Market Condition Evaluation based on standard indicators in Metatrader 5 - page 2
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The other setup is maksigen:
people (who are trading pure price action and support/resistance/trendlines) will like this setup.
by the way, we can trade it too. I mean: every setup here can be used for trading, not for technical analysis only.
May be - I will open separated thread for every setup with the explanation how to trade and with trading results uploaded?
Yes, it depends on how many of them ....
And I have some idea to create separated thread about 'Trading witghout indicators' with trading. examples and so on.
Maksigen indicator will help a ,lot (because it is just support/resistance/trend lines which everybody can darw manually for example.
By the way - this Maksigen indicator was converted to MT5 by Igorad, and I will make entry to codebase so we all may use it.
:)
By the way - Metatrader5 with no-hedge possibility is fully related to my trading style.
It looks like "martingale" with no-hedge possibility with fix lot size.
And I have some idea to create separated thread about 'Trading witghout indicators' with trading. examples and so on.
Maksigen indicator will help a ,lot (because it is just support/resistance/trend lines which everybody can darw manually for example.
By the way - this Maksigen indicator was converted to MT5 by Igorad, and I will make entry to codebase so we all may use it.
This Maksigen indicator was already converted/improved to MT5 by Igorad (I used project Job).
For now - I am making entry to CodeBase with this indicator so it will be available for everybody soon.
I think - I will open separated thread for Maksigen indicator related to support/resistance/trendline trading
Besides, I need to explain something more - how to use oscillator (RSI for example, or any others) in trendfollowing way, overbough/overlold way, and in breakout way.
Because I am placing the images hoping that everything is understandable just from the image only :) but I feeel that I need to provide more explanation.
... how to use oscillator (RSI for example, or any others) in trendfollowing way, overbough/overlold way, and in breakout way.
Just back to this post with 3 Stoch MaFibo system/setup.
1. Trend following
1.1. Primary trend
Uptrend (bullish):
Downtrend (bearish):
So, concerning trend following way -
uptrend if
- signal line (dotted line) is below main line
&&
- both lines are growing
&&
- both lines are above level 50
&& is and in mql5 programming language (read more here) :)
============
downtrend:
- signal line (dotted line) is above main line
&&
- both lines are falling
&&
- both lines are below level 50
============
Why level 50? No idea. It may be any level but 50 is usually used for that.
Example - if you ask the coder to program EA for you telling him that "the signal is filtering by stochastics indicator" so the coder will use trend following way of fintering with the level 50.