MetaTrader Global

Interbank FX March Promotions

MetaTrader Global — Tue, 09 Mar 2010 03:59:55 +0000

IBFX is running two promotions for the month of March 2010. The promotions include a $50 deposit for a new account and 10% deposit match. For the $50 bonus promotion, there first must be a $250 deposit made by the client before the $50 bonus will be deposited. For the 10% promotion, there is a minimum deposit amount of $2,000.

Below is an overview of each promotion:

10% Deposit Match

This promotion is available to all existing and new clients
Minimum Deposit amount = $2,000
Client must have an open live trading account – click here to open a live trading account online
Clients must register their trading account with this link: http://www.ibfx.com/Promo/10Percent.aspx?promo=ia
Other terms & conditions apply
Promotion ends March 31, 2010

$50 Incentive Offer

To qualify, customers must have their live account created, approved and deposit a minimum of $250 between Monday, March 1, 2010 and Sunday, March 31, 2010
Only available to new clients (clients who have never had a live account at IBFX)
Click here to open new a live trading account online
Other terms & conditions apply. For more details and to register after opening a new account go to http://www.ibfx.com/Promo/10Percent.aspx?promo=ia
Promotion ends March 28, 2010

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MetaTrader Programming Overview

MetaTrader Global — Mon, 15 Feb 2010 06:48:50 +0000

MetaTrader is one of the most popular trading platform among presently existing. Wide configuration and control possibilities for brokers and a robust programming tool, the integrated MQL language for traders make the system handy and versatile in use.

The MQL integrated programming language is a C++ like language. Its concepts and syntax are familiar which allows the majority of programmers to conserve time resources during the learning phase. It is enough to grasp syntax and basic idea of the MetaTrader trading platform to start programming in MQL language.

By means of MQL language it is possible to create several program types:

Expert Advisors. The main goal for Expert Advisors is to carry trading operations in automatic mode following prescribed rules and by that freeing trader from the routine work. Expert Advisors can use in its work Custom Indicators and Libraries. Back Test Strategy Tester allows you to conduct strategy profitability testing on historical data which shortens development terms dramatically.

Custom Indicators. Classical indicators posses visual constituent as well as internal buffers to be able to be used in Expert Advisors. Non standard approaches are also possible though such as object usage, audio announcement systems and others.

Scripts. In distinction from Custom Indicators and Expert Advisors, Scripts allow you to execute some code once. This is useful for semiautomatic operation execution by trader. For example, open order with definite parameters or set Stop Loss Level for a new value. For each of new scripts it is possible to assign hot key, which makes script usage process fast and practical. Custom Indicators and Expert Advisors execute code only on price change on current currency pair.

Libraries. Repeatedly used functions and code pieces can be grouped into libraries. It is possible to use libraries written in MQL or in any other language. Using interface for linking external libraries provides traders with unlimited possibilities in their ideas implementation.

Applying One Indicator to Another – MetaTrader 5

MetaTrader Global — Thu, 11 Feb 2010 04:17:37 +0000

Let’s consider a task of improving an indicator, which is applied to values of another indicator. In this article we’ll continue to work with True Strength Index (TSI), which was created and considered in the previous article “MQL5: Create Your Own Indicator“.

Custom Indicator Based on Other Indicator’s Values

When writing an indicator that uses the short form of the OnCalculate() function call, you might miss the fact that an indicator can be calculated not only by price data, but also by data of some other indicator (no matter whether it is a built-in or custom one).

Let’s make a simple experiment: attach the built-in RSI indicator with standard settings to a chart, and drag the True_Strength_Index_ver2.mq5 custom indicator to the RSI indicator window. In the Parameters tab of the appeared window specify that the indicator should be applied to Previous Indicator’s Data (RSI(14)).

Continue to read the full article at http://www.mql5.com/en/articles/15

Forex VPS Australia

MetaTrader Global — Thu, 11 Feb 2010 03:56:06 +0000

If you are wanting to use an Expert Advisor but don’t want to leave your computer running or if you have an unreliable internet connection, then a VPS solution is for you.

Advantages of a VPS – Virtual Private Server

- Potential for Lower Latency and Faster Execution – For clients living further from the trading servers or with slow internet connections, VPS solutions offer potentially better connection speeds.

- Remote Access – Clients can log in to their trading platform from anywhere, even if MT4 is not installed on the computer you are using.

- Reliability – Most VPS providers maintain 99.9% up-time, clients can benefit from a more reliable connection throughout the trading sessions.

Visit our Forex VPS Hosting page for packages and to find out more.

MetaTrader Tips – Understanding MetaTrader Charts

MetaTrader Global — Mon, 08 Feb 2010 06:24:07 +0000

The current price shown on an MT4 chart is the bid price. When looking at a price bar or candle, you must add the spread to the high bid price to know what the high ask price would have been, or add the spread to the low bid price to know what the low ask would have been.

If you are in a sell (in at the Bid out at the Ask), you would not see the candle reach your stop loss if you are taken out of the trade. For example with a stop loss of 1.4580 on the EURUSD once the chart reached 1.4578 (2 pip spread) you would be taken out of the trade at 1.4580. Your take profit would not trigger until the ask price hits. For example with a take profit of 1.4540 on the EURUSD once the chart reached 1.4538 (2 pip spread) you would be taken out of the trade at 1.4540. These examples are based on our spread shown under normal market conditions. Our spreads are not fixed and will fluctuate with news or other high / low volume conditions.

If you are in a buy (in at the Ask and out at the Bid), you will see the bid price on the chart.

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Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available.

MetaTrader Tips – Trade Context is Busy Message

MetaTrader Global — Mon, 08 Feb 2010 06:15:40 +0000

You receive the “Trade context is busy” message when you try to process two or more orders at the same time. If you have placed a trade and do not wait until it processes completely and then try to place the same trade or a different trade, the commands go into a loop and you get “Trade context is busy”. The only solution is to close down the platform and restart it.

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Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available.

The BID and the ASK Explained

MetaTrader Global — Mon, 08 Feb 2010 06:11:00 +0000

All Forex quotes have two parts, the BID and the ASK.

The Bid is the price at which you (as the trader) will open a sell. The Ask is the price at which you will open a buy. The difference between the bid and the ask price is known as the spread.

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Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available.

Interbank FX Margin Calls Explained: What Sets IBFX Apart

MetaTrader Global — Mon, 08 Feb 2010 06:05:13 +0000

IBFX Forex margin calls are significantly different than margin calls in other markets. We do not call our clients to warn them their equity has fallen to dangerously low levels. The leveraged nature of Forex trading does not allow time for a traditional margin call.

Accounts trading with 100:1 margin levels are subject to a margin call when the equity in the account is equal to or lower than 50% of the margin posted. Once this unfortunate situation occurs the Interbank FX trader 4 platform closes trades automatically. Trades are closed in order beginning with the largest loss trades are closed until the equity in the account exceeds the 50% threshold.

IBFX ’s margin call policy is in place for the protection of our clients. Margin calls are made with the intent of preventing a client’s account from falling into a negative balance situation. Our margin call policy does not eliminate the potential risk that losses will exceed the amount of the deposit. Margin calls are merely our attempt to prevent such unfortunate situations.

The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses.

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Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available.

IBFX Demo Confirmation

MetaTrader Global — Mon, 25 Jan 2010 07:03:29 +0000

Congratulations!

You now have a Demo Account with Interbank FX! If you have not yet signed up for a demo account please click here.

Click here to download the Interbank FX MetaTrader platform.

Here’s what you do next:

Install Interbank FX Trader 4 by opening MT4.exe and following the installation prompts.
Open the newly installed Interbank FX Trader 4.
Fill out the “Personal details” form that pops up inside Interbank FX Trader 4, then select “Next”.
Select “Next” in the “Trading Servers” window.
Save a copy of the records given to you in the “Registration” window, then select “Finish”.

Interbank FX Crowned Best Foreign Exchange Broker by Shares Magazine

MetaTrader Global — Mon, 25 Jan 2010 06:34:28 +0000

Press Release

For the third year running, Interbank FX (IBFX), a worldwide provider of online off-exchange retail foreign currency (Forex/FX) trading, has been crowned Best Foreign Exchange Broker at the 2009 Shares Awards. This recognition marks the second global award recognition in one week for Interbank FX and serves as a culminating event for the company.

The award was accepted by Interbank FX Chairman and President Todd Crosland at a gala dinner event at the Grosvenor House Hotel in London on Tuesday, November 17. Additional nominees for this award included GFT, FXCM, Alpari, DBfx, FX Pro and ODL.

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“On behalf of the entire Interbank FX team, we are sincerely grateful to be recognized by the Shares community in this capacity,” said Crosland. “This award is a strong testament of our continued effort to ensure Interbank FX is a global leader in Forex trading.”

The annual Shares Awards is now established as a top event and followed closely by financial firms around the globe. Winning an award is particularly valued because they are determined entirely by voting readers of Shares magazine—one of the fastest growing financial titles in the UK. The awards have been designed to find the very best providers across a range of categories including stock broking, derivatives trading, online research, software and fund management.

“I was indeed pleased to see Interbank FX receive the award for Best FX Broker of 2009 at the Shares Awards ceremony,” said Richard Collins, Director of Shares magazine. “Our loyal readers determine who receives the awards, and Interbank FX has clearly earned their votes by providing its customers with the very best levels of service and support- proven by receiving this recognition three years running.”

Throughout 2009, Interbank FX has been recognized by an array of global financial media including:

• Best Trading Platform 2009- ME Forex Awards

• Trader’s Choice Award 2009- FOREXDS

• Best Mobile Forex Trading Platform 2009- World Finance Magazine

• Best Foreign Exchange Broker 2009- Money AM Online Finance Awards

• Best Online Education Provider 2009- Money AM Online Finance Awards

To open an account with IBFX, please select a link below:

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MetaTrader Tips – MetaTrader 4 Hot Keys

MetaTrader Global — Sat, 23 Jan 2010 05:26:28 +0000

Hot keys (accelerating keys) are keys and their combination’s that allow you to execute various commands fast and without the use of menus or toolbars. Here is a lit of some very useful hot keys for the MT4 platform:

Left Arrow — chart scrolling to the left;
Right Arrow — chart scrolling to the right;
Up Arrow — fast chart scrolling to the left or, if the scale is defined, chart scrolling up;
Down Arrow — fast chart scrolling to the right or, if the scale is defined, chart scrolling down;
Page Up — fast chart scrolling to the left;
Page Down — fast chart scrolling to the right;
Home — move the chart to the start point;
End — move the chart to the end point;
“-” — chart zoom out;
“+” — chart zoom in;
Delete — delete all selected graphical objects;
Backspace — delete the latest objects imposed into the chart window;
Esc — close the dialog window;
F8 — call the chart Properties window;
F9 — call the “New Order” window;
F11 — enlarge and minimize the chart window;
Ctrl+B — call the “Objects List” window;
Ctrl+F — enable “Crosshair”;
Ctrl+G — show/hide grid;
Ctrl+I — call the “Indicators List” window;
Ctrl+P — print the chart;
Ctrl+Y— show/hide period separators;
Ctrl+Z — undo an object deletion;

Source: www.alansforexblog.com

MQL4 for Dummies

MetaTrader Global — Thu, 21 Jan 2010 22:25:13 +0000

Development of applications for the MetaTrader 4 Client Terminal requires the knowledge of MQL4. This programming language MetaQuotes Language 4 is a fourth-generation language that has also been developed by MetaQuotes Software Corp. from their own many years experience. MQL4 is the first programming language to consider all niceties of trading on financial markets.

This present textbook will help you create your own Expert Advisors, scripts and indicators and incarnate in them your ideas – your trading algorithms. The textbook is intended for a large number of readers without experience in programming that want to learn how to develop automated trading applications for MetaTrader 4 Client Terminal. The textbook is designed in such a method that to make learning MQL4 as convenient and consequent as possible.

Download the MQL4 for Dummies textbook

Download MQL4 for Dummies Textbook

MetaTrader Global — Thu, 21 Jan 2010 22:19:33 +0000

Below is the link to download MQL4 for Dummies text book.

Download MQL4 for Dummies – 2mb

We hope you find this helpful from the team at MetaTrader global.

MQL5: Create Your Own Indicator – MQL5 Wizard

MetaTrader Global — Tue, 19 Jan 2010 20:54:34 +0000

What is an indicator? It is a set of calculated values that we want to be displayed on the screen in a convenient way. Sets of values are represented in programs as arrays. Thus, creation of an indicator means writing an algorithm that handles some arrays (price arrays) and records results of handling to other arrays (indicator values).

Despite the fact that there are a lot of ready indicators, which have become classics already, the necessity to create one’s own indicators will always exist. Such indicators that we create using our own algorithms are called custom indicators. In this article we will discuss how to create a simple custom indicator.

Indicators Are Different

An indicator can be presented as colored lines or areas, or it can be displayed as special labels pointing at favorable moments for position entering. Also these types can be combined, which gives even more indicator types. We’ll consider creation of an indicator on the example of the well-known True Strength Index developed by William Blau.

True Strength Index

The TSI indicator is based on the double-smoothed momentum to identify trends, as well as oversold/overbought areas. Mathematical explanation of it can be found in Momentum, Direction, and Divergence by William Blau. Here we include only its calculation formula.

TSI(CLOSE,r,s) =100*EMA(EMA(mtm,r),s) / EMA(EMA(|mtm|,r),s)

Continue to read the full article at http://www.mql5.com/en/articles/10

Auto-Generated Documentation for MQL5 Code

MetaTrader Global — Mon, 28 Dec 2009 23:51:26 +0000

Introduction

Most Java coders will be familiar with the auto-generated documentation that can be created with JavaDocs. The idea is to add comments into the code in a semi-structured way that can then be extracted into an easy to navigate help file.

The C++ world also has a number of documentation auto-generators, with Microsoft’s SandCastle and Doxygen being two leaders. I decided to see how well Doxygen could document MQL5, which is in essence a customised subset of C++. To me this is an important step in the maturity of MQL5, because the complexity of the language is easily capable of fostering some quite large class libraries.

The experiment worked very well and I believe the help documentation that Doxygen produces from MQL5 code will add a great deal of value.

Continue reading the full article at http://www.mql5.com/en/articles/12

MetaTrader Tips – Saving Chart Templates

MetaTrader Global — Mon, 07 Dec 2009 16:41:05 +0000

Templates can also be created for charts opened from the Strategy Tester and for charts opened independently.

To create a default template for charts opened from the Strategy Tester, you will need to save a template as “tester.tpl”.

For offline charts, the default template must be “offline.tpl”.

If the “offline.tpl” template is not found when an offline chart is opened, the “default.tpl” template is used. If the “tester.tpl” is not found, the embedded settings are used.

Source: http://articles.mql4.com/189

MetaTrader Tips – Use F12 with Charts

MetaTrader Global — Thu, 26 Nov 2009 02:25:42 +0000

Use F12 to move through a chart bar by bar.

This function can be very useful when you develop and test your own trading strategies. Simply open a chart at the very beginning of the history (press Home) and move through it bar by bar.

Shift+F12 will move through the chart backwards.

Source: http://articles.mql4.com/189

MetaTrader Tips – Chart Templates

MetaTrader Global — Thu, 26 Nov 2009 02:19:42 +0000

By using Chart Templates the chart background, bars colors, indicators and objects can be saved and used on other charts.

To do this, setup any chart as you wish: set colors, superpose objects, attach indicators, etc. Then select the “Charts -> Template -> Save Template…” menu and save the obtained template as default.tpl

Changing the External Parameters of MQL4 Programs without Restarting

MetaTrader Global — Mon, 23 Nov 2009 19:30:18 +0000

Anybody who has ever launched an EA or an indicator for execution, faced the possibility to preliminarily set up external parameters that often underlay the success of the program. There is a possibility to change parameters during the program operation. But how can that be done without initialization? In some cases, this may affect managing the previously opened orders. In this article, we try to solve this problem as flexibly as possible.

Problem Statement

We will consider this problem for Expert Advisors rather than for indicators. For indicators, this problem is not so acute, although the methods are universal and you can apply them to any programs.

In the classical EA writing, the context must be created at every tick. There can be two kinds of contexts – the context of status and trading context. The context of status contains the current states of indicators and other elements underlying the decision making on opening/closing/modifying orders. Trading context contains the information about open orders, their statuses and quantities. After trading context has been analyzed, traders make decisions about what to do with their orders. Contexts are divided by types conditionally. This classification has been introduced for convenience.

To read the full article, please visit: http://articles.mql4.com/724

MetaTrader Tips – Placing Pending Orders Using Charts

MetaTrader Global — Fri, 20 Nov 2009 19:04:42 +0000

When placing orders from charts there is no need to remember which type of pending orders to use.

To place a pending order via a chart just right click with mouse on the desired point in the chart where you would like to place the order and select the “Trading” command in the menu. You will see the types of available pending orders that can be placed.

After you have selected one of the order types, the platform will show the order creation/modification window with partly filled fields. You will then need to specify Stop Loss and/or Take Profit values.

There can be four types of pending orders:

Buy Limit — the current price level is above the value of the order to be placed
Buy Stop — the current price level is below the value of the order to be placed
Sell Limit — the current price level is below the value of the order to be placed
Sell Stop — the current price level is above the value of the order to be placed

Source: http://articles.mql4.com/189