.29

MetaTrader4

Maximize Your Trading with the CCI Expert for MetaTrader 4

If you're looking to elevate your trading game, the CCI Expert is a fantastic tool to consider. Based on the well-known CCI indicator, this expert advisor can seamlessly operate across all symbols in your market watch. What sets the CCI Expert apart is its trading approach using fixed position volume. It features a set StopLoss and TakeProfit, making it a straightforward choice for traders who prefer a consistent strategy. Key Inputs: Volume Size StopLoss in Points TakeProfit in Points Max Spread in Points Expert ID      

2020.05.22

MetaTrader4

Master Your Trades with Virtual Profit Close for MetaTrader 4

Introducing Virtual Profit Close If you’re looking to take your trading game to the next level, you need to check out the Virtual Profit Close. This handy expert advisor allows you to take control of any open position, whether it was initiated by another EA or even a manual order. The best part? You can close it out once your desired profit level is reached—virtually! But that’s not all! This tool also offers a trailing stop feature, ensuring that you can lock in those profits as the market moves in your favor. Just remember, the trailing stop is not virtual; it’s as real as it gets! Effortlessly manage your open positions Set and forget your profit levels Utilize a real trailing stop for enhanced profit protection

2020.05.13

MetaTrader4

Unlocking the Potential of Easy Robot: Your Go-To Expert Advisor for MetaTrader 4

If you're a trader using MetaTrader 4, you might have heard about Easy Robot. However, let’s clear the air: it’s not some kind of magical solution or a holy grail that guarantees profits overnight.What is Easy Robot?Easy Robot is an Expert Advisor designed to automate trading strategies on the MetaTrader 4 platform. It’s built to help traders streamline their operations and make trading decisions based on pre-set criteria. But what does that really mean for you?Why Consider Using an Expert Advisor?Time-Saving: Automate your trading strategy and free up time for analysis.Emotion-Free Trading: Let the robot handle your trades, reducing emotional decision-making.Consistency: Execute trades based on rules without second-guessing yourself.What to Keep in MindWhile Easy Robot can be a handy tool in your trading arsenal, remember, it’s essential to have a solid understanding of your trading strategy. No robot can replace your judgment and analysis. Always keep your eyes on the market and adjust your strategies as needed.

2020.05.12

MetaTrader4

Unlocking Profits with RingSystemEA: Your Guide to Triangular Arbitrage on MetaTrader 4

Hey fellow traders! Are you ready to take your trading game to the next level? Let’s dive into the world of RingSystemEA, a nifty tool designed specifically for MetaTrader 4 that leverages triangular arbitrage to maximize your trading potential. What is RingSystemEA? At its core, RingSystemEA is a triangular arbitrage system. This means it uses three currencies to create three pairs, allowing you to open hedge orders efficiently. The beauty of this system is in its simplicity and effectiveness! How It Works The expert advisor kicks off by opening six orders for each ring—three in the positive direction and three in the negative. It patiently waits for price movements in one direction, creating a grid of orders. This setup is perfect for capitalizing on market volatility. Currency Pairing One of the standout features of RingSystemEA is its versatility. You can work with a maximum of eight currencies, creating up to 28 pairs and a whopping 56 rings! Just remember, the order of currencies matters—always arrange them from strongest to weakest. The recommended order is: EUR GBP AUD NZD USD CAD CHF JPY Getting Started To kick things off, you'll need to input a minimum of three currencies and a maximum of eight. The parameters are straightforward, and you can find all the details on this blog. Customizing Your Setup From the external parameters, you can choose to skip certain pairs and set the expert to use only the currencies you prefer. It doesn’t matter which chart or time frame you attach it to; the expert will automatically select the best options for you. Understanding Currency Rings Here's a quick breakdown of how the number of currencies translates to rings: 3 currencies = 1 ring 4 currencies = 4 rings 5 currencies = 10 rings 6 currencies = 20 rings 7 currencies = 35 rings 8 currencies = 56 rings Important Tips Before you dive in, it's crucial to test the expert on a demo account first. This will give you a feel for how it operates without risking your hard-earned cash. Keep in mind, this expert can’t perform a backtest due to its multi-pair strategy. The orders opened in a backtest may seem random and won’t reflect actual trading conditions.

2020.05.03

MetaTrader4

Enhance Your Trading with the Manual Trading Lightweight Utility for MetaTrader 4

If you're looking to streamline your trading experience, you're in the right place! Today, I want to share some insights about a fantastic tool that's been making waves in our trading community: the Manual Trading Lightweight Utility for MetaTrader 4. You can grab the source code for this free MQL4 utility by visiting this link. So, what makes this utility a must-have? Well, it allows you to place orders in a snap, complete with predefined stop-loss and stop-win settings. This means less time fumbling with your platform and more time focusing on your trading strategy! Here’s a quick rundown of what you can expect: Speed: Quickly execute trades without the hassle. Customization: Set your stop-loss and take-profit levels before you dive in. Free to Use: No hidden costs! Just download and start trading. In the fast-paced world of trading, every second counts. With the Manual Trading Lightweight Utility, you can make your trading more efficient and effective. Give it a try today and see how it can elevate your trading game!

2020.04.16

MetaTrader4

Refresh All 28 Currency Charts with Ease on MetaTrader 4

Hey there, traders! If you're looking to streamline your trading experience, I've got a nifty little tool for you. This script pulls tick data straight from your broker's server and refreshes all 28 charts for the 8 most commonly traded currencies in MetaTrader 4 (MT4). This tool is a game-changer for those of us using indicators, trading bots, or any other tools that rely on the 28 pairs. Whether you're using the "Volatility Watcher," the "OBOS Watcher," or anything that measures currency strengths, this will keep your charts in top shape. ⚡⚡ 8 C O M M O N L Y T R A D E D C U R R E N C I E S ⚡⚡ EUR - Euro GBP - British Pound AUD - Australian Dollar NZD - New Zealand Dollar USD - US Dollar CAD - Canadian Dollar CHF - Swiss Franc - Swiss Franc JPY - Japanese Yen ⚡⚡ F E A T U R E S ⚡⚡ Simply attach the indicator to any chart, and it will automatically refresh all 28 charts. One-time setup. No need to rerun it once your MT4 is updated. ⚡⚡ P A R A M E T E R ⚡⚡ You can specify how many bars to extract from the broker's server: ⚡⚡ R E P O R T ⚡⚡ The tool will report any pairs that failed to refresh. This way, you can re-run the tool or manually refresh those specific pairs.

2020.04.03

MetaTrader4

Mastering ATR: Your Go-To Guide for Take Profit and Stop Loss in MetaTrader 4

Hey there, fellow traders! Today, I want to share an exciting template that highlights how to effectively use the Average True Range (ATR) to set your take profit and stop loss levels. If you’re looking to refine your trading strategy, this is a game-changer! The ATR is a fantastic tool for measuring market volatility, and it can help you create a more structured approach to your trades. Here’s how it works: we calculate take profit and stop loss levels using ATR factor multipliers, ensuring you’re not just taking random guesses. Why Use ATR for Your Trading? Enhanced Accuracy: By basing your levels on market volatility, you can make more informed decisions. Risk Management: Properly set stop losses can protect your capital. Adaptability: ATR adjusts to changing market conditions, allowing your strategy to remain relevant. Using this approach can help you navigate the ups and downs of trading with more confidence. So, let’s dive in and start putting this into practice!

2020.03.14

MetaTrader4

Unlocking the Power of Multi Currency Trading with Our Latest MetaTrader 4 Template

Exciting news, traders! We’ve just rolled out the updated Multi Currency Template to version 4.0. This upgrade is a game-changer for those of you looking to enhance your trading strategies. One of the best parts? You can customize the entry logic to fit your trading style. The current setup utilizes Moving Averages, but feel free to tweak it however you like! Just a quick heads-up: while this template excels in live trading, backtesting across multiple symbols isn’t supported at this time. Main Input Parameters Main Input Parameters Value Descriptions Orders Type Buy and Sell Choose between Buy and Sell orders Lots 0.01 Standard Lot Size Stop Loss 50 Set your Stop Loss value Take Profit 100 Define your Take Profit target Trailing Stop 15 Trailing Stop in Points Trailing Step 5 Step for Trailing Stop in Points Magic Number 1 Unique identifier for the trades Slippage 10 Maximum allowed slippage Trade Multipair false Enable or disable multipair trading Pairs To Trade Select your trading pairs Get ready to take your trading to the next level with this powerful template. Happy trading!

2020.03.07

MetaTrader4

Discover the No Nonsense Backtester: Your Ultimate Tool for MetaTrader 4

Check out the new MT5 version! Enjoy easier testing, quicker optimization, and live trading! Introducing the No Nonsense Backtester, your go-to Expert Advisor (EA) for testing No Nonsense Forex algorithms. This EA takes your backtesting game to the next level, allowing you to evaluate your strategies much faster than traditional methods like manual checking or using Soft4x. Main Features: Test up to 100 symbols simultaneously Compatible with nearly all indicators (if you're having trouble, just reach out!) Built on a solid VP algorithm structure Completely customizable to fit your needs Faster than other testing tools available Generate a CSV file for easy analysis of your results post-testing No coding experience needed! Optimization feature can test up to 100,000 different settings to find the best one for you Getting Started: Place the NoNonsenseBacktester.ex4 file in your MQL4/Experts folder Download the indicators folder from: this link Put the nnfxea folder in your MQL4/Indicators folder Download historical data if you haven't already Launch the No Nonsense Backtester on any chart you choose Adjust settings (make sure to change the C1 indicator setting to avoid errors) Wait for the backtest to complete Using Your Indicators: Optimizing Your Strategy: Converting Results to Excel: Understanding Your Results: Here’s a quick breakdown of the key metrics you'll see: Balance: The total amount of money you have at the end of the testing period. Yearly: Your average yearly return expressed as a percentage. DD Balance: Your end balance if your drawdown is fixed (you can lower drawdown by reducing risk). Risk: The input risk level to achieve DD Balance as your actual balance. DD: The current drawdown level. PF: Profit factor – a measure of profitability. TP: Percentage of trades that hit the take profit level. Profit: Percentage of trades that close in profit. Trades: The total number of trades the EA executed. For a more detailed guide to getting started, check out this older PDF file: Download Here Please note: Balance and drawdown figures may not be 100% accurate. If you run into any issues or discover a successful algorithm using this tool, feel free to reach out to me at karel789@hotmail.com!

2020.03.01

MetaTrader4

Master Your Trading with My Trailing: The Ultimate EA for MetaTrader 4

Unlock the Power of My Trailing EA If you're looking to enhance your trading strategy, My Trailing is the perfect solution for your MetaTrader 4 setup. This intuitive Trailing Stop Expert Advisor (EA) allows you to manage your trades more effectively, providing you with a robust framework to maximize your profits. Key Features of My Trailing EA Simple Trailing Stop Mechanism: Set your trailing steps and start point with ease, allowing for a seamless trading experience. Customizable Settings: Tailor the EA to suit your trading style and risk tolerance, ensuring you get the most out of your trades. User-Friendly Interface: Perfect for both beginners and seasoned traders, this EA makes managing trades straightforward. With My Trailing, you'll be able to keep your trades in the green longer, adapting to market movements while minimizing risks. Don’t let opportunities slip through your fingers—equip yourself with the right tools and take your trading to the next level!

2020.02.26

MetaTrader4

Unlocking Trading Success: Your Guide to the Moving Average Template for MetaTrader 4

Hey fellow traders! If you're looking to level up your trading game, you've come to the right place. Today, we're diving into the Moving Average template for MetaTrader 4, and how it can help you make better trading decisions. The Moving Average template is designed to give you signals based on the Moving Average indicator. This means it analyzes price data over a specific period and helps you identify trends in the market. Whether you're a seasoned trader or just getting your feet wet, this template is a fantastic tool to have in your arsenal. What You Can Do with the Moving Average Template Analyze Trends: Use the signals from the Moving Average to spot trends and potential entry or exit points. Customize: Feel free to tweak the template to suit your trading style. Make it your own! Backtest: Use historical data to see how the Moving Average would have performed in past market conditions. Remember, this template is not just for using out of the box; it’s a starting point for further study and development. Dive deep into the settings and experiment with different parameters. The goal is to find what works best for you! So, gear up and get ready to enhance your trading strategy with the Moving Average template. Happy trading!

2020.02.18

MetaTrader4

Unlock Trading Efficiency with PricerEA for MetaTrader 4

What is PricerEA?PricerEA is a handy tool designed for traders who want to place pending orders—whether they’re stop or limit orders—at their desired price points. It’s all about making your trading experience smoother and more efficient!This utility is user-friendly, allowing you to set the exact prices where you want those orders to trigger. Plus, it automatically calculates the lot size for each order, taking some of the guesswork out of your trading strategy.And if that’s not enough, PricerEA also offers the option to run a trailing stop for market orders, but only once a pending order is triggered. This feature can help lock in profits while giving your trades room to breathe.How to Use PricerEAHere’s a quick guide on how to get the most out of PricerEA:BuyStop: Set this to open a buy order above the current market price.BuyLimit: Use this to open a buy order below the current market price.SellStop: This will open a sell order below the current market price.SellLimit: Use this to open a sell order above the current market price.

2020.02.15

MetaTrader4

Maximize Your Profits with Carry Trade Tools for MetaTrader 4

Hey there, fellow traders! If you're looking to boost your income beyond just your regular trading profits, then carry trading might just be your new best friend. With the right tools, you can earn extra from swap positions. Let’s dive into how you can set this up with MetaTrader 4! Getting Started with Carry Trade One cool thing about carry trading is that it allows you to earn interest on your positions. If you're opening swap-earning positions, you're not only trading but also generating additional income. It’s like having your cake and eating it too! Customizing Your Carry Trade Pairs If you find that the trading pairs you want to work with aren’t available in the default list, don’t worry! You can easily add them yourself. Here’s how to do it: Locate the part of your script that lists the pairs. Simply add your desired pairs to the array. Make sure to increase the PairCount and update Pairs[x] accordingly. Sample Code Snippet Here’s a simple example to help you get started: //=====================================================================// //    Variables //=====================================================================// int    PairCount =7; string Pairs[7]={"EURUSD","GBPUSD","AUDUSD","NZDUSD","USDCAD","USDCHF","USDJPY"}; Once you’ve got this set up, you’ll be well on your way to reaping those swap benefits! So, what are you waiting for? Dive into your MetaTrader 4, customize your pairs, and start maximizing your profits with carry trade tools!

2020.01.25

MetaTrader4

Mastering Dynamic Stop Loss: A Game-Changer for MetaTrader 4 Traders

Hey there, fellow traders! If you’ve ever found yourself trading without a stop-loss, then you know how risky that can be. But what if I told you there’s a nifty tool that lets you trade like there’s no stop-loss in place, while actually having one? Enter the Dynamic Stop Loss! This innovative tool is designed for those who want to keep their trading strategy flexible without sacrificing risk management. Think of it as your secret weapon to navigate the markets with confidence. So how does it work? Instead of setting a fixed stop-loss, the Dynamic Stop Loss adjusts based on real-time market conditions. This means you can stay in profitable trades longer while protecting yourself from sudden downturns. Why Use Dynamic Stop Loss? Flexibility: It adapts to market volatility, allowing you to ride the trends. Enhanced Risk Management: You can manage your risk without locking yourself into a fixed exit point. Improved Profits: Stay in the market longer and maximize your profit potential. With Dynamic Stop Loss, you can trade with peace of mind, knowing that your risk is managed effectively. So why not give it a shot on MetaTrader 4? Happy trading!

2020.01.20

MetaTrader4

Mastering the Candle Cross Strategy in MetaTrader 4

If you’re looking to step up your trading game, the Candle Cross strategy could be just what you need. It’s a straightforward yet effective approach to help you identify potential buy and sell signals in the market. Here’s a simple code snippet for setting up Candle Cross conditions in MetaTrader 4. You can easily adapt this to your trading style: Main Function bool   crossed[2]; //+------------------------------------------------------------------+ int OnInit() { for (int i = 0; i < ArraySize(crossed); i++) crossed[i] = true; return(INIT_SUCCEEDED); } //+------------------------------------------------------------------+ void OnTick() { //Your Buy condition if(Cross(0,Open[0] > Condition)) { ....//your conditions//... } //Your Sell condition if(Cross(1,Open[0] < Condition)) { ....//your conditions//... } } //+------------------------------------------------------------------+ bool Cross(int i, bool condition) { bool ret = condition && !crossed[i]; crossed[i] = condition; return(ret); } Keep in mind that this is just a sample code to get you started. Feel free to tweak it based on your trading preferences and strategies! Always remember, practice makes perfect. So, jump into your demo account and experiment with this strategy. Happy trading!

2020.01.11