Virtual Trailing Stop

Virtual Trailing Stop is an Expert Advisor that manages trailing stop without sending its information to the broker server.

Input Parameters

  • EnableVirtualTrailingStop: enable or disable whole function
  • VirtualTrailingStop: the pip use for determine how far the Virtual ‌Trailing Stop will placed calculated from current price
  • StartFromBreakEven: true/false. If true, Virtual Trailing Stop will placed after breakeven
  • BreakEvenPoint: point profit from order open price where the Virtual Trailing Stop will started to work
  • VirtualLine: color setting for the Virtual Line
  • VirtualLabel: color setting for the Virtual Label
  • VirtualFont: font setting for the Virtual Font
  • VirtualFontSize: font size setting for the Virtual Font Size

Virtual Trailing Stop 1

Fig. 1: Virtual Trailing Stop on action

Virtual Trailing Stop 2

Fig. 2: Virtual Trailing Stop input parameters (1)

Virtual Trailing Stop 3

Fig. 3: Virtual Trailing Stop input parameters (2)

Link

How to download historical data of MetaTrader 4

How to download historical data of MetaTrader 4 is the subject of this blog post I posted today. Why do I select this subject? Let me tell you slowly.

Today, few hours ago, one of my friend (he isn’t actually a pretty near friend, you know) was asked me why he can’t back test his expert advisor on MetaTrader 4 for a specific date an time? I was told him that his history data wasn’t successfully downloaded from the server so with a poor history data, a missing date and time is nearly always happened all the time during back testing. Available solution is only re-download the history data from the broker server and then with a fresh historical data a new back testing could be executed.

Then I told my friend to re-download the historical data then start a back testing again. For a geek on the industry re-download historical data is a simple task; however when it’s come to a newcomer it’ll become a very hard issue. A light is needed for resolve the situation and this blog post was created for it. So? It’s now the time we discuss the needed light.

1. First step: setting up the maximum bars on the history

This step is important for make sure that we have enough space for save the downloaded historical data later. Open MetaTrader -> Tools -> Options -> Chart -> Max bars in history. change the number of maximum bar into whatever value you think you’ll need it, but commonly is set to 9999999999 or 2147483647 mean we’ll download all historical data available on the server.


Fig. 1: Max bars in history

2. Second step: setting up the maximum bars on the chart

Then, set the maximum bars on the chart by change the number on the column “Max bars in chart” into 9999999999 on the same location with above explained “Max bars in history”.

Max bars in chart
Fig. 2: Max bars in chart

3. Third step: restart the MetaTrader 4

Restart MetaTrader 4 application to make above change take effect.

4. Fourth step: download historical data through MetaTrader 4 client terminal

Open Tools -> History Center then double click your symbol. Double click timeframe 1 Minute (M1) for easier use later.


Fig. 3: Select desired symbol of currency pair you’d like to download
Then, click download button on the bottom of the window then wait ’till download process is done.

5. Final step: data use

On above explanation I was let you know that we should download data with timeframe 1 Minute (M1). Why? Because of data 1 Minutes timeframe is the most flexible one compared with other timeframe data. If we’ve data of 1 Minute timeframe that’s the lowest timeframe, we could convert it to the higher timeframe if we need it using “Period Converter” script. This thing remove the need of multiple download for same symbol of currency pair but different timeframe. If we only will use 1 Minute data so you we don’t need to do anything but then start to doing a backtesting as usual with new fresh downloaded historical data.

simple-trailing-stop-1

Simple Trailing Stop

Simple Trailing Stop is a simple Expert Adviser designed to manage a very tight trailing stop but still visible by broker. “Very tight trailing stop” still can’t lower then brokerage minimum stop level so this tool will adjust by auto the trailing stop pips value greater than minimum stoplevel set by broker. Seems useless but this tool can reduce your time to think and place manual trailing stop provided by MT4 platform and probably have better result than standard trailing stop because can work at all orders that opened in current chart symbol in a time with tightest trailingstop ever. This will be help for most scalper to collect small pips profit while opening big lot is a must.

Parameters

  • Start Trail Pips—On how many pips Stop Loss will be start to trailed.
  • Trail Stop Pips—How many pips Stop Loss will be placed after Start Trail Pips reached.

simple-trailing-stop-1

Fig. : Input parameter of Simple Trailing Stop

Link

 

Auto SLTP Placer MT5

Auto SLTP Placer MT5 help scalper placing his manual orders faster so he can repeat his orders without worrying make a mistake when calculate their Stop Loss/Take Profit.

Example:

  1. The price has a strong movement and breaks the upper Fractals at M5 chart.
  2. You want to open a long position to get small pips profits (scalping).
  3. On this stage you will you will feel confused to put your SL/TP while prices continue to soar up and you do not want to lose this opportunity but you need to prepare your values of SL/TP. In this case a trader usually place his trade without SL/TP;
  4. After certain profit you will close your position manually but the price is bouncing back and drops down so your position becomes negative before your SL/TP are successfully placed; this could be a disaster for your account if you have no good trading physiology and cut your losses.
  5. You place your SL/TP manually after your order is placed but at volatile market it will be hard as the price is moving away and you are late to execute your SL/TP. So you need to close your trade manually and this could make you feel so tired after closing several positions.

That is common issue that happens with almost all scalping trades around the world but using this Expert Advisor will make you happier as it will place your pre-calculated SL/TP automatically right after you place your scalping orders. Thus you can do scalp as many as possible without worrying how to place its SL/TP at very volatile market.

Video

Link

Copy Trade / Signal Service by MQL Monster

Hello fellow trader! Trade copy became very familiar lately. Many traders around the world use this new system to gaining more profits on their trading account without the need of learning how to trade by manual nor purchasing an expensive expert advisor that could be risky, especially there isn’t a guarantee that the future performance of a robot trading / expert advisor will equal with their past performance mostly their performance on the strategy tester. A trade copy service could very famous among others because they have a very good track record. They could be generate their signal by their manual trading or automated one. How to determine a trade copy service is using manual trading or automated one? It isn’t a complicated task as on your mind because they usually provide a simple description of their trading system so the potential subscriber could understand the kind of their trading strategy before subscribe for.

As trade copy is being popular now, MQL Monster also doing some research to create a trade copy service that gives their subscriber a reliable trading signal to copy for. However, this isn’t a simple task but need a hard work before launched to the public. MQL Monster try to present up of two trading signal as two separated trade copy service through MQL5.com signal service. This big step is very important for their existence on the industry because of if it’s succeeded, it will increase up their name on their potential signal subscribers or other potential clients views. A good and strong name on the industry somewhat is very important for their existence.

Following are MQL Monster copy trade widget that could be followed before subscribe on that talked on by me. Please note, a subscription to the copy trade signal service of MQL Monster isn’t a requirement for fellow traders or fellow readers but only for a reference or alternative for other copy trade service providers.


Widget 1: a correlation & soft martingale based copy trade / signal service


Widget 2: a rebate oriented copy trade / signal service.

If you aren’t sure how to subscribe up to these services, please read this article. That’s all the content of this blog post, for the mistaken I ask for your apologize and thank you for.

Auto SLTP Placer MT4

Help scalper placing his manual orders faster so he can repeat his orders without worrying make a mistake when calculate their Stop Loss/Take Profit.

Example:

  1. The price has a strong movement and breaks the upper Fractals at M5 chart.
  2. You want to open a long position to get small pips profits (scalping).
  3. On this stage you’ll feel confused to put your SL/TP while prices continue to soar up and you don’t want to lose this opportunity but you need to prepare your values of SL/TP. In this case a trader usually place his trade without SL/TP;
  4. After certain profit you’ll close your position manually but the price is bouncing back and drops down so your position becomes negative before your SL/TP are successfully placed; this could be a disaster for your account if you have no good trading physiology and cut your losses.
  5. You place your SL/TP manually after your order is placed but at volatile market it will be hard as the price is moving away and you are late to execute your SL/TP. So you need to close your trade manually and this could make you feel so tired after closing several positions.

That’s common issue that happens with almost all scalping trades around the world but using this Expert Advisor will make you happier as it will place your pre-calculated SL/TP automatically right after you place your scalping orders. Thus you can do scalp as many as possible without worrying how to place its SL/TP on very volatile market.

Link

How to download MetaTrader 5

Hello loyal blog visitors, this time I’ll share my knowledge on how to download terminal client MetaTrader 5 (mt5). Although it seems simple, downloading mt5 can be one problem that can’t be underestimated if it’s done by someone who has never done it, especially if the person doesn’t yet have a trading account on a particular broker. If you belong to that group but still want to download and install mt5 on your computer, then don’t panic because this blog post will tell you how to download mt5 with easy.
 

 Fig. MetaTrader 5 client terminal

Before downloading mt5, we need to know that there are two ways to do this:

1. Download it in the member area website forex broker
2. Download it on the site owned by MetaQuotes that is at MQL5.comThe first way is an easy and recommended way but usually requires us to open a trading account first with the forex broker concerned first before we can access its member area and download the mt5. If you don’t already have a trading account, one of the brokers who provide many facilities for the trader is Just Forex. Among the spreads ranging from 0 pip. If you would like to open a trading account on Just Forex, please follow the following link: https://justforex.com/accounts/new?ref=46377.

While the second way is an easier way that is by downloading from the website owned MetaQuotes from the following link: https://download.mql5.com/cdn/web/metaquotes.software.corp/mt5/mt5setup.exe?utm_campaign=WebInstaller.

So how to download mt5 that I can share on my post this time, if there is a typo I apologize and hopefully its contents useful for us all.

Using EA

Automated Trading using EA is a famous way to save our trading time because we don’t need long wait for the entry signal because it will be done automatically. However some people don’t know how to use it. On my post this time, I’ll share how to use EA so it can work properly. If you include people who have often used EA on trading, this post isn’t a decent thing for you to read. But for newcomers, this post will be a bit more to help their activities on entering the world of automated trading.
Before we use EA for trading, make sure we have our EA file in the C: \ Program Files (x86) \ MetaTrader \ MQL4 \ Experts folder. The file in question is at least the file with the extension .ex4 (eg: my-ea.ex4) although it can also be a mq4-based file, but this isn’t mandatory.
 
Fig. 1: EA’s file is on the Experts folder.
Then, make sure its EA name appears on the MetaTrader 4 navigator we use.
Fig. 2: EA appeared on the navigator.
If it doesn’t appear, refresh the navigator by right click and click “refresh” it will appear our EA. If it still doesn’t appear, that means our EA is invalid or we forgotten to paste it into Experts folder as I mentioned above. Please check once more to make sure.
Then make sure automated trading is allowed by checking the icon color on the MetaTrader 4 green toolbar; If he is red, please click first the icon will be green and fresh.
Fig. 3: Check the Automated Trading icon on the toolbar.
Then, open the chart of the symbol and timeframe we want to run our EA. If it’s open then don’t open it.
Once everything is ready, it’s time we installed our EA on the chart that we have prepared before. Here are some ways to do this:
  • Double click EA, fill the parameter input in open window then click “Okay”
  • Right click EA, then click “Attach to a chart”, fill the input parameters in the open window then click “Okay”
  • Drag and drop EA to the desired chart, fill the parameter input in the open window then click “Okay”
So how to use the EA I share, hopefully useful.
metaeditor

What’s MetaEditor?

Hello fellow reader! On this blog post I’d like to share my knowledge on MetaEditor got from many resources that I ever read on. I don’t want to waste your time read my useless words so let’s go to the topic!

MetaEditor is a convenient multifunctional development environment integrated into the trading terminal. MetaEditor is intended for the development of programs in MetaQuotes Language 4 and 5 (MQL4 and MQL5) such as Expert Advisors, custom indicators and scripts, which can be used in the client terminal for analytical and trading purposes. (MetaEditor – User Guide)

metaeditor

Fig. 1: MetaEditor without any file opened

MetaEditor could be accessed by several ways as follow:

  • Click up the icon of MetaEditor on the MetaTrader toolbar
  • Click up MetaTrader menu “Tools” then click up “MetaQuotes Language Editor”
  • Press F4 on the keyboard

MetaEditor is a convenient tool for creating MetaTrader 4 and MetaTrader 5 application; mean rather than using another editor tool MetaEditor is more flexible and it’s an easy-to-use tool.

MetaEditor also the best editor tool for editing any MQL file (MQL4 and MQL5 file) and also doesn’t need to many resources to run on our computer.

MetaEditor is also allowing us to auto-generate its application by using the “MQL4 Wizard or MQL5 Wizard” feature.

metaeditor-1

Fig. 2: MetaEditor with a new file opened and ready to edit or to make new MetaTrader application

On the User Guide of the MetaEditor, MetaQuotes said that the main features of MetaEditor are as follow:

  • convenient editing of the source code of MQL4 and MQL5 programs;
  • automatic generation of projects from templates using “MQL4/MQL5 Wizard”;
  • enhanced resources for smart code management: highlighting of syntax, auto substitution, switch to definitions, etc.;
  • built-in resources for the program compilation;
  • convenient program debugging resources;
  • built-in code profiler;
  •  integrated personal storage of source code MQL5 Storage;
  • joint development of applications using projects;
  •  built-in help of MQL4 and MQL5 languages.

That’s all I know on this topic of “What’s MetaEditor?”, I hope it’s quite good for you to read on, and thank you for visiting my blog.

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