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Sort of Inverse Head-and-Shoulders Pattern on Daily USD/CHF Chart

January 17, 2021

Even though the pattern is far from being a perfect example of a classic inverse head-and-shoulders formation, what we now see on the daily chart of the USD/CHF currency pair still looks like an opportunity to trade a trend-reversal breakout setup. The pattern began forming back in early December and is now fully formed, …

Forex Brokers Update — January 17th, 2021

January 17, 2021

Another week has passed without new brokers added to our website. Some of the listed brokers have been updated:

SimpleFX added more cryptocurrency pairs for trading: ADA/USD (Cardano), BNB/USD (Binance Coin), DOT/USD (Polkadot), YFI/USD (yearn.finance), EOS/USD, WAV/USD (Waves), XTZ/USD (Tezos), ZEC/USD (Zcash), NEO/USD.

Axiory

Weekly Forex Technical Analysis (Jan 18 — Jan 22, 2021)

January 16, 2021

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1871 1.1973 1.2025 1.2127 1.2178 1.2280 1.2332

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1961 1.2000 1.2114 1.2153

EUR/USD Decline as Market Sentiment Turns Sour

January 15, 2021

EUR/USD fell today to the new low of 2021. Market analysts explained the decline by the negative market sentiment. Today’s US macroeconomic data added to pessimism as plenty of reports were disappointing, missing expectations. The upside for the dollar was limited, though, after Federal Reserve Chairman Jerome Powell refused to discuss monetary stimulus …

EUR/USD Manages to Rebound to Opening Level on Thursday

January 14, 2021

EUR/USD declined today but started a rebound at 15:15 GMT and is currently trading at about the opening level. Thursday’s macroeconomic releases in the United States were mixed, with import prices rising beyond expectations but unemployment claims climbing unexpectedly.

Import and export prices rose in December. Import prices advanced …

EUR/USD Erases Tuesday’s Rally on Wednesday

January 13, 2021 (Last updated on January 14, 2021)

EUR/USD dropped today, reversing yesterday’s rally, which itself erased Monday’s decline. Market analysts explained today’s drop by rising US Treasury yields as well as hopes for fiscal stimulus and economic recovery in the United States. All of Wednesday’s macroeconomic reports released in the USA matched expectations but had little impact …

MetaTrader Historical Data Importing and Converting Tutorial for Quality Backtesting

January 13, 2021 84 Comments

Update 2021-01-13: This tutorial has been updated to provide accurate information regarding 90% vs 99.9% modelling quality and to present a simpler method of getting quality historical data in your MT4 platform.

Backtesting MetaTrader expert advisors on historical data is a good way to test a strategy. But testing on the default …

EUR/AUD Consolidates in a Bearish Flag Pattern

January 10, 2021 (Last updated on January 11, 2021)

Following a successful bearish pennant setup that had appeared on the daily timeframe of the EUR/AUD chart, the currency pair entered another consolidation that took the shape of a continuation bearish flag pattern. Now, a pronounced close below the lower border of the formation may signal a further weakness of the euro against the Australian dollar.…

Forex Brokers Update — January 10th, 2021

January 10, 2021

This week has ended without new additions to our list of Forex brokers, but some of the listed brokers have been updated:

GBE brokers added PayPal to deposit methods. The broker revamped its account type system, lowering the leverage to 1:30 and the minimum account size to $500. Both account types …

Weekly Forex Technical Analysis (Jan 11 — Jan 15, 2021)

January 9, 2021 2 Comments

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.2004 1.2099 1.2160 1.2255 1.2316 1.2411 1.2473

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.2090 1.2144 1.2247 1.2300

MetaTrader Historical Data Importing and Converting Tutorial for Quality Backtesting

January 13, 2021 84 Comments

Update 2021-01-13: This tutorial has been updated to provide accurate information regarding 90% vs 99.9% modelling quality and to present a simpler method of getting quality historical data in your MT4 platform.

Backtesting MetaTrader expert advisors on historical data is a good way to test a strategy. But testing on the default …

Right Side Histogram Display for Market Profile Indicator

December 7, 2020

Another feature update of the Market Profile indicator has been released today. There are three main big changes in the new version of the indicator:

Right-hand drawing of the market profile histogram is now available. To enable it, you have to set RightToLeft input to true. For all trading …

PSC Update — Stop-Limit Orders and Script Confirmation Window

November 18, 2020 5 Comments

With no updates in almost 6 months, it is time to announce the latest version of Position Size Calculator — 2.32. It includes 24 changes to this MetaTrader indicator. The most exciting upgrades are listed below for your information:

    Stop-limit orders are now supported in MetaTrader 5

MT4/MT5 Indicator to Plot TD Sequential Setup, Countdown, and Support/Resistance Levels

September 8, 2020 (Last updated on November 30, 2020) 2 Comments

If you ever wanted to trade using Tom DeMark’s TD Sequential methods on a MetaTrader broker but found the currently available indicators lacking, you will be delighted to get hold of my latest creation — TD Sequential Ultimate. It is a free open-source indicator available for MetaTrader 4 and MetaTrader …

Basic Scheduling EA for MetaTrader

August 11, 2020 1 Comment

Have you ever wanted to set up a schedule for your MetaTrader platform to turn off AutoTrading at a given day and time and then re-enable it at some other day and time? Me neither! But I am quite sure there are many people who need something like that. AutoTrading Scheduler

Control Panel for Price Alert Indicator in MT4/MT5

July 20, 2020

Price Alert indicator has got a complete overhaul today and is now equipped with a small but very functional panel. You can use it to set price levels, enable and disable alert types, and quickly remove the indicator. Push-notification alerts are now supported by the indicator. Additionally, input

Arbitrary Rectangle Sessions with Market Profile Indicator

July 14, 2020

Today a new version of Market Profile indicator for MetaTrader 4 and 5 has been released. There are three main additions to the indicator this time:

The biggest one is the rectangle sessions. They are enabled by setting the Session input parameter to Rectangle and adding any …

Divide Your Position into Multiple Trades with Several Take-Profit Levels with New Position Size Calculator

May 29, 2020 4 Comments

Another major release of Position Size Calculator is out today — version 2.29. Its biggest highlight is the possibility to create multiple trades based on a single calculated position size by launching the PSC-Trader script (which also got updated to version 1.08). The list of changes is available below:

    Divide

Account Protector Gets New Conditions, Actions, and Control

April 17, 2020

Our Account Protector is a powerful expert advisor, but not in the sense it is often understood by online Forex traders. It doesn’t trade for you by opening buy or sell positions automatically. Account Protector manages your trading account’s risk by enabling you to select a set of actions to trigger when …

Highly Customizable Indicator to Trade Round Numbers

March 18, 2020 4 Comments

Trading off round numbers is a rather popular technique in Forex and other financial markets. Although round price levels rarely hold any meaningful fundamental value, they provide solid psychological points of reference to human traders. This makes them quite effective when trading psychology-dominated markets. That …