Forex Blog

This blog offers fundamental analysis, technical analysis and various currency trading information.

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Factors to Consider Before Entering a Trade

August 29, 2016

Sometimes, when your trading strategy generates a signal, you might still wonder whether this particular trade is worth executing. Perhaps, there are some factors that should be considered before opening a position? Algorithmic trading systems as well as the most short-term human traders (e.g., scalpers) …

Forex Brokers Update — August 28th, 2016

August 28, 2016

No new brokers to report on during the last two weeks, but some of the listed one have been updated and some removed:

RoboForex extended its range of metal based pairs — you can now trade euro vs. silver and gold. Added bitcoin as a deposit/withdrawal option.

ForexTime (FXTM) increased maximum …

Weekly Forex Technical Analysis (Aug 29 — Sep 2)

August 27, 2016

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0952 1.1066 1.1126 1.1240 1.1300 1.1415 1.1474

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1052 1.1099 1.1227 1.1273

EUR/USD Dips After Yellen Talks About Interest Rate Hike

August 26, 2016

Economic data released from the United States during today’s trading session was not spectacular but it had limited importance anyway as traders’ attention was glued to the Jackson Hole meeting and the speech of Fed chief Janet Yellen in particular. While Yellen did not say anything shocking …

EUR/USD Edges Higher Ahead of Jackson Hole & Yellen’s Speech

August 25, 2016

EUR/USD rose a bit today after two days of decline, though the currency pair has trimmed its gains as of now. Traders are focusing their attention on tomorrow’s symposium in Jackson Hole and speech of Fed Chairperson Janet Yellen. Market participants hope that Yellen will give hints regarding timing …

EUR/USD Goes Down, Ignoring Economic Data

August 24, 2016

US economic data released during the Wednesday’s session was disappointing with existing home sales falling more than was expected. Meanwhile, German GDP growth in the second quarter of 2016 was at 0.4% according the revised estimate, unchanged from the preliminary one, while experts had anticipated …

EUR/USD Loses Gains Made Earlier During Session

August 23, 2016

EUR/USD was rising during the current session, getting help from a bunch of solid PMI figures released from the eurozone. Yet the currency pair has reversed its upside movement as of 12:00 GMT and was moving down ever since. Weak manufacturing data from the United States did little to stop …

Italian Forex VPS from HostingStak

August 22, 2016

The list of MetaTrader VPS providers on EarnForex.com has been updated with one more company — HostingStak. It is a general hosting provider with special offers for VPS solutions aimed on Forex traders. The range of monthly prices goes from €30 to €140 and can satisfy traders with different requirements …

Weekly Forex Technical Analysis (Aug 22 — Aug 26)

August 20, 2016

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0983 1.1068 1.1196 1.1281 1.1409 1.1494 1.1622

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1079 1.1217 1.1292 1.1430

Dollar Still Feels Weight of FOMC Minutes

August 18, 2016

The US dollar continued to feel pressure from yesterday’s FOMC policy minutes today, falling against other major currencies. Thus, EUR/USD continued to move higher. While the rally of the currency pair was very limited yesterday, it is rather strong today. Positive economic indicators released from …

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See Currency Rate Change in Percents on Your Chart

June 13, 2016 1 Comment

Daily Percentage Change is the latest addition to the list of free MT4/MT5 indicators I share on EarnForex.com. It is loosely based on this MT4 indicator. The main advantage of such an indicator is that it can be used in price action trading to get the understanding of the current session’s direction …

MetaTrader Templates Tutorial — Copying Settings Between Charts and Platforms

May 20, 2016

You might already know how to copy input parameters for a single indicator across different charts and platforms. You also might have mastered the power of copying the whole account profiles from one MetaTrader instance to another. However, sometimes, what you need is just to copy one chart — …

Will Hedging and Real Ticks Backtesting Sway You Toward MT5?

May 9, 2016

In March, MetaQuotes had launched a public beta of MetaTrader 5 platform with position hedging and backtesting on real ticks. In April, the developer had pushed the modification to brokers’ demo servers. The companies can disable creation of hedging accounts in MT5 (which they mostly do). However, the feature is already there and soon …

How to Add Alerts to MetaTrader Indicators

March 22, 2016 (Last updated on March 23, 2016) 1 Comment

Originally, I intended this post as a do-it-yourself guide on how to add alerts to MetaTrader indicators without knowing how to code at all. But writing it, I came to realization that even if a trader knows nothing about MQL language and coding he will have to learn some basics through this guide …

Display Weekly and Monthly Market Profile in MetaTrader

January 25, 2016

After introducing the MetaTrader Market Profile indicator back in 2010, today I have finally updated both the MT4 and MT5 versions to work with weekly and monthly trading sessions in addition to the daily ones. Also, I have improved its functionality and fixed a number of bugs:

    Color scheme selection is now

Another Expert Advisor to Trade the News

December 24, 2015

A way to celebrate Christmas and the New Year for me is to share something with other traders. Years ago, I have uploaded Amazing EA for MT4 that was coded by someone calling himself FiFtHeLeMeNt. Five years ago, I have converted it to MT5. That expert advisor is rather bulky …

Schaff Trend Cycle Converted for cTrader (+ Alerts)

December 18, 2015

Four years ago, I have converted Schaff Trend Cycle (STC) for MetaTrader (MT4 and MT5) and uploaded it to EarnForex.com. In March 2014, I also shared an MT4 version with limited alerts capability. Starting from today, you can get a free Schaff Trend Cycle indicator for cTrader. Also, …

Pips Display in Position Size Calculator Indicator

November 30, 2015 2 Comments

I am releasing a new version of Position Size Calculator indicator today. The main new feature is the display of pips distance for stop-loss and take-profit below the respective lines on the chart. It is turned on by default, so you will need to set ShowLineLabels to false if you do not …

Traders Dynamic Index (TDI) Converted to MT5 and cTrader

November 26, 2015 (Last updated on December 18, 2015)

As a way to celebrate Thanksgiving, I have finally found some time to convert one of the most popular MT4 indicators to the two less popular platforms: MetaTrader 5 and cTrader. You will also find a more detailed and precise description of the indicator on EarnForex.com. Meanwhile, I have also updated the MT4 version for better compatibility with …

Calculate Maximum Potential Loss in MetaTrader

April 24, 2015 (Last updated on May 31, 2015)

If you ever wondered what is the total cumulative risk of your currently open orders and positions, then my latest MetaTrader tool — Risk Calculator — will help you to answer that question even if you have many orders with interwoven stop-loss and take-profit levels.

Although, I am …