Price Action Indicators and Tools Forex Simulator is surely one of the best and most advanced trading simulators created for Metatrader 4. It is the successor of MT4 Trading Simulator Pro, so it offers all its features, but also brings several new ones. Since I have already written about the idea of simulated trading and about features of MT4 Trading Simulator Pro in other post here, I will 8230 Analyzer is a great MT4 indicator which shows strength and weakness of all eight major Forex currencies. It can quickly tell you which currency combination is best to trade at the moment. Analyzer is based on real-time price action and updated with every tick. You can also choose to use any preselected timeframe and range of data instead of real-time 8230 Lighthouse is an MT4 indicator for displaying support and resistance lines. It shows you the most important trading levels and draws them according to their relevance. Support levels are drawn as green lines and resistance levels are drawn as red lines. If a level is clearly broken, it changes its role and color. Broken support becomes resistance and vice versa. 8230 PZ Support Resistance is a Metatrader 4 indicator which automatically detects and displays important price levels. Each level is drawn as a horizontal line. It also analyzes the importance of each level and marks it with a different color and width. It lets you save a lot of time, which is normally needed to find and draw these levels manually. 8230 PZ Day Trading is a great MT4 indicator which quickly detects reversals on any market. Based on breakouts of variable lengths, the indicator uses only price action to pick trades. It reacts very fast to any changes in price movement. It has very high accuracy (gt 80) on most Forex symbols. The indicator is non-repainting and it can work on 8230 MT4 Trading Simulator Pro is a Metatrader 4 plugin aimed for training Forex trading skills. It lets you learn the market, practice and gain trading experience very quickly. This tool will be very useful for everyone who is familiar with MT4 and wants to make his or her trading more profitable. Since certain market behaviour often repeats many times, it 8230 PnF Charts is a Metatrader 4 indicator for creating famous Point and Figure charts. Point and Figure chart consists of columns of X8217s and O8217s. Each X column indicates an uptrend and each O column indicates a downtrend. In order to form a new X or O in a column price action has to extend its current move by a 8230 This indicator is an easy and powerful tool for displaying price action in Metatrader 4. Tick charts focus mainly on price action and allow traders to see the market in a way much different from standard time-based charts. With standard time-based charts every bar (candle) shows a fixed amount of time, for example 1 minute, 15 minutes, 4 hours or 8230 Recent Posts CategoriesHome Forex Strategies Trading Made Simple Forex Strategy 8211 Powered by TDI Indicator Trading Made Simple Forex Strategy 8211 Powered by TDI Indicator Every trader has a common cycle in the forex market. First you start with a demo account, buy when price goes up, sell when price goes down. Everything seems perfect in first couple of weeks. You decide to open a real account. Meanwhile you discover that there are many indicators to tell you what to do. Your charts become full of indicators, you can barely see because there is no space left on the chart. You open a position with real money and things start to get harder. Sometimes you close trades with little profits while you could have closed it earlier and gained 150 pips. Since you dont have certain rules and strategy, your account starts to melt due to different market conditions. At this point you start to search forums, web sites to tell you what to do. Finally you blow another account and blame others for their bad calls. Next you search for profitable expert advisors to run on your computer. Of course, you get the same result. Finally you decide to find a strategy that works and you learn new things as you search. Most important thing I have learned to become a successful was being patient (waiting for the right time) and following the strategy that I am using. Of course you learn risk management as well. Ah and one more important thing never get motioned from other traders calls, only trade what you triggered by yourself, it is the only way to learn mastering your system and be successful. Well, MetaTrader is the most common program that is used by traders so I am going to explain this system on this platform. The indicators provided here work on MetaTrader 4 platform only. You have to copy indicators to indicators folder and template files to template folder. For example: Indicators go to C:mt4expertsindicators folder and templates go to C:mt4templates. Now I am going to explain a strategy which works well as long as you follow its rules. You can use this strategy for all major pairs. Recommended time frame is 4hours. First have a look at the chart below. As you see we use Heiken Ashi candles. But why Heiken Ashi Candles There are five primary signals that identify trends and buying opportunities: Positive candles (green) containing no wicks: There is strong uptrend momentum in the session and it will likely continue. Here, the trader will have a hands-off approach to profits while strongly considering adding on to the position. Positive candles with no lower 8220shadows8221 indicate a strong uptrend: let your profits ride Positive candles (green) containing shadows or wicks: Strength continues to support the price action higher. At this point, with upside potential still present, the investor will likely consider the notion of adding to the overall position. A smaller candle body with longer wicks: Similar to the doji candlestick formation, this candle suggests a near-term turnaround in the overall trend. Signaling indecision, market participants are likely to wait for further directional bias before pushing the market one way or the other. Traders following on the signal will likely prefer confirmation before initiating any positions. Negative candles (red) containing shadows or wicks: Weakness or negative momentum is supporting the price action lower in the market. As a result, traders will want to begin exiting initial long positions or selling positions at this point. Negative candles (red) containing no shadows or wicks: Selling momentum is strong and will likely support a move lower in the overall decline. As a result, the trader would do well to add to existing short holdings. Trading Made Simple Trading Strategy: Trades are made between 06:00 GMT and 14:00 GMT. We enter a trade when green crosses red on the TDI at the beginning of that candle. If it is 3 or more candles, don8217t enter the trade. Wait for another trade set up. The only exception is if green bounces off red and continues, then it is ok to reenter on the bounce. Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal. In this example, you can see when our conditions are met. First yellow marked candle is where we sell and second marked candle is where we buy. Place your stop according to your risk appetite. Start trading this strategy on a demo account until you build your confidence and only then consider switching to a live account. Download Trading Made Simple Forex Strategy Indicators and Template Download Include: strategy5.tpl Stochastic Slope. ex4 TDI Red Green. ex4 SynergyAPB. ex4Indicators for the Trading Made Simple system Joined Mar 2010 Status: Member 1,363 Posts It appears that some versions of the TDI indicators being used in the Trading Made Simple system look different live than they do after they have been redrawn. The lines for the current bar are mostly not updated as the bar changes. This results in the chart of an indicator that has been running live looking different form a chart of an indicator that is newly loaded. The line for the current bar is drawn when the bar opens and then is only updated if the brokers server happens to request an update of the previous bar. Does the author of the original indicator know something the rest of us dont about why MT4 servers request updates of bars or is the slope of the current bar just based on a chance event Here are alternative indicators that update the currently open bar as ticks are received and some derivativesupporting indicators. TDI-Sub. mq4 : A subset of the TDI. No volatility bands. Build 600 Market base line is not exactly the same but close enough. TDI-RT-Clone. mq4: A clone of the TDI that works in MT4 build 600 . Volatility bands and market base line are not exactly the same but they are close enough. Main Oscillator. Use instead of the TDI indicator. Displays the RSI signal, the trade signal and optionally the market base line. Draws arrows on chart showing the crossover of the RSI signal and the Trade signal. Optional popup and email alerts on signal crossover. Tape chart of the RSI Signal and the Trade Signal. Optional popup and email alerts on tape color change (signal crossover). TMSTDIWatchDog. ex4 by plamendp Shows last 2 bars TDI Delta (slope as units per candle) Slope Histogram Alerts: Popup and Email Alerts based on slope value while Green crosses Red RepaintNon Repaint switch Alert logging in a file under quotexpertsfilesquot Multitimeframe Multisymbol Colorize last bar Equal to Big Es original quotTDIquot If all options are left by default xTDI Strong-Histo v1.01 xTDI-Histo v1.11 Old indicators from the 5 Method thread modified to update on every tick. Refer to links provided in download link for more info. TMS-Osc. mq4, TMS-Osc Cross. mq4, TMS-Osc Histo. mq4 Input parameters: RSI. Period13 RSI Period RSI. PricePRICECLOSE RSI Price Type: CLOSE0, OPEN1, HIGH2, LOW3, MEDIAN4, TYPICAL5, WEIGHTED6 RSISignal. Period2 RSI Signal MA-Filter Period RSISignal. ModeMODESMA MA-Filter Method: SMA0, EMA1, SMMA2, LWMA4 TradeSignal. Period7 Trade Signal MA-Filter Period TradeSignal. ModeMODESMA MA-Filter Method: SMA0, EMA1, SMMA2, LWMA4 Arrow. Type2 0Thin, 1Thick, 2Hollow, 3Round, 4Diagonal Thin, 6Diagonal Thick, 7Diagonal Hollow, 8Fractal, 9Ribbon, 10Thumb, 11Finger Arrow. Size1 Size of arrow (1-5) Arrow. Spacing25 Offset from end of candle to show arrow Alert. Popupfalse Popup window amp sound on alert Alert. Emailfalse Send email on alert Alert. SubjectquotDefaultquot Email Subject. If quotDefaultquot the subject is set by the indicator 2015-09-09 - Draw arrows on open bar too - Parameter for alert trigger bar 2014-12-27 - Updated for build 600 - Push Notifications 2014-02-25 - TDI-Sub: A subset of the TDI. No volatility bands. Build 600 Market base line is not exactly the same but close enough. - TDI-RT-Clone: A clone of the TDI that works in MT4 build 600 . Volatility bands and market base line are not exactly the same but they are close enough. 2011-05-18: Uploaded v1.04 of TMS-Osc Cross and TMS-Osc-Arrow. - Fixed: Repeating Alerts. 2011-05-18: Uploaded v1.03 of TMS-Osc Cross and TMS-Osc-Arrow. - Fixed: Timestamp in email alert. 2011-05-17: Uploaded v1.02 of TMS-Osc Cross and TMS-Osc-Arrow. - Fixed: Alerts for bar 1 only. Prevents multiple alerts when MT4 reloads bars. 2011-05-16: Uploaded v1.01 of TMS-Osc Cross and TMS-Osc-Arrow. - Fixed: No alerts after initialization. Attached Image (click to enlarge) It appears that some versions of the TDI indicator being used in the Trading Made Simple system appear to be a bit flaky. The lines for the current bar do not repaint correctly. This results in chart of an indicator that has been running live looking different form a chart of an indicator that is newly loaded. Here is a replacement that should work correctly and a couple of supporting indicators: TMS-Osc. mq4: listMain Oscillator. Use instead of the TDI indicator. Displays. Hi xaphod, I was wondering if you would happen to know a way of replicating the TDI by using an rsi and something else. I have different charting software that will not allow me to add indicators but it has the standard RSIs and MAs etc etc and I am wondering if you know what settings I could use to replicate the green and red lines on the TDI Sorry for any inconvenience. Dean Hi xaphod, I was wondering if you would happen to know a way of replicating the TDI by using an rsi and something else. I have different charting software that will not allow me to add indicators but it has the standard RSIs and MAs etc etc and I am wondering if you know what settings I could use to replicate the green and red lines on the TDI Sorry for any inconvenience. Dean Put a RSI 8, on your chart. On top of the RSI 8 place a MA 8. This 8 on 8 indicator ( from the early days of FF ), is almost identical to the TDI. Every now and then ( very rarely ), the 8 on 8 will cross one bar before the TDI. Hi xaphod, I was wondering if you would happen to know a way of replicating the TDI by using an rsi and something else. I have different charting software that will not allow me to add indicators but it has the standard RSIs and MAs etc etc and I am wondering if you know what settings I could use to replicate the green and red lines on the TDI Sorry for any inconvenience. Dean If youre using Dean Malones original settings, the green line is a SMA(2) of a RSI(13,close). Then the red line is a SMA(7) of the green line. By way of proof, you can replicate this using factory MT4 indys: 1. Create RSI in a new window. Set the parameters to 13 and close, and the color to None, so that it doesnt show. 2. Drag the MA indy into the same window as the RSI. Set the values to 2, simple, close, color Green, and most importantly, Apply to Previous Indicators Data 3. Drag the MA indy into the same window as the RSI. Set the values to 7, simple, close, color Red, and once again, Apply to Previous Indicators Data That should be an exact match to TDI with the settings (see attached screenshot): RSIPeriod 13 RSIPrice 0 RSIPriceLine 2 RSIPriceType 0 TradeSignalLine 7 TradeSignalType 0 The other parameters impact only the yellow and blue lines. So the answer is yes, you can replicate TDI greenred lines in any charting package that allows MAs of a RSI. Attached Image (click to enlarge) If youre using Dean Malones original settings, the green line is a SMA(2) of a RSI(13,close). Then the red line is a SMA(7) of the green line. By way of proof, you can replicate this using factory MT4 indys: 1. Create RSI in a new window. Set the parameters to 13 and close, and the color to None, so that it doesnt show. 2. Drag the MA indy into the same window as the RSI. Set the values to 2, simple, close, color Green, and most importantly, Apply to Previous Indicators Data 3. Drag the MA indy into the same window . Firstly I would like to thank you all for your input. After playing around with them all it seems Davids is the pretty much spot on, so thank you again and specifically thank you David, I appreciate it greatly. Dean thanx or the indies. But there is a problem: After saving the indicators in the appropriate folder my MT4 freezes as soon as I want to open the indicator list. This happened on 3 different brkers. Could you please check that PS: Problem is even worse. after deleting the indies, the platform still freezes after trying to open the indicator list. have to re-install I think. PPS: The freeze occurs also occurs on trying to open the object list. probably on all menus. Pippin for a Livin But there is a problem: After saving the indicators in the appropriate folder my MT4 freezes as soon as I want to open the indicator list. This happened on 3 different brkers. There is nothing out of the ordinary in these indicators. It is all standard mql4 code. For maximum compatibility with your version of MT4, it is best to install the source files. mq4, and let your MT4 compile them when it starts up. Also, the indicators are not run until you put them on a chart. So I do not see how they can cause your MT4 instances to crash merely by being in the indicators folder. Do a security scan of your computer with a good antivirus program. Problem is even worse. after deleting the indies, the platform still freezes after trying to open the indicator list. have to re-install I think. The freeze occurs also occurs on trying to open the object list. probably on all menus. If you cannot startup after deleting the indicators then the indicators are probably not the problem. MT4 cannot run deleted indicators. This below is for if you have a problem starting up MT4 However it seems you can start up so it does not apply to your situation. Go to folder. metatraderprofiles edit the file lastprofile. ini and set it to a profile that you know works. If you dont have any other profile besides default the you can delete the files in. metatraderprofilesdefault This will remove all open charts from the profile. It appears that some versions of the TDI indicator being used in the Trading Made Simple system appear to be a bit flaky. The lines for the current bar do not repaint correctly. This results in chart of an indicator that has been running live looking different form a chart of an indicator that is newly loaded. Here is a replacement that should work correctly and a couple of supporting indicators: TMS-Osc. mq4: listMain Oscillator. Use instead of the TDI indicator. Displays. Thanks for the indic. i hope i ll not be of more pain by asking if you can make the TMS-Osc. mq4 more flexible by adding a user define timeframe input. it would be great if we can plot it on maybe H1 tf and it would display the H4 data so that we know wether we are going against or with the immediate higher tf without toggling througth different tf. Sorry for my english, hope you understand.
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