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EUR/USD Ends Four-Day Rally

September 27, 2016

EUR/USD fell today, declining for the first day in five. One of the major reason for this was the general consensus that Hillary Clinton won the Monday’s presidential debate with Donald Trump, and that was considered a positive outcome for the dollar. Tuesday’s economic data from the United States also benefited the US …

Is Forex Market Random?

September 26, 2016

Are Forex charts random? Does trying to predict the market and trade currencies for profit even makes sense? Traders and curious people ask these questions and, I am sure, find a lot of contradicting answers online. The number of traders who claim getting consistent profits from the foreign exchange market is …

EUR/USD Extends Rally for Fourth Day

September 26, 2016

EUR/USD rose today, extending its rally for the fourth consecutive session. Uncertainty about the outcome of the presidential elections in the United States and concerns that Donald Trump may win Monday’s debate with Hillary Clinton were driving the dollar lower versus its peers. Better-than-expected data from US housing market …

Forex Brokers Update — September 25th, 2016

September 25, 2016

It looks like September will be the first month without new brokers being listed on EarnForex.com for a long time. It seems to me that the regulatory burden is taking its toll from the number of new companies in this industry. Updates to the listed brokers this week include:

Tradeo added …

Weekly Forex Technical Analysis (Sep 26 — Sep 30)

September 24, 2016

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1005 1.1064 1.1140 1.1198 1.1274 1.1332 1.1408

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1068 1.1148 1.1202 1.1282

EUR/USD Extends Rally After Wednesday’s Policy Announcement from Fed

September 22, 2016

EUR/USD extended its yesterday’s rally that was caused by the passiveness of the Federal Reserve. Today’s data was not helpful to the US dollar either as both housing data and the leading indicators missed expectations. Only unemployment claims were better than forecasts.

Initial jobless claims fell from …

EUR/USD Moves Higher After FOMC Stays Passive

September 21, 2016 (Last updated on September 22, 2016)

EUR/USD was moving higher today, and while it paused for a short time during the policy announcement from the Federal Open Market Committee, the currency pair continued to move to the upside afterwards.

US crude oil inventories dropped by 6.2 million barrels last week instead of rising by 3.2 million …

Major Fixing of Position Size Calculator + Symbol Leverage Display

September 20, 2016

I have uploaded a new version of Position Size Calculator indicator for MetaTrader today. It addresses several issues mentioned in the forums and in support messages and provides better usability. Here is the list of changes:

    Calculated symbol Leverage is now visible in the Margin tab of the panel. Fixed a bug that

Forex Brokers Update — September 18th, 2016

September 18, 2016 1 Comment

With another week gone without new brokers added to EarnForex.com, it is time to report on the changes to the existing listings:

eToro‘s minimum account size is $200 instead of $50.

Alpari now offers CFD instruments in its ECN accounts.

OctaFX added MT4 Micro account with $5 …

Weekly Forex Technical Analysis (Sep 19 — Sep 23)

September 17, 2016

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0973 1.1061 1.1107 1.1195 1.1241 1.1329 1.1376

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1051 1.1086 1.1185 1.1221
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Major Fixing of Position Size Calculator + Symbol Leverage Display

September 20, 2016

I have uploaded a new version of Position Size Calculator indicator for MetaTrader today. It addresses several issues mentioned in the forums and in support messages and provides better usability. Here is the list of changes:

    Calculated symbol Leverage is now visible in the Margin tab of the panel. Fixed a bug that

MetaTrader Panel for Position Size Calculator

September 7, 2016 5 Comments

In February 2008, I have launched a simple online position size calculator — a tool that helped thousands of traders to open trades based on their risk preference. In March 2012, I have published the first version of position size calculator (PSC) indicator for MetaTrader. Now, 4 …

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 …