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GBP/NZD Consolidates in a Symmetrical Triangle After a Fall

August 20, 2017

The pound had experienced a rather strong rally against the New Zealand dollar from the beginning of 2017 through the middle of May. It then entered a similarly rapid downtrend, which stalled near the end of June. Since then, the currency pair entered a consolidation phase, which has now took a form of a symmetrical …

Forex Brokers Update — August 20th, 2017

August 20, 2017

One new broker has been added to the list of FX companies on our website this week:

Global Prime — a regulated Australian broker with MT4 platform and $500 minimum account size. It offers very low fixed spreads but charges commission for trading. The maximum leverage is 1:200.…

Weekly Forex Technical Analysis (Aug 21 — Aug 25)

August 19, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1491 1.1576 1.1667 1.1753 1.1843 1.1929 1.2019

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1578 1.1670 1.1754 1.1846

EUR/USD Declines Through the Day, Recovers After US Fundamentals

August 17, 2017

The euro was in a downtrend versus the US dollar for the first half of the trading session today. It stalled after the New York session opening and entered a recovery uptrend as the US industrial production report disappointed the USD bulls.

Initial jobless claims fell from 244k to 232k during the week ending August

EUR/USD Falls Before US Data, Soars on FOMC Minutes

August 16, 2017

EUR/USD had fallen today even before any meaningful economic data was released anywhere in Europe or the United States. It continued to fall even as the US reports came out without any good surprises for the dollar bulls. However, the currency pair rallied later following the release of the July FOMC meeting …

EUR/USD Recovers Despite Good US Data

August 15, 2017

After having fallen upon the release of the first batch of the US macroeconomic indicators, EUR/USD was rather quick to recover despite the lack of some meaning fundamental drivers. The currency pair then stalled not too far from the daily open level.

US export and import prices rose by 0.4% and 0.1% respectively …

Do You Have Your Family’s and Friends’ Support in Forex Trading?

August 14, 2017

Although the popularity of the retail Forex trading is growing rapidly, a lot of people do not know what it actually is, and of those who do, many have wrong ideas about the industry. This creates a lot of misunderstanding between traders and their friends and family.

The issue with getting the approval …

Forex Brokers Update — August 12th, 2017

August 12, 2017

Two new brokers have been added to the list on EarnForex.com these last two weeks:

TradeCMX — an offshore Forex broker operating online since 2016. It offers MT4 accounts starting from $50, but high-tier account types for big traders are also available. The broker offers trading …

Weekly Forex Technical Analysis (Aug 14 — Aug 18)

August 12, 2017

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1564 1.1626 1.1723 1.1785 1.1881 1.1943 1.2039

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1635 1.1740 1.1793 1.1898

Poor US Fundamentals Drive USD Down, Lower Deficit Does Not Help

August 10, 2017

The trading was mostly negative for the greenback today. EUR/USD rally continued after worse-than-expected macroeconomic reports have been released in the United States during the most active part of the trading session. Budget deficit data released later during the day did not affect the currency pair much.

Initial jobless claims

Spread Display and Take-Profit Multiplier in Position Size Calculator

July 24, 2017

It is time to roll out a new version of the Position Size Calculator indicator. Although the new release does not implement any breakthrough changes it introduces some useful features and fixes one annoying bug.

Take-profit button multiplier (set via input parameter) can be …

Free Order Management EA with a Graphic Control Panel

February 6, 2017

I remember myself during my early Forex years, sitting on a bunch of positions across five or six currency pairs and thinking — how do I make them all close at once when their total profit reaches my target? Now, I have developed a tool that does exactly that. I am pleased to announce the launch …

PSC Panel Scaling for High-DPI Displays

December 21, 2016

MetaQuotes has spurred my development process, forcing me to release the next version of the Position Size Calculator indicator much faster than I had intended to. Their latest changes to both MT4 and MT5 platforms prevented compilation of the PSC source code due to new way the string variables must be …

New: See Swaps Info, Control Trading Script via PSC Panel

November 11, 2016 1 Comment

It is time to release another version of Position Size Calculator indicator. It has some important bugs fixed and also adds new exciting features, including two new tabs. The complete list of changes is provided below.

    The Balance button on the Main tab now has a third

Major Fixing of Position Size Calculator + Symbol Leverage Display

September 20, 2016 2 Comments

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 (Last updated on February 5, 2017) 7 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 (Last updated on January 29, 2017) 4 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 1 Comment

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 December 21, 2016) 55 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 …