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Re: Something interesting please post here (Metatrader)

JohnnyRy, Tue Apr 30, 2024 5:48 am

miccaluko155 wrote: Tue Apr 30, 2024 5:21 am Can you please DM me the ea's name if you know a good one?
No. Sorry.

I think everyone starting out in forex trading is naturally attracted to intraday trading, scalping and/or high frequency trading--maybe due to the media buzz surrounding it.

If you decide to leave the intraday desires behind, you might want to have a look at a short video that I find rather sensible and telling. It's not an automated strategy nor any actual strategy but important concepts are discussed. Pay particular attention to the timeframes and drawing tools mentioned within the video, e.g., "nothing clever":



Then consider setting up something like below. It's a 100 pip (1000 point) Range Bar chart of the Fiber (EURUSD). Fiber moves an average of about 115 pips per week, so a 100 pip Range Bar chart is really just a smoothed out and rounded down weekly chart. The Range Bar generating EA goes on a naked M1 chart, and the indicators go on the generated custom Range Bars chart. You must manually (visually) determine the start of the current price trend, e.g., up, down, or sideways; and enter the trend's start bar shift number into the linear regression channel indicator inputs. The linear regression channel is primarily controlling with occasional confluence of the support and resistance indicator. The inner channel lines are based on Fibonacci Ratios. By posting the EA window and the indicators window (like member wFish does), searching out the mq5 files should be easy.

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