Exclusive site for price action forex tradersSubscribe Now

New Enhancement to Trend Line EA – Helps Spot Reversal Trades!

I have applied a small tweak to my trend line script whereby it now has the ability of detecting whether a currency has had X number of consecutive closes beyond it. This has proved perhaps more beneficial in the lower time frames such as the … [Read more]

Why Do Horizontal Trend Lines Work?

Whenever you use an indicator or a trend line in your trading or analysis it's always good to challenge your presuppositions. Many traders love an indicator because it looks nice or appeals to their taste, which may be a great way to start in … [Read more]

AUDNZD Caught Between Two Worlds

The AUDNZD seems caught between two worlds. Last week we saw a strong bullish move which showed promise of breaking it's long standing resistance area that has been in effect since before Christmas last year. However, more effort is needed and it … [Read more]

What More Can Be Made After Making 2,037 Pips (in 1 Trade)??

You'll recall last year the famous channel breakout of the GBPCAD. I entered this trade and ended up making a nice profit from it (2,037.1 pips to be exact), however, this doesn't mean that's all folks. While we certainly have to caution ourselves … [Read more]

AUDNZD Bearish Flag – Weekly Analysis

Currently the weekly chart of the AUDNZD looks nice for further downside. Around November 2013 I made mention of the bearish flag and to watch for it's subsequent break. Alas 6 months on we did see a nice break at the beginning of 2014 and now we … [Read more]

Does The “Market” Hunt For Your Stops?

Further to our initial discussion on stop hunting it was difficult not to look at a recent trade's exit where a 1-minute candle saw price spike to my known stop loss and saw me exit the LONG trade. Very hard not to be suspicious on such activity - … [Read more]

Designing an Automated Trend Line System – Part 5

In the next part of our series we're going to begin moulding our two parts together. Currently we have an orders section and a trend line section, so now we're going to copy the functions from each into one package. As we have maintained a modular … [Read more]

Do You Feel Your Stops Are Being Hunted?

It can be very difficult to give your forex broker your entry stop and exit stop orders especially if your forex broker is known to be a market maker rather than an ECN. While I believe this activity is certainly becoming less prevalent in today's … [Read more]

Do You Make This Mistake When Creating Your Trailing Stops Function?

In the fifth part of our series on designing a simple trend line breakout system we will move on to exits. Unfortunately early on in my MQL4 coding life I made some big mistakes when I coded my trailing stop function. I found that my entries would be … [Read more]

Designing an Automated Trend Line System – Part 4

In this section we will tackle the entry ordering process. The best way I've found to test the ordering process is to simply remove all gates (such as the trend gate) and to allow the system to trade based on it's trigger. Now obviously you will need … [Read more]