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Invented by Edward Coppock, the Coppock indicator for Metatrader 4 provides traders with easy to read buy and sell trade opportunities.   The indicator is based on rate of change (ROC) and the moving average indicator.   The figure below shows an example of the indicator on the 4-hour EUR/USD chart. Buy above 0.00 level, sell below 0.00.   Trading Signals Buy: Coppock indicator histogram bars above the 0.00 level. Sell: Coppock indicator histogram bars below the 0.00 level.   Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any   Configurable Indicator Options Colors, ROC1 period, ROC2 period, MA period, MA type (SMA, EMA, SMMA, LWMA),…

This trading indicator draws 3 timeframe’s (TF1, TF2, TF3) of your choice below the main chart. It’s easy to keep up with long and short trends without the need to switch the main timeframe.   You can choose timeframe’s from 1 minute up to the monthly (M1, M5, M15, M30, H1, H4, D1, W1, MN).   Trading Signals Buy: No buy signals from this indicator. Sell: No sell signals from this indicator.   Indicator Preferences Currency pairs: any Time frames: any Trading sessions: any   Configurable Indicator Options Colors, TF1, TF2, TF3, Bars per timeframe…   Example: EUR/USD 1-Hour Chart  

Posted by kimberlyjones

The Aroon Oscillator v1 indicator for MetaTrader4 is an indicator that was developed by Tushar Chande and has the ability to spot the formation of new trend as well as also define such trend’s momentum.   The Aroon_Oscilator_v1 is computed by working the difference between the Aroon-Up and Aroon-Down.   The Aroon_Oscilator_v1 indicator fluctuates between -99 and +99 and has 0.00 as its middle line.   When the Aroon_Oscilator_v1 indicator is positive, it presents a trend bias to the upside. When the Aroon_Oscilator_v1 indicator is negative, it presents a trend bias to the downside.   When the Aroon-Up is greater than the Aroon-Down, the indicator gives a reading above zero, an indication that price is experiencing new highs more lately than fresh lows.   On the other hand, when the Aroon-Down is greater than Aroon-Up, the indicator reading is below zero, an indication that price is experiencing new lows more lately than fresh highs.   We can explain the strength of a trend by considering the indicator’s positive or negative threshold i.e. when the Aroon_Oscilator_v1 indicator breaks above the +50 level, it suggest a strong bullish move, while a break below the -50 mark indicates a strong bearish move.   The Aroon_Oscilator_v1 indicator is essentially used in defining the overall trend bias.   The indicator will stay in the positive zone when the market is experiencing a strong bullish move and will also remain in the negative zone when the market is in a strong bearish push.   Subject on the parameter values on the Aroon_Oscilator_v1 indicator, range bound or short trends can result in the indicator frequently move above or below the zero signal line.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (AroonPeriod, Filter, CountBars), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: momentum oscillator

The Accumulation Swing index forex indicator (ASI) for MetaTrader 4 is a technical study that was developed by Welles Wilder.   The indicator finds its use in the trading of divergences and also as a confirmation tool.   The long term trend of a financial asset can also be measured using the ASI. The ASI is essentially the accumulative total of values of swing indexes of each bar.   The swing index is quite popular in the futures market, but also finds use in forex trading.   The accumulative swing index offers an enhanced long-term outlook than deploying the basic swing index, which deploys data from just two bars.   The accumulative swing index is positive when the long-term trend is upward.   However, when the accumulative swing index is negative, the long-term trend is downwards.   A sideways or non-trending long-term trend is depicted when the accumulative swing index fluctuates between negative and positive values.   Besides using this indicator as a tool for confirming divergences, the ASI is also being deployed in the confirmation of break outs.   This can be achieved by drawing trend lines on the ASI indicator along with corresponding trend lines on the activity chart.   A breakout in prices from the trend line is confirmed when the ASI trend line breaks out.   The values of look back period can be customized to reflect the trader’s preference.   The line of the ASI indicator reflects real market price and as such we can draw support/resistance levels on it, with corresponding levels on the price chart to simply visualize price breakouts.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (T), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: oscillator, divergences, support/resistance

Posted by brandywalker

“Discovered while day trading in 1989 by Nick Stott, a successful bond trader in the financial markets, the SureFireThing ‘Camarilla’ equation uses a truism of nature to define market action – namely that most time series have a tendency to revert to the mean. In other words, when markets have a wide spread between the high and low the day before, they tend to reverse and retreat back towards the previous day’s close. The SureFireThing Camarilla Equation uses some complicated mathematics to pluck 8 levels out of thin air, using nothing more than yesterday’s open, high, low and close. These levels are, frankly, astounding in their accuracy as regards day trading, even to seasoned traders, who know all about support and resistance, pivot points and so on.”   Below are a collection of Camarilla indicators for metatrader. You will have to go through them and see which one you like. They are only the first part of the indicator so you will need to compile them once you have saved them to your experts>indicators folder.

I have just added the indicator Ultra Trend to the MT4 indicator list.   There are various uses of this is indcator and in the near future I will be doing a section on this indicator. It is, as with most Mt4 indicators, most commonly used on forex trading systems but I have been watching it on the FTSE 100 futures so can’t really comment on its use in forex trading but definitely think it has its merits.

Posted by carolynholmes

Here is a great little free indicator for Metatrader. In short is a Parabolic Sar indicator which calculates the Sar on a macd.   All you have to do is upload the file to your MT4 indicator folder, compile it and then add it.   The best way to add it is to open up you navigator window on the left, select custom indicators and drag and drop it into a macd indicator window.   Obviously, you should select the same settings for the macd in the sar indicator as you have for the main macd indicator. And that is it.   I have added a chart below so you can see what it looks like.    Enjoy…let me know what you think of it.  

I personally like the Fisher indicator on metatrader. The Fisher Yur4ik indicator is a simple version of the the Fisher Transform indicator which was devised John Ehlers.   Ehlers indicators have become more popular in the last few years and I certainly feel they deserve as much attention as any other indicator out there.   I think that the Fisher indicator is best used when it is used as the main trend indicator of a trading system. This means that you will first look at Fisher and if it is above the zero line you will be looking fro buy signals and if it is below the zero line you will be looking for sell signals.   Here is a very simple 1 min Ftse chart of a basic Fisher concept with a moving average crossover used to generate the entry signals. The Fisher indicator is set to 55 and the moving     average crossover signals are two simple Ma’s set to 13 and 25 respectively. In short we are looking to only take short signals from the crossover when the Fisher indicator is red and longs when it is green. I have added a vertical line or two to show you roughly where the changes in trends occur. You can clearly see taking only the sell arrows when the Fisher transform is red and only taking green when the Fisher is green works out pretty well.   You will get a few false starts but because the the ma’s are quite short the market doesn’t move too far before giving you an opposite signal.   It is a very basic concept but one I think some could take and add their own twist to it. Personally, I would say that the way to make this idea a profitable systems is to do some manual back testing and devising a sound stop and profit taking strategy or maybe you would want to try a parabolic sar to trail your stop on the runners. After all that is where the profit is to be made in my opinion on a system like this.

Posted by deraldmiller

Dax 25 is a very straight forward mechanical trading system that allows the trader to place a order to buy or sell with both stops and limits in place and leave the position in place until end of day. It is called Dax 25 because is uses both a 25 point stop and a 25 point limit. This gives the system a 1:1 Risk to Reward ratio, which along with the positive strike rate is how the system is profitable.   Below outlines the simple steps of knowing which orders to place and in which direction:- Trading Dax 25 Step 1Identify the open price of the Dax index. This is shown on my charts below as white line. This is probably most key part of the system as you need to make sure you have the correct price level.   If you are trading using spreadbetting do not use the price quoted by your SB at the open as this will not only be based on futures prices but most likely will not show the first tick of day on the index which is what we need to determine the actual open price level. Best to use a Dax chart from a metatrader supported data feed.   Step 2 Once you have the open price level. Calculate two new price levels, one at Open Level +25 points and the other Open Level -25points. Thus in essence you have two bands 25 points away from the the open price level. Now you have all 3 price levels you need to trade.   Step 3 Assuming the market is open and you have your price level bands, you now wait for one of the bands to be hit. This usually happens within the first hour of the session so be ready for it.   Once a band has been hit we move to place our orders. If the lower band has been hit we place a buy order at the Open price level and place our limit to close for +25 at the top band and place our stop at the the lower band.   If the upper band has been hit we place a sell order at the Open price level and place out limit to close for +25 at the bottom band and place our stop at the upper band. So the we wait for the price to return to the open level to open a position.   Once in a position do nothing. Leave the orders to play out. There will be quite a few days where your orders don’t get triggered to open a trade, just make sure you cancel them at the end of day or if you have option with your brokers/ SB provider, make sure they are only good for the day and get cancelled automatically.   Also you need to check back at the end of day to make sure that you are not in a position that has not been stopped or limited out. There are only a few days in the sample period where this happened but best to check. Again your initial buy/sell order maybe able to be placed with a close at the end of day instruction but that willdepend on your provider. _______________________________________So that is it. A very straight forward trading method which is easy to trade and which does not require any decision making on when to open/close a position. Below, you can see two actual trades and the trades that were triggered and how they were closed out.   Chart 1 shows a trade that was triggered to buy the open price level with the trade being closed out for 25+ points profit.   Chart 2 shows a trade that was triggered to sell the open price level but which was stopped out for -25.   Chart 1   Chart 2   There are two things I would like to highlight. Firstly is, that as it is a mechanical system any changes you may make to it, like deciding to close a trade early, will effect the outcome of the system as a whole. By all means take the idea and play with it and change it if you wish but the results suggested are based on a trading it as it is above.   Personally, I am currently looking at increasing the limit target to 30pts and also taking a second trade if stopped out. Although I do not have the stats on this at the moment, it might be something you might want to look into.   Secondly, is the old adage of only trade with what you can afford to lose. Despite what some people would like you to believe trading by nature is a game where you are exchanging money for risk. If you do not want to take on the risk do not trade. I have traded in one form or another for the last 6 years and my eyes are wide open to the risks involved. Make sure you are. This system whilst profitable at the moment may not be in the future. There are no guarantees in this game. The reason why I like to trade these mechanical type systems is that they are relatively consistent over a basket of trades but you have to be able to ride out the bad times as well as the goodone. So trading full margined on each trade for example will not result in a happy ending.   I hope I have shown you a simple way to trade and wish you all the best in your trading.

Supertrend indicator is available for both ninjatrader and metatrader trading platforms. It is based around Average True Range calculations.   It’s a very tidy looking trend indicator. Price above the line means buy…price below means sell. As will all trend inidcators there are issues when the markets are in tight ranges, expecially if you are trading intaday.   In these cases you can use it purely as a trend indicator with a secondary indicator as your entry.  

The Chande Momentum Oscillator (CMO) indicator for MetaTrader4 was developed by Tushar Chande and is deployed in measuring “pure momentum.”   The CMO_v1 indicator is quite similar to momentum indicators like the Relative Strength Index, Stochastic and Rate of Change, but its enhanced and exclusive features makes it a convenient tool in the trader’s arsenal.   The sole purpose for the CMO_v1 indicator is in being able to spot overbought and oversold conditions in the market.   The indicator is quite easy to interpret; with its readings held up in a band between -100 and +100, which makes its analysis quite similar to the Relative Strength Index.   As such reading above 50 are considered as being overbought, while values below -50 represents an oversold condition.   As we all know, oversold and overbought conditions tend to pave the way for price reversals, thereby generating entry signals.   There are situations in the market where traders tend to use the CMO_v1 indicator to confirm potential trends.   Traders tend to initiate positions when the CMO_v1 indicator has a high reading and exit such position(s) when the indicator moves below a particular threshold.   If a forex pair’s price action or another technical studies depicts trend, but the CMO_v1 indicator reveals a choppy or sideways market (when the CMO_v1 values range between -25 and 25), it is a signal depicting a lack of momentum.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (Length, Price), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: momentum oscillator, trend

The Volume Rate of Change (VROC) indicator for MetaTrader 4 is a multipurpose technical studies that is built on the standard that key price reversals are usually characterized by heavy volumes, particularly at their troughs and peaks.   More weight or validity is added to the reversal upon confirming change in price with volume.   Example Chart     The VROC indicator rises when the current volume surpasses what it was previously and the VROC indicator is in a decline when the current volume is lower than what it previously was.   This is to say that the VROC indicator spots volume increase that are cited at important peaks or troughs and also during breakouts.   The VROC indicator employs an easy calculation in which the volume of the previous specified periods minus the volume of the current bar, divided by volume n bars ago and multiplied by 100.   The trading indicator comes with a default “PeriodROC” value of 25 and this can be tweaked. For short term outlook, distinctive values should be between 10 -15 bars.   The problem with this value is that sudden peaks are created as a result of sudden price change.   Long term outlook such as those of daily, weekly or monthly time frames should adopt a “PeriodROC” value of 20 and above.   For a more realistic view, I’ll employ chartist to use a 25 – 30 day period; this is because this length of time allows the chart display a smoother and a more rounded view.   Altering the values of the “PeriodROC” in the indicator’s parameter setting can alter the indicator’s sensitivity.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (PeriodROC), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: volume, trend

Posted by sastroacha

I came across a system called Black Dog a while a go.   Naturally, as time has passed the “secret” to the method seems to be out of the hat. Having looked at the Black Dog System site and various forums it has been possible to obtain a template and indicator that look very similar to this system.   Having not bought this Black Dog system myself I can not state if the attached indicators are exactly what is represented in the original system but you can have alook at it and see if there is anything in the indicator/template attached.   (add both to your MT4 platform..please note the template will only load properly if you have the indicators it needs to load)   If you go on to most of the forex forums you will find a few discussions about the Black Dog trading system. I came across a decent thread on ForexFactory which will help you if you want to trade like other Black Dog traders.   Have a play with the indicator and see what you think.

The Mass Index forex indicator for MetaTrader4 was developed by Donald Dorsey and deploys the high-low range to spot reversals in trend in respect to expansions in range.   In this vein, the Mass Index is a volatility technical studies that is devoid of a directional bias.   In its place, it spots range bulges that usually warn of a possible reversal in the current trend.   Basically, the Mass Index does remarkably well at spotting impending change in trend, but cannot tell the direction the trend is changing.   Example Chart     Mass_Index tries to spot “reversal bulges” as described by its creator. When the Mass_Index moves above the 27 level, a bulge kicks in. The signal is not complete on the initial bulge.   The creator of this indicator waits for the bulge to reverse with a move below the 26.50 level.   Upon completing the reversal bulge, chartist are expected to deploy other technical studies to ascertain the direction of the next price move.   The Mass_Index surges as the high-low range widens and dips as the high-low range narrows.   Preferably, a downtrend that is trailed by a reversal bulge would indicate a bullish trend reversal.   On the contrary, an uptrend that is trailed by a reversal bulge is indicative of a bearish trend reversal.   To be able to yield more signals, chartist should deploy other analysis procedures to compliment the Mass_Index indicator.   Volatility can always be measured using standard deviation or other technical indicators like standard deviation, while the reversal bulge function of the Mass_Index can offer a matchless outlook regarding the condition of the market.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (EMAPeriod, SecondPeriod, SumPeriod), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: volatility, trend

I have come across this clever indicator that I have add to the site collection. In short it allows you to superimpose one chart on top of another. So you could overlay a Dax chart with the FTSE or more likely, a USDGBP with GBPEUR. You are also able to inverse the overlayed chart so that you can reverse a Forex Pair. You can also add a moving average to it.   I think it’s quite a good little indicator. Take a Look.

Posted by toyafields

Here is a little additional adjustment to the BB Squeeze indicator for metatrader. I had some arrows coded so you can quickly see when the histogram starts to decline or rise. It is by no means meant to be used as an entry method but I know Carter used a two consecutive bars to exit a position but I find this too slow on the FTSE 100.   One bar could be used as an exit especially for those who like to exit in parts as the position develops. Or I have noticed on some markets (on a very quite look) that the first arrow is often false but the second a better indicator. So you could use the second arrow to exit a trade or enter a trader when you see a red arrow after a blue one when the histogram has been red for a while.  

Posted by marykeating

This is not so much of a review as a helpful hint. Sniper Forex system is a manual system that has been around for a while now and in all fairness has had relative positive reviews. It does not claim to be something it’s not and does not lead you up the garden path..or at least not like some Expert Advisors do.   Sniper forex trading system is a set of indicators combined with various but straight forward rules for entry and exit. It is clear from a visit to the Trade2Win forum and a read of 120 odd pages on the subject that people definitely rate this or at least the principle behind it.   When I asked the members to name something they liked and something they disliked about it, it was met with the response; “I can’t think of anything I like least. The system is as good a system as you are likely to find out there. It is really good at catching the trends, but like any system, the ranging markets are hard on it. Even on ranging, most times the stop outs are at a minimal pip loss“.   And there are plenty of examples of “tests” that suggest that risk to reward ratio is excellent, which if you know me by now, is in my opinion the most important factor to consider in a trading system. So all in all, Sniper Forex would seem like a system to try out.   The good thing about Sniper Forex is that you are able to have a trial demo for free when you visit their site. And this is where things started to get interesting. Purely by accident I notice a similarity between one of the indicators and one I already had on my chart. After adjusting the settings on my chart I noticed it was actually identical.   So I started to have a look at the other indicators and could see by the settings on the indicator that one shared very similar settings with a well know common indicator. So on comparing the two it was clear again that this indicator is a common indicator.   I am also happy to say as of yet I haven’t identified the 3rd (and 4th) indicator but I am sure it won’t be too hard to discover after a little more work. So why am I telling you all this? In all honesty, compared to some system sellers,Sniper forex comes across and pretty good. However, I am not sure I could suggest that you part with nearly $300 for something that is for sure half based on common indicators. Ideally I would rather see something such as Sniper, being sold with free open source indicators and sold as a detail trading method based on those indicators. Rather than making the indicators out to be some secret clever indicators.   That being said…I can’t fault that the indicators look nice when they are displayed in the sniper format but is that really worth the cost? Probably not. I would rather the method with full disclosure of the indicators were sold for $30-$50 or suchlike.   Anyway, below are the indicators I think are common indicators. Take a look yourself. Try the demo and compare and decide for yourself whether you need to pay $300 for the ‘other’ indicators.   Here is a quick chart with the Sniper Forex indicators on.     You will notice the 3 lines than move in tandem with each other. Those are the Sniper’s signal lines. You will see that the middle line is coloured green when the others are coloured blue. This is because this is actually a Hull Moving Average which I added to the chart set to period 30. This matches the Sniper indicator’s middle line perfectly. as for the other two lines I would suggest that they are a Hull moving average applied to the high and to the low, although I have not tried it.   The bottom indicator called Sniper Trend B is basically a Parabolic Sar set to 0.01 and 0.1 in the settings and displayed a a red bar when the price is below it and blue bar when the price is above it. Simple as that.   As for the other indicators, I would need to do some more. For the stop signal one could try something like supertrend or chandelier exit or even another parabolic Sar.   I think the two indicators mentioned above could be enough for someone to base their own trading system on. But I think what this post does show is that when things are displayed differently they often look more appealing. Also when they are advertised as mysterious indicators they seem even more attractive. But in reality, mot much is new in this game anymore. It’s all just repackaged and re-priced stuff from old.   Hope you enjoy the Sniper Forex System if you do buy it and hope you enjoy making your own system if that is the path you choose. Clicking on any of the indicator names will take you to the indicator download page where you can download various versions of these indicators for free.   Here is an ATR Stop indicator that may do the trick for the stop. Have a play with the settings and let me know.   An update on Sniper Forex:-I think I may have cracked the Trend A indicator. I should have noticed it before. Ignoring why the blocks rise and fall it looks like the colour changes on closing bars/periods below or above a moving average.Maybe the Hull moving average. A faster one that the centre line.   Some times it’s one bar out or two but that could just be the difference in the way it was/is calculated or maybe it’s based on a close below the low and high hull moving average.? It may be based on whether the MA it is based on is sloping upwards or downards but would need some more time to look into it. But if you have a play with various Moving averages I am sure you will see how close you can get it to Sniper Forex. You will probably also see how little differences the variation between different indicators matters.

Posted by michaeloliver

The Spearman Rank Corr indicator for MetaTrader 4 was initially implemented from the field of statistics.   In 1904, Charles Spearman was able to design a statistical gauge for the strength of association between two variables, which obviously became the basis of the rank correlation coefficient, and was named after its creator (Spearman’s rank correlation coefficient).   The variable that is used in the calculation is the date, not the price, meaning prices are reflected in relation with their appearance during the session under watch, thereby accumulating a link between these two variables.   Example Chart     The adjustable parameters includes the “rangeN, CalculatedBars, Maxrange and direction.” Although the SpearmanRankCorr indicator has only been available recently, tweaking the values of the variables will allow chartist get best setting.   Short-term traders are advised to adopt short period length i.e. short values for the “rangeN,” while long-term traders are required to adopt long period length i.e. long values for the “rangeN” parameter variable.   The SpearmanRankCorr indicator fluctuate above and below the zero signal level.   When the SpearmanRankCorr indicator is positive, it indicates a positive relationship between surging price and date.   Howbeit, if the SpearmanRankCorr indicator is negative, it indicates a dipping price while the date continues to surge (since it is impossible to find declining dates).   This presents an extreme negative relationship. Interpreting the SpearmanRankCorr indicator is similar to those of other oscillators.   Hence, if the line of the SpearmanRankCorr indicator breaks above the zero line, a buy is considered, while a sell is in place when the line of the SpearmanRankCorr indicator breaks below the zero line.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (rangeN, CalculatedBars, Maxrange direction), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: oscillator, trend

Posted by angelacomes

Further to the artcile on Renko Charts For Ninjatrader I have been on the hunt for some renko chart indicators for metatrader.   They are numbered in no particular order. Some are the actual box charts and some use a line based ATR indicator on top of price.   Version 3 is the one I have used but I haven’t always been able to get it working. First think to understand is that the indicator once installed properly will show historical price action as a very neat trend and you should know that it does not represent how the renko boxes would have looked in real time. This is because metatrader does not store tick data historically.   Here are the installation instructions. (taken from forexfactory)   After placing the script/indicator or EA in the proper folder they need to be compiled. The easiest way to do this is to shutdown then restart MT4 Directions for Installing as a script : Must be done each time you restart mt4: 1. Place the mq4 code in the Experts/scripts directory. 2. Make sure to check the “Allow DLL imports” and “Allow import of external experts” boxes (both of them) are checked. they are under the Saftey section of the Common tab 3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open. Directions for Installing as an Indicator : 1. Place the mq4 code in the Experts/Indicator directory. 2. Make sure to check the “Allow DLL imports” and “Allow import of external experts” boxes (both of them) are checked. they are under the Saftey section of the Common tab 3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.   To install as an EA : 1. Place the mq4 code in the Experts directory. 2. Make sure to check the “Allow DLL imports” and “Allow import of external experts” boxes (both of them) are checked. they are under the Saftey section of the Common tab 3. Also check the “Allow live trading” box in the Live Trading section of the Common tab. Also make sure the Expert Advisors button is depressed in the Gui. When everything is good a smiley face will appear in the upper right hand corner. 4. Drop the ea on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.   To view the Renko Chart : 1. To open offline chart : click File(from menu) >Open Offline and pick the chart you want.

The Fractal Adaptive Moving Average (FRAMA) indicator for MetaTrader4 that was created by John F Ehlers.   The indicator takes advantage of the fractal nature of the financial markets.   A fractal shape can be fragmented or rough and can be divided into segments, each of the segment can be seen to be somewhat similar to a condensed size replica of the original.   Example Chart     The FRAMA indicator averages the differences of the highest highs and lowest lows over varying segments of the length of the period.   The values obtained are mathematically manipulated using the Boolean questions, Euler’s number, natural logarithms, and, along with some pointer from the previous Fractal Adaptive Moving Average, the most recent Fractal Adaptive Moving Average is shaped.   The period length of the Fractal Adaptive Moving Average as well as the price type can be tweaked to reflect the trader’s preference.   The main idea behind the FRAMA is to take into thought just very crucial price changes. If price heads in a particular direction significantly, the FRAMA indicator is able to follow price very tightly.   If price finds itself range bound and doesn’t makes any crucial move, the FRAMA stays flat. The FRAMA essential divides the activity chart smaller groups and then compares these groups one after the other.   This means the activity chart is a cluster of a lot of squares i.e. smaller and larger ones.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart pattern indicator Customization options: Variable (PeriodFRAMA, Price Type), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: trend