Forex Blog

Today I’ve updated the Pattern Recognition Master indicator with a new version that works properly in MetaTrader 5. The indicator was rather poorly written in MT4 so I’ve got a lot of room for improvements in the new MT5 version. This indicator will come to use for any Forex trader that…

It’s been a while since the last time I’ve converted some indicator from MT4 to MT5 platform. So, today I present Support and Resistance indicator, which was initially written by Barry Stander for MetaTrader 4. It was a very simple conversion since the code was quite small in the MT4…

The new Forex trading strategy that was added to my site today is the Combined Stochastic Oscillator/MA strategy, which is based on of the Forex videos that I’ve seen recently. The basic principle of this this strategy is rather simple. You have a long-term trend confirmed with…

I’ve converted the Laguerre trend’s strength indicator from MQL4 to MQL5 today so that it can now be used in MetaTrader 5 platform. Not much interesting in the process of the conversion and the MT5 platform doesn’t add anything useful or new in functionality to this indicator, but I guess some traders…

VarMovAvg is the 4th indicator that I’ve converted from MT4 to MT5. It was quite easy and the resulting code is now much simpler and faster than it was in MQL4. This indicator is great for trend detection and I recommend you downloading it to try in MT5 beta testing. While…

If you are interested in learning more about various chart patterns that can be used in Forex trading or need to gain some basic knowledge on some simple technical indicators, then the latest free e-book that was added to my site today is for you. It gives a detailed description…

I’ve converted my first histogram MetaTrader indicator from MQL4 to MQL5. It’s a Fisher indicator. I was asked by one of the site visitor to make it my next conversion. As this indicator looks quite popular (5th place with more about 500 downloads monthly), I’ve gave it a try.…

MetaQuotes Software Corp., the developer of the MetaTrader software series announced yesterday an open beta testing for its new long-awaited product — MetaTrader 5 terminal. It’s a great event for many Forex traders, indicator and EA developers, Forex brokers and other currency market participants that will be benefiting from this…

Indicators are great tools that allow forming trading strategies and systems in Forex. They present an easy-to-understand visual form of what’s going on in the market (on the chart, actually) without requiring a trader to perform various rather difficult and time-consuming calculations. Modern trading platforms, like MetaTrader 4, allow traders to create their…

Many traders ask me for the detailed descriptions of the Japanese candlestick patterns that are detected by the MT4 indicator Pattern Recognition Master. So, here’s the list of the patterns that it can recognize with the corresponding chart pictures and signal descriptions:

Bearish patterns
	Shooting star. Can signal

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