Platform: MetaTrader 4
Year: 2015
Manufacturer: ARGO lab
License type: Freeware / Donateware
Timeframe: any
ArgoGuardian Is a free auxiliary advisor, the main purpose of which is to control the open profit / drawdown on the account. When the desired profit or maximum allowable drawdown is reached, the advisor closes all orders or places a full lock (lock), deletes pending orders and stops, notifying the user with an e-mail message.
If desired, after stopping, the advisor can press the auto-trade button in the terminal so that other advisors can no longer open trades (mode AutotradeOFF = TRUE). Optionally, the advisor can close all the terminal charts except its own, so that other advisors do not get underfoot and do not try to open new orders while ArgoGuardian closes orders (mode CloseCharts = TRUE).
The Expert Advisor can also send an e-mail warning about the appearance of a dangerous drawdown on the account (the drawdown value is set by the variables MaxDD_Email, MaxDDPerCent_Email, MaxDDEquity_Email).
An important feature of ArgoGuardian is the flexible setting of orders, which it "grabs", ie. takes into account when calculating profit / drawdown and, accordingly, closes / locks. With default settings ( Symbols = All, Magic = -1), the EA takes into account all open orders on the account. If you set the mode Symbols = ThisSymbol, then the advisor will take into account orders only for the currency pair on the chart of which the advisor is attached. If you set the mode Symbols = MaxDDSymbol, then the EA takes into account orders only for the symbol with the maximum drawdown. Additional filtering can be done using the Magic variable. If the value Magic> = 0 is set, then the EA takes into account only orders with this magic. By combining these two filters, you can selectively track drawdowns for different instruments and for different Expert Advisors on the account.
It is possible to use two (or more) copies of ArgoGuardian with different settings on one account. For example, one copy of ArgoGuardian will track the maximum drawdown for one instrument (Symbols = MaxDDSymbol), and another copy will track the maximum drawdown on the entire account (Symbols = All).
The advantage of the advisor is also the flexible setting of the desired take profit and stop loss (= maximum allowable drawdown). You can specify take profit and stop loss in units of the deposit currency ( TProfit, MaxDD). Or you can - as a percentage of the deposit balance ( TProfitPerCent, MaxDDPerCent). Finally, you can explicitly enter the desired equity value at which the profit / loss will be fixed ( TProfitEquity, MaxDDEquity).
Settings:
Chapter Logic
Configures which symbols (currency pairs) and magic to take into account and how to fix profit / loss.
Symbols(All / ThisSymbol / MaxDDSymbol) - filter, orders for which symbols to consider. If Symbols = All, consider all symbols; if Symbols = ThisSymbol, consider orders only for the symbol on the chart of which the EA is attached; if Symbols = MaxDDSymbol, we consider orders only for the symbol with the maximum drawdown.
Magic- filter, orders with which magic to take into account. If< 0 (по умолчанию), учитываем все магики. Если >= 0, then we take into account only orders with this magic.
UseLock(TRUE / FALSE) - if FALSE, then profit / loss is taken by closing orders; if TRUE, then by exposing a lock (lock).
AutotradeOFF(TRUE / FALSE) - If TRUE, after fixing profit / loss, the auto trade key in the terminal will be released.
CloseCharts(TRUE / FALSE) - If TRUE, all charts for active symbols, except for the current one, will be closed before taking profit / loss.
Chapter Target profit
Sets the take profit, upon reaching which the profit will be fixed.
TProfit - take profit in units of the deposit currency, if 0 is disabled.
TProfitPerCent - take profit in% of the deposit, if 0 is disabled.
TProfitEquity - an explicit equity value, upon reaching which the profit will be fixed, if 0 is disabled.
SendEmailOnTP (TRUE / FALSE) - send an email notification when the take profit is fixed.
Chapter Stop Loss
Sets the stop loss value, upon reaching which the loss will be fixed.
MaxDD - maximum open drawdown in the deposit currency, if 0 is disabled.
MaxDDPerCent - maximum open drawdown in% of the deposit, if 0 is disabled.
MaxDDEquity is an explicit equity value, upon reaching which the loss will be fixed, if 0 is disabled.
SendEmailOnSL (TRUE / FALSE) - send an email notification when a loss is recorded.
Chapter Email notification
Sets the value of the open drawdown, at which a warning message will be sent to the email.
MaxDD_Email - the value of the open drawdown in the deposit currency, if 0 is disabled.
MaxDDPerCent_Email - the value of the open drawdown in% of the deposit, if 0 is disabled.
MaxDDEquity_Email - an explicit equity value, if 0 is disabled.
For these options to work, you need.
From time to time, every forex trader needs to study in detail his own trading results. Unfortunately, the standard MetaTrader4 functionality only allows you to build a generalized statement, the information of which is not enough for an objective assessment of the profit / loss received, so the programmers created a special Equity indicator.
First of all, let's figure out how this indicator is superior to a regular report, the document of which can be saved in several formats:
The Equity v.7 indicator in Meta Trader 4 is installed in a standard way, like many others, and you can download it here:
Despite the fact that this Expert Advisor is not intended for analyzing the current market situation, it is installed according to the standard scheme, i.e. first, it is copied to the corresponding directory of the terminal, after which it clings to the price chart.
Here I would like to note that it is better to immediately attach the Equity algorithm to the asset, the financial result of which will be of the greatest interest, since in this case it will take less time to set up.
So, the first function in the list of variables is called Only_Trade. If the value is set to “false”, the EA will display the dynamics of the balance “as is”, i.e. in addition to the result from transactions, it will show all the replenishment of the deposit and the facts of withdrawals.
The next variable "Only_Current" is designed to configure the Expert Advisor so that it shows profit / loss strictly for the asset on the chart of which it is set.
Above, I have already emphasized such nuances when I recommended attaching Equity v.7 to the asset for which the most transactions were concluded.
If there is an urgent need to study the results of trading with a certain asset in the window of another instrument (for example, the Equity indicator is set on the EURUSD pair, and we need to calculate the profits and losses received from oil operations), you will need to perform the following actions:
The following two functions (Only_Buys and Only_Sells) allow you to estimate profit and loss in terms of purchases and sales, in particular, the following combinations are possible here:
From the example presented above, it can be seen that the main income was received mainly from short positions (i.e. following a trend in time with price movement). Therefore, it is advisable to supplement the system with auxiliary tools that will increase the accuracy in assessing the trend.
The next function Show_Balance is designed to enable / disable the balance line. For example, if you set the value “false” next to this variable, the Equity indicator markup will look like this.
The Show_Margin and Show_Free variables do not work well, so trying to set them up is a waste of time. Initially, the variables mentioned were intended to display the margin and free funds.
And the last toggle function is called Show_Info. As you might guess, it is used to display an information board, which collects information about the values of the maximum and absolute drawdowns.
Besides, in the Equity algorithm settings you can set the drawdown level, after reaching which, the terminal will emit a sound signal.
For mid-term and long-term people, this function is unnecessary, since with such a style of work, the score changes smoothly and slowly (there is time to track the dynamics). For aggressive scalpers and algorithmic traders (trading with robots), this variable can be useful.
Thus, the Equity indicator not only shows the results of trades in a visual form, it also helps to identify the strengths and weaknesses of the system used.
This is an oscillator that shows the ability of bulls and bears in the Forex currency market to reach new maximum price values.
The indicator readings fluctuate between the extremum levels -1 and +1. For each individual period, they are calculated using the following formula: (Close - Open) / (High - Low). After calculation, the readings can be smoothed using any.
One of the most important properties of the Balance of Power indicator is the levels at which it forms tops and bottoms. During time, these peaks quite often approach the upper limit, but at the same time they never touch it. In a bear market, you can observe a mirror situation. If the indicator changes the trend, you need to pay attention to the direction of the price.
To the merits forex indicator Balance of Power can be attributed to a reliable determination of the presence of a trend and its strength, since the trend usually does not end the moment the indicator does not cross the zero line. Of the relative disadvantages, it can be noted that in any case, it is necessary to confirm the change in the trend on the price chart.
The modern forex currency market opens up a lot of prospects for traders, allowing them to earn a decent fortune. However, due to inexperience, newcomers who come to the market with big ambitions, enchantingly drain their deposits and move away from currency trading, loudly scolding forex and calling it a fraud. Many of them do not even use indicators in their trading practice that allow them to successfully analyze a currency pair and make an accurate forecast. We offer indicatorMitBalance, which, if used correctly, can significantly increase your deposit and bring profit in 9 out of 10 transactions. In this article, we will consider the indicator itself, as well as get acquainted with the rules of trading by its signals in practice.
Mit Balance was written for the MetaTraider 4 terminal used by many traders. In addition to the indicator in the .ex4 format, the archive contains two text files with information on its use.
The Mit Balance indicator analyzes the market, highlighting the levels to which the price tends during the trading interval. Additionally, he calculates the optimal levels for entering the market, using the principles of the Gann theory. The tool is perfect for both an intraday strategy (TF from M1) and for opening long orders on large timeframes (TF up to H4). The authors recommend using the H1 timeframe for trading.
By installing the indicator in the trading platform according to the standard procedure and applying it to the selected currency instrument, price movement levels are immediately formed (Fig. 1). In order not to risk and not open trades right away, it is recommended to get acquainted with the history of signals from the indicator (as a rule, they will also be displayed on the chart). Only after studying the principle of the indicator in detail, it will be possible to proceed to the subsequent profitable trading, based on a thorough analysis of the price.
The correctness of the generated signals will be achieved only when the correct values are set for the parameters (Fig. 2):
A trading instrument that takes into account all intraday price movements, as well as past growth and fall dynamics. In this case, the zones of local minimums and maximums are also taken into account and forecasts are formed on the basis of these data. At a certain period, when the most favorable conditions for entering the market arise, the indicator on the chart forms a channel, which is a signal to the trader to open a certain deal.
When opening short orders on low timeframes, it is extremely important to constantly monitor the price movement, since the channel can close very quickly, and the price can turn around and move in the opposite direction. Most often, such sharp fluctuations do not occur on large timeframes, as a result, the indicator is much better suited for the H1 and H4 timeframes. It is advisable to additionally use a tool that allows you to identify the trend.
Every trading day, at the time specified in the "Opening time of the daily candle" parameter, the indicator calculates the levels of balance and optimal entries to the market. The trader places pending orders of the Limit type at the optimal entry levels, and Take-Profit at the balance level. At the end of the day, all failed orders (the price did not reach them) are deleted. They also become irrelevant when the price reaches the balance level (taking take profit is allowed only once).
For inexperienced traders, such a tool will allow you to make good money, since the entire analysis will be performed by the indicator itself. You just need to carefully monitor the upcoming signal appearance.
But do not forget that not all signals work out perfectly, sometimes there are extraneous noises that can be eliminated using auxiliary indicators such as Elliott waves or Bollinger lines. Also, the indicator can be used in conjunction with moving averages. In this situation, the number of losing trades will be minimized.
On Balance Volume (OBV) indicator- a simple classic oscillator that displays price fluctuations based on changes in market volume over a certain period of time.
Principle cumulative volume, on the basis of which the instrument was built, was first presented in 1946, but it gained wide popularity only in 1963, after the publication of the book D. Granville « New strategy for the most profitable day trading in the stock market».
The impetus for the creation of the OBV indicator was the theory that a serious change in volume always precedes a strong price movement. The market does not have to react immediately.
For example, in situations where the largest players with certain information begin to invest in assets that most other participants are trying to get rid of.
That is, the volume has already significantly increased, but the vector of price movement for some time by inertia is directed downward. When critical mass builds up, the trend reverses sharply and becomes upward. Small and medium-sized investors naturally join in and make it even stronger. When big players decide to get rid of their assets in this way, a mirror situation arises.
The Balance Volume Indicator is included in the basic package of most popular platforms, including. To configure it, you need to set only three main parameters:
Calculate the indicator value yourself OBV is not required, however, for general development, let's see how this is done, especially since the formula is not too complicated. If the closing price is higher than that of the previous period, its volume is added to the indicator value. If the price is less than its predecessor, then the volume of the current bar is subtracted. In this case, the result will be negative. When prices are identical, a straight horizontal is displayed on the chart.
When calculating for the Forex market, tick volume indicators are used.
The main disadvantage here is that a trade is equal to one tick, regardless of its value. Roughly speaking, buying / selling for a million is equal to buying / selling for a dollar. Of course, such an equalization does not contribute to an objective assessment, but it must be taken for granted. That is why the indicator should be used only on daily, weekly and other long timeframes. There, the values of the volumes are balanced. It should be noted that when analyzing OBV, as a rule, special attention is not paid to numerical values. The trader is guided solely by the behavior of the curve.
The indicator can be used:
When each new high / low of the price chart coincides with the corresponding extremum of the indicator, it means that there is a stable up / down trend.
If the vector is directed upward, you can open a buy deal, if downward, you can open a sell order.
Naturally, trend confirmation is not a signal for a trade, but just useful information for thought. In a flat state, the indicator does not go beyond the boundaries of a certain horizontal corridor for a long time and does not form successive peaks / troughs. During this period, there are no strong market trends.
In cases where the OBV curve does not keep up with the price movement, there is a "lack of confirmation" or divergence.
It is seen either at the top of a bull market or at the bottom of a bear market. In the first case, the chart reacts to the next rise in price with a slight decline. If the situation repeats at the next high, then the price movement is inertial and a reversal or correction will soon occur. This is a sign that you need to look for a moment to open. positions for sale.
If the price and the curve OBV synchronously update minimum after minimum, but at some point the latter starts to grow a little, it is formed bullish divergence... This is the optimal time to open a buy trade. The downward movement continues by inertia, and soon the price will start to rise. Open positions are closed immediately after confirmation of the vector change by other means of technical analysis.
Divergence is the only truly significant independent signal of On Balance Volume, so you should treat it with due attention.
Often, indicator users draw levels on the chart overbought / oversold... A crossing of any of these lines could mean an imminent trend reversal. If the upper level is broken from below, a sell position is opened. If the lower border is crossed from above, a buy trade is formed. At the same time, there is always a risk that the trend will be too powerful and the price will continue to move in the same direction.
Indicator OBV not recommended for short periods. Even on hourly timeframes, strong distortions appear, depriving the work of special practical sense. We have already discussed the reason for their occurrence above - there is a high probability of a serious discrepancy in the indicators of "money" and "tick" volumes.
OBV is rarely used as a standalone analysis tool.
It is usually used as a confirming indicator to determine the trend vector. The ideas on which the tool is based have been applied for a long time in many other, more complex and effective programs. These include, for example, Cash Flow Indices and, and others.
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