Sniper Fox Scalping EA
Robot auto trading by metatrader
SniperFox Scalping EA & Price Action Bar Indicator
Use scalper system only on EURCHF, EURGBP, GBPCHF, USDCAD timeframe M1, M5 or M15
After download , put the Scalper EA.ex4 in your Metatrader\Experts\ folder
the Price Action bar V2.ex4 in Metatrader\Experts\indicators\ folder
and the EA.dll to Metatrader\experts\libraries\ folder
Then click , drag and drop both the indicator and the EA in your favourite pair chart
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EA Forex Scanner
Based on the timeframe you're viewing, the scanner will check all currency pairs that your current MT supports. It will look for some of the most common technical analysis patterns and output them to the screen for your examination.
Please note: This is not an auto-trader. It will merely scan all charts and present you with the results and you can decide whether to enter a trade or not.
INSTALL THE SCANNER:
Here's the steps to installing this scanner
1 - Open the zip file to a new folder
2 - Place the WAV files (3 of them) in the folder \\sounds
3 - Place the file Homma.mq4 in the folder \\experts\\libraries
4 - Place the file GoHan_Scanner_Complete_M5.ex4 in the folder \\experts
5 - Open MT and attach the GoHan Scanner to a M5 chart
That's it. Now all you do is wait for a new bar and the latest alerts will be shown to you in the upper-left hand corner of the screen.
Remember, this is not an auto-trader. It will merely point you to the info and then you can evaluate the trade on your own.
WHAT THE SCANNER SHOWS
I have designed the scanner to look for a variety of common chart patterns across all currency pairs. The major patterns it looks for include:
- Double Top Lower Close - a price has hit the same high level twice and the latest bar has closed down, indicating a potential resistance point.
- Double Bottom Higher Close - a price has this the same low level twice and the latest bar has closed up, indicating a potential support point
- SMA 200 Breakout - The price has crossed either above or below the 200 SMA
- 3WMA and 5WMA Crossover - There has been a crossover (it will alert on either up or down) between the 3WMA and the 5WMA
- Bearish Engulfing - The latest candle has closed down and "engulfs" the previous gain, indicating a potential bear run
- Bullish Engulfing - The latest candle has closed up and "engulfs" the previous loss, indicating a potential bull run
- Three White Soldiers - a consistent rise over the last three periods
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Source: http://www.fictraders.com
Riding the forex rollercoaster
The past few weeks have been some of the most challenging I have seen in my 25 years working on Wall Street. Not surprisingly, the bad news and volatility that’s been occurring in the credit and financial markets has also spilt into the foreign exchange (forex) markets as well – and we’re seeing significant volatility across currency pairs, particularly where the US Dollar is involved.
Here’s proof. Looking at the daily price movement in EUR/USD from 5 PM NY to 5 PM NY time, we have, over a number of years, calculated the average daily price moment of the currency pair in a day Until this month the highest price movement differential was 1.55 per cent reached in September 2000. On average, the daily movement in price of the EUR/USD tends to average 1 per cent a day. but in the last few years we have had less volatility with narrower daily movements; in 2005 it was as low as 0.87 per cent, in 2006 – 0.73 per cent; 2007 – 0.60 per cent and year to date for 2008 - 0.98 per cent. However, looking at the month of September the average has significantly increased to 1.67 per cent (as at end of September 08), and up even more to 1.88% as of Oct 13, a marked difference from its average, and a reflection of the high volatility in the forex market currently.
But of course, with greater volatility comes better trading opportunities. Not only does volatility create wider spreads, but also more spikes in the market; enabling investors to make a decision on the future direction of a currency pair. But it also means higher risk, which makes it more important than ever to be well prepared before you start trading. For example, when you enter a trade you should have pre-set expectations for where you think the market will go (profit levels) and where you will get out if you are wrong (stop loss).
The extreme conditions in the credit markets are creating an inverted yield cure (where short term rates are higher than long term rates) in the US for the first time since the 1970s and from a forex perspective, this means you will see massive swings in the day-to-day roll rates on your Forex trades. The ‘Daily roll’ rate is the interest rate you earn or pay each day when you hold a currency overnight.
In short, volatility brings market movements, which brings the opportunity not only for returns, but for losses as well. So it’s vitally important you plan your trades carefully and understand the impact the activity in the wider market is having on the forex market. Forewarned is fore-armed after all.
