Create and Test Forex Strategies
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| eas-guide:strategies-and-expert-advisors [2021/01/11 12:07] – Ilan Vardy | eas-guide:strategies-and-expert-advisors [2021/01/14 05:22] – [Indicators] Ilan Vardy | ||
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| MetaTrader is the most popular trading platform in the world. Most regulated brokers provide it free of charge. MetaTrader is developed by a company called MetaQuotes. Currently, MetaTrader **4** is the preferred trading platform among traders. There is also a newer version - MetaTrader 5. MetaTrader 5 is the latest version however, it is not as popular. | MetaTrader is the most popular trading platform in the world. Most regulated brokers provide it free of charge. MetaTrader is developed by a company called MetaQuotes. Currently, MetaTrader **4** is the preferred trading platform among traders. There is also a newer version - MetaTrader 5. MetaTrader 5 is the latest version however, it is not as popular. | ||
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| The main purposes of a trading platform is to deliver data from the broker to your screen and to allow you to trade. MetaTrader allows you to trade manually as well as automatically. | The main purposes of a trading platform is to deliver data from the broker to your screen and to allow you to trade. MetaTrader allows you to trade manually as well as automatically. | ||
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| In the image below, you can see a price chart of the EURUSD market. You can trade manually - buy and sell on the market. You can also see the current (latest) price on the far right of the chart. The price constantly changes and it is not always easy to decide whether you should buy or sell and what point in time you should execute your trade. Of course, you want to trade in the correct direction because you want to make a profit. | In the image below, you can see a price chart of the EURUSD market. You can trade manually - buy and sell on the market. You can also see the current (latest) price on the far right of the chart. The price constantly changes and it is not always easy to decide whether you should buy or sell and what point in time you should execute your trade. Of course, you want to trade in the correct direction because you want to make a profit. | ||
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| ==== Indicators ==== | ==== Indicators ==== | ||
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| You can add an indicator to the chart very easily. For our example, we will use one of the most popular indicators - MACD (" | You can add an indicator to the chart very easily. For our example, we will use one of the most popular indicators - MACD (" | ||
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| Once we add the indicator, a window displaying the **Options** appears. Since indicators are based on mathematical formulas we can choose the **Inputs** tab and choose values for some of the variables in the mathematical formula of the indicator. By changing the variables, you can change how the indicator is drawn out on the chart. | Once we add the indicator, a window displaying the **Options** appears. Since indicators are based on mathematical formulas we can choose the **Inputs** tab and choose values for some of the variables in the mathematical formula of the indicator. By changing the variables, you can change how the indicator is drawn out on the chart. | ||
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| As soon as you drop the indicator onto the chart you will see red lines appear on the chart. You will also notice bars appear below the chart. (If the indicator opens a dialogue window, just press OK.) | As soon as you drop the indicator onto the chart you will see red lines appear on the chart. You will also notice bars appear below the chart. (If the indicator opens a dialogue window, just press OK.) | ||