The Parabolic Stop-And-Reverse (SAR) indicator and the Relative Vigour Index (RVI) oscillator are our next pairing to consider within these series. This time, this duo brings together trend identification with momentum tracking. As we have in past articles, we consider 10 possible signal patterns that can be generated from combining these two indicators, and we have them tested in a wizard assembled Expert Advisor. With that, let's look at the definitions of these 2 indicators. more...
In the following sections, we’ll dive into the EA’s structure, walk through its customizable settings, and show how its performance metrics can sharpen your price‑action trading approach. Let’s start by exploring the specific candlestick patterns this EA watches for, examining each candle’s anatomy and the calculations used to pinpoint them. more...
In this article, we advance our MQL5 Economic Calendar series by preparing the trading system for strategy testing in non-live mode, leveraging embedded economic event data for reliable backtesting. Building on Part 6’s automation of trade entries with news analysis and countdown timers, we now focus on loading news events from a resource file and applying user-defined filters to simulate live conditions in the Strategy Tester. more...
Algorithmic trading strategies have greatly revolutionized financial trading by allowing traders to quickly make informed decisions. This has helped to eliminate human error and emotional biases as the automated systems follow predetermined parameters in the fast-paced market environment. Therefore, in automated trading, there is consistency as the system uses the same logic to execute trades every time. It is a common practice to build and implement automated techniques using MetaTrader ...
In one of the previous articles of the series, I touched on the topic of risk control and developed a risk manager class that implements basic functionality. It allows setting a maximum daily loss level and a maximum overall loss level, upon reaching which trading stops and all open positions are closed. If a daily loss was reached, trading was resumed the next day, and if an overall loss was reached, it was not resumed at all. more...
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