Money management script
Most professional traders say that making money on Forex is quite easy, but it is much more difficult to save the money you earn.
One unprofitable trade can easily destroy the profit that was received from five successful ones.
Therefore, the money management system, which regulates aspects of capital management and the ratio of profits and losses, comes first.
Many beginners neglect this point, preferring to plan transaction volumes only based on the size of the desired profit.
This is largely due to the process of calculating safe transaction volumes, nothing if we are talking about one or two positions, but what if you have a dozen orders open?
A simple script that allows you to determine volatility for a period
An indicator such as the volatility of a currency pair or other trading asset very often raises a lot of questions among traders.
Its value helps when planning future profits and more successfully finding entry points into the market.
You can also use volatility to choose the most dynamic instrument for trading.
The process of determining volatility is quite painstaking and time-consuming, but thanks to special scripts, everything can be done in a matter of minutes.
Previously, we provided a similar Forex script on the page - http://time-forex.com/skripty/skr-volotilnost it provides data by hours and days of the week.
What the AccountInfoSample script shows in the trader’s terminal
The online trading industry does not stand still and every year new auxiliary tools appear, the use of which will significantly simplify the analytical process.
In addition to indicators and tools for technical analysis, it is possible to integrate Forex scripts into the MT4 platform - special programs written in MQL4.
Such add-ons can be used to perform various tasks:
trade automation:
• placing or canceling pending orders
• making trading more comfortable
• information functions
The last group of scripts is used most often.
These programs are designed to systematize information about trading, which allows the trader to objectively evaluate the effectiveness of the strategy, work on errors and make appropriate adjustments.
Automatic stop loss and take profit
Dynamic trading in the style of scalping , pipsing or grid trading requires maximum performance from the trader.
However, at such a huge pace, especially when it comes to pips, it is almost impossible to set the correct stop order or profit values in a timely and quick manner.
Naturally, such a situation leads to the fact that the trader suffers losses, because a huge number of unprofitable transactions have to be closed manually and not everyone can be kept track of.
Naturally, not everyone can withstand such conditions, so many simply refuse scalping and pipsing as such.
However, professionals have long found a solution to this problem, and special auxiliary advisors or Forex scripts help them with this.
Trailing Master script
One of the techniques for maintaining profits and minimizing losses is to use a “ Trailing Stop ” order in trading.
However, in many cases, the standard and familiar trailing does not satisfy all the requirements and does not solve the tasks that a trader may set for it.
Therefore, auxiliary scripts and advisors come to the rescue, which significantly expand the functionality of a standard order.
You can get acquainted with one of these Forex scripts in this article.
The Trailing Master script is an auxiliary advisor for a trader, the essence of which is to automatically perform both mass and single trailing orders when the price reaches a specified profit value for the order.
Limit orders Pro script. A universal grid trader assistant for all occasions
The profession of an analyst is to draw beautiful forecasts, and if they do not come true, then be able to competently explain why.
A trader rarely makes plans for a long time; moreover, most trading strategies are not focused on making forecasts, but on working with the consequences of one or another price behavior.
That is why, against the backdrop of the unpredictability of the market, grid trading strategies began to gain increasing popularity, where a trader, like a fisherman, sets traps for the price along its path and makes money from almost any of its movements.
However, working with grids has its drawbacks, and one of them is the huge amount of routine with pending orders, which not all traders can cope with.
The price of any mechanical error is huge losses. This is why most traders always use either advisors or auxiliary Forex scripts that allow them to solve a number of problems. You will get acquainted with one of these tools in this article.
Script for transferring history to chart
Investing in the Forex market is extremely risky, and even huge potential returns in many cases are broken by the realities of the efficiency and stability of managers.
How can you find out if a manager can conduct effective trading?
What is his strategy and, most importantly, aren’t these indicators inflated due to the competent use of risky capital management , which give a beautiful picture of the profitability graph, but at the same time the loss occurs suddenly and simultaneously?
In order to answer this question, you need to study in detail the trader’s trading principle, and additional programs for the trading platform - Forex scripts - will help you.
The script for transferring history to a chart StrategyViewer is an auxiliary program for your MT4 that allows you to extract history from an Excel report, which can often be downloaded by various services for copying transactions and PAMM sites.
It is worth noting that the script was developed specifically to pull transaction histories onto the chart from the signal copying service from the metatrader developer, which are still located directly in your platform.
Invisible feet. An expert who can keep your secret from a dishonest broker
One of the problems when working with brokers is the lack of transfer of transactions to the real interbank market, when all operations are virtual and carried out within the company.
You may ask, why would a broker do this? What’s the point of bringing traders to the real market if nine out of ten participants merge?
It’s easier for a broker to arrange virtual trading and take traders’ deposits for themselves rather than hand them over to the market. There is practically no difference in trading internally or on the interbank market if the broker withdraws the profit.
But such a work scheme represents a certain conflict of interest. After all, the company will never be interested in effective traders, so often unscrupulous brokers interfere in traders’ trading.
The most important tool in the hands of a dishonest broker is the stop order and the trader’s profit, which the company may not execute, transfer or fix, as it is convenient for it.
Manipulating quotes in modern conditions is not possible, since such facts would very quickly be identified and made public, but the stop order and profit still remain the most vulnerable point.
Script "Drawdown". Be aware of what's happening on your account
Many traders pay attention specifically to trading tools, ranging from trading strategies to Forex advisors . However, in pursuit of the Grail, stupid and ridiculous mistakes are often made, the price of which becomes a huge part of the trader’s deposit.
For example, many people don’t even think about how important it is to monitor the situation on the account, because they think that the established profits and stop orders will always work.
And if only manual trading is used on the account, such a careless attitude is still excusable, but when advisors and full automation are used, even the slightest failure that arose due to a temporary disconnection can simply lead to dire consequences.
However, not everyone can always be constantly at their monitor in order to track the drawdown on the account.
It is for this purpose that the trading terminal provides Push messages, and with their help you can monitor the situation using Forex advisor scripts.
Binary Option open trade script. Instantly opening binary options trades
In the trading process, it is very important to respond in a timely manner to emerging strategy signals, as well as to open a position in a timely manner so as not to miss a potential piece of profit.
It is especially important to work on the speed of opening transactions for scalpers, as well as traders trading on news, since at the moment a certain economic indicator is released, the market covers enormous distances at lightning speed.
However, if there are many scripts and Forex advisors created on the market that significantly realize this opportunity, then the binary options market can only dream of such opportunities.
Unfortunately, most binary brokers do not use a perfect trading platform, so many use additional terminals, which, of course, is reflected in the speed of opening a transaction.
However, some brokers allow options trading through MT4, but their system for opening a trade is not perfect.
Infopanel. Forex information script for MT4
During the trading process, it is very important to have basic information directly in front of your eyes.
The price of the asset, the size of the spread at the broker , the balance, as well as the profit on open positions, the number of open positions and the banal time until the candle closes - all these small details, one way or another, are used in trading.
However, in the basic functionality of MT4, in order to find out about the same spread for the selected asset, you need to independently subtract prices.
Moreover, if at four-digit quotes this is quite simple, then at five digits it is already difficult, and time is simply wasted when you need to make a decision and conduct active trading.
Also, the function of displaying the time until the candle closes is one of the most important for traders trading binary options, and the platform does not have it at all.
Script for moving stop loss on Forex
One of the biggest problems faced by both beginners and more experienced traders is closing a position prematurely.
Such an approach to the market, in which the trader closes a profitable position at the slightest opportunity, leads to the fact that the ratio of risk to potential profit changes far from the trader’s favor.
The real way to deal with this situation is to use a trailing stop.
However, trailing, which is present in its classic form in the MT4 trading platform, is far from ideal, since at the moment when the price begins to adjust, the position is closed early and profits are not received.
This is why many traders use two-way trailing, the essence of which is to move a stop order following the price at a certain distance from it. If desired, you can automate the process if you use Forex scripts.
For example, one of these tools is the stop loss StopLossMove.
Strategy evaluation script
Any trading trading strategy sooner or later lends itself to better testing on various indicators by the trader.
Profit factor, mathematical expectation, a series of profitable and unprofitable trades, maximum and average drawdown, profit-to-loss ratio, as well as the average profitable and unprofitable trade - all these indicators characterize the strategy and make it clear to the trader, as well as the investor, about its potential.
Actually, in this article you will get acquainted with a special script that in a matter of seconds will evaluate your trading strategy based on the history of your transactions and give it a qualitative assessment.
Tradingsystemrating is a custom script developed for the MT4 trading terminal, the main task of which is to evaluate your trading strategy that is applied on your account.
The script evaluates the strategy to choose from using two methods. The first strategy evaluation technique was described by Van Tharp in the book “Super Trader.
Script advisor Trade Predator
The speed of opening a position plays a vital role for traders who prefer news trading or scalping in sharply moving markets.
However, if the extensions for the MT4 trading platform called “One Click” allow you to quickly open a position, then you have to spend a lot of time installing stop orders and profits.
For a trader whose profit amounts to several points of profit, such a delay is comparable to losses.
And if traders trading a static lot somehow smooth out this situation by quickly opening a deal in one click, then what should a trader who uses a dynamic lot do, risking a certain percentage of risk per position?
The only way to solve the problem is to use assistant programs, and in this article we will use one of them.
Trading statistics with the Iprofit Custom script
Each trader has his own goals, namely, someone stops trading upon reaching a certain amount of profit, someone upon reaching a certain percentage of the deposit, and someone stops trading after receiving a certain percentage of loss.
One way or another, no matter what strategy a trader uses, the main thing is to have clear goals and limits that allow you not to give in to the animal instinct and the desire to win back or conquer the Forex market.
However, in practice, maintaining such statistics is not easy, since you have to carry out additional calculations or register with special monitoring services on an ongoing basis.
That is why, in order to see all the trading statistics on the account and not resort to third-party services, special information assistant indicators were created.
Volatility script
The volatility of a financial asset is the most underestimated characteristic of the market, due to which many traders fail.
The fact is that volatility displays the range of price movement in points for a certain unit of time.
Thanks to this indicator, each trader will be able to outline for himself certain goals that a particular currency pair can achieve within a day or even a couple of hours.
VolScript volatility script is a special application for traders on the MT4 platform, thanks to which you can find out the current and average volatility in the market.
It is worth noting that, unlike many similar scripts and indicators that determine volatility, VolScript displays its hourly changes, and also provides statistics by day.
Range Bars script. Removing market noise
The difficulty of carrying out technical analysis, as well as using various technical indicators, is that the chart is simply oversaturated with market noise, which makes it quite difficult to assess the current market situation.
This is due to the fact that the charting we are used to, be it candles or bars, is trivially tied to a time interval.
Yes, each new candle appears not because the price has covered a certain distance, but because five or fifteen minutes have ended and even the minimum price shift is recorded on the chart.
That is why, at a time when the price is in a very narrow range, we can observe a series of horizontal candles, which do something that confuses every trader.
Due to the peculiarities of chart construction, indicators following the price can give a lot of false signals, because the tool simply does not understand what is on the market flat.
Script that flips positions
In the process of trading, every trader is faced with a fraudulent market maneuver, when a seemingly clear trend changes its direction in a matter of seconds.
Many traders accept defeat and wait to exit the forex market with a stop order.
But you can also reverse the position, which will make it possible to make a profit from a new trend, and the amount of profit directly depends on how quickly the revolution is made.
The position reversal script Revers is an excellent solution for traders who practice reversing positions. Unlike many analogues, the script automatically remembers the volume and number of previously opened orders and performs a reversal with exactly the same lot.
It is worth noting that this script is a universal tool and performs a one-time action, which does not overload your trading platform.
Indicator for screenshots of Forex transactions
In the process of studying stock exchange literature, almost every book author advises his readers to start their own diary. You've probably wondered more than once why this is necessary, since the entire history of transactions is stored directly in the trading terminal and can be retrieved at any time in the form of a report.
However, it is worth understanding that the diary is not intended to preserve history, but to analyze it. We doubt that any of you, a month later, will be able to say why he opened a deal, what judgments he was guided by and, banally, what mood he was in.
However, it is working on yourself and your mistakes that allows a trader to improve, improve his strategy and methodology for entering the market, identify patterns, and also identify his own vulnerabilities.
However, despite the fact that many agree to this step and start keeping a diary, they often do it incorrectly.
The vast majority of traders, especially the older generation, keep their diary in a regular notebook or notebook, forgetting about the most important object of analysis - the trading chart at the time of transactions. Naturally, it is possible to take a screenshot in the trading terminal, but this takes time and effort, which leads to the trader forgetting to do this.
The best place to take profits is EasyTakeProfit
Many traders pay excessive attention to the entry system of their own strategy, rather than exit points. No matter how strange it may sound, the number of traders changing trading tactics one after another is simply thousands, and in fact there are only a few of those who thought about the reason for losing their deposit.
Often, two banal parameters such as profit level and stop level can radically change statistics forex strategies.
Thus, succumbing to emotions, many beginners set a stop order that is too large, or abandon it altogether. In the first case, with a large stop order, the ratio is violated, which subsequently leads to the drain of the strategy.
In the second case, the absence of a stop order causes the accumulation of a huge loss, which sooner or later will have to be closed.
With the increasing popularity of scalping among many traders, the practice of setting too small a stop order has emerged due to the reluctance to lose a lot in one trade.
Price movement speed script
When analyzing the foreign exchange market, it is necessary to pay attention not only to such characteristics as trend, flat and direction of price movement, but also to its speed in Forex.
This is primarily due to the speed of price movement at a certain moment. So, if you drive news trading, the speed of reaching the stop order and profit will be significantly different than when a transaction is opened with the same goals and risks, but in quiet times.
The price movement speed factor can directly affect the effectiveness of your open trades, because even experienced traders they claim that a deal is considered successful if it goes into profit in the first seconds and does not remain in place.
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