Around this time, coincidentally, I heard that someone was trying to find a software developer to automate a simple trading system. This was back in my college days when I was learning about concurrent programming in Java threads, semaphores, and all that junk. The client wanted algorithmic trading software built with MQL4 , a functional programming language used by the Meta Trader 4 platform for performing stock-related actions.
The role of the trading platform Meta Trader 4, in this case is to provide a connection to a Forex broker. The movement of the Current Price is called a tick. In other words, a tick is a change in the Bid or Ask price for a currency pair. During active markets, there may be numerous ticks per second.
During slow markets, there can be minutes without a tick. The tick is the heartbeat of a currency market robot. When you place an order through such a platform, you buy or sell a certain volume of a certain currency. You also set stop-loss and take-profit limits. The stop-loss limit is the maximum amount of pips price variations that you can afford to lose before giving up on a trade.
Many come built-in to Meta Trader 4. However, the indicators that my client was interested in came from a custom trading system. They wanted to trade every time two of these custom indicators intersected, and only at a certain angle. The start function is the heart of every MQL4 program since it is executed every time the market moves ergo, this function will execute once per tick. For example, you could be operating on the H1 one hour timeframe, yet the start function would execute many thousands of times per timeframe.
Once I built my algorithmic trading system, I wanted to know: 1 if it was behaving appropriately, and 2 if the Forex trading strategy it used was any good. In other words, you test your system using the past as a proxy for the present. MT4 comes with an acceptable tool for backtesting a Forex trading strategy nowadays, there are more professional tools that offer greater functionality.
To start, you setup your timeframes and run your program under a simulation; the tool will simulate each tick knowing that for each unit it should open at certain price, close at a certain price and, reach specified highs and lows. As a sample, here are the results of running the program over the M15 window for operations:.
This particular science is known as Parameter Optimization. I did some rough testing to try and infer the significance of the external parameters on the Return Ratio and came up with something like this:. You may think as I did that you should use the Parameter A. Specifically, note the unpredictability of Parameter A: for small error values, its return changes dramatically.
In other words, Parameter A is very likely to over-predict future results since any uncertainty, any shift at all will result in worse performance. But indeed, the future is uncertain! And so the return of Parameter A is also uncertain. The best choice, in fact, is to rely on unpredictability. Often, a parameter with a lower maximum return but superior predictability less fluctuation will be preferable to a parameter with high return but poor predictability.
In turn, you must acknowledge this unpredictability in your Forex predictions. This does not necessarily mean we should use Parameter B, because even the lower returns of Parameter A performs better than Parameter B; this is just to show you that Optimizing Parameters can result in tests that overstate likely future results, and such thinking is not obvious.
This is a subject that fascinates me. Back Tested and Real Time tested We'll add more systems in future, keep in touch Important Strategies given here are created by different traders and tested by us and many other traders.
We add them here after a period of back testing and real time testing. However, being profitable using these systems depend on few factors such as your trading experience, money management techniques you use, your trading sense and the way you control your emotions while trading. If you are a new trader, our advice is to practice a single strategy at least for two months in a demo account.
It takes some time and experience to get the trading "sense". Just because you're given a profitable strategy, you cannot be profitable in a night.
How to trade Best intraday trading strategy-Fx Dynamic Software.. Previous article Mt5 indicators free download. Next article Forex millionaires-Crystal Fx System. Mike Campbell I am a British scientist and freelance writer.
As a writer, I specialize in business, science, medicine, and environmental subjects. Related Articles. Indicators Best Forex signals indicator-Xard Grail. Comment: Please enter your comment! Stay Connected. Latest Articles. Load more. This ensures your EMAs stay near the most current price action. Note: If your length is larger than the number of bars in the day, your EMAs will not have time to properly catch up in the day.
I have tested with many pairs and at many timeframes and have profit with just minor changes in settings. I suggest to use it for intraday trading. If your Best to perform with Key levels, plotted automatically Additional timeframes can be added on request Useful for seeing strength of the trend in the market.
This script calculates and draws the initial balance price levels which can be really interesting for intraday activities. Note: Obviously, you need to wait for the calculation period to finish in order to see your daily levels The tool includes the following options Customization of the session used to calculate the initial balance default It does not show on the timeframe higher than the length of custom opening session by default.
So for eg. If rsi above 60 and macd is above zero line then go for buy and if rsi is below 40 and macd below zero line then go for sell side. This is an intraday indicator. Average Daily Range provides an upper and lower level around the daily open. It can be useful for helping guide support and resistance, for taking profits and for placing stops. It's a similar idea to the ATR indicator, but calculated I made this script to group information considered useful in forex day trading, of course it can be used on crypto or other markets.
This is not especially a final version and I'm sure other relevant information can be added in this tool. The VWAP is used in the alert system as well, to give some perspective on which direction we are looking to take. We only take trades when Triple SAR scalping method must be used with a 5 minute chart. Look for the patterns that 3 bands overlap.
Close deal within pip profit or build your own style after getting comfortable with this technique and share your approach with us for maybe higher profits. What in the world is up folks??!?? Here's the indicator of the day. Intraday Momentum Index indicator script. This indicator was originally developed by Tushar Chande.
I am using this 5Min intraday strategy with great success on the EurUsd and Gpb/Usd. Three deals max. per day. Open position when the angle of the 50 Simple. Simple Day Trading Forex System is a trend- momentum strategy for intraday trading very easy. Time Frame 30 min. Currency pairs: major. 5 Minute Intraday Trading System is based on smaangle indicator.