Using an indicator to set chart background colour
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- Опубліковано 10 лип 2023
- This is from a request by a subscriber to know how to swithc the chrt background depending on conditions of the indicator.
I used the supplied example MACD indicator here to change background as the MACD line crosses zero but you can easily apply the technique to any conditions of your indicator.
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#metatrader #indicator - Розваги
Sir orchard thank you for sharing your knowledge. Long live sir!
You are very welcome
Absolutely fantastic Sir. Thanks a lot.
Most welcome!
Thanks a lot for another informative video. I have a question related to another problem I am facing in MT4. The problem is when I try to open an EA using Data Folder/Experts and then double click to open any EA then I don't know in which MT4 editor that EA has opened. But for sure, the opened MT4 editor is not associated with that particular MT4 Terminal I am using at that point of time. I have several MT4 accounts and the same problem is faced no matter which particular MT4 Account Terminal do I open. Please help & make me understand how to resolve this issue so that any EA opens in the same Editor which is directly associated with same MT4 Terminal where EA has been kept.
It's probably going back to the first mt you installed and using the default folder in appdata. I avoid opening mt files form explorer just for that reason.
@@OrchardForex Thanks for your quick revert. Best Regards.
Another request... is there anyway to program MT4 to show Profit/Loss of current trade as percentage of balance?
Pay me $ 10. I will do it for you.
@@thembelssengwayo6896 you can't code!!
You can't change the terminal display window but you could just show some text on the chart with the % of balance. But how do you identify the current trade?
@@jafxtradinginstitute6395 ......Trust me I can code MQL4 and MQL5. This request is so easy to code that is why I think it is worth just $10 or should I increase it to $100.....
@@OrchardForex if you can think of anyway forward I'd appreciate it. As you say, doesn't need to be in the main dialogue - in fact might be better if it's not
Great video again ! I binge watch your videos lately and I really like how structured your videos and thoughts are .
Video idea : How to set a virtual stop loss / take profit (instead of a hard stop loss)
I've been struggling trying to code it for my own EA, and I can't find any tutorial on UA-cam or even MQL5 forum... So on video on that topic would be very much appreciated!
Thank you for all you're sharing, it's very helpfull
I do that in some videos but mostly because it can be easier but what other reason would there be to do that.
@@OrchardForex There are mainly 2 reasons to do that :
1) To hide your SL to market makers and prevent stop hunting in case they do price manipulations. That I know there is no way to verify if they do manipualte price to hunt SL or not so for secuity purpose.
2) It allows you to execute at bid price instead of the ask price and do everything based on the bid price :
- For Buy positions SL, a virtual SL can be triggered by the bid price instead of the ask price for hard SL. It avoids that your SL get triggered in case of a spread spikes and preserves your position.
- For Buy Limit Orders, if it is a virtual pending order it can also be triggered at the bid price instead of the ask price.
It is very helpful for semi-auto trading/Trade panels because when you execute everything at bid price, you can trade based on what you see and don't have to care about the invisible ask line (of course a good spread filter is a must have).
In what videos did you used virutal stop loss? I will have a look!
I would be glad to hear your opinion on my take as you have so much more experience than me.
It's always a pleasure to watch your videos.
Why not code a divergence indicator. That actually have high accuracy?
I'm just not a divergence trader.
@@OrchardForex why no one can't code divergence Indicator?
@@OrchardForex I see on your website you did a review for a MACD + Stochastic +RSI EA that system will never be profitable on a live account base on the rules .
You will be always buying high and selling low with that strategy.
The MACD must show trend along with RSI . While stochastic indicator use for entries .
Macd +RSI cross above their average price level
While stochastic pullback into oversold for buy Entry.
For sell MACD +RSI show Downtrend
Stochastic overbought for entry.
Confirm with a H4 or higher TF engulfing candle pattern.