DeMarker
Demarker Technical Indicator is based on the comparison of the period maximum with the previous period maximum. If the current period (bar) maximum is higher, the respective difference between the two will be registered. If the current maximum is lower or equaling the maximum of the previous period, the naught value will be registered. The differences received for N periods are then summarized. The received value is used as the numerator of the DeMarker and will be divided by the same value plus the sum of differences between the price minima of the previous and the current periods (bars). If the current price minimum is greater than that of the previous bar, the naught value will be registered.

When the indicator falls below 30, the bullish price reversal should be expected. When the indicator rises above 70, the bearish price reversal should be expected.

If you use periods of longer duration, when calculating the indicator, you’ll be able to catch the long term market tendency. Indicators based on short periods let you enter the market at the point of the least risk and plan the time of transaction so that it falls in with the major trend.

Calculation:
The value of the DeMarker for the "i" interval is calculated as follows:

The DeMax(i) is calculated:
If high(i) > high(i-1) , then DeMax(i) = high(i)-high(i-1), otherwise DeMax(i) = 0

The DeMin(i) is calculated:
If low(i) < low(i-1), then DeMin(i) = low(i-1)-low(i), otherwise DeMin(i) = 0

The value of the DeMarker is calculated as:
DMark(i) = SMA(DeMax, N)/(SMA(DeMax, N)+SMA(DeMin, N))

Where:
SMA — Simple Moving Average;
N — the number of periods used in the calculation.

READMORE -

Commodity Channel Index
Commodity Channel Index Technical Indicator (CCI) measures the deviation of the commodity price from its average statistical price. High values of the index point out that the price is unusually high being compared with the average one, and low values show that the price is too low. In spite of its name, the Commodity Channel Index can be applied for any financial instrument, and not only for the wares.

There are two basic techniques of using Commodity Channel Index:

Finding the divergences
The divergence appears when the price reaches a new maximum, and Commodity Channel Index can not grow above the previous maximums. This classical divergence is normally followed by the price correction.

As an indicator of overbuying/overselling
Commodity Channel Index usually varies in the range of ±100. Values above +100 inform about overbuying state (and about a probability of correcting decay), and the values below 100 inform about the overselling state (and about a probability of correcting increase).

Calculation
To find a Typical Price. You need to add the HIGH, the LOW, and the CLOSE prices of each bar and then divide the result by 3.

TP = (HIGH + LOW +CLOSE)/3

To calculate the n-period Simple Moving Average of typical prices.

SMA(TP, N) = SUM[TP, N]/N

To subtract the received SMA(TP, N) from Typical Prices.

D = TP — SMA(TP, N)

To calculate the n-period Simple Moving Average of absolute D values.

SMA(D, N) = SUM[D, N]/N

To multiply the received SMA(D, N) by 0,015.

M = SMA(D, N) * 0,015

To divide M by D

CCI = M/D

Where:
SMA — Simple Moving Average;
N — number of periods, used for calculation.

READMORE -

Bulls Power
Everyday trading represents a battle of buyers ("Bulls") pushing prices up and sellers ("Bears") pushing prices down. Depending on what party scores off, the day will end with a price that is higher or lower than that of the previous day. Intermediate results, first of all the highest and lowest price, allow to judge about how the battle was developing during the day.

It is very important to be able to estimate the Bulls Power balance since changes in this balance initially signalize about possible trend reversal. This task can be solved using the Bulls Power oscillator developed by Alexander Elder and and described in his book titled Trading for a Living. Elder based on the following premises when deducing this oscillator:

moving average is a price agreement between sellers and buyers for a certain period of time,

the highest price displays the maximum buyers' power within the day.

On these premises, Elder developed Bulls Power as the difference between the highest price and 13-period exponential moving average (HIGH - EMA).

Application
This indicator is better to use together with a trand indicator (most frequently Moving Average):

if trend indicator is down-directed and the Bulls Power index is above zero, but falling, it is a signal to sell;

it is desirable that, in this case, the divergence of peaks were being formed in the indicator chart.

Calculation
The first stage of this indicator calculation is calculation of the exponential moving average (as a rule, it is recommended to use the 13-period EMA).

BULLS = HIGH - EMA

Where:

BULLS — Bulls Power;

HIGH — the highest price of the current bar;

EMA — exponential moving average..

In the up-trend, HIGH is higher than EMA, so the Bulls Power is above zero and histogram is located above zero line. If HIGH falls under EMA when prices fall, the Bulls Power becomes below zero and its histogram falls under zero line.

READMORE -

Bollinger Bands
Bollinger Bands Technical Indicator (BB) is similar to Envelopes. The only difference is that the bands of Envelopes are plotted a fixed distance (%) away from the moving average, while the Bollinger Bands are plotted a certain number of standard deviations away from it. Standard deviation is a measure of volatility, therefore Bollinger Bands adjust themselves to the market conditions. When the markets become more volatile, the bands widen and they contract during less volatile periods.

Bollinger Bands are usually plotted on the price chart, but they can be also added to the indicator chart (Custom Indicators). Just like in case of the Envelopes, the interpretation of the Bollinger Bands is based on the fact that the prices tend to remain in between the top and the bottom line of the bands. A distinctive feature of the Bollinger Band indicator is its variable width due to the volatility of prices. In periods of considerable price changes (i.e. of high volatility) the bands widen leaving a lot of room to the prices to move in. During standstill periods, or the periods of low volatility the band contracts keeping the prices within their limits.

The following traits are particular to the Bollinger Band:

abrupt changes in prices tend to happen after the band has contracted due to decrease of volatility.

if prices break through the upper band, a continuation of the current trend is to be expected.

if the pikes and hollows outside the band are followed by pikes and hollows inside the band, a reverse of trend may occur.

the price movement that has started from one of the band’s lines usually reaches the opposite one. The last observation is useful for forecasting price guideposts.

Calculation
Bollinger bands are formed by three lines. The middle line (ML) is a usual Moving Average.

ML = SUM [CLOSE, N]/N

The top line, TL, is the same as the middle line a certain number of standard deviations (D) higher than the ML.

TL = ML + (D*StdDev)

The bottom line (BL) is the middle line shifted down by the same number of standard deviations.

BL = ML — (D*StdDev)

Where:
N — is the number of periods used in calculation;
SMA — Simple Moving Average;
StdDev — means Standard Deviation.
StdDev = SQRT(SUM[(CLOSE — SMA(CLOSE, N))^2, N]/N)

It is recommended to use 20-period Simple Moving Average as the middle line, and plot top and bottom lines two standard deviations away from it. Besides, moving averages of less than 10 periods are of little effect.

READMORE -

Bears Power
Everyday trading represents a battle of buyers ("Bulls") pushing prices up and sellers ("Bears") pushing prices down. Depending on what party scores off, the day will end with a price that is higher or lower than that of the previous day. Intermediate results, first of all the highest and lowest price, allow to judge about how the battle was developing during the day.

It is very important to be able to estimate the Bears Power balance since changes in this balance initially signalize about possible trend reversal. This task can be solved using the Bears Power oscillator developed by Alexander Elder and and described in his book titled Trading for a Living. Elder based on the following premises when deducing this oscillator:

moving average is a price agreement between sellers and buyers for a certain period of time,

the lowest price displays the maximum sellers' power within the day.

On these premises, Elder developed Bears Power as the difference between the lowest price and 13-period exponential moving average (LOW - EMA).

Application
This indicator is better to use together with a trand indicator (most frequently Moving Average):

if trend indicator is up-directed and the Bears Power index is below zero, but growing, it is a signal to buy;

it is desirable that, in this case, the divergence of bases were being formed in the indicator chart.

Calculation
The first stage of this indicator calculation is calculation of the exponential moving average (as a rule, it is recommended to use the 13-period EMA).

BEARS = LOW - EMA

Where:

BEARS — Bears Power;

LOW — the lowest price of the current bar;

EMA — exponential moving average.

In the down-trend, LOW is lower than EMA, so the Bears Power is below zero and histogram is located below zero line. If LOW rises above EMA when prices grow, the Bears Power becomes above zero and its histogram rises above zero line.

READMORE -

Awesome Oscillator
Awesome Oscillator Technical Indicator (AO) is a 34-period simple moving average, plotted through the middle points of the bars (H+L)/2, which is subtracted from the 5-period simple moving average, built across the central points of the bars (H+L)/2. It shows us quite clearly what’s happening to the market driving force at the present moment.

Signals to buy
Saucer
This is the only signal to buy that comes when the bar chart is higher than the nought line. One must bear in mind:

the saucer signal is generated when the bar chart reversed its direction from the downward to upward. The second column is lower than the first one and is colored red. The third column is higher than the second and is colored green.

for the saucer signal to be generated the bar chart should have at least three columns.

Keep in mind, that all Awesome Oscillator columns should be over the nought line for the saucer signal to be used.



Nought line crossing
The signal to buy is generated when the bar chart passes from the area of negative values to that of positive. It comes when the bar chart crosses the nought line. As regards this signal:

for this signal to be generated, only two columns are necessary;

the first column is to be below the nought line, the second one is to cross it (transition from a negative value to a positive one);

simultaneous generation of signals to buy and to sell is impossible.

Two pikes
This is the only signal to buy that can be generated when the bar chart values are below the nought line. As regards this signal, please, bear in mind:

the signal is generated, when you have a pike pointing down (the lowest minimum) which is below the nought line and is followed by another down-pointing pike which is somewhat higher (a negative figure with a lesser absolute value, which is therefore closer to the nought line), than the previous down-looking pike.

the bar chart is to be below the nought line between the two pikes. If the bar chart crosses the nought line in the section between the pikes, the signal to buy doesn’t function. However, a different signal to buy will be generated — nought line crossing.

each new pike of the bar chart is to be higher (a negative number of a lesser absolute value that is closer to the nought line) than the previous pike.

if an additional higher pike is formed (that is closer to the nought line) and the bar chart has not crossed the nought line, an additional signal to buy will be generated.

Signals to sell
Awesome Oscillator signals to sell are identical to the signals to buy. The saucer signal is reversed and is below zero. Nought line crossing is on the decrease — the first column of it is over the nought, the second one is under it. The two pikes signal is higher than the nought line and is reversed too.

Calculation
AO is a 34-period simple moving average, plotted through the central points of the bars (H+L)/2, and subtracted from the 5-period simple moving average, graphed across the central points of the bars (H+L)/2.

MEDIAN PRICE = (HIGH+LOW)/2
AO = SMA(MEDIAN PRICE, 5)-SMA(MEDIAN PRICE, 34)

Where:
SMA — Simple Moving Average.

READMORE -

Average True Range
Average True Range Technical Indicator (ATR) is an indicator that shows volatility of the market. It was introduced by Welles Wilder in his book "New concepts in technical trading systems". This indicator has been used as a component of numerous other indicators and trading systems ever since.

Average True Range can often reach a high value at the bottom of the market after a sheer fall in prices occasioned by panic selling. Low values of the indicator are typical for the periods of sideways movement of long duration which happen at the top of the market and during consolidation. Average True Range can be interpreted according to the same principles as other volatility indicators. The principle of forecasting based on this indicator can be worded the following way: the higher the value of the indicator, the higher the probability of a trend change; the lower the indicator’s value, the weaker the trend’s movement is.

Calculation
True Range is the greatest of the following three values:

difference between the current maximum and minimum (high and low);

difference between the previous closing price and the current maximum;

difference between the previous closing price and the current minimum.

The indicator of Average True Range is a moving average of values of the true range.

READMORE -

Average Directional Movement Index
Average Directional Movement Index Technical Indicator (ADX) helps to determine if there is a price trend. It was developed and described in detail by Welles Wilder in his book "New concepts in technical trading systems".

The simplest trading method based on the system of directional movement implies comparison of two direction indicators: the 14-period +DI one and the 14-period -DI. To do this, one either puts the charts of indicators one on top of the other, or +DI is subtracted from -DI. W. Wilder recommends buying when +DI is higher than -DI, and selling when +DI sinks lower than -DI.

To these simple commercial rules Wells Wilder added "a rule of points of extremum". It is used to eliminate false signals and decrease the number of deals. According to the principle of points of extremum, the "point of extremum" is the point when +DI and -DI cross each other. If +DI raises higher than -DI, this point will be the maximum price of the day when they cross. If +DI is lower than -DI, this point will be the minimum price of the day they cross.

The point of extremum is used then as the market entry level. Thus, after the signal to buy (+DI is higher than -DI) one must wait till the price has exceeded the point of extremum, and only then buy. However, if the price fails to exceed the level of the point of extremum, one should retain the short position.

Calculation
ADX = SUM[(+DI-(-DI))/(+DI+(-DI)), N]/N

Where:
N — the number of periods used in the calculation.

READMORE -

Alligator
"Most of the time the market remains stationary. Only for some 15–30% of time the market generates trends, and traders who are not located in the exchange itself derive most of their profits from the trends. My Grandfather used to repeat: "Even a blind chicken will find its corns, if it is always fed at the same time". We call the trade on the trend "a blind chicken market". It took us years, but we have produced an indicator, that lets us always keep our powder dry until we reach the blind chicken market"

Bill Williams

In principle, Alligator Technical Indicator is a combination of Balance Lines (Moving Averages) that use fractal geometry and nonlinear dynamics.

The blue line (Alligator’s Jaw) is the Balance Line for the timeframe that was used to build the chart (13-period Smoothed Moving Average, moved into the future by 8 bars);

The red line (Alligator’s Teeth) is the Balance Line for the value timeframe of one level lower (8-period Smoothed Moving Average, moved by 5 bars into the future);

The green line (Alligator’s Lips) is the Balance Line for the value timeframe, one more level lower (5-period Smoothed Moving Average, moved by 3 bars into the future).

Lips, Teeth and Jaw of the Alligator show the interaction of different time periods. As clear trends can be seen only 15 to 30 per cent of the time, it is essential to follow them and refrain from working on markets that fluctuate only within certain price periods.

When the Jaw, the Teeth and the Lips are closed or intertwined, it means the Alligator is going to sleep or is asleep already. As it sleeps, it gets hungrier and hungrier — the longer it will sleep, the hungrier it will wake up. The first thing it does after it wakes up is to open its mouth and yawn. Then the smell of food comes to its nostrils: flesh of a bull or flesh of a bear, and the Alligator starts to hunt it. Having eaten enough to feel quite full, the Alligator starts to lose the interest to the food/price (Balance Lines join together) — this is the time to fix the profit.

Calculation
MEDIAN PRICE = (HIGH + LOW) / 2
ALLIGATORS JAW = SMMA (MEDEAN PRICE, 13, 8)
ALLIGATORS TEETH = SMMA (MEDEAN PRICE, 8, 5)
ALLIGATORS LIPS = SMMA (MEDEAN PRICE, 5, 3)

where:
MEDIAN PRICE — median price;
HIGH — the highest price of the bar;
LOW — the lowest price of the bar;
SMMA (A, B, C) — smoothed moving average. A parameter is for data to be smoothed, B is the smoothing period, C is shift to future. For example, SMMA (MEDIAN PRICE, 5, 3) means that the smoothed moving average will be calculated on the median price, smoothing period being equal to 5 bars and shift being 3;
ALLIGATORS JAW — Alligator's jaws (blue line);
ALLIGATORS TEETH — Alligator's teeth (red line);
ALLIGATORS LIPS — Alligator's lips (green line).

READMORE -

Accumulation/Distribution (A/D)
Accumulation/Distribution Technical Indicator is determined by the changes in price and volume. The volume acts as a weighting coefficient at the change of price — the higher the coefficient (the volume) is, the greater the contribution of the price change (for this period of time) will be in the value of the indicator.

In fact, this indicator is a variant of the more commonly used indicator On Balance Volume. They are both used to confirm price changes by means of measuring the respective volume of sales.

When the Accumulation/Distribution indicator grows, it means accumulation (buying) of a particular security, as the overwhelming share of the sales volume is related to an upward trend of prices. When the indicator drops, it means distribution (selling) of the security, as most of sales take place during the downward price movement.

Divergences between the Accumulation/Distribution indicator and the price of the security indicate the upcoming change of prices. As a rule, in case of such divergences, the price tendency moves in the direction in which the indicator moves. Thus, if the indicator is growing, and the price of the security is dropping, a turnaround of price should be expected.

Calculation:
A certain share of the daily volume is added to or subtracted from the current accumulated value of the indicator. The nearer the closing price to the maximum price of the day is, the higher the added share will be. The nearer the closing price to the minimum price of the day is, the greater the subtracted share will be. If the closing price is exactly in between the maximum and minimum of the day, the indicator value remains unchanged.

A/D = SUM[((CLOSE — MINIMUM) — (MAXIMUM — CLOSE))*VOLUME/(MAXIMUM — MINIMUM), N]

Where:
N — the quantity of periods used in the calculation.

READMORE -

Acceleration/Deceleration — AC
Acceleration/Deceleration Technical Indicator (AC) measures acceleration and deceleration of the current driving force. This indicator will change direction before any changes in the driving force, which, it its turn, will change its direction before the price. If you realize that Acceleration/Deceleration is a signal of an earlier warning, it gives you evident advantages.

The nought line is basically the spot where the driving force is at balance with the acceleration. If Acceleration/Deceleration is higher than nought, then it is usually easier for the acceleration to continue the upward movement (and vice versa in cases when it is below nought). Unlike in case with Awesome Oscillator, it is not regarded as a signal when the nought line is crossed. The only thing that needs to be done to control the market and make decisions is to watch for changes in color. To save yourself serious reflections, you must remember: you can not buy with the help of Acceleration/Deceleration, when the current column is colored red, and you can not sell, when the current column is colored green.

If you enter the market in the direction of the driving force (the indicator is higher than nought, when buying, or it is lower than nought, when selling), then you need only two green columns to buy (two red columns to sell). If the driving force is directed against the position to be opened (indicator below nought for buying, or higher than nought for selling), a confirmation is needed, hence, an additional column is required. In this case the indicator is to show three red columns over the nought line for a short position and three green columns below the nought line for a long position.

Calculation
AC bar chart is the difference between the value of 5/34 of the driving force bar chart and 5-period simple moving average, taken from that bar chart.

AO = SMA(median price, 5)-SMA(median price, 34)
AC = AO-SMA(AO, 5)

Where:
SMA — Simple Moving Average;
AO — Awesome Oscillator.

READMORE -

Technical Indicators
Technical indicator is a mathematical manipulation of a security price and/or volumes aimed at forecasting of future price changes. Decisions about how and when to open or close positions can be made on basis of signals from technical indicators. According to their functionalities, indicators can be divided into two groups: trend indicators and oscillators. Trend indicators help to assess the price direction and detect the turn moments synchronously or with a delay. Oscillators allow to find the turning moments ahead or synchronously.

Indicators are imposed into the chart from the "Navigator" window by means of Drag`n`Drop technique, by execution of the "Insert — Indicators" menu command, or by pressing of the button of the "Charts" toolbar. A technical indicator can be drawn in a separate indicator window that has a specific vertical scale (for example, MACD) or it can be imposed directly into the price chart (for example, Moving Average). At that, indicators can be drawn not only for price data and derivatives thereof (Median Price, Typical Price, Weighted Close), but also for other indicators. For example, Moving Average for Awesome Oscillator can be drawn, and a signal line can be obtained additionally to AO in this way. To do so, one has to draw AO indicator first, and then, using Drag`n`Drop technique, impose MA into AO and select "Previous Indicator Data" option in its settings in the "Apply to" option. If the "First Indicator Data" option is selected, MA will be drawn on basis of data of the very first imposed indicator that can be other than AO.

Besides analytical parameters, one can set colors for various elements, thickness of lines, and sizes of signs used, at setting up of the indicator. Moreover, the visualization mode of the object for different timeframes can be changed in the "Visualization" tab. At that, indicator will be shown on at timeframes that have been selected. This function can be useful if the tool has different settings for different timeframes. Using the "Show in the Data Window" option in the same tab, one can control over visualization of information about indicators in the "Data Window".

All settings can be changed. To do so, one has to select the desired indicator in the "Indicators List" window and press the "Edit" button or execute the "Properties..." command of the indicator context menu. Indicator context menu can be called by clicking with the right mouse button on a line, sign, or diagram of the desired indicator. To remove an indicator, one has to execute the "Delete Indicator" indicator context menu command or the "Delete Indicator Window" command in the chart or indicator context menus. The "Delete Indicator Window" command closes the indicator window.



Attention: Having placed cursor near a line, a sign, or a column border of an indicator histogram, one can determine precise value of this given indicator in this point.

READMORE -

Line Studies
Line studies are lines and various geometrical shapes that can be imposed into a price or indicator chart. They include support/resistance lines, trend lines, as well as Fibonacci's, Gann's, and Andrews' tools, etc.

Line studies are collected in the "Insert" menu and in the "Line Studies" toolbar in terminal. To impose an object, one has to press the corresponding toolbar button (the buttons are given in the leftmost column of the table) or execute a menu command.



Menu Command Description
Horizontal Line
Horizontal line can be used to mark various levels, particularly, those of support/resistance. One point must be set for this object to be imposed.

Vertical Line
Vertical line can be used to mark various borders in the time axis and to compare signals of indicators to price changes. One point must be set for this object to be imposed.

Trendline
Trendline helps to explore trends in price changes. Two points must be set through which a trendline will be drawn.

Trendline by Angle
Trendline by angle helps to explore trends in price changes. Unlike for a simple trendline, an angle must be set for this line to be drawn. Two points must be set through which a trendline will be drawn.

Linear Regression Channel
Linear regression is a statistical analysis tool used for forecasting of future values on basis of available data. If the trend is ascending, one can logically suppose that the next bar will be a bit higher than the preceding one. The linear regression method allows to have a statistical demonstration of such logical conclusions. Two points must be set for this tool to be drawn.

Equidistant Channel
Lines of the equidistant channel are always parallel. Two points must be set for this tool to be drawn.

Standard Deviation Channel
Standard deviation is the way of volatility measuring based on statistical methods. Standard deviation influences the width of this channel. Two points must be set for this tool to be drawn.

Gann Line
Gann Line represents a trendline drawn at an angle of 45 degrees. Two points must be set for this tool to be drawn.

Gann Fan
Gann Fan represents a set of trendlines drawn from one point at different angles. Gann considered the trendline of 1x1 (45 degrees) for a very important one. If the price curve is above this line, the market should be considered as bull market, if it is below, it is bear market. Gann supposed the ray of 1x1 to be a powerful supporting line at an ascending trend, and breaking of this line — to be an important turn signal. One point must be set for Gann Fan to be drawn.

Gann Grid
Lines of the Gann Grid are drawn at an angle of 45 degrees. Two points must be set for this tool to be drawn.

Fibonacci Retracement
Leonardo Fibonacci is considered to have discovered a number sequence where each successive number represents a sum of two preceding ones: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc. Each number is approximately 1.618 times more than the preceding one, and each number makes approximately 0.618 of the successive one. The tool can be drawn on two points that determine the trendline. At that, horizontal lines that meet the trendline at Fibonacci levels (retracement) as 0.0%, 23.6%, 38.2%, 50%, 61.8%, 100%, 161.8%, 261.8%, and 423.6% are drawn automatically.

Fibonacci Channel
To draw this tool, a channel is used the width of which is taken as one. Then, at the distances defined by the Fibonacci sequence, parallels are drawn starting with the distance of 0.618 of the channel width, then 1.000, 1.618, 2.618, 4.236, etc. Two points and the basic channel width must be set for this tool to be drawn.

Fibonacci Time Zones
Fibonacci Time Zones represent a row of vertical lines placed at Fibonacci intervals from each other: 1, 2, 3, 5, 8, 13, 21, 34, etc. It is considered that significant price changes should be expected near these lines. The tool can be drawn on two points that define the unit interval.

Fibonacci Fan
Fibonacci Fan is drawn on two points that define the trendline. Then an «invisible» vertical line is drawn through the second point. Then three trendlines are drawn from the first point, these trendlines meeting the invisible vertical line at Fibonacci levels of 38.2%, 50%, and 61.8%. It is considered that significant price changes should be expected near these lines.

Fibonacci Arcs
The tool named Fibonacci Arcs is drawn on two points that define the trendline. Then three arcs having the centers in the second point are drawn, these arcs meeting the trendline at Fibonacci levels of 38.2%, 50%, and 61.8%. It is considered that significant price changes should be expected near these arcs.

Fibonacci Expansion
Fibonacci Expansion is drawn on three points that circumscribe two waves. Then three lines meeting the third, "presumptive", wave at Fibonacci levels of 61.8%, 100%, and 161.8%, are drawn. It is considered that significant price changes should be expected near these lines.

Andrews' Pitchfork
This tool is drawn on three points and represents the parallel trendlines. The first trendline starts at the selected leftmost point (it is an important peak or trough) and is drawn precisely between two rightmost points. This line is the pitchfork «helve». Then, the second and the third trendlines outgoing from the above-mentioned rightmost points (significant peak and trough) are drawn in parallel to the first trendline. These lines are the pitchfork «teeth». Andrews' Pitchfork is interpreted as support/resistance lines are normally interpreted.

Cycle Lines
This tool represents a row of vertical lines placed at equal intervals. Normally, a unit interval corresponds with one cycle. At that, completed lines are considered to describe future cycles. The tool is drawn on two points that define the unit interval.

READMORE -

Graphical Objects
Graphical objects are objects in the terminal that are imposed manually into the chart. These objects are used for analytical purposes. They include:

Line Studies — lines and various geometrical shapes to be imposed into the price or indicators charts. They include support/resistance lines, trendlines, as well as Fibonacci, Gann, Andrews' tools, etc. More details about line studies can be found in the section of the same name;

Shapes — geometrical shapes (rectangle, triangle, and ellipse) that allow to mark various areas in the price chart;

Arrows — arrows and signs that allow to mark the most significant points in the chart;

Text — text intended for adding of comments to the chart;

Text Label — text intended for adding of comments and anchored to the chart window coordinates. Text label does not move when the chart is scrolled.

All objects are grouped in the "Insert" menu and in the "Line Studies" toolbar. Having selected an object in the list and set a point in the chart (or in an indicator window), one can impose the tool.

Attention: To impose several objects, one has to set more than one point. The object will not appear in the chart until all necessary points are set.
After the object has been created, it can be moved or modified. To do so, one has to select the object first. If the "Select object by single mouse click" parameter is set in terminal settings, one has to click once with the left mouse button on any element of the object. If not, the double-click should be used. The object can be considered as selected if square markers or frames appear. The markers are intended for moving of objects and changing their drawing parameters. Thus, for example, to change the Fibonacci Fan location, one has to hold its central marker with the left mouse button and move the cursor. And moving of any of the extreme markers will result in changing of the object drawing parameters. Terminal allows to create copies of various object very fast. To do so, one has to select the object and, holding Ctrl pressed, move it with the central marker.

All objects imposed into the chart become unnecessary sooner or later, and they can be removed by commands of the context menu. Besides, the Backspace key allows to remove objects in series. In future, all removed objects can be restored. To do so, it is necessary to execute the "Undo Delete" command of the object context menu, the "Charts — Objects — Undo Delete" menu command, or use accelerating keys of Ctrl+Z.

Object Properties
Every object has its specific properties. Properties can differ depending on the object. To manage the properties of an object, one has to select the object and execute its context menu command of "Properties...", the "Charts — Objects — Objects List" menu command. After that, the window of the object name will appear that contains several tabs. General object settings are placed in the "Common" tab. The following is available here:

Name — the object unique name within one chart that is set for the object automatically. It can be changed if another name is entered in this field. Such names make it easy to mark the object out among many others of the same type;

Description — description/text contents of the object that also serve for marking it out among many others of the same type. Besides, these descriptions can be shown in the chart if the "Show object descriptions" option is enabled in the chart settings;

Style — object lines style. Color, forms and thickness of lines can be chosen here;

Draw object as background — draw object in the background, behind the chart. Being enabled, this option provides filling of the objects like shapes or channels (excluding Fibonacci Channel) with color.

Coordinates of the object control points in the chart can be changed in the "Parameters" tab. Time coordinates of the object control points should be entered in the "Time" fields, and coordinates of anchoring to vertical axis of a chart of indicator should be given in the "Value" fields. An object can have from one to three coordinates. For some objects, additional options are used in the "Parameters" tab:

Angle in degrees — angle of the object slope anticlockwise in degrees;

Scale — ratio between units of vertical (pips) and horizontal (bars) axes of the object. Normally, the number of pixels in a unit of the horizontal axis (time) differs from that of the vertical axis (prices) when chart are drawn. One-to-one scale brings them to the same value. For certain objects, changing of this parameter changes the ratio;

Arrow code — object code;

Ray — show the object trendlines as rays;

Anchor — one of the chart corners at which the text label is anchored;

X-distance: — horizontal distance between the anchor corner of the window and the text label in pixels;

Y-distance: — vertical distance between the anchor corner of the window and the text label in pixels.

The object visualization mode for different timeframes can be changed in the "Visualization" tab. The object will then be shown only for the selected timeframes. This can be useful when the tool has different settings for different timeframes. The "Fibo Levels" tab is specifically used only for Fibonacci tools. The list of the tool levels is given here in form of a table. The values of the levels can be changed or deleted (the "Delete" button). A new level can be added by pressing of the "Add" button. At that, if "(%$)" is entered in the "Description" field, the price value corresponding with this level will be shown in the chart. The "Defaults" button resets the initial values. The "Style" field that allows to set up the color, appearance, and thickness of levels of the object is located in the lower part of the tab.

READMORE -

Analytics
Technical indicators and line studies are built into the terminal for analytical purposes. These objects are imposed directly into the chart and allow to forecast further price changes. At that, indicators are imposed automatically, and line studies are attached manually. This is why, when working with line studies, one has to draw them properly. Parameters of indicators can be set up manually, as well. Technical indicators can have different settings for different symbols or periods.

The use of technical indicators and line studies allows to open and close reasonable trade positions, place and modify pending orders. Moreover, using of analytical means allows to perform systematic trading activities and reduces in that way the influence of human emotions. Along with technical indicators, custom indicators written in MetaQuotes Language 4 (MQL 4) can be used for analytical purposes. No line studies or similar tools can be written in MQL 4.

READMORE -

Templates
A template is a set of chart window parameters that can be applied to other charts. The following can be stored in a template:

chart type and color;

color diagram;

chart scale;

OHLC line shown or hidden;

the attached expert advisor and its parameters;

the imposed custom and technical indicators with their settings;

line studies;

separators of days.

When a template is imposed into a chart, the stored settings, as they are, will be attached to the security and period. For example, one can create a template that includes indicators of MACD, RSI, and Moving Average, and then use it for other charts. In this case, charts windows will have the same view for different symbols and periods.

Templates are stored in the /TEMPLATES directory as TPL files. A template created once can be used unlimited amount of times. A basic template (DEFAULT.TPL) is created during installation of the terminal. It will be applied automatically for creation a new chart window. In future, it can be changed by using of the active chart window properties.

To create a new template, one has to execute the "Charts — Template — Save Template..." menu command, the chart context menu command of the same name, or by pressing of the button of the "Charts" toolbar. As a result, a new template will be created on basis of the data of active chart window. The same actions must be performed to modify a template, but an existing template should be selected instead of entering of a new filename. To impose a template into the chart window, one has to select the desired file in the templates managing menu or in any available folder in the "Open" window that can be called by the "Charts — Template — Load Template..." menu command. The "Charts — Template — Remove Template" menu command and the chart context menu command of the same name allow to delete templates.

Attention: The "DEFAULT.TPL" cannot be removed.
Profiles
Profiles offer a convenient way of working with groups of charts. When a profile opens, each chart with its settings is placed exactly in the same location where it was before, at the profile saving. All changes in all chart windows of the given list are automatically saved in the current profile. The list of all chart windows of the current profile can be found in the "Window" menu. The name of the current profile is displayed in one of the status bar windows and checked in the profile managing menu. When the terminal is installed, the profile by default (DEFAULT) is created. Initially, four basic currency pairs are stored in it: "EUR/USD", "USD/CHF", "GBP/USD", and "USD/JPY".

Profiles are managed from a single menu that can be called by the "File — Profiles" menu commands, by pressing of the button of the "Standard" toolbar, or by clicking with the mouse button on the current profile name in the status bar window. To use another profile, one has to select the desired name from the list in this menu. At that, the new profile will be opened and become the current. The "Save Profile" command saves the current profile in its state by the moment of the beginning of the command execution under a new name. The new profile is a copy of the previous one and becomes the current. One can delete profiles using the "Remove Profile" command.

The "Next Profile" command and Ctrl + F5 open all available profiles one by one, and the "Previous Profile" and accelerating keys of Shift + F5 allow to search profiles in the reverse direction.

Attention: The current profile and that by default (DEFAULT) cannot be deleted.
A pre-defined profile can be assigned to a trade account in the client terminal. This profile must have a name that coincides with the number of the trade account. If there is a corresponding profile when switching to the given trade account, it will be opened automatically. If there is no pre-defined profile, the current profile will remain active.

READMORE -

Deleted Charts
Some charts become useless at some stages of work, and they need to be deleted. This can be done by the "File — Close" menu command or by pressing of accelerating keys of Ctrl+F4. At that, the templates of deleted windows will be stored if "Save deleted charts to reopen" is enabled in the client terminal settings window. These templates can be used in future. So, if a chart has been deleted occasionally, it can be restored. To do so, one has to execute the "File — Open Deleted" menu command and select a symbol from the list. After that, the chart window of the selected symbol will be fully restored with all its settings and objects imposed into it.

READMORE -

Charts Print
There are means to print out charts in the client terminal. A hart can be printed in black-and-white or in color. To print it in color, one has to enable the "Color print" option in the client terminal settings window. After that, the chart will be printed out in color if the printing device allows it. Otherwise, the chart will be printed out in black-and-white format.

The present printing device sometimes needs to be set up. To do so, one has to execute the File — Print Setup..." menu command. To make sure that all desired elements are included into the printing area, one can execute the "Print Preview" command of the same menu, the same command of the chart context menu, or press the button of the "Standard" toolbar. The printing itself will be performed by the "File — Print..." menu command, by the same command of the chart context menu, by pressing of the button of the "Standard" toolbar, or accelerating keys of Ctrl+P.

READMORE -

Chart Management
Charts allow to analyze price changes at the market and are used for graphical analysis, building of various indicators and line studies. Charts are a very valuable instrument for analyzing of financial markets, that is why a great attention is paid to them. Chart management means:

Chart Type
A symbol chart can be of three types:

Bar Chart — the sequence of bars.
To make a chart of this type, one has to press the button of the "Charts" toolbar, accelerating keys of Alt + 1, the corresponding option of the Charts Setup window, or execute the "Charts — Bar Chart" menu command.

Candlesticks — the sequence of candlesticks.
To make a chart of this type, one has to press the button of the "Charts" toolbar, accelerating keys of Alt + 2, the corresponding option of the Charts Setup window, or execute the "Charts — Candlesticks" menu command.

Line Chart — a broken line connecting the bar close prices.
To make a chart of this type, one has to press the button of the "Charts" toolbar, accelerating keys of Alt + 3, the corresponding option of the Charts Setup window, or execute the "Charts — Line Chart" menu command.

Saving
The client terminal allows to save history data of the active chart as a text file in formats of "CSV", "PRN", and "HTM".
To save them in one of these ways, one has to execute the "File— Save As" menu command or press accelerating keys of Ctrl + S. Besides, the chart can be saved as a picture in BMP or GIF format. To do so, one has to execute the "File—Save As Picture..." menu command. The same actions can be performed by the chart context menu command of the same name.

Print
To print the active chart in color, one has to flag "Color print" in the chart settings, then execute the "File — Print..." menu command, the chart context menu command of the same name, press the button of the "Standard" toolbar or accelerating keys of Ctrl+P. If the "Color Print" is disabled, or there is no color printer available, the chart will bee printed as black-and-white.

Full Screen
Execution of the "View — Full Screen" menu command or pressing of F11 will switch the chart to the full screen mode. Only chart windows, main menu and chart switching bar will remain in the display. One can return to the initial mode using the same command.

Attaching of MQL4 Programs
Before MQL4 starts to execute, it must be attached to the chart. To do so, one has to select the desired MQL4 program in the "Navigator" window and double-click on it or execute the "Attach to a chart" command of the context menu. The "Drag'n'Drop" technique can be used, as well.

Working with Indicators
Indicator is a mathematical manipulation with price and/or volumes of a security in order to forecast future price changes. Decisions about how and when to open or close a position are made on basis of signals from technical indicators. Indicators can be imposed into a chart by the "Insert — Indicators" menu commands or those of indicators managing sub-menu that can be opened by pressing of the button of the "Charts" toolbar. The "Drag'n'Drop" technique allows to impose indicators from the "Navigator" window into any open window, as well. The list of indicators imposed into the chart can be viewed in the "Data Window" by executing of the "Charts — Indicators List" menu command, the chart context menu command of the same name, or by pressing accelerating keys of Ctrl+I.

More details about working with technical indicators can be found in the section of the same name.

Working with Objects
To analyze the market, one can impose various graphical objects into the chart. To do it, one has to use the "Insert" menu commands or buttons of the "Line Studies" toolbar. Line Studies, geometrical shapes, signs, and texts, are grouped in the menu.

More details can be found in the "Graphical Objects" section.

Period Change
The client terminal allows to use nine different data periods, from a minute to a month long. This variety of periods is necessary for analyzing the market with technical indicators and line studies.
The desired period of the chart can be chosen with help of the "Period" toolbar, the button of the "Charts" toolbar, the "Charts — Period" menu, or by executing of the chart context menu command.

Zooming
Charts can be zoomed horizontally, increasing or decreasing thereby the amount of bars shown in the screen simultaneously.
To do it, one can use the buttons of / of the "Charts" toolbar, keys of "+"/"-", the commands of "Zoom In"/"Zoom Out" of the chart context menu and of the "Charts" menu.
To zoom out a chart vertically, one can hold any point of vertical axis with the left mouse button and move it down. Double click on vertical axis or pressing of "5" in the keypad restores the scale.
Besides, the chart can be zoomed precisely by defining of upper and lower borders in the Charts Setup window with the "Scale fix" option. The "Scale fix One to One" option of the same window allows to set the "one-to-one", i.e., one pip of vertical axis will correspond with one bar of the horizontal one.

Scrolling, Auto Scrolling, and Shifting of the Chart
Scrolling is moving of price data to the right/left in the chart that can be performed by cursory keys of the keyboard. Besides, the chart can be scrolled with F12 (the "Step by Step" mode — scrolling the chart by one bar to the left) or Shift+F12 (scrolling the chart by one bar to the right), or with the mouse: one moves the cursor to the right/left when holding the left mouse button pressed on any point of the chart. Using the fast navigation box, one can have shown the necessary area of the chart having specified the specific date and time. If the chart has been scrolled to the area where there are no price data, the missing bars will be downloaded automatically.

If the chart scale has been fixed, it can be scrolled vertically, as well. To do so, one has to move the mouse up/down while holding the slider on the vertical scale. To get the chart back into the visibility range, one has to press "5" in the keypad or double-click in the area of the chart price scale.

Auto scroll is intended for users to have the latest bars before their eyes constantly. If this option is enabled, the chart will be automatically scrolled to its end part. This function can be enabled by pressing of the button of the "Charts" toolbar or by the "Charts — Auto Scroll" menu command.

The "Chart Shift" option shifts the latest bar from the right screen border to the chart shift mark. The chart shift mark (a gray triangle in the upper part of the window) can be moved horizontally with the mouse within 10 to 50% of the window size. The chart shift can be enabled by the button of the "Charts" toolbar or by the "Charts — Chart Shift" menu command.

Chart Positioning
Normally, the chart datum point is located in the left part of the window. The specific time bar is anchored to it that can be moved through scrolling or with the use of fast navigation box. When a timeframe is changed, there will be an attempt to calculate the new anchoring bar corresponding with that of the previously used timeframe. I.e., the timeframe that is the nearest to this given point will be shown at the left side of the window. The datum point (a gray triangle at the lower border of the chart) can be moved within the chart window using the mouse. It appears only if the "Auto Scroll" is disabled. This mechanism is convenient when analyzing a certain period of time for different timeframes.

Attention: Positioning does not work if the "Auto Scroll" option is enabled.
Working with Templates
Templates represent the chart window parameters stored in the memory. The following is saved in a template: chart type, period, scale, all settings of line studies, technical and custom indicators, and experts. Templates allow to unify the appearance of many charts easily and fast.
The menu that manages templates can be called by the "Charts — Template" menu command, the chart context menu command of the same name and the button of the "Charts" toolbar. The "Save Template..." menu command allows to store a new template, and that of "Remove Template" — to delete an existing one.
More details can be found in the "Templates and Profiles" section.

Working with Profiles
Profiles represent a convenient way of working with chart groups. At opening of a profile, each chart with all its settings will be found in the same place where it was when the profile was being stored.
The menu that manages profiles can be opened by the "File — Profiles" menu command, by pressing of the button of the "Standard" toolbar, or by clicking with the mouse in the status bar containing the name of the current profile.
More details can be found in the "Templates and Profiles" section.

Data Updating
Data must be updated if any errors or "holes" occur in the price chart. In order to update the price data, one has to execute the "Charts — Refresh" menu command or the chart context menu command of the same name. After all these actions have been performed, the missing bars will be downloaded from the server automatically and drawn in the chart.




Use of Mouse
The chart is directly managed with the mouse as follows:

clicking with the left mouse button on any point in the chart window and holding of it with the subsequent horizontal moving of the cursor result in the chart scrolling;

clicking with the left mouse button on the chart vertical scale and holding of it with the subsequent vertical moving of the cursor result in vertical chart scaling, and the double click with the mouse on the chart vertical scale will rescale the chart;

clicking with the left mouse button on the chart horizontal scale (but not the fast navigation box) and holding of it with the subsequent horizontal moving of the cursor will result in the chart rescaling;

clicking with the right mouse button on any point in the chart window results in calling of the chart context menu (described below);

double-clicking with the left mouse button on elements of technical indicators (lines, signs, histogram bars, etc.) calls the setup window of the corresponding indicator;

clicking with the right mouse button on elements of a technical indicator calls the context menu of the indicator;

single or double, depending on the terminal settings, clicking with the left mouse button on an object (line studies, texts or arrows) will select the object;

clicking with the left mouse button on the selected object and holding of it with the subsequent moving allows to move the selected object;

Ctrl + clicking with the left mouse button on a selected trend line with the subsequent moving allows to draw a parallel trend line (create a channel);

clicking with the middle mouse button in the chart window switches cursor to the "crosshair" mode;

clicking with the right mouse button on a selected object will open its context menu;

placing of cursor on the bar close price or on an element of an object or indicator will call the prompt.




Chart Management with Context Menu Commands
Some commands of the context menu are intended for chart management:

Expert Advisors — sub-menu that manages expert advisors. Expert advisor is an MQL4 program that is executed with every new tick and allows to automate analytical and trading activities. Commands that manage the expert imposed into the chart are grouped in this menu, too. Using this sub-menu, one can change the expert properties, remove it, or start testing it.
More details are given in the "Expert Advisors" section.

Remove Script — remove an executable script. Script is a program written in MetaQuotes Language 4 (MQL 4) and intended for a single performing of some actions.

Indicators List — window that manages technical indicators attached to the chart window. Technical indicator is a mathematical manipulation of the symbol price and/or volumes in order to forecast future price changes. On signals received from technical indicators, decisions are made about how and when to open or close a position.

Objects List — window that manages graphical objects. Graphical objects are those objects in the terminal that are imposed manually. They are intended for analytical purposes.

Periodicity — sub-menu that manages the chart periods.
Periods of charts can also be managed by the "Charts" menu and toolbar commands of the corresponding names.

Template — sub-menu that manages templates. Template is a set of chart window parameters that can be used for other charts.
This sub-menu can also be called by the "Chart" menu command of the same name.

Refresh — refresh history data. At that, all data missing within the available history and new ones will be downloaded.
The same action can be performed by the "Charts" menu command of the same name.

Auto Arrange — set the height of all indicators windows as default.
The same action can be performed by pressing of accelerating keys of Ctrl+A.

Grid — show/hide grid.
The same action can be performed by the "Charts" menu command of the same name or by pressing of accelerating keys of Ctrl+G.

Volumes — show/hide volumes chart.
The same actions can be performed by the "Charts" menu command of the same name or by pressing of accelerating keys of Ctrl+L.

Zoom In — zoom in the chart horizontally by one step.
The chart can also be zoomed in by the "Charts" menu command of the same name, by pressing of "+" or the button of the "Charts" toolbar.

Zoom Out — zoom out the chart by one step.
The chart can also be zoomed out by the "Charts" menu command of the same name, by pressing of "-" or the button of the "Charts" toolbar.

Delete Indicator Window — delete indicator window from the chart. Some indicators are drawn in special sub-windows and have their own scaling. This command allows to delete such a sub-window.
More details about working with technical indicators can be found in the corresponding section.

Save As Picture — save the chart as a picture (GIF or BMP).
The same action can be performed by the "File — Save As Picture..." menu command.

Print Preview — preview the chart image before printing.
The same action can be performed by the "File — Print Preview" menu command or by pressing of the button of the "Standard" toolbar.

Print... — print the chart. If the "Color print" option is checked in the program settings, chart can be printed in color.
The same action can be performed by the "File — Print..." menu command, accelerating keys of Ctrl+P, or the button of the "Standard" toolbar.

Properties... — call the charts setup window.
The same action can be performed by pressing of F8.

Attention: The "Expert Advisors" sub-menu, as well as the commands of "Remove Script", "Indicators List", and "Objects List" are activated only if the corresponding objects have been imposed into the chart.

READMORE -

Chart Setup
Appearance and properties of each chart in the terminal can be set up individually. To do so, one has to execute the "Charts — Properties..." menu command, the chart context menu command of the same name, or press F8. These actions result in appearing of the "Properties" window that can be used for setting of the color of various elements of the chart (the "Colors") tab:

Background — chart background color;

Foreground — color of axes, scales, OHLC line;

Grid — chart grid color;

Bar Up — bar up, shades and fringing of the Bull Candle body;

Bar Down — bar down, shades and fringing of the Bear Candle body;

Bull candle — color of the Bull Candle body;

Bear candle — color of the Bear Candle body;

Line graph — line chart and doji;

Volumes — volumes and levels of open positions;

Ask line — color of the Ask line;

Stop levels — levels of stop orders (Stop Loss and Take Profit).

The changes made are automatically shown in the left part of the window in the preview chart. Except for manual setting of various color elements of the chart, one can choose pre-defined color diagrams in the field of the same name. There are three color diagrams available in the terminal: "Yellow on Black", "Green on Black", and "Black on White". After a color diagram has been chosen, the chart elements described above will change in the chart in the left part of the window. Custom color diagrams can be stored in templates.

Other chart settings can be defined in this window, as well. To do so, one has to switch to the "Common" tab and select the desired options:

Offline chart — turn the chart offline. This option stops receiving and drawing of price data for the given chart. In future, after this option is disabled, price data will be drawn in the chart again. After the chart has been opened offline, (the "File — Open offline" menu command), this option will be enabled automatically.

Chart on foreground — place the chart in the "foreground". If this function is enabled, all analytical objects will be placed "under" the price chart.
This command is the same as that of "Charts — Foreground chart".

Chart shift — shift the chart from the right border of the window to the shift mark. The chart shift mark (a gray triangle in the upper part of the window) can be moved with the mouse horizontally within 10 to 50% of the window size.
This option can also be enabled with the button of the "Charts" toolbar or by the "Charts — Chart Shift" menu command.

Chart autoscroll — allow/forbid to shift the chart to the left automatically after the new bar has started to form. If this option is enabled, the latest bar will always be shown in the chart.
This option can also be enabled by the button of the "Charts" toolbar and by the "Charts — Auto Scroll" menu command.

Scale fix One to One — fix the chart scale as "one to one" (the size of one pip of the vertical axis in pixels is equal to the distance between the bars axes in pixels). At that, the "Scale fix" option will be enabled automatically, and a scroll bar will appear at the right side of the window that allows to move the chart vertically. This mode is necessary for precise constructions.

Scale fix — fix the current chart scale. If the scale has not been fixed, the chart will be automatically scaled vertically. This option disables automatic scaling and fixes the current scale. When this option is selected, the fields of additional scaling parameters "Fixed maximum" and "Fixed minimum" are activated.

Bar chart — display the chart as a sequence of bars.
This action can also be performed with the button of the "Charts" toolbar, by the "Charts — Bar Chart" menu command or by pressing of accelerating keys of Alt+1.

Candlesticks — display the chart as a sequence of candlesticks.
This action can also be performed with the button of the "Charts" toolbar, by the "Charts — Candlesticks" menu command, or by pressing of accelerating keys of Alt+2.

Line chart — display the chart as a broken line that connects the points of bar close prices.
This action can also be performed by the button of the "Charts" toolbar, by the "Charts — Line Chart" menu command, or by pressing of accelerating keys of Alt+3.

Show OHLC — show/hide OHLC line. If this action is done, an additional data line will appear in the upper left part of the window. Except for symbol name and chart period, the latest bar prices are listed in it. Price are recorded in the following format: OPEN, HIGH, LOW and CLOSE (OHLC) — bar open price, the highest bar price, the lowest bar price, and bar close price, respectively. Thus, precise value of the latest bar can always be seen. This option influences the data line of sub-windows of indicators, as well.

Show Ask line — show/hide Ask price level of the latest quote. Bars are drawn and shown only on Bid prices in the terminal. However, at opening of long positions and closing of the short ones, the Ask price is always used. It is not shown in the chart in any way, so it cannot be seen. To control one's trading activities more precisely, one can enable the "Show Ask line" parameter. After this command has been executed, an additional horizontal line will appear in the chart that correspond with the Ask line of the latest bar.

Show period separators — show/hide period separators. Date and time of each bar are displayed on the horizontal axis of the chart. And this horizontal scale interval is the selected timeframe. The "Show period separators" option draws additional vertical lines in the chart that correspond with the larger period (timeframe) borders. So, daily separators will be drawn for charts with periods of M1 to H1, weekly ones — for H4, monthly ones — for D1, and yearly ones — for W1 and MN1.

Show grid — show/hide grid in the chart window.
The same actions can be performed by the chart context menu and "Charts" menu command of the same name, as well as by pressing of accelerating keys of Ctrl+G.

Show volumes — show/hide the volume chart in the lower part of the window. This option does not function when the scale is fixed.
The same actions can be performed by the chart context menu and "Charts" menu command of the same name, as well as by pressing of accelerating keys of Ctrl+L.

Show object descriptions — show/hide object descriptions in the chart. If this option is enabled and there are descriptions of objects imposed into the chart available, they will be shown directly in the chart.

READMORE -

Chart Opening
A chart shows the price changes for a security with the time. Charts are necessary for performing of technical analysis, working of expert advisors and testing thereof. Up to ninety-nine charts can be opened in the terminal at the same time.

A new chart can be opened by executing of the "File — New Chart" menu, "Window — New Window" menu command, or by pressing of the button of the "Standard" toolbar. The list of securities available will appear at performing of any of the above actions. Having selected the necessary symbol from this list, one can open its chart. New charts can also be opened from the "Market Watch" window, holding Ctrl and dragging the element of the list (the symbol) from the window into any point of the workspace of the terminal, or having executed the "Chart Window" command of the context menu. All new charts are opened with the DEFAULT.TPL template created during the terminal installation. This template cannot be deleted, but it can be modified.

History data used for drawing of charts are stored on the hard disk. At opening of a chart, the data are downloaded from the disk and the last missing data are spooled from the trading server. If there are no history data for the symbol on the hard disk, the latest 512 bars of history will be downloaded. To spool the earlier data, one has to move the chart to the desired area. After the chart has been opened, information about the current quotes starts to income to the terminal. Thus, the further price changes will be shown in the real-time mode. This information will be stored in the history file and used at the reopening of this chart in future.

Attention: The "Max. bars in history" and "Max. bars in chart" parameters are defined in the terminal settings. These parameters allow to control over the amount of history data displayed and stored on the hard disk.
Offline Charts
Client terminal allows to work with offline charts. These charts are opened on basis of data saved on the hard disk in HST format. They are not updated from the server. These charts turn out as very useful for working with non-standard securities or periods.

To open a new chart in offline mode, one has to execute the "File — Open Offline" menu command. Then, a symbol must be selected in the window that appears, and the "Open" button must be pressed. The OFFLINE.TPL template is applied to the chart automatically. At that, the "(offline)" inscription will appear added in the heading of the offline chart.

At testing of an expert, the data file in FXT format is created and used. It differs from a standard chart, but it can be opened offline.

READMORE -

Fast Navigation
There are various methods used in the Client Terminal to accelerate working. The following can be used for this purpose:

fast navigation box — a small box that appears in the lower left corner of the chart and allows to manage it;

accelerating (hot) keys — key combinations that are intended for acceleration of working with various functions of the program.



Fast Navigation Box
The fast navigation box is used for quick switching among charts and/or among chart periods, as well as for quick scrolling of the chart to the selected date. The fast navigation box of the active chart can be opened with the Enter key, then the fast navigation box will appear in the lower left part of the chart window. One can also move the cursor to the lower left part of the chart window and double-click the left mouse button after the icon has appeared.




Format of commands in the fast navigation box:

1. [time (hours:minutes)] example: 08:30; 8:30;
2. [date] example: 2004.10.16; 16.10.2004; 16.10.04;
3. [date and time] example: 2004.10.16 8:30; 16.10.2004 8:30; 16.10.04 8:30;
4. [symbol] example: GBPUSD; EURUSD;
5. [chart period] example: M1; M5; M15; M30; H1; H4; D1; W1; MN;
6. [symbol], [chart period] example: GBPUSD, M30; EURUSD, D1;

Attention: It must be noted that only one of the above-listed commands can be executed in the fast navigation box.
To execute a command, one has to press the Enter key, and the Esc key - to close the box. To move the chart to a specific date and time, one has to input this date and time. For example, the command that allows to move to the bar received at 8:30 on October, 16 2004, will appear as "2004.10.16 08:30". Along with YYYY.MM.DD and DD.MM.YYYY formats, one can also use the DD.MM.YY format, but not the YY.MM.DD. The first zero in the time inputting can be skipped. For example, one can write "8:30" instead of "08:30". When changing a symbol, one should specify its full name. When specifying the chart period, one may skip the "M". At the "GBPUSD 30" command, as well as at the "GBPUSD M30", the symbol and period will respectively change for a 30-minutes chart of Great Britain Pound vs US Dollar.




Hot Keys
Hot keys (accelerating keys) are keys and their combinations that allow to execute various commands fast and without using of menus or toolbars.

"ï" — chart scrolling to the left;

"ð" — chart scrolling to the right;

"ñ" — fast chart scrolling to the left or, if the scale is defined, chart scrolling up;

"ò" fast chart scrolling to the right or, if the scale is defined, chart scrolling down;

Numpad 5 — restoring of automatic chart vertical scale after its being changed. If the scale was defined, this hot key will return the chart into the visible range;

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;

Enter — open/close fast navigation window;

Esc — close the dialog window;

F1 — open this "Userguide";

F2 — open the "History Center" window;

F3 — open the "Global Variables" window;

F4 — download MetaEditor;

F6 — call the "Tester" window for testing the expert attached to the chart window;

F7 — call the properties window of the expert attached to their chart window in order to change settings;

F8 — call the chart setup window;

F9 — call the "New Order" window;

F10 — open the "Popup prices" window;

F11 — enable/disable the full screen mode;

F12 — move the chart by one bar to the left;



Shift+F12 — move the chart by one bar to the right;

Shift+F5 — switch to the previous profile;



Alt+1 — display the chart as a sequence of bars (transform into bar chart);

Alt+2 — display the chart as a sequence of candlesticks (transform into candlesticks);

Alt+3 — display the chart as a broken line (transform into line chart);

Alt+A — copy all test/optimization results into the clipboard;

Alt+W — call the chart managing window;

Alt+F4 — close the client terminal;

Alt+Backspace or Ctrl+Z — undo object deletion;



Ctrl+A — arrange all indicator windows heights by default;

Ctrl+B — call the "Objects List" window;

Ctrl+C or Ctrl+Insert — copy to the clipboard;

Ctrl+E — enable/disable expert advisor;

Ctrl+F — enable "Crosshair";

Ctrl+G — show/hide grid;

Ctrl+H — show/hide OHLC line;

Ctrl+I — call the "Indicators List" window;

Ctrl+L — show/hide volumes;

Ctrl+P — print the chart;

Ctrl+S — save the chart in a file having extensions: "CSV", "PRN", "HTM";

Ctrl+W or Ctrl+F4 — close the chart window;

Ctrl+Y— show/hide period separators;

Ctrl+Z or Alt+Backspace — undo the object deletion;

Ctrl+D — open/close the "Data Window";

Ctrl+M — open/close the "Market Watch" window;

Ctrl+N — open/close the "Navigator" window;

Ctrl+O — open the "Setup" window;

Ctrl+R — open/close the "Tester" window;

Ctrl+T — open/close the "Terminal" window;

Ctrl+F5 — switch to the next profile;

Ctrl+F6 — activate the next chart window;

Ctrl+F9 — open the "Terminal — Trade" window and switch the focus into it. After this, the trading activities can be managed with keyboard.

There is a feature allowing to defined hot keys for calling any element of the "Navigator" window, except for those of the "Accounts" group. To define a combination of keys to an element, one has to execute the "Define a hot key" command of its context menu. The defined hot keys are of higher priority being compared to those pre-defined. For example, Ctrl+O combination meant initially the calling of the Terminal setup window. If one defines calling of the On Balance Volume indicator for the same combination, it will not be possible to call the terminal setup window by pressing of Ctrl+O.

READMORE -

Optimization Graph
Unlike testing, optimization is supposed to use many repeated passes of mechanical trading system (MTS) with different input parameters. This is performed to determine such expert parameters at which its profitability is the highest. To perform optimization, one has to flag the field of the same name in the Settings tab and press the "Start" button. After that, two new tabs, "Optimization Results" and "Optimization Graph", will appear in the window.

The profit graph of all passes will be drawn automatically in the "Optimization Graph" tab. The graph allows to estimate and visualize the profitability of us of different combinations of inputs. A chart representing the amount of profit (green) and loss (red) trades of each pass is given in the lower part of the graph, as well.

Double click with the left mouse button on any point of the graph switches to the "Results" tab and selects the corresponding pass. Using the "Copy" context menu command or accelerating keys of Ctrl+C, one can copy the graph to the clipboard for further use in other applications. The graph can also be stored as a GIF file on the hard disk. To do so, one has to execute the "Save as Picture" context menu command or press accelerating keys of Ctrl+S.

More details can be found in the sections of "Testing of Expert Advisors" and "Optimization".

READMORE -

Optimization Results
Unlike testing, optimization is supposed to perform many passes for mechanical trading system (MTS) with different inputs. This is done to determine the expert parameters with which its profitability is the highest. To optimize, one has to flag the "Optimization" field in the tab of tester setup and press the "Start" button. After that, two new tabs will appear in the window: "Optimization Results" and "Optimization Graph".

The "Optimization Results" tab, unlike Tester Report, publishes not the entire list of trades, but final reports of each pass. All data are represented in the table with the following fields:

Pass — the pass number;

Profit — net profit (gross profit minus gross loss);

Total trades — the total amount of open trade positions;

Profit factor — the ratio between total profit and total loss in per cents. One means that total profit is equal to total loss;

Expected Payoff — mathematical expectation of win. This statistically calculable figure shows average profitability/unprofitableness of one trade. It is considered to show the estimate profitability/unprofitableness of the next trade;

Drawdown $ — maximum drawdown relating to the initial deposit in the deposit currency;

Drawdown % — maximum drawdown relating to the initial deposit in per cents;

Inputs — dynamic values of inputs at each pass.

After having clicked with the left mouse button on the heading of any column, one can sort all entries of the table in decreasing or increasing order. Data of the selected pass will be entered as basic inputs of the expert (expert properties window, the "Inputs" tab) after the "Set Input Parameters" context menu command has been executed. At that, the program switches to the "Settings" tab, and optimization mode will be stopped. Having pressed the "Start" button, one can test the expert advisor having the pre-defined input parameters and variables. The same action can be done by a double click with the left mouse button on the pass line in the tab of optimization results. Using the "Copy" context menu command or accelerating keys of Ctrl+C, one can copy the selected results to the clipboard for further use in other applications. If no line has been selected, the entire table will be copied to the clipboard. The "Copy All" command can be used to copy the entire table to the clipboard, as well. The report of the optimization results can also be stored in HTML format on the hard disk. To do so, one has to execute the "Save as Report" context menu command. Other context menu commands allow to set up displaying of results:

Skip Useless Results — show/hide the results of loss passes;

Show Input Parameters — show/hide the "Inputs" column;

Auto Arrange — automatic setting of column sizes when the window size changes.
The same action can be done by pressing of A;

Grid — show/hide grid to separate columns.
The same action can be done by pressing of G.

More details are given in the sections of "Testing of Expert Advisors" and "Optimization".

READMORE -

Journal Tab
Messages about the expert testing process, including all trade operations, are published in the "Journal" tab automatically. This journal is rather similar to that of the "Terminal — Expert Advisors" window, except for that messages informing about expert testing, but not its working at the market , are published in this Tester Journal. After the expert has been tested, these data will be output in the separate /TESTER/LOGS directory. The tester journal files are stored in the /EXPERTS/LOGS directory, filenames being correspondent with the date of logs — YYYYMMDD.LOG. To view the stored logs, one has to execute the "Open" contest menu command and select a necessary file. To copy the message to the clipboard, one has to execute the context menu command of the same name. The "Delete All" command allows to delete all the logs from the directory and cleans this tab. This can be useful to clean the hard disk of too many files.

More details can be found in the sections of "Testing of Expert Advisors" and "Optimization".

READMORE -

Report Tab
The summarized results of experts testing and some key indices are represented in the "Report" tab. Such reports allow to compare different experts to each other in a quick mode. The following data are published in reports:

Bars in test — the amount of the modeled history data in bars;

Ticks modeled — the amount of the modeled ticks;

Modeling quality — the quality of ticks modeled during testing in per cents. Modeling is schematically displayed as a band in the next line of the report. This band can be of one of three colors:

Grey — this part of the data available was not tested at all. Grey color can appear, if the range of dates was given in tester settings;

Red — modeling was not performed within this subrange since no data of a smaller period were available. At that, only data from the period selected in the tester settings were used;

Green — modeling was performed within this subrange. At that, the brighter the color is, the better in quality the modeling was. For example, when testing at the period of H1, the dark-green band can mean that M30-period data were used for testing, and the brightest means that those of M1 period were used;

Attention: If the fastest method ("by open prices") has been used for modeling in testing settings, the entire band will be red. At that, "n/a" — modeling has not been performed at all — will be written in the "Modelling quality" field;
Initial deposit — the volume of the initial deposit;

Total net profit — financial result of all trades. This index represents a difference between the "Gross profit" and "Gross loss";

Gross profit — the sum of all profitable trades in terms of money;

Gross loss — the sum of all unprofitable trades in terms of money;

Profit factor — the ratio between gross profit and gross loss in per cents. The one value means that profit equals to loss;

Expected payoff — the expected payoff. This statistically calculated index represents the average profit/loss factor of a trade. It can also be considered for representing the expected profit/loss factor of the next trade;

Absolute drawdown — the largest loss is lower than the initial deposit value;

Maximal drawdown (%) — maximal loss of the local maximum in the deposit currency and in percents of the deposit;

Total trades — the total amount of trade positions;

Short positions (won %) — the amount of short positions and percentage of won thereof;

Long positions (won %) — the amount of long positions and percentage of won thereof;

Profit trades (% of total) — the amount of profitable trade positions and their percentage in the total trades;

Loss trades (% of total) — the amount of profitable trade positions and their percentage in the total trades;

Largest profit trade — the largest profit among all profitable positions;

Largest loss trade — the largest loss among all unprofitable positions;

Average profit trade — average profit value for a trade (the sum of profits divided by the amount of profitable trades);

Average loss trade — average loss value for a trade (the sum of losses divided by the amount of unprofitable trades);

Maximum consecutive wins (profit in money) — the longest series of profitable trade positions and the sum of their wins;

Maximum consecutive losses (loss in money) — the longest series of unprofitable trade positions and the sum of their losses;

Maximal consecutive profit (count of wins) — the maximum profit of a series of profitable trades and the amount of profitable trades corresponding with it;

Maximal consecutive loss (count of losses) — the maximum loss of a series of unprofitable trades and the amount of unprofitable trades corresponding with it;

Average consecutive wins — the average amount of profitable positions in consecutive profitable series;

Average consecutive losses — the average amount of unprofitable positions in consecutive unprofitable series.

This report can be copied to the clipboard or saved in the hard disk as an HTML file. To do so, one has to execute the "Copy" context menu command or that of "Save as Report", respectively. The report can also be copied to the clipboard by pressing of accelerating keys of Ctrl+C.

More details are given in the sections of "Testing of Expert Advisors" and "Optimization".

READMORE -

Graph
In the "Graph" tab, the graphs of the account balance (blue line — "Balance") and general account status considering open positions (green line — "Lots") are drawn automatically. If only balance line is shown in the graph, it means that "Balance" and "Lots" lines coincide during the whole testing process. The graph allows to watch the trade results more pictorially when testing. If the lot sizes have been changed during testing, the bar chart showing these changes will appear in the lower part of the graph.

Double click with the left mouse button on any point of the graph will switch to the "Results" tab and select the corresponding line. Using the "Copy" context menu command or accelerating keys of Ctrl+C, one can copy the graph to the clipboard for further use in other applications. The graph can also be stored as a GIF file on the hard disk. To do so, one has to execute the "Save as Picture" context menu command or press the accelerating keys of Ctrl+S. The "Set Date "From"" and "Set Date "To"" commands allow to set the time range of testing. At that, the dates of operations selected are written in the fields of "Use Date From:" and "Use Date To:" in the Settings tab. This is useful if there is a need to test an expert or to optimize its parameters for this given time range.

More details are given in the sections of "Testing of Expert Advisors" and "Optimization".

READMORE -

Results Tab
The testing results are represented as a table in this tab. Information about all trade operations performed within the testing process can be found here:

# — the sequence number of the trade operation;

Time — time of the trade operation;

Type — the type of operation performed (sell, buy, s/l, t/p, modify, close at stop, etc.);

Order — the ticket number of a trading position or a pending order (not to be mixed up with the trade operation number described above);

Lots — the amount of lots that participated in the operation;

Price — the price of the security at the operation performing;

S/L — the Stop Loss order value. No entries in this field mean that no order was placed;

T/P — the Take Profit order value. No entries in this field mean that no order was placed;

Profit — profit/loss. The value of profit/loss will be entered only after positions have been closed;

Balance — the value of balance. This value will be entered only after positions have been closed.

Having clicked with the left mouse button on any column heading, one can sort all entries in the table in descending or ascending order. Using the "Copy" context menu command or accelerating keys of Ctrl+C, one can copy the selected lines of results to the clipboard for further use in other applications. If no line has been selected, the entire table will be copied to the clipboard. To copy the entire table to the clipboard, one can execute the "Copy all" command. The report about testing results can be stored in a HTML file on the hard disk. To do so, one has to execute the "Save as Report" context menu command. The "Set Date "From"" and "Set Date "To"" commands allow to specify the time range for testing. At that, the dates of the selected operations will be written in the fields of "Use date from:" and "Use date to:" in testing settings. This useful if there is a need to test an expert thoroughly or to optimize its parameters within this given range.

More details are given in the sections of "Tester" and "Optimization".

READMORE -

Expert Properties Window
Parameters of the virtual account and the expert advisor under test can be set up in this window. These data will later be used for testing or optimization of the expert parameters. There are three tabs in the window:

Testing — Parameters common for both testing and optimizations are placed in this tab. These are volume and currency of initial deposit that are given in the fields of the corresponding names. Types of positions to be opened at testing can be selected, as well: "Only Long" — open only long positions; "Only Short" — only short ones; "Long and Short" — open both types of positions. Whatever expert mechanisms are used, they will open positions only as set here;

Inputs — the list of all inputs is given here as a table. Inputs are variables that influence the expert work and can be changed directly from the client terminal. The amount thereof can vary from expert to expert. The current data to be used at testing of an expert will be written in the "Value" field. Data to be written in the fields of "Start", "Step" and "Stop" do not influence the expert testing, and are only used for its optimization. Initial value of the variable, step of change, and final value are written in this field. At optimization, expert with parameters within the range between initial and final values will be passed consecutively. Checking from the right of the variable names allows to include the parameter into optimization process. If a variable has not been checked, it will not participate in optimization. Its value will not be changed in the optimization process, and the parameter written in the "Value" field will be used.

There is an opportunity to download a set of inputs already saved before (including the values of "Start", "Step", and "Stop"). This can be done by pressing of the "Load" button and after the preliminarily saved set of inputs has been selected. The actual set of external variables can be saved by pressing of the button of the same name.

Attention: It is recommended to include only necessary variables into optimization process. If too many variables are included into it, the amount of passes and total optimization time will rapidly increase.
Optimization — this tab allows to manage optimization limits. If the real values meet those required in this tab, the current pass will be stopped and the next pass will start. Parameters limiting testing at optimization of the expert are:

Balance minimum — minimum balance value in the deposit currency;

Profit maximum — maximal profit in the deposit currency;

Minimal margin level, % — minimal level of margin in per cents;

Maximal drawdown, % — maximal drawdown in per cents;

Consecutive loss — maximal total loss in one series of trades. A loss series is a certain amount of consecutive loss trades;

Consecutive loss trades — maximal amount of loss trades in one series;

Consecutive win — maximal total win in one series of trades. A win series is a certain amount of consecutive win trades;

Consecutive win trades — maximal amount of win trades in one series.

More details are given in the sections of "Testing of Expert Advisors" and "Optimization".

READMORE -

Settings
Testing parameters and experts optimization parameters can be set up in this tab. At testing, the expert is passed on the modeled data one time what allows to determine the profitability and efficiency thereof. At optimization, the mechanical trading system is passed several times with the purpose of determining of such expert parameters at which its profitability is the highest.
The following commands and options are available in this tab:

Expert Advisor — select the expert to be tested in the list. The expert must be compiled and placed in the /EXPERTS directory. All newly created experts will be automatically placed into this directory;

Symbol — select one of the securities available;

Period — select the symbol timeframe;

Model — select the method of bars modeling:

Every tick (based on all available least timeframes with fractal interpolation of every tick);

Control points (based on the nearest less timeframe with fractal interpolation of 12 control points);

Open prices only (fastest method to analyze the bar just completed);

Recalculate — update the data file. If this box is checked, the remodeling of history data will be done at each testing and optimization;

Use date — use range of dates when testing. If this option is enabled, the data from the given range will be used during testing. Otherwise, all available data for the given symbol and period are used;

Optimization — enable the expert parameters optimization mode. More details about expert parameters optimization can be found in the section of the same name;

Expert properties — open the "Expert Properties" window that allows to manage the expert parameters when testing and optimizing;

Symbol properties — view the symbol parameters. These data are given in the *.FXT file heading and used to emulate the server operation;

Open chart — create a new chart window for the symbol selected for testing. When being tested, the expert works with a virtual chart. Signs of opening and closing of positions, objects and indicators used by the expert, are imposed in this chart. This chart can be opened only after the expert has been tested. For opening of a virtual chart, the TESTER.TPL template is used, and, if it is not available, the default settings are used;

Modify expert — open the "MetaEditor" and start to edit the selected expert. This is useful if there is a need to introduce small changes and recompile the expert fast;

Start — start testing or optimization. After this button has been pressed, one can estimate the speed of testing or optimization in progress bar in the lower part of the window. After the testing has been started, the "Start" button will be replaced with the "Stop" button. Having pressed this button during testing/optimization, one can stop the process.

More details about testing of experts can be found in the section of the same name.

READMORE -

Tester Window
"Tester" is a multifunctional window that allows to test strategies and optimize parameters of expert advisors. When being tested, the expert is passed on the modeled data one time what allows to estimate its profitability and effectiveness. For optimization purposes, the mechanical trading system is passed many times in order to find out such parameters of the expert at which its profitability is the highest.

The window can be called by the "View — Strategy Tester" menu command, by pressing of accelerating keys of Ctrl+R, or the button of the "Standard" toolbar. There are several tabs in this window:

Settings — settings of testing and optimization. The parameters of expert advisors, period to be tested, the method of bars modeling, and many other things, can be set up in this tab;

Results — the results of trade operations performed by the expert, as well as the direction of balance changes;

Graph — displaying of testing results in a graph;

Report — the detailed testing report. Many indications of testing and effectiveness of experts can be found here: the amount of bars modeled, the total profit, the most profitable and unprofitable positions, the amount of profit and loss trades, etc.;

Journal — a log where all actions and internal messages of the expert are recorded;

Optimization Results — information about every pass, including inputs, profitability, drawdowns, and other data;

Optimization Graph — the results of expert optimization as a graph. Besides each pass profitability, the amount of profit and loss trades is displayed in the graph.

As in the "Terminal" window, some tabs of the "Tester" window are hidden if they are empty. So, initially, only the tabs of "Settings" and "Journal" can be seen in this window. The tabs of "Results", "Graph", and "Report", will only appear after an expert has been tested. After it has also been optimized, the tabs of "Optimization Results" and "Optimization Graph" will appear. More detailed information about testing of experts can be found in the section of the same name.

READMORE -