MT4 tools

From time to time I make a little tool in somebodys thread - or in my own thread. These tools kind of disappear when the thread gets inactive.

Often the tools are not complete in the thread, because traders are lazy and does not participate in testing and mainly is not providing any response other than download the tool, then why should I complete the tool? But then again I have made some nice and effective tools which has been finished and I am using them myself.

I need a place to gather my works. It will be in this thread. Everytime I am satisfied with a tool in some thread, I will upload it here and link to the thread where it is used.

I don't know at this point, if I will upload all the tools I have made until now. Time will tell. But any new tools will come here.

Note, that I normally do not make tools at request, I only make what is usefull to myself.
Note that using the tools is entirely at your own risk. I cannot garantee that the tool is working without errors. Also you might have misunderstood the way it works.

I never upload the MT4 code.

Tools in this thread by now:
(Number is the post#)

1. 2 RFManualTrade
2. 9 Squeeze
3. 14 Bollinger Momentum
4. 15 ExitRobot

The first tool is the RFManualTrade.

It is a wish from Pusztafie. I normally do not requests, but Pusztafie has contributed so much to FF, so I liked to give her this tool.

It is a simple trade management tool and functions like this.

 

1. Click on the "Line" button. A line will appear on the screen. Move the line to the wanted stop loss for the trade.
2. Click on Long or Short to make the trade. Now 2 trades is made. First has reward 1R and second has 2R.
3. Push Delete on your keyboard to delete the line.

Simple.

You can set the amount of lots in the parameter window. Also the colour of the line to fit your template colours. And you can decide to put the robot in a sub window.

Note this is an Expert, so it goes in the Expert Advisors folder.

Thats it. Hope somebody like it.

[idézet=RiskFighter;15310629]Az első eszköz az RFManualTrade. Pusztafie kívánsága. Általában nem kérek ilyet, de Pusztafie annyit tett hozzá az FF-hez, ezért szerettem volna neki adni ezt az eszközt. Ez egy egyszerű kereskedéskezelő eszköz, és így működik. Kattintson a "Vonal" gombra. Egy vonal jelenik meg a képernyőn. Vigye a vonalat a kívánt stop loss pozícióra a kereskedéshez. Kattintson a Long vagy Short gombra a kereskedés megkezdéséhez. Most 2 kereskedés jött létre. Az első jutalma 1R, a másodiké 2R. Nyomja meg a Delete billentyűt a billentyűzeten a vonal törléséhez. Egyszerű. A paraméterablakban beállíthatja a lotok mennyiségét. A vonal színét is, hogy illeszkedjen a sablon színeihez. És eldöntheti, hogy a robotot egy al-ablakban helyezi el. Megjegyzés: ez egy Expert, tehát az Expert Advisors mappába kerül. Ennyi. Remélem, valakinek tetszik. {file}[/idézet]

It turned out great, thank you!

Hi RiskFighter,

Thank you for creating this thread and for sharing your tools with the community. I really appreciate the time and effort you put into developing them, especially knowing that you're doing this primarily for your own use and not based on requests.

I completely understand your frustration with the lack of feedback in other threads. Hopefully this dedicated thread will help keep your tools more organized and appreciated by those who truly find them useful.

Looking forward to seeing what you post next. If I end up using any of the tools, I’ll make sure to share feedback and results to help improve them further (if needed).
Thanks again and keep up the great work!

Best regards,
[Broker Vietnam]

Thank you. Nice to have a response.

Great idea.

Regarding RFManualTrade.

I just learned, that if the SL line is placed to close to the price, according to the instruments Stops Level, then the entry is executed, but without Stops and Take Profits, that are not allowed by the broker. These must then be added manually.

Note, that you can't even trust the Stops levels shown in the specification table. The broker might have set different levels. Strange, but true.

This often occurs on M1 and M5. However using tight stops on lower timeframes is risky anyway because of the Split, so tight stops is a bad idea.

There is no fix for this right now.

Trading the Squeeze.

EDIT: A wrong indicator was uploaded. The right one is here now at 7. august 12:00 GMT.

Inspiration from MachineLearn and RickM. Squeeze n Go | MTF System | Forex Factory

A squeeze is what happens between the trends. So when ever there is a squeeze, you should be on guard to trade the coming breakout. This tool will help you. It tells when a squeeze occur and when it ends.

The thing is, according to RickM (and in practice), the end of the squeeze might be a bit late entry. Therefore I have alarms for the start of the squeezes too.

The squeeze is easy observed when a Keltner channel goes outside a Bollinger channel. And that is how my tool works.

Keep the parameters in the original setup. They works. Note that you can set if you want alerts on screen (Alarm) and or Iphone.


The colur settings
The first two colours are the Bollinger band. Set them to None if you don't want the band printed.
The next two colours are the Keltner band. Set them to None if you don't want the band printed.
The next four colours are the squeeze. These tells you when a squeeze is present.




Now you need to put on the EMA's as stated by MachineLearn:

EMA Trend Ribbon
EMA 21 (White) – The key trend indicator.
EMA 34 (Yellow)
EMA 55 (Orange)
EMA 89 (Red)

Now please go to the thread for learning the strategy. And please do not comment in my thread with other than likes. I want it to be quite clean and easy to find the tools that I upload over time.

Of cause let me know if there are any problems.

Here is a cherry picked example:

Nothing is shown

Sorry. My fault. Download again.

Any color advices?


I set this way but I had to guess which for every one

See post #9 for the colour settings.

I do not use the Keltner colours. Don't need it. The squeeze bars says it all.

Watch here - from post 143. I am developing a nice concept.
Squeeze n Go | MTF System | Page 11 | Forex Factory

Now it is time to throw in my Bollinger Momentum tool.

Bollinger Bands is a tool with many functions. One of them is telling if a pair is ranging or tranding. If the outer bands are not widening, then the pair is in a range condition. But if the bands ARE widening, then a trend is upcoming or ongoing. As most indicators works either in a trending condition or a range, this Bollinger function is very important. BUT - take a look at the bollinger bands. When are they widening and when are they showing a range is coming? I allways found it difficult to judge those bands. So I made an indicator.

I named the indicator BollingerMomentum. (No I am not giving away the code). It is measuring the average of the bands n bars backwards. You can set that value in the settings. It is named MA_Length. There are 4 colours which give the condition on the last closed bar (n=1):

 

1. DarkGreen: Bollinger Bands are widening compared to the average of the last n bars. A trend is ongoing or might be upcoming.
2. LightGreen: Bollinger Bands are wider than the average of the last n bars. But are not widening any further at this moment.
3. LightRed: The last width of the Bands are now smaller than the width of the average of the last n bars. Ranging should be expected.
4. DarkRed: The last width of the Bands was widening, but it was still more narrow than the average of the last n bars. This is an early warning of a possible trend upcoming and might lead to a DarkGreen colour soon.

The reason that I bring this indicator in play right now is, that I am seeking the ultimate method to exit from the trades that I make on the daily bars. When the colour goes from DarkGreen to LightGreen you should be aware and ready to take profit. Yes, you will often see, that the colour goes back to DarkGreen again. There are no 100% recipie of knowing what will happen at the next bar. If the colour change from Green to Red, then I definately will exit the position right away.

But But - as with all indicators the picture will be different caused by the number of bars that you look back - set by MA_Length. Here is a possibility to experiment.

Note: The indicator is based on Bollinger Bands, so uncertainties is not because of a bad tool, it is because of the Bollinger Bands behavior.

Note!!! Widening of the Bollinger Bands tells you NOTHING about the direction of the trend - up or down. And you can easily experience a continued DarkGreen colour even if the trend is changing. This acknowledge, that the new direction is valid. So DO NOT fall into sleep if the colour is DarkGreen. A change in direction might then cheet you.

And Note! The nature of this tool is not that it gives nice reliable signals. It merely provides times where you should think about the investment you have. Danger might be coming or oppotunities might come. But other indicators shall be your lead and BollingerMomentum a support.

ExitRobot - Version 5

Trailing the exit.

Sometimes it can be handy to let the computer handle the exit of a trade. Then you can do something else or it reacts if you fell asleep in your chair.

!!!!! Be aware: The robot will function correct only if you have ONE position in the instrument. More than ONE position, then you cannot trust it. It was built for only one position per instrument. But you can have the robot active with one position on as many instruments you like at the same time.

There is NO garantee against errors or misunderstanding of functions. You may use this tool - as well as all tools I make, at your own responsibility.

Selectable Functions:

1. EMAExit
   1. Exit when Bar close on the other side of EMA.

2. MACrossExit
   1. Exit when fast EMA crosses Slow EMA.

3. SuperTrendExit
   1. Exit when Supertrend change direction.
   2. The indicator "SUPERTREND.EX4" must be available in the indicator archive.

4. CCIExit
   1. Exit when CCI passes 0 (Zero).

5. Colour Settings
   1. Background will have a colour for your choice in order to easy have the glance of the instruments you posses.
   2. If you do not want this, then set all colours to your preferred background colour.

   
   

You can have any number of functions active at the same time.

This means - let's take CCIExit as an example - if you enter a Long trade, when CCI is BELOW zero, then the robot will exit the trade immidiately. Be aware of that. It is the same with the other functions. Entry before the function is right, then the robot exit the trade right away. Be warned.

Try the robot on demo until you are sure how it works!!!!!!
As usual, let me know about any errors.