Tag: mt4

MT4 EA Course: ATR Stops And Position Sizing

sfl 4 Comments
7 min read

This article is part of a series. Here are the other parts:

 

Welcome to the fifth part of our MetaTrader4 Expert Advisor course! If you haven’t done so, please have a look at the previous instalments.

Forex Wall-E

 

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We’ve been doing pretty well with our expert advisor. We created a fully functioning EA that can make buy and sell orders, and also can trail our stops. However, up until now, we’ve always used a fixed stop loss of 50 pips.

 

That might often be ok but what if you want a dynamic stop loss? In order to better reflect the market dynamics, we could use a volatility indicator such as ATR (Average True Range) to determine our stop-loss.

 

When we use dynamic stop loss distances, we still want to keep our risk per trade the same. We do this using dynamic position sizing. In other words, we will change the lot size per trade to reflect our desire to use a 1% stop loss. Let’s see how we can add this to our Wall-E expert advisor!

 

 

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How To Use Custom Timeframes in MetaTrader

sfl 1 Comment
4 min read

As a swing trader, I’m traditionally trading setups on timeframes like 1H, 4H and daily. In the past couple of months, however, I’ve changed my approach a little and will often trade other time frames such as 2H or 8H too. My Trade Advisor members have seen and used these custom timeframe setups to their advantage many times.

 

The reason is that sometimes, a setup is just too granular to be traded on the 1H charts but too coarse to be traded on the 4H charts. The same goes for the 4H and daily timeframes: sometimes, a setup just looks the best on the 8H charts.

 

8h charts

The trend on the 8H chart (left) looks much nicer
and respects the moving average better than the 4H chart (right).

 

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MT4 EA Course: Buy And Sell

sfl 4 Comments
6 min read

This article is part of a series. Here are the other parts:

 

Welcome to the fourth part of our MetaTrader4 Expert Advisor course! If you haven’t done so, please have a look at first three instalments.

Forex Wall-E

 

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Up until now, we’ve just been working with buy orders. But we’re traders, not investors! So rather than a buy-only system, it would be nice if our expert advisor could also short the market. In other words, we want to support going both long and short; buy and sell. We’re still working on our Forex Wall-E expert advisor, so let’s continue where we left off!

 

 

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Expert advisor trailing stops code

MT4 EA Course: Trailing Stops

sfl 10 Comments
8 min read

This article is part of a series. Here are the other parts:

 

Welcome to the third part of our MetaTrader4 Expert Advisor course! If you haven’t done so, please have a look at first two instalments.

 

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Forex Wall-E

In this part, I want to discuss stops. We’ve seen how to create an order with a simple pip-based stop in the previous article. What I want to look at this time, is how to implement dynamic, trailing stops. We’re still working on our Forex Wall-E expert advisor, so let’s continue where we left off!

 

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Metatrader price alerts email

Email price alerts in Metatrader 4

sfl 2 Comments
3 min read

Don’t you hate it when you step away from the charts and just at that moment, price makes a big move?

 

You just missed your window of opportunity to enter.

 

This used to happen to me all the time, as if the charts knew I was doing something else. The charts were right.

Metatrader price alert

 

 

I was being frustrated over that missed entry.

 

 

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Forex MT4 MetaEditor

MT4 EA Course: our first forex expert advisor

sfl 4 Comments
9 min read

This article is part of a series. Here are the other parts:

 

Welcome to the second part of our MetaTrader4 Expert Advisor course! Missed the first part? Go read the MT4 EA course Intro now, I’ll wait!

 

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In this part, we’re going to learn how to use the MetaEditor – the Integrated Development Environment or IDE for MetaTrader4 – to develop those exceptional expert advisors! I’ll show you around the editor and we’re even going to create our first expert advisor. Let’s call that EA the Forex Wall-E.

Get it? Robots, automated programs. Ah, moooving on!

Forex Wall-E

 

After this article, you will feel comfortable with the MetaEditor and know how to create a new expert advisor. That’s almost halfway to raking in those pips with our automated strategy!

 

These are your first steps into a new world – with a huge potential pay-off.

Ready?

Let’s do this.

 

 

“Invest in yourself. Your career is the engine of your wealth.”

– Paul Clitheroe

 

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Forex Metatrader 4 EA editor

MT4 Expert Advisor Forex Course Intro

sfl 8 Comments
4 min read

This article is part of a series. Here are the other parts:

The best MetaTrader 4 (MT4) expert advisor development course you’ll find on the web!

Here’s why: my MT4 expert advisor course will teach you how to transform your trading plan into a fully automated algorithmic trading system. What sets this course apart from others is its practical approach: I will provide you with real-life examples (including code!) on how to tackle actual scenarios. You will learn how automating your trades can help you lift your trading into profitability!
Backtesting a MT4 expert advisor

What this course covers

  • What is automated or algorithmic trading and why should I use it?
  • How to use the MetaEditor and Expert Advisors
  • Create your own Expert Advisor (EA)
  • Backtest your EA to validate your idea
  • Practical implementations for common scenarios, such as trailing stops, crossovers, dynamic position sizing, working with custom indicators and much more!

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Getting started with Forex trading

sfl 4 Comments
2 min read

If you’re reading this, it’s safe to assume you have an interest in forex trading. Maybe you’ve heard about forex from that friend working in finance or maybe you have an interest in currency markets yourself. One thing is clear: you want to know more about it! But where do you start? There are so many brokers, types of trading software, trading accounts, …

It’s easy to lose track of everything when you’re just starting out, so I’d like to show you some good starting points to get you going quickly.

Forex brokers

Choosing a broker can seem daunting. To help you out, I’ve written an article that shows what to look for when choosing a broker. I’ve been using FxPro as my forex broker and I’m very happy with them. If you’re looking for a reliable broker, they come highly recommended.

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