As I already stated, the file I provided compiles correctly, so you should not be getting any compile errors.
Are you sure you’re putting it in the correct folder? It should be in “???/MQL4/Indicators”.
What version and build of MetaTrader are you using? It should be version 4 and the latest build is 1010.
As for learning MQL, unless you have already some good experience in coding in languages like C or C++ or the like, don’t think that you will be able to make EA’s, with just some simple courses. I am a professional Software Developer and I have been giving advice and offering comments on the MQL4 forum for beginner coders, and I will say to you what I say to them - You should first learn coding in general in C, before moving onto MQL4 and it takes many months (even a couple of years), for a complete beginner, to properly learn to code EA’s in MQL. You need time to properly gain the necessary knowledge and coding experience for it. Obviously, if you are serious about it and have the dedication to stick with it, then go for it. But remember that it is a long-term project, and not short term.
One manages a trade in the middle frame and enters, etc., in the lower frame.
QUESTION: I’ve just looked at a potential trade. The ADX in the middle frame says the price is ranging, and the ADX in the lower frame says it’s overbought. Perplexed: Which should I go by, the middle frame ADX where I’m managing the trade, or the lower frame ADX where I execute the trade??
just wondering how are people trading short term trades (20-30 pip initial stop loss) when you have to go sleep? do you get up in the night to check your trade or what?
(from australia)
added: still testing, but i feel 15min charts for trailing stop loss looks good (the swing points are also between 20-30 pips) . so i’m thinking i should get up in the night and trail 15min swing points. but if I used 1h swing points to trail, i might not need to get up, however the swing points seem too far away .
had a bit of a look at my tests and many of the short term trades (20-30 pips) start during business hours london time, so you guys (and girls) are lucky. u get day and evening time to check up on things, and sleep when most trades are finished, seems to me. nice thing though is, at least with 1h stop loss trades (for me produces about 40-60 pips from memory), one can go sleep i reckon and wake up next day if you trail with swing points (just don’t sleep too long ).so that’s really encouraging. might be quite workable actually.
we had a flash crash on pound, yes, one of my nightmares came true…scary stuff. perhaps a short term 20 pip trade wouldn’t get effected too much in future similar circumstances. i don’t know. 20 pips isn’t that far away so it might get triggered fairly early compared to everyone else and the gap wont be as crazy. i don’t know. just a thought. every situation is different though.
and i really recommend (for the newbies) reading captain’s posts, or at least browsing them. you get to see some example duck setups . the data is very old though and you wont have it on 5 min chart but you can look at it on your 15min chart on pc and look at his images (i looked at both together) and get an idea. plus you get to see how he applies moving averages and so on. i find 5min charts have very small stop losses about 13 pips at times and that just doesn’t seem to work. but i noticed in many of captain’s examples he was using the hourly chart for stops so the stop is bigger . that was a bit of an insight for me to see that. glad i went through many of his posts and studied them.
i’m still testing it but i reckon it would work. plus captain posts here so it’s still current. i got positive results in my backtest. just make sure you’re using proper risk management.
the duck’s system only involves 4h/1h/5min charts. that’s what it’s about. it’s not a system for D1 setups. 4h is probably better then daily anyway as there are probably more opportunities i’d think. and whether you really need a weekly to be in harmony with a daily setup (same direction) i don’t know if that is necessary.
Yes it still works,but you have to remember it is not a plug n play strategy,you have to do some work and decide what type of trader you are,short term or mid/longer term.
Fwiw you can trade it from the H1 time frame (assuming it lines up with the 4H) if you also want to add the daily as further confirmation you can do.
why do you say that? it’s good to know why, so i can know what kind of results to expect myself. since early august i’ve done about twenty 4h trades. and sitting on about 0R (no profit or loss) to -3.5R depending on how i look at it (using small test positions). i’m thinking the market was ranging so that’s why. the 4h system i use in an offshoot based on ducks (i like to get in on new highs/ pullbacks with e.g. engulfing rather than 5min breakout). regards shorter faster trades, i’m still testing…
and regards my short term manual backtests, the Risk Reward i got was lower than 4h trend trades. about 0.5R / trade to 0.7R/trade. i hope that is what we’re supposed to get. take profit in those combinations was often around 2R - 3R
Aud.Usd has been a good trending pair to trade recently with your 3 Ducks, 4 hour trend was most defiantly down and no doubt some of you clever Duck Hunters bagged a few pips when all your Ducks lined up for a sell, well done!
Recently the pause button has been hit, over the past 48 hours or so we’ve seen this pair retrace up from the low @ 0.7310 pushing price onto the wrong side of the sma on the 1 hour chart.
What this looks like, currently your 2nd Duck (1 hr chart) is not confirming - basically it’s not in-line with your 1st Duck (4 hr chart) who’s price is below, on the bearish side of its sma (favouring selling trades only).
The next trading opportunity, what needs to happen for us to get all bearish again on Aud.Usd and for the 4 hour down trend to continue? We’d really need to see price get back below support on the 1 hour chart (see above), a breakout that would also get price back on the bearish side of the sma. Will it come? Let’s see!
Potential Profit Target, if you do get short this pair in the coming sessions, the low @ 0.7310 could be used to take some profit at, bag a few pips just before that low.
thanks Captain for your helpful commentary. sometimes i get a ‘like’ from you . i take it that that might mean that i’m saying something that’s correct, or in the right direction, which is helpful to me.
i wonder why u chose the support level (.7310). maybe it’s because there are 2 and not just 1 touches at that level (the recent one in the picture and a distant one in june…). perhaps if the recent one was only there you might not have had a take profit at that level…just exploring…
i’m still testing but my feeling is that squeezing profits from short term duck’s trades is challenging. win rates might be about 0.5R/trade on average at times. I don’t know. didn’t get off to a good start but i’ll keep testing.
Heading towards mid December now so probably wont trade much if at all now until the New Year.
November was a reasonable month 6 wins 7 losses which resulted in + 229 pips overall and a little bit less than 2% account gain.
This also included a quite large loss(154 pips) which was not a 3 Ducks type trade so the month could have been better.
).so that’s really encouraging. might be quite workable actually.
