Hi, in this kind of video I want to answer questions that I get often.
One of the questions is: Can I trade what I see on the chart with an automated system?
Well, most of the time the answer is, yes. It depends a little bit on what you see on the chart.
Um, for Metatrader the chart is a bunch of numbers.
So you can basically you can calculate almost everything that you see on the chart.
Most of the time, it is a value and a point in time that you need.
For example, a simple moving average is a lot of single points that are drawn on the chart.
And when you stop it and hover with your mouse over the last, uh, value, you will see that it actually is a number.
So numbers for moving averages are a very simple way to trade an entry signal, because it is easy to say if the numbers have crossed, if the last number is higher or lower, it is possible to find candlesticks.
Um, it is also possible to find something like a doji candle.
A doji candle is simply something where the open and the close price of a candle are equal.
There are some other candle patterns that are a little bit more complicated to calculate, but basically this is also possible.
It depends on what you define as an entry signal.
There are lots of different entry signals that are supported by Metatrader without much work.
But you can define your own entry signal.
The one thing that you can’t do is you can’t do everything at the same time.
For example, if you would like to play soccer, you may not use a tennis racket and you may not use a basketball.
You basically need to define rules where it’s inside of the playing field. And where is outside of the playing field?
And you’ll need to define what a goal is.
If you can create your own rules and if you can stick to your own rules, almost everything that you see on the chart is also possible with an automated system.
If you know how to do that.
Okay. Thanks for watching.