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Comprehensive dictionary of forex trading, technical indicators, MQL programming, and algorithmic strategy terms. Master the language of automated trading.
Foreign Exchange - the global marketplace for trading currencies, operating 24 hours a day, 5 days a week.
Two currencies quoted together, showing how much of the quote currency is needed to buy one unit of the base currency.
Example: EUR/USD = 1.0850 means 1 Euro equals 1.0850 US Dollars
Percentage in Point - the smallest price movement in a currency pair, typically 0.0001 for most pairs.
Example: EUR/USD moving from 1.0850 to 1.0851 is a 1 pip move
The difference between the bid (sell) and ask (buy) price of a currency pair. This is how brokers make money.
The ability to control a large position with a small amount of capital. Expressed as a ratio (e.g., 1:100).
Example: With 1:100 leverage, $1,000 can control a $100,000 position
The amount of money required to open and maintain a leveraged position. It acts as collateral for the trade.
A standardized trading size. Standard lot = 100,000 units, Mini lot = 10,000 units, Micro lot = 1,000 units.
The difference between the expected price of a trade and the actual execution price, often occurring during high volatility.
The ability to buy or sell an asset quickly without causing significant price movement. Major pairs have high liquidity.
The degree of price fluctuation in a currency pair over time. High volatility means larger price swings.
The first currency in a currency pair. In EUR/USD, EUR is the base currency.
The second currency in a currency pair. In EUR/USD, USD is the quote currency.
Buying a currency pair with the expectation that its value will increase.
Selling a currency pair with the expectation that its value will decrease.
The price at which the market will buy a currency pair from you.
The price at which the market will sell a currency pair to you.
An indicator that smooths price data by calculating the average price over a specific period. Common types include SMA and EMA.
A momentum oscillator measuring the speed and magnitude of price changes, ranging from 0 to 100.
Example: RSI > 70 suggests overbought, RSI < 30 suggests oversold
Moving Average Convergence Divergence - a trend-following momentum indicator showing the relationship between two moving averages.
Volatility bands placed above and below a moving average, expanding and contracting based on market volatility.
A momentum indicator comparing a closing price to its price range over a period, ranging from 0 to 100.
A volatility indicator measuring the average range between high and low prices over a period.
An indicator measuring trend strength, ranging from 0 to 100. Values above 25 indicate a strong trend.
A comprehensive indicator showing support/resistance, trend direction, and momentum in one chart.
Stop and Reverse - an indicator providing potential entry and exit points based on price momentum.
Horizontal lines indicating potential support and resistance levels based on Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%).
A moving average that gives more weight to recent prices, making it more responsive to new information.
A moving average calculated by adding recent prices and dividing by the number of time periods.
An oscillator identifying cyclical trends in a security, measuring deviation from average price.
A momentum indicator measuring overbought and oversold levels, ranging from 0 to -100.
A combination of three smoothed moving averages used to identify trending and ranging markets.
Measures the rate of change in price over a specific period to identify trend strength.
The specific criteria that must be met before opening a trade, such as indicator signals or price levels.
The criteria that trigger closing an open position, including stop loss, take profit, or signal reversal.
A predetermined price level at which a losing trade is automatically closed to limit losses and protect capital.
A predetermined price level at which a winning trade is automatically closed to lock in profits.
A dynamic stop loss that moves with the price to protect profits while allowing gains to run.
Determining how much capital to risk on each trade based on account size and risk tolerance.
The ratio of potential profit to potential loss in a trade.
Example: A 1:3 ratio means risking $100 to potentially gain $300
The peak-to-trough decline in account equity, expressed as a percentage. Maximum drawdown shows worst-case scenario.
The percentage of trades that are profitable. A 60% win rate means 6 out of 10 trades are winners.
Gross profit divided by gross loss. A value above 1.0 indicates profitability, above 2.0 is excellent.
The process of managing trading capital to minimize risk and maximize returns over time.
The percentage of account balance risked on a single trade, typically 1-2% for conservative traders.
Moving stop loss to entry price after trade moves in profit, eliminating risk of loss.
Closing a portion of a position to lock in profits while leaving the rest to run.
An automated trading program that runs on MetaTrader platforms, executing trades based on predefined rules without human intervention.
A popular forex trading platform developed by MetaQuotes Software, widely used for manual and automated trading.
The successor to MT4, offering more features including additional timeframes, economic calendar, and improved performance.
MetaQuotes Language 4 - the programming language for creating EAs and indicators in MT4.
MetaQuotes Language 5 - the object-oriented programming language for MT5, more powerful than MQL4.
Testing a trading strategy against historical data to evaluate its performance and profitability before live trading.
A built-in MetaTrader tool for backtesting and optimizing Expert Advisors using historical price data.
The most granular price data, showing every price change in the market, used for accurate backtesting.
The period represented by each candlestick on a chart (e.g., M1, M5, M15, H1, H4, D1, W1, MN1).
An array storing calculated indicator values for each bar on the chart, used in custom indicator programming.
A tradable instrument in MetaTrader, such as a currency pair, commodity, or index.
A graphical representation of price movements over time, displaying candlesticks or bars.
An instruction to buy or sell a financial instrument at a specified price or market price.
An order that will be executed automatically when price reaches a specified level.
EA Strategy Builder's drag-and-drop interface for creating trading strategies without coding knowledge.
AND/OR operators used to combine multiple conditions in a strategy for complex entry/exit logic.
Additional criteria that must be met alongside entry conditions to open a trade, reducing false signals.
The automated process of converting visual strategy logic into MQL4/MQL5 code for MetaTrader platforms.
Backtesting a strategy across multiple currency pairs simultaneously to verify robustness.
The process of finding the best parameter values for a trading strategy through systematic testing.
Testing a strategy on out-of-sample data to ensure it performs well on unseen market conditions.
A measure of risk-adjusted return, calculated as (return - risk-free rate) / standard deviation. Higher is better.
A graph showing account balance over time, including both realized and unrealized profits/losses.
The statistical relationship between two currency pairs. Ranges from -1 (inverse) to +1 (perfect correlation).
Opening positions to offset potential losses in other positions, reducing overall portfolio risk.
A trading strategy involving many small trades to capture small price movements, typically held for seconds to minutes.
A trading style holding positions for days or weeks to capture larger price swings in trending markets.
Opening and closing positions within the same trading day to avoid overnight risk.
Long-term trading strategy holding positions for weeks, months, or years based on fundamental analysis.
A risky strategy of doubling position size after each loss to recover losses with one win.
Placing buy and sell orders at regular intervals above and below current price to profit from volatility.
Trading based on economic news releases and their impact on currency prices.
Trading based on raw price movements and chart patterns without relying heavily on indicators.
A price level where buying pressure is strong enough to prevent further decline.
A price level where selling pressure is strong enough to prevent further rise.
When price moves beyond a defined support or resistance level with increased volume.
A period where price moves sideways within a range, indicating indecision in the market.
The general direction of price movement over time - uptrend, downtrend, or sideways.
A change in the direction of a price trend from up to down or vice versa.
A temporary reversal in the direction of a trend before continuing in the original direction.
When price and an indicator move in opposite directions, often signaling a potential reversal.
When multiple technical factors align at the same price level, strengthening the signal.
Specific formations of candlesticks that suggest potential price movements (e.g., doji, hammer, engulfing).
Recognizable formations on price charts that suggest future price movements (e.g., head and shoulders, triangles).
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