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.

Thank you so much that's very helpful.

JohnnyRy wrote: Tue Apr 30, 2024 3:34 am Just a word of caution here. The coder of that EA does customers a solid by providing specific broker-dealer and instrument information on the sales page.

@miccaluko155, I see that you're in the U.S. The coder recommends IC Markets as the broker-dealer. IC Markets is an overseas CFD dealer. As CFD's are banned in the U.S., you likely face an insurmountable challenge in finding a suitable broker-dealer for the EA. CFD dealers generally offer instant trade execution because they are strictly in-house market makers not connected to any underlying interbank forex market. In contrast, all U.S. forex trades must ultimately be cleared in the interbank market--and this generally requires market execution (as opposed to instant). If you buy the EA and flop it onto an M1 chart with a U.S. market execution broker-dealer, you might get unpleasantly surprised by slippage and/or requotes. Generally speaking, M1 strategies are highly tailored to a specific broker-dealer because higher data resolution means greater data discrepancies across different broker-dealers. We also have to consider the fact that the EA only trades during times of high volatility, and volatility's gnarly effect on spread, slippage, and requotes in a market execution environment.

I would say at least, backtest the EA on real tick data in your specific live account before buying the EA.

this EA has :
- ancient signal
- is small in size (so it doesn't store trading dates like the other EAs)
- backtest the same on almost anything you give it to
- reasonably priced

ionone wrote: Wed May 01, 2024 1:56 am this EA has :
- ancient signal
- is small in size (so it doesn't store trading dates like the other EAs)
- backtest the same on almost anything you give it to
- reasonably priced

Really $1200 = reasonably priced????

mrtools wrote: Wed May 01, 2024 2:21 am Really $1200 = reasonably priced????

double bottom/top levels!
m15& m30 m1 all are double bottom
try now !!
H1 uptrend but tripple bottom .

yes

sal wrote: Wed May 01, 2024 4:03 amyes

If you add mladen's Volatility ratio (non-directional) indicator to your tops and bottoms, you likely won't need the 1200 USD EA.

mrtools wrote: Wed May 01, 2024 2:21 am Really $1200 = reasonably priced????

well for a working EA, I think it's reasonably priced, all things considered (if you consider that a good working EA is at least $100K)

Synthetic VIX

created from that video with a very simple formula it looks very very similar to VIX

yellow line is the VIX (bullish) red line is the bearish "VIX"

Jeff