Hello Friends!

I am very new to Metatrader platform as well as Windows. Though I have been trading Forex manually since 2007, mostly I used Linux OS and web-based trading manually.  Thus my question regarding Metatrader and EA Studio and FSB Pro…

Can someone advise me how to create specialized price charts in Metatrader?  Mostly I use 3-Line Break, Renko and Heikin Ashi but sometimes also Point and Figure.  Is there a way I can display these charts for Metatrader?  Also, can I use FSB Pro to create a strategy around these price charts?

Please let me know. Thanks so much.

Hello Sunil,

Welcome to the Forum!

Haiken Ashi you can find easily the indicator for free online and place it over the chart.

For Renko, before I used an Expert Advisor that was converting the candlesticks to Renko in Meta Trader.

Nothing comes to my mind for 3-line break and Point and Figure…

Now keep in mind that if you use Expert Advisors from EA Studio and FSB Pro, you do not need to have the indicators over the chart. They are inside the code of the Expert Advisor.

Thanks Van, I’ll try to look for them inside of FSB Pro.

I will advise you to ignore your strategies in manual trading and depend more on the strategies that the generator will show you.

At the beginning when I took the Mega Pack, I spent about a month to automate the trading strategies that I used in manual trading before that. They were showing losses, and I did my best to understand why. One day I just realized that those were not profitable.

The problem is that when we trade manually and we see a couple of profitable trades we start to believe in the strategy, which is very very wrong, and that is why many traders lose in manual trading, or at least they do not profit.

Do not get me wrong, I do not say that your manual strategies do not work, I just share my experience. 🙂

 

Hi Van, thanks so much for your kind advise.  I am very new to using Metatrader and EAs, that is why I am confused, thanks for your kind understanding.

So you mean I can actually generate trading strategies using EA Studio and FSB Pro without entering my parameters?  Can I also export those strategies directly to Metatrader?

Again thanks for guiding me through. 🙂

Hello Sunil,

Glad to see you in the forum. Yes, you can generate strategies with EA Studio and FSB Pro from a scratch.

Once you go over the courses, you will see that you do not need any preset indicators(unless you want them in the strategies).

The most important is to generate the strategies over the Historical data from your broker (I teach that in nearly every course) and to have good and strict acceptance criteria.

Last, you need to have a good system to choose which EAs from Demo to place on Live, and most important how to follow the results on Live, so if you notice that one EA losses edge, you need to remove it immediately from the live account

Hi Petko, thanks so much for the additional tips!  🙂

It took me quite awhile to get used to the softwares along with Metatrader and Windows 10.  Anyway, so glad to say I like it very much.  The more I use and practice with them the more comfortable I become.  Especially the FSB Pro is very interesting.  Looking forward to talking to you soon.  🙂

Hey Sunil,

Welcome to the algo club! 🙂

The software will give you freedom in trading. You will not need developers to automate the EAs, you will not spend money on EAs, you will create them by your self! This is just an awesome experience!

Now, do not hurry to trade with the EAs, practice a lot on Demo, and learn FSB Pro and EA Studio in details. You should know every single function before starting. This way you will use the full capacity of the strategy builders, and this will make your EAs even better.

Hi Sharapova, thanks so much for the kind and warm welcome.  Yes I am very excited about creating and using EAs.  Hopefully I can spend less time in front of the computer and get healthy instead. 🙂

Definitely I am getting better at using the software and will test first on Demo as you and Petko advise.  Thanks again.  🙂

Hey Sunil,

spending less time in front of the screen is essentially important! I know traders that do manual trading for over 12 hours a day, and at the end they profit less than an average salary in their country. What is the point of doing it?

The strategy builders give you not only the freedom in trading with EAs, but freedom in your daily life, which is the best thing for me.