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Mt4 is a pure forex platform made to take the money from retail traders. It doesn't provide anything to measure real volume, which is the only thing that matters in trading. Whiteout volume your just guessing. In my opinion mt4 is pure shit and should be banned.
Since 2017, mt5 have the possibility to trade regulated futures contracts with several brokers using real volume in its calculations. I know that mt5 isn't the best manually traded platform because it doesn't offer that advanced indicators to begin with as some of its competitors. But what I look for is automation and the possibility to program indicators and bots myself, this is something mt5 offers quite easily.
Their backtesting has become really good too, and its using real ticks from your broker. My backtesting and real trades don't differ that much, at least not since mid november 2021.
As mentioned before, metatrader have some ill things like backend dealer plugins but for this I have a workaround using trade copier and API.
I use CME data from cqg on my mt5 platform, which is a good data supplier. I can trade ES as you do too.
Your strategy seems quite simple and straight forward, have you ever tried automating it?
How many hours a day do you sit in front of your screen and trade?
Can you help answer these questions from other members on NexusFi?
I have now about 15 years experience with trading.
and the best step was to kick the free software away.
So call it positive spread, markup, slippage, dealer plugin or however you wanna call it-- I call it not tradable conditions if I call it nice ;-)
all this is basic of metatrader...
So.. I think you can´t do it with this platform like me or any other trader with a better software.
Just to name some:
SC, NT, Jigsaw, TWS, bloomi... and many more
And yes, sure I thought about to automate it. sounds so easy... Cash cow that works for me..
The reason why it won´t work is:
I trade the event!
Not the candle!
... I look what happens before my trigger candle appears!
How does the market fish a new level/break a low or high.
Is there a liquidity building before?
Icebergs?
What made the break and did it tip a bit lower almost before.
all in all the behaviour that gets my attention and I handle it with a calculated risk.
I get what you mean with the markups, but that depends on the broker you use not the platform.
I use mt5 as a automation platform only. I do my extensive testing on it and when I trade I copy my positions to a different platform either local or web based. I can use Sierra Charts for that matter to send my positions to.
Maybe mt5 isn't suitable for ES and a couple other markets, I don't know because I don't trade those markets to be honest. But for euro-fx futures its just perfect, at least with my strategy.
I'm not going to make this into a cock measuring competition, but I started trading back in 2011 which gives me only 12 years of experience compared to your 15.
I have many years experience in automation of several strategies on different platforms, I just felt like talking to like minded people in this forum. This is why I started this tread, hence the name "Trading Delta Volume on Metatrader 5".
I'm guessing you weren't profitable before when you traded on mt5? Don't blame that on the platform, blame your broker or your strategy.
I'm glad you have found a strategy that works for you now, plus a platform and broker that suites it.
Hehe, nope.. You guess wrong again
I really only wanted to do it more professional.
And as I explained... It s not a strategy, it is the behaviour of the price.
Before I go into indicators I use I will give you some hints for what to look for when choosing a market.
You need to know the market you are trading, what beat it got. Every market is different depending on trader participation.
What timeframe is tradable according to the indicators you use.
How large or small movements can be exploited. I scalp, but scalping distance to me depends on the timeframe you use. Small tf - small movements, Large tf- large movements.
If price move against you when you have opened a position, how far does price usually travel before it reverses.
You can trade using price action and candlestick patterns, but that will only gives you a 50/50 chance on getting it right in the long run.
What you do need is real volume (not aggregated) and delta of bids and offers.
Best way to test this is of course to program your own test bot, else you will need to use your eyes and manually backtest charts.
I'm lazy so I make my own test bots.
To find the rhythm of a market I usually throw a band indicator on the chart, can be MA-bands, VWAP-bands, ATR-bands or Bollinger or any other bands indicator for that matter.
As long as you can find the outer limits of price movements and see where it usually reverses back to average price.
When you establish the right indicator to use and what settings to have and on what timeframe to trade you can go on with the next step.
At what distance from the middle will price usually reverse back after a "breakout" of the indicator bands.
I usually look for a reversal candle after a breakout, I need to see that there is some sort of interest in reversing back to your Take Profit-zone.
With these candle movements I then add my volume and delta indicators, are there any reoccurring patterns in the delta and volume around these candle formations.
I'm going to leave this at what I have written above. Of course there is more to it than this, but it should give you some sort of starting point.
Here is some of the setups I have in my bots, I will not disclose all the indicators I use or timeframe shown.
On chart is a bands indicator I made myself, calculations I cant disclose.
Separate charts is from top
# Special Delta Volume
# Special Delta Percent
# Special Volume calculation nr 1
# Special Volume calculation nr 2
Even though I think automation is the way to go, the trading approach I have shown here can be implemented in any manually traded strategy or behavior of price for that matter.
Because this is what the markets do all the time over and over again, you just need to find the right size of the movements in the market you trade and see if it can be exploited in any way.
It doesn't matter what platform you use to trade this, as long as you have real volume, delta of Bids and Offers and some analytical interest.
My strategy is still working, even though its kind of slow this year. Only 12 trades so far.
Historically there have been times with no trades during a month or so, but it keeps on making good money in the long run.
