Forex Scanners

Discussion in 'MetaTrader Scripts' started by HenryT, May 4, 2017.

  1. HenryT

    HenryT Newbie

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    Hello, I am interested in scanners for currency trading MT4 platform. If anybody could assist would be greatly appreciated! I saw a person using this scanners on youtube channel of warrior trading, and the person was using them quit well. As i understand the scanners are telling him following things (except of time and stock name et.):

    1. which stocks are overbought/oversold on RSI indicators
    2. candlestick patterns (consecutive bull/bear candles, (you can manually adjust on how many consequtive bull/bear candels scanner will alert))
    3. It also shows the volume of a stock, and as i understand volume is not applicable for currencies (please comment on this, and any ideas for substition?)
    4. one column also says "rel. volume" any ideas what is it?

    thank you in advance

    the scanners are shown in this video
     
  2. hayseed

    hayseed Master Trader

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    hey henry..... the easiest way is to recode the indicators to include alerts within themselves.... then have a expert or indicator cycle thru all pairs and time frames needed calling those indicators via 'icustom'.....

    once called, the alert will sound or print notifying you of every signal.....

    visual dashboard style scanners are slightly more code work.....

    historical whole market scanners, such as ones that plot the last 90 bars recorded signals for every pair, are considerably more complex but far more useful..... not only can you see every signal on every pair side by side but see how it made out over those 90 bars.....

    the video below explains how easy the first method is......

    rel. volume is relative volume..... has to do with volume and standard deviation.....h

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  3. hayseed

    hayseed Master Trader

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    hey henry..... that video was from a while back on somewhat a different subject but the same principle can be applied for your purpose..... below are some 'gee wiz' historical scanner type ea's that will cycle thru all the pairs on all tf's and show past signals ....... and print out, if needed, the end result profit/loss on any or all signals..... each dot will represent 1 bar....

    the importance , to me, is in seeing how the individual currencies, jpy,eur and such, usually move in sequence.... in addition is gives me a rough idea of how many bars those signals might last.....

    a little extra math and code will give the exact average length for every signal on every pair on every timeframe..... a little more still will give the maximum/minimum price excursion during the signals active life.... even more still, gives the average number of signals that can be expected per day,week,month or year..... that sort of list can go quite further.....

    the drilling down on signals is something i've spent years on..... the results still amaze me.....h

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