Get the BEST Products at the Lowest Price and become a Trader in line with the advancement of Technology. Awesome Features! Magic Order Based on Magic No selection. and Many More Login Now. 25% OFF; Forex Trade Copier Service, Telegram Copy Trade, Telegram Signals Copier, MT4 Telegram Copier Signals, Copy Signals From Telegram To For the slow line, it merely uses the value of the 9 EMA. To produce the bars, take note of the 9 EMA, which is considered the slow line. Next, observe how the fast line goes up and down the slow line. Imagine that you stretch the 9 EMA into a straight line, and while doing so, the fast line Thank you for downloading “6 Simple Strategies for Trading Forex”. This book is designed for beginning, intermediate and advanced traders. The presenters in this book are leading experts in trading the Forex market. As a bonus, you will also be exposed to a chapter on Trading Psychology and how to trade Forex pairs on the Nadex exchange
Ichimoku Kinko Hyo: What's the Best Time Frame to Use it?
Welcome to how to use magic line forex second part of our MetaTrader4 Expert Advisor course! Missed the first part? After this article, you will feel comfortable with the MetaEditor and know how to create a new expert advisor. Your career is the engine of your wealth. Before we begin, please make sure that from now on, everything you run is on a demo account!
You should also be somewhat familiar with MetaTrader. The toolbar in this screenshot should be a familiar sight to you. These are the default controls that more or less every MetaTrader application should have. Click on the Strategy Tester button left circle and you should see the following at the bottom of the window:. This is where we are going to run our expert advisors! This is also where you will be able to backtest your strategies. You can think of this as the control center of your future expert advisors!
This should open the editor I was talking about earlier on. A new window will open, which should look similar to this:. This is where the magic happens.
This is like Disneyland for us EA developers. Next up: some wizardry! You can already see that you can do much more with MQL4 than just create Expert Advisors! You can also create your own indicators, create a script which is just another name for a piece of code that runs just once in the client terminal and create libraries which are sets of functionality that can be used by multiple expert advisors.
Whoa, not too much in one go! Give the expert advisor a catchy name, such as ForexWall-E. Leave all other settings as they are and click Next. The next 2 screens in the wizard will show you some options related to events.
Leave everything on its default settings and click next and finish. You have just created your first expert advisor. Well done, give yourself a quick pat on the back!
What you have just created is is a fully functioning Expert Advisor. On the bottom part of the MetaEditor, you should see something like this:. Now go back to MetaTrader 4. You should still have the Strategy Tester on the bottom of the window. In the first dropdown, you should now be able to find your new EA:.
When you use the same Strategy Tester settings the From and To date are not too important yetyou can click Start to test your newly created strategy.
Give it a moment to calculate, and you should be presented with a green bar on the bottom, indicating your EA finished running. Have a browse through them. For now, Results and Graph will be empty since no trades have been made yetbut the Report and Journal tabs will show information about the expert advisor test run and some logging information, respectively:. Pretty nice huh?
It should build without issues difficulties with this? Let me know in the comments, I can help you out! But first: what are ticks? A tick in the context of forex means the smallest increase or decrease in price that a currency pair can make. Therefore, every time you see the price move up or down in the smallest way, that is a tick. It is also when the OnTick event gets called. This is our function declaration. We indicate the availability of this function, so it can be called.
OrdersTotal is a built-in function in the MQL4 language and returns the number of orders that are currently open. This line means that we fetch the value of the exponential moving average or EMA. We will use this moving average value to determine if we should enter a trade or not. Now, a lot of parameters are used with this EMA!
This is what they mean:. There are loads more built-in indicator in MQL4, such as iStochastic and iRSI. In other words: if the how to use magic line forex is more than 50 pips below the EMA line, we should buy. Finally, we get to make the actual order!
The OrderSend function is another built-in function that allows us to programmatically create an order. In this case, we create a buy order for 0, how to use magic line forex. Click the Compile button once again and then go back to MetaTrader. Start the expert advisor test in the Strategy Tester.
And as you can see, it even seems our first expert advisor even made a modest profit largely by luck, no doubt. your results may be different depending on the currency pair, chosen timeframe and broker.
Next time, we will continue with our expert advisor and how to use magic line forex by step improve it and make it more solid. If you have questions, please let me know in the comments. Subscribe to my newsletter below if you want to be kept up to date on when the next part of this course is published! I'm a full-time, independent fx and futures trader.
I've been trading for over 14 years and specialize in price action trading, order flow, trading psychology and algorithmic trading, how to use magic line forex.
When I'm not trading, I'll either be traveling the world or rock climbing likely both. Trading Futures, Forex, How to use magic line forex and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This article is part of a series, how to use magic line forex. Here are the other parts: Part 1: MT4 EA Forex Course: Intro Part 2: MT4 EA Forex Course: our first forex expert advisor current page Part 3: MT4 EA Forex Course: Trailing Stops Part 4: MT4 EA Forex Course: buy and sell Part 5: MT4 EA Forex Course: ATR stops and position sizing Welcome to the second part of our MetaTrader4 Expert Advisor course! Get it? Robots, automated programs. Ah, moooving on!
These are your first steps into a new world — with a huge potential pay-off. The MetaTrader Strategy Tester The toolbar in this screenshot how to use magic line forex be a familiar sight to you.
Click on the Strategy Tester button left circle and you should see the following at the bottom of the window: This is where we are going to run our expert advisors!
A new window will open, which should look similar to this: This is where the magic happens. A note on Events The next 2 screens in the wizard will show you some options related to events. We can set the frequency in seconds ourselves.
This is useful if you want to run or check something every X seconds. OnChartEvent : handles a collection of events related to chart actions click of mouse, chart changes, objects that get created, when something is dragged on the chart.
Useful if you want to intercept user actions while the EA is running. OnTester : this event gets called only when testing the EA, just before the test is done. This is where you could request testing data from the EA, such as profit, the balance, the number of trades your EA has made, etc, how to use magic line forex. Still with me? Running an Expert Advisor What you have just created is is a fully functioning Expert Advisor.
On the bottom part of the MetaEditor, how to use magic line forex, you should see something like this: Now go back to MetaTrader 4.
In the first dropdown, you should now be able to find your new EA: When you use the same Strategy Tester settings the From and To date are not too important yetyou can click Start to test your newly created strategy.
Notice the new tabs that have appeared at the bottom: Have a browse through them, how to use magic line forex. For now, Results and Graph will be empty since no trades have been made yetbut the Report and Journal tabs will show information about the expert advisor test run and some logging information, respectively: Pretty nice huh?
About forex ticks A tick in the context of forex means the smallest increase or decrease in price that a currency pair can make. Code walkthrough void OnTick This is our function declaration. The take profit will also be 50 pips for the same reason as above.
Now, the Results, Graph and Report tabs are not so boring anymore: And as you can see, it even seems our first expert advisor even made a modest profit largely by luck, no doubt.
Everyone loves a graph going up, right? Conclusion Whoop, part two of our MT4 expert advisor course packed a lot of information! You might also like this: MT4 EA Course: ATR Stops How to use magic line forex Position Sizing MT4 EA Course: Buy And Sell MT4 EA Course: Trailing Stops MT4 Expert Advisor Forex Course Intro Email price alerts in Metatrader 4.
How to use a trend line to make money in Forex? Just use Magic Stick blogger.com
, time: 1:09MT4 EA Course: create your own expert advisor
19/07/ · The code may seem a bit complex, so let’s go over it line by line. But first: what are ticks? About forex ticks. A tick in the context of forex means the smallest increase or decrease in price that a currency pair can make. Therefore, every time you see the price move up Thank you for downloading “6 Simple Strategies for Trading Forex”. This book is designed for beginning, intermediate and advanced traders. The presenters in this book are leading experts in trading the Forex market. As a bonus, you will also be exposed to a chapter on Trading Psychology and how to trade Forex pairs on the Nadex exchange 01/07/ · The default setting is 26 periods and you can adjust it. On a daily chart, this line is the mid-point of the day high-low range, which is almost one month). Senkou Span A (Leading Span A): (Tenkan Line + Kijun Line)/2)) This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries
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