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Whittaker Hourly ATR volatility indicator for Metatrader
I started to think recently about the ATR indicator and how it may be useful in markets that open and close. However, it seems to me the indicator is completely flawed at measuring volatility in the Forex markets. My theory behind this opinion is the simple fact that the Forex markets are open 24 hours a day. So how could averaging the low volatile hours before a major market open (New York, London, or Asia) be relevant? Traders who are well versed in Forex understand that even though the markets are open 24 hours a day there are best...
read moreGlobally Diversifying Your Assets Outside of the United States Dollar
Someone recently asked me how they can protect their dollar denominated assets from falling in value. The process is actually very simple. The first thing you need to do is open an account with Oanda. They are a currency trading broker. Once your account is opened you can wire your money or send them a check. They have multiple methods of accepting your money. Once it is transferred you can see from the image snapshot here from their website you can transfer your money into sub-accounts. However, the catch is you can specify what...
read moreHow MT4 Calculates Spread and How to Manually Change it.
MT4 has a crude way of calculating the spread on each trade. It basically takes the current market spread at the time you run your backtest and applies that to all of your trades. Unfortunately if someone is programming and testing on the weekends all of their results are going to be skewed because of the fact that the spreads on the weekend/after hours are so high. You can check the spread that your MT4 platform is going to use by clicking on symbol properties button from within your tester. If you want to statically set this variable...
read moreSwiss Swissy Scalper strategy eurchf
Two strategies built into one conservative and aggressive. Set via input Second strategy labeled aggressive. EUR/CHF 1 hour Stealth mode where Stop loss and profit are not sent to broker. Set via input NFA input enabled on brokers who do not allow for hedging GMT offset input S1 status used for strategy 1 trades Set a slippage input value that cannot be exceeded Set risk level .01=1% of capital gone if you stop out .05=5% etc. Maximum stop loss value of 150 adjusts dynamically Maximum profit value of 15 adjusts dynamically MMLots function...
read moreWhat is MarketInfo(Symbol(), MODE_STOPLEVEL) in MT4
Recently I ran across this command in a strategy I was decompiling. Here is an example of how to properly use MarketInfo(Symbol(), MODE_STOPLEVEL) if (My_stop_loss < MarketInfo(Symbol(), MODE_STOPLEVEL) My_stop_loss= MarketInfo(Symbol(), MODE_STOPLEVEL); What this line of code basically does is take your existing stop loss value. If it is lower than the allowed amount from your broker it sets your stop loss to the minimum amount allowed. In this example it is a long trade.
read moreTop 10 riskiest economies in order
Greece Venezuela Ireland Portugal Argentina Ukraine Spain Dubai Hungary Iraq
read moreCreating a SMA or simple moving average cross alert with email in Metatrader or MQL4
Below is a link and the code to create a simple SMA moving average crossover in Metatrader. MQ4 format EX4 format //+——————————————————————+ //| Moving Average Cross Alert.mq4 | //| Copyright © 2010, Jeremy Whittaker | //| http://www.JeremyWhittaker.com...
read moreSetting up Metatrader for better backtesting quality
If you’re working with a default installation of MT4 or Metatrader chances are you modeling quality is not very good. I have composed this post to show how I import data into MT4 for better backtesting performance. First thing you need is high quality historical data in CSV format. I have found Forex Tester to be very beneficial for that, http://www.forextester.com/data/datasources.html. 1. You will want to download the file that pertains to the pair you will be trading. 2. The next step is unzipping the file using a simple Zip...
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