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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 …

EUR/USD Rises as Optimism Rules Markets on Monday

July 13, 2020

EUR/USD logged decent gains today, though currently, it has halted its rally. The positive market sentiment was eroding the appeal of the greenback as a safer currency. The start of the week is poor in terms of US macro releases but that will change in the second half of the week.

Treasury budget deficit widened …

Forex Brokers Update — July 12th, 2020

July 12, 2020

Three new Forex brokers have been added to our website this week:

SFEX — a generic offshore Forex broker registered in Saint Vincent and the Grenadines with some rather poorly written texts on their website. They offer MT4 accounts starting from $1,000.

Skilling — a Forex broker …

Weekly Forex Technical Analysis (Jul 13 — Jul 17, 2020)

July 11, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1105 1.1173 1.1235 1.1303 1.1365 1.1433 1.1495

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1171 1.1232 1.1301 1.1362

EUR/USD Attempts to Extend Rally, Fails

July 9, 2020

EUR/USD was attempting to extend yesterday’s rally at the start of today’s session but has failed and is now trading firmly below the opening level. Market analysts explained the dollar’s strength by the drop of US stocks which increased the safe-haven appeal of the greenback. As for US macroeconomic data, unemployment claims continued to fall, suggesting …

EUR/USD Rises During Session Light on Economic Data

July 8, 2020

EUR/USD rose today. As there few macroeconomic reports to drive the currency pair, market analysts explained the rally by the positive market sentiment. Indeed, US tech stocks climbed and commodity currencies firmed together with commodity prices, suggesting that markets were in risk-on mode.

US crude oil inventories increased …

Forex Brokers Update — July 5th, 2020

July 5, 2020

Without no new brokers becoming listed this week, we had the following updates to the already listed ones:

Synergy Markets (ex-Synergy FX) now supports PAMM and MAM facilities.

BDSwiss is now regulated by the FSA of Seychelles.

eToro now offers trading in more instruments to US residents thanks to its …

Weekly Forex Technical Analysis (Jul 6 — Jul 10, 2020)

July 4, 2020

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.1070 1.1127 1.1188 1.1245 1.1306 1.1363 1.1423

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.1128 1.1189 1.1246 1.1307

EUR/USD Fails to Rally, Accelerates Decline After NFP

July 2, 2020

EUR/USD was attempting to rally today but has failed and is currently trades below the opening level. The decline accelerated following the release of better-than-expected nonfarm payrolls. The employment report was moved to Thursday due to a holiday on Friday.

Nonfarm payrolls rose by 4,800k in June, exceeding the average forecast of 3,037k. The May value …

EUR/USD Rebounds After Earlier Drop

June 30, 2020 (Last updated on July 1, 2020)

EUR/USD fell intraday but has started to bounce at 12:00 GMT and is now trading close to the opening level. Market analysts speculated that the rebound was a result of the improving market sentiment caused, at least in part, by positive macroeconomic reports released in the United States today. In particular, consumer confidence was much …

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 2 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 2 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 …

Most Trending Currency Pairs in Forex + TrendStats Script

February 17, 2020 2 Comments

Quite some time has passed since I published my last post on the Forex pairs that trend the most. A lot of stuff has changed since then and because a lot of readers have asked me to post an update, I am finally doing it today. But not only that, I am …

New Indicator to Trade Price Action — Basing Candlesticks

December 2, 2019

Quite some time ago, one of our forum members asked for an indicator to detect basing candles in MetaTrader. Today I present a new free indicator both for MT4 and MT5 — Basing Candlesticks.

It is a minimalistic indicator that compares the body size of the candle against its high-low range and, …

Color Market Profile Based on Bullish/Bearish Bars

October 18, 2019

Our Market Profile indicator has received another major update today — version 1.13 implements the following changes:

Market Profile blocks (TPO’s) can now be colored according to whether the original bar is bullish or bearish in contrast to the bar being older or newer. This might be useful to quickly …

My sRs Trend Rider 2.0 Test and Review

July 23, 2019

Disclaimer: I have received a free copy of sRs Trend Rider 2.0 for review, but I am in no way affiliated with Vladimir Ribakov.

sRs Trend Rider 2.0 is a trading system, which includes a set of expert advisors and indicators as well as an explanatory ebook. The main purpose of sRs Trend Rider 2.0 …

Switch ATR Timeframes and Move SL/TP Lines Freely in New PSC

July 8, 2019 7 Comments

Version 2.22 of Position Size Calculator fixes two minor bugs and introduces three cool new features:

You can set the input parameter UseCommissionToSetTPDistance to true and then the Take-profit button will use the entered commission when calculating the TP line location:

If you leave …

[Poll] What Is the Best Way to Backtest?

March 4, 2019

If you want to be sure that your strategy can yield better results than you would attain by simply buying and selling randomly, you need to test it. There are two ways of doing it: backtesting (when you use past data to see how the strategy …