A Tool that can graphically display data stored in MT4 File

I am not a technically savvy person. I don't even have Excell skills.

MT4 creates data files in Files sub-folder.



Is there any MT4 or Excel tool that can graphically display the data.

For example, I have got this information stored in the attached cv file.

Through this tool, I am trying to track currency strength momentum times.

Will appreciate if the link to the tool is provided.

Thank you.

Hi simnz,
Please can you explain the concept in details?

The idea is to study why and when momentum takes place by way of currency strength.
How the market makers use algos to put life in the market?
If you code a tool which can display all the parameters visually from the data collected then some pattern can be identified.

The database is created by random trade entries triggered by ticks. Ticks are based on the strength of the currency group. Example currency group is GBP. All GBP pair symbols connected with major 7 currencies will drive currency strength of the symbol for trading.

If I define 4 pips each symbol and 4 symbols to combine to trigger trade entry then the trade will be triggered for any of GBP related symbol sected.
For example we select GBPUSD as symbol to trade and 4 pips and 4 symbols as the entry driver, then any 4 of the 7 pairs like gbpjpy, eurgbp, audgbp, nzdgbp, GBPCAD, gbpchf and gbpusd has total of minimum 16 pips of ticks recd will trigger buy trade if going in up direction or a sell trade if going in down direction. If the momentum is strong n being driven by bulls then within minutes TP is achieved. If the momentum is no strong or market is choppy, then both buys and sells will be executed in a matter of 1 or 2 seconds. You can use this random trading strategy only on a platform by a broker who permits hedging in same currency pairs.

The database records the movements of all ticks and gives inputs for analysing the pattern of time when momentum becomes strong or weak or choppy.

A suitable trading strategy can be designed from the inputs provided by the database cv file.

Direction can't be decided by the trader for random trading. It is pure price action.

If you select 4 pips for each symbol and minimim 4 symbols, then each of four symbols when have +4 pips or more then the direction is long and if it is - 4 pips or more then the direction is short.

If you want to guide the entry you can be selective as to direction. In such a case it won't be random trading. It will be guided entry.

Equal weightage is given to each symbol so there is no need to make an index for each of 8 major currency group.

Filters like Moving Average or RSI are not used to assess currency strength. It is simply ticks price action strength that drives momentum. The momentum ride can give 15 TP 30 pips in a matter of minutes. In choppy trading condition, it can create drawdown, so risk management and hedging platform is essential.
Filters like time, direction, maximum open lots, etc can be used to refine EA trading.

I

Thank you for the information about the method. I will have a look at the files.

I have read your method of trading currencies using momentum.

I have few questions please:

1. Instead of stop-loss you take a position at the opposite direction for each pair, am I true? If so, then how do you manage spreads, commissions, and daily swaps?
2. Is the TP a constant value? For instance, 20 pips? Is this amount of TP covers the minor costs (spreads, commissions, ...)?
3. When momentum is strong, movements are higher and spread as well. Even some times, the speed of movements is so high so that we can not trade at the desired entry point because of slippage and the position opens at different price! Does this not affect the result?

Thanks.

Hello Rafei. How are you. Would you like to help here

https://www.forexfactory.com/showthread.php?t=929184

Thank you

Thank you, its a good method. But, risk reward ratio always high at hedging method. I think its like a aggressive trading

Hi, So0,
I replied to the thread.
Thanks.