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EUR/USD Rises, Extends Rally After Manufacturing & Construction Spending Data

December 2, 2019

EUR/USD rallied today despite poor manufacturing data in the eurozone. US manufacturing data was confusing, with the report from IHS Markit demonstrating an accelerating expansion of the sector, while the report from the Institute for Supply Management showed an accelerating contraction. Meanwhile, US construction spending fell unexpectedly. While some …

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, …

Forex Brokers Update — December 1st, 2019

December 1, 2019

The last week of November has ended without yielding any new companies for our list of brokers, but there were quite a few changes to the already listed ones:

AGEA changed the name of the company from Agea Jinrong DOO to AGEA International AD. Revamped the entire account type system.

ForexMart stopped …

Weekly Forex Technical Analysis (Dec 2 — Dec 6, 2019)

November 30, 2019

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0936 1.0958 1.0987 1.1009 1.1038 1.1060 1.1089

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0960 1.0990 1.1011 1.1041

EUR/USD Declines After Positive Revision of US GDP

November 27, 2019 (Last updated on November 28, 2019)

EUR/USD was falling today and accelerated its decline after US gross domestic product got an unexpected positive revision in the second estimate. Other reports released at the same time (13:30 GMT) also beat expectations. But while releases that followed afterward were all disappointing, that did not …

EUR/USD Moves Sideways amid Trade Uncertainty

November 26, 2019

EUR/USD was moving sideways during the past two days. While there was positive news about the US-China trade talks, lack of any concrete details made skeptics doubt the chances of reaching a deal before the end of the year. Uncertainty about the trade deal discourage traders from active participation in the market. …

Forex Brokers Update — November 24th, 2019

November 24, 2019

Another week has passed without new additions to the list of Forex brokers on our website. The changes to the listed brokers this week included:

Exness added Bitcoin and Tether (USDT) as possible deposit and withdrawal methods. Stopped working with Alipay, CashU, PasaPay, Moneta.ru, and Ukash.

Forex Optimum added QIWI and UnionPay …

Weekly Forex Technical Analysis (Nov 25 — Nov 29, 2019)

November 23, 2019

EUR/USD

Floor pivot points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
1.0907 1.0961 1.0989 1.1043 1.1072 1.1126 1.1154

Woodie’s pivot points

2nd Sup 1st Sup Pivot 1st Res 2nd Res
1.0954 1.0977 1.1037 1.1059

EUR/USD Retreats After Rally, Dragged Down by PMIs

November 22, 2019

EUR/USD attempted to rally today but failed to hold onto gains and is trading below the opening level now. IHS Markit released a bunch of PMI figures today. Indicators for the eurozone were mixed, while US data was good, beating expectations. Meanwhile, positive comments from Chinese and US officials …

EUR/USD Rises Intraday, Unable to Keep Gains

November 21, 2019

EUR/USD rose intraday but has retreated by now. The currency pair reversed its rally following the release of a better-than-expected manufacturing report. Another possible reason for the drop of the EUR/USD pair was renewed optimism for a US-China trade deal.

Philadelphia Fed manufacturing index climbed to 10.4 in November from 5.6 in October, …

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 2 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 …

PSC Now Supports ATR SL/TP and Reverse Risk Calculation

February 27, 2019

Apart from some bugfixes, the version 2.18 of Position Size Calculator contains three new features:

    ATR-based stop-loss and take-profit are now a thing. If you prefer to set your SL/TP by the multiples of the Average True Range indicator, you can now do so automatically with

Ignore or Append Saturday/Sunday Hours in Market Profile

December 24, 2018

The new version of Market Profile, which has been released just now, implements two new major changes and two minor ones.

The first major change is that you can now control how the indicator processes Saturday and Sunday candlesticks. Before the update, it would try …

PSC Gets Ready for Volumes with 8 Decimal Places in Crypto

November 6, 2018 2 Comments

With ampler layout and lots of bugs squashed, version 2.15 of Position Size Calculator together with version 1.06 of PSC-Trader have been released today. The main goal of this update was to fix as many errors and inconsistencies in calculation and display as possible. The second goal was to add some of the requested …

New Market Profile Indicator — Focus on Stability and Performance

May 28, 2018

Upon receiving quite a lot of feedback and suggestions on further improvement of the Market Profile indicator, I have finally managed to prepare the new version — 1.08. The latest build is now more robust than ever:

    Smart color calculation prevents “overflows”, making the color of the profile’s blocks change smoothly and gradually.

New Position Size Calculator: SL and TP Which Follow Entry Line and Are Set in Pips

May 18, 2018

The newest version (2.14) the Position Size Calculator indicator, which is released today, introduces a new way to set stop-loss and take-profit for your potential trade setups. You can set the new input parameters UseFixedSLDistance and UseFixedTPDistance to true to turn this new mode on:

The example …