Swing Scanner ReadMe File

Introduction

Swing Scanner is a custom indicator developed by the Forex Robot Easy Team. It is designed to provide traders with analysis and signals for swing trading in the forex market.

For detailed reviews and trading results of this product, please visit Forex Robot Easy. Please note that Forex Robot Easy is not the official developer of this product, but we provide sample code that can work as described in this product. To find the official developer of this product, please use MQL5.

Global Variables

• timeframe: The timeframe to be used for analysis. Default value is PERIOD_M15.
• riskPercentage: The risk percentage for each trade. Default value is 2.0.
• stopLoss: The stop loss level for each trade. Default value is 100 pips.
• takeProfit: The take profit level for each trade. Default value is 200 pips.

Custom Indicators

Moving Average

This indicator calculates the moving average based on the specified period.

MACD

This indicator calculates the Moving Average Convergence Divergence (MACD) for trend analysis.

RSI

This indicator calculates the Relative Strength Index (RSI) for identifying overbought and oversold conditions.

Price Action Analysis

This indicator performs price action analysis to identify potential trading opportunities.

Trade Entry and Exit Signals

This indicator generates trade entry and exit signals based on the analysis of other indicators and price action.

Risk Management

This indicator implements risk management strategies to control the size of each trade and protect against excessive losses.

Backtesting

This indicator provides backtesting functionality to evaluate the performance of the trading strategy.

Customization

This indicator allows for customization of various parameters and settings to cater to individual trading preferences.

Performance Optimization

This indicator includes performance optimization techniques to ensure efficient and accurate analysis.

Main Function

The main function of Swing Scanner is to provide real-time analysis and generate trading signals based on the configured indicators and settings.

• OnInit(): This function is called during the initialization of the indicator. It sets up the necessary variables and configurations.

• OnDeinit(const int reason): This function is called during the deinitialization of the indicator. It performs any necessary cleanup or finalization tasks.

• OnTick(): This function is called on each tick of the market. It performs real-time analysis and generates trading signals.

• OnChartEvent(const int id, const long& lparam, const double& dparam, const string& sparam): This function is called when a chart event occurs. It handles any chart-related actions or interactions.

• OnStart(): This is the entry point of the Swing Scanner indicator. It calls the necessary functions in the correct order to initialize, analyze, and deinitialize the indicator.

Conclusion

Swing Scanner is a powerful custom indicator developed by the Forex Robot Easy Team. It provides traders with comprehensive analysis and accurate trading signals for swing trading in the forex market. For more information and to access the official developer of this product, please visit MQL5.