Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders


Forex Brokers Update — July 24h, 2016

July 24, 2016 No Comments

Three new brokers became listed on this week:

JCMFX — an offshore company registered in Saint Vincent and the Grenadines. JCMFX offers Forex, CFD, and gold & silver trading starting from $100 via MT4 platform.

Hydra Markets — a Georgian Forex broker with standard …

AUD/NZD to Finalize Double Top on H4 Chart

July 24, 2016 2 Comments

The Australian dollar had a rally going against the New Zealand dollar from July 8 through July 19. AUD/NZD has been consolidating in a kind of a double top pattern since then. The pattern is completed only when the right top’s slope reaches the neckline, but it is already time …

Weekly Forex Technical Analysis (Jul 25 — Jul 29)

July 23, 2016 No Comments


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0796 1.0876 1.0925 1.1005 1.1054 1.1133 1.1183

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0868 1.0910 1.0997 1.1039

EUR/USD Tries to Rally — Retains Bearish Bias

July 21, 2016 No Comments

The EUR/USD currency pair was in a slow decline during the most of the trading session today. It had spiked up, attempting to start a rally, following some mediocre fundamental US data, but then quickly returned to its way downwards.

Initial jobless claims went down from 254k to to 253k

EUR/USD Declines Without Much Regard for Fundamentals

July 19, 2016 2 Comments

The US dollar is strengthening against the euro for the most part of the day today, without paying attention to reports released in the eurozone or the United States. The general market sentiment is skewed into risk-aversion as traders and investors remain worried about the Brexit.

Housing starts rose from the seasonally adjusted annual rate of 1.135 …

Brexit — Did You Win or Lose?

July 18, 2016 1 Comment

We have not written much about the Brexit because there already was a ton of analysis written by many respectable sources. And it all turned wrong on June 24 of course. Nevertheless, the unexpected outcome of the referendum offered a huge earning opportunity to FX traders. …

Forex Brokers Update — July 17th, 2016

July 17, 2016 No Comments

Two new Forex brokers have been added to the list during the week:

FX Giants — a UK-regulated company with an interesting range of account types — from micro to zero spread, to zero commission STP. Only MetaTrader 4 is available as a trading platform. The maximum leverage is 1:500.

Milton Markets

Weekly Forex Technical Analysis (Jul 18 — Jul 22)

July 16, 2016 No Comments


Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0823 1.0919 1.0972 1.1068 1.1121 1.1217 1.1270

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0908 1.0950 1.1057 1.1099

US Retail Sales and Industrial Production Help USD vs. EUR

July 15, 2016 No Comments

EUR/USD was trending strongly down today thanks to the positive macroeconomic reports from the United States. Although not all of the released data was optimistic, the main numbers were better than forecasts. The currency pair attempted to stage a correction near 14:00 GMT but failed and continued down.

Retail sales

EUR/USD Climbs After BoE, Trims Gains Later

July 14, 2016 1 Comment

EUR/USD climbed today after the Bank of England surprised markets, deciding to avoid monetary easing for now. (Event A on the chart.) The euro profited from the resulting surge of risk appetite. Currently, the currency pair is moving sideways after retreating closer to the opening level as the BoE also signaled about the possibility of an interest rate …

MT4Forex bookchart patternsForex pollinfographicstutorialMetaTrader script

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 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 No Comments

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 No Comments

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) No Comments

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 No Comments

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 No Comments

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 No Comments

Four years ago, I have converted Schaff Trend Cycle (STC) for MetaTrader (MT4 and MT5) and uploaded it to 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) No Comments

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 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) No Comments

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 …