MetaTrader 5 Help

How to Choose a Signal

How to Choose a Signal

Every signal is provided with a detailed performance report: growth, balance and equity charts, multiple statistical values, full trading history and more.

Watch video: Trading signals showcase

Watch video: Trading signals showcase

How to choose a trading signal and subscribe to it for a couple of clicks? It is easy! Watch the video to find out everything about trading signals.

The showcase features the main parameters of the signals:

Showcase of signals

Growth graph

This graph helps to visually determine how successful the trading signal is.

Signal/Equity

Click on the title to switch between signal sorting by name and by equity.

Growth

Deposit growth in percentage value calculated on the basis of trade history without considering deposits and withdrawals. Growth is one of the main characteristics, based on which you can assess a trading signal.

Weeks

Number of weeks that have passed since the first trade performed on the trading account (the entire account lifetime is taken into account, not just the period since its registration as a signal). The older the signal, the more trading information is available. Do not subscribe to very young signals.

Maximum drawdown

The largest balance drop from the local maximum in percentage value. The lower the value, the less risky the signal trading.

Profit Factor

Ratio between gross profit and gross loss. One means that these parameters are equal. The higher the value, the higher the profits in relation to losses.

Price

Signal price in USD. A button here allows to edit a signal to favorites. If you like a signal, add it to Favorites to easily get back to it at any time.

  • When connecting to a real account, only signals based on real accounts are displayed in the list.
  • Only the first one thousand of signals sorted by rating are featured on the platform Showcase. Other signals can be found via MQL5.community website or using search.

The list can be sorted by any of the above parameters. The first mouse click on the column name sorts the signals by the first parameter, while the second click — by the second parameter. To reset the sorting, click on the upper line of the growth graph column.

Watch video: Detailed statistics of a trading signal

Watch video: Detailed statistics of a trading signal

For your convenience, the most valuable parameters of trading signals are placed in a separate block. From this video you will find out where to find them and what to pay attention to.

To view the detailed information about the signal, click on it.

Signal details

The main signal characteristics

  • Growth — deposit growth in percentage value calculated on the basis of trade history without considering deposits and withdrawals.
  • Initial Deposit — amount of money deposited to the account when opening it.
  • Deposits — funds deposited on the account during its life time. This parameter should always be considered when evaluating the signal's profitability. The balance curve may be supported by regularly deposited funds.
  • Withdrawals — funds withdrawn from the account during its life time.
  • Balance — money on the account, not accounting the floating profit of currently open orders.
  • Equity — deposit funds accounting for the results of the currently open positions (floating profit/loss).
  • Profit — profit/loss gained during the life time of the account.
  • Subscribers — current amount of the signal subscribers.
  • Max drawdown — maximal balance drop relative to the local maximum in deposit currency.
  • Weeks — number of weeks that have passed since the first trade on the trading account was performed (the entire account lifetime instead of the period since its registration as a signal is considered).

Trading details

  • Latest trade — amount of time passed since the last trade operation on the account of the signal provider.
  • Trades per week — average number of trades per week.
  • Avg holding time — average time of holding an open position.

Provider's account details

  • Broker — the name of the broker server the account is registered on.
  • Leverage — leverage value.
  • Trading mode — demo or real. Please note that demo accounts allow traders to afford the risks that may be unacceptable for real accounts.
  • Expected slippage — slippage based on statistics concerning copying of trades between subscriber's and provider's servers. This parameter is available only in the trading platform.

Provider details

  • Author — the name (MQL5.community account) of the author. Clicking on it to move to the provider's MQL5.community profile.
  • Details — view the signal information on MQL5.community.

Add to Favorites

If you like a signal, add it to Favorites to easily get back to it at any time.

Visualize on Chart

View the signal trading history on the charts in the trading platform. If your click it, all the charts of symbols traded on the signal account will be opened. All deals performed on the signal account are displayed on the chart as icons.

Proceed to signal subscription.

Graphical data of a signal

Tabs contain signal operation charts and diagrams: growth, equity and balance charts, distribution of trades by instruments and risk details, as well as other subscribers' reviews.

How to view the signal trading history on a chart

To visually evaluate the effectiveness of how the provider enters and exits the market, you can display all of the trades on charts in the trading platform.

Watch video: Visualize a signal on a chart

Watch video: Visualize a signal on a chart

The effectiveness of entry points and the unrealized profit can be easily assessed with the visualized chart of provider's deals.

Click on Visualize. All the charts of symbols traded on the signal account are opened. The icons Buy and Sell on these charts show all trades performed on the signal account.

View the signal trading history on a chart

Growth, Equity and Balance Graphs

Watch video: Trade statistics, growth, equity & balance graphs

Watch video: Trade statistics, growth, equity & balance graphs

Trade statistics provide detailed information about a signal, yo help you  make a wise decision. Growth, equity & balance graphs allow you to visually evaluate a successful provider.

These charts mainly show the profitability of the signal.

Growth, Equity and Balance Graphs

  • Growth — shows the growth of balance on the signal provider's account in percentage terms.
  • Equity — the chart shows both the equity curve and the balance curve. You should pay attention to the strong fall of equity relative to the balance. This indicates that the provider outstays the losses, which means an additional risk for the subscribers. Triangles Withdrawal and Deposit on the horizontal axes of the graph mark balance operations on the account — withdrawal and deposit. If you point the mouse cursor over it, the operation amount is displayed.
  • Balance — shows the growth of balance on the signal provider's account in money terms.

Evaluating the Riskiness of the Signal

Watch video: Risks, distribution, news and reviews of trading signals

Watch video: Risks, distribution, news and reviews of trading signals

How risky does your provider trade and what do other subscribers think of that? Watch this video to find the answers to these questions.

The Risks section displays MFE and MAE distribution point graphs.

Risks

Maximum profit (MFE) and maximum loss (MAE) values are recorded for each open order during its lifetime. These parameters additionally characterize each closed order using the values of the maximum unrealized potential and maximum permitted risk. MFE/Profit and MAE/Profit distribution graphs display each order as a point with received profit/loss value plotted along the X-axis, while maximum displayed values of potential profit (MFE) and potential loss (MAE) are plotted along the Y-axis.

If you place cursor over a position point on a graph, the same position point will be highlighted on the other graph. Thus you can analyze both potential profit and loss of every position.

The following statistical rates are displayed below the graphs:

  • Best trade — trade having the highest profit among all profitable ones;
  • Worst trade— trade having the worst loss among all loss-making ones;
  • Max. consecutive wins — the amount of trades in the longest profitable sequence and its total profit;
  • Max. consecutive losses — the amount of trades in the longest losing sequence and its total loss;
  • Max. consecutive profit — the largest profit in a continuous profitable sequence and the amount of appropriate profitable trades;
  • Max. consecutive loss — the largest loss in a continuous losing sequence and the amount of the appropriate losing trades.

If you place cursor over a rate, the corresponding trades will be highlighted on the graphs.

Financial Instruments and Trading Direction in a Signal

The "Distribution" tab shows the number of trade operations displayed by symbols. It also contains the distribution of trades based on direction (Buy and Sell):

Distribution of trade operations by symbols and by type

Slippage during copy trading

The Slippage tab displays average slippage when executing trade operations on the servers of various brokers.

Slippage

The average slippage is calculated based on statistics of trading signals execution at different brokers. Statistics is gathered for all signals at the provider's server. The difference between the order price placed by the signal provider and the order execution price at the subscriber's server is defined. The average value is calculated based on these data.

Number of slippage points is displayed according to the price accuracy (number of decimal places) at the signal provider's side.

Slippage can be caused by differences in quotes on the servers or trade execution delays. The lower the slippage, the higher the accuracy of the signal copying.

User Reviews about the Signal

On the "Reviews" tabs, MQL5.community members can express their opinion on the signal. Before you subscribe to a signal, check out the comments of other subscribers.

Reviews

Signal News

Using tab "News", the signal provider can inform subscribers about any changes in the signal operations as well as provide any other useful information. If no news is published, this tab is not displayed.

Trading and Statistics

Detailed account trading statistics, as well as currently open positions and the history of trades are displayed below the chart.

Signal trading statistics

Trade Statistics

  • Total Trades — the total number of trades (deals that lock profit or loss).
  • Profit Trades — number of profitable trades and their share in the total number of trades in percentage value.
  • Loss Trades — number of losing trades and their share in the total number of trades in percentage value.
  • Best trade — trade having the highest profit among all profitable ones.
  • Worst trade — trade having the worst loss among all loss-making ones.
  • Gross Profit — sum of all profitable trades in monetary units.
  • Gross Loss — sum of all loss-making trades in monetary units.
  • Max consecutive wins — the amount of trades in the longest profitable sequence and its total profit.
  • Max consecutive profit — the largest profit in a continuous profitable sequence and the amount of appropriate profitable trades.
  • Sharpe Ratio — this parameter shows strategy efficiency and reliability. It reflects the ratio of the arithmetical mean profit for the position holding time to the standard deviation from it. The risk-free rate, which is the profit gained from the appropriate bank deposit funds is also taken into account here.

Trade Statistics

  • Recovery Factor — this parameter displays the risk level of the strategy (the funds that are put to risk to earn the obtained profit). It is calculated as the ratio of gained profit to the maximum drawdown.
  • Long Trades — number of trades fixing profit from long deals and amount of profitable long trades in percentage value.
  • Short Trades — number of trades fixing profit from short deals and amount of profitable short trades in percentage value.
  • Average Profit — average profit for all profitable trades.
  • Average Loss — average loss for all loss-making trades.
  • Profit Factor — ratio between gross profit and gross loss. One means that these parameters are equal.
  • Expected Payoff is a statistically calculated parameter displaying average profitability/unprofitableness of one trade. Also, it is considered to display the expected return of the next trade.
  • Max consecutive losses — the amount of trades in the longest losing sequence and its total loss.
  • Max consecutive loss — the largest loss in a continuous losing sequence and the amount of the appropriate losing trades.
  • Monthly growth — average deposit growth for a month in percentage values. Calculated as the total growth divided by the number of months traded.
  • Annual Forecast — deposit growth forecast for a year according to the monitoring period results.

Open Positions

  • Symbol — the financial instrument of the open position.
  • Time — position opening time. The record is represented as YYYY.MM.DD HH:MM (year.month.day hour:minute).
  • Type — position type: "Buy" — long, "Sell" — short.
  • Volume — trade operation volume (in lots). The minimum volume and its change step are limited by a brokerage company, the maximum amount — by the deposit size.
  • Price — the price of a deal, as a result of which the position was opened. If the opened position is a result of execution of several deals, then this field displays their weighted average price: (price of deal 1 * volume of deal 1 + ... + price of deal N * volume of deal N) / (volume of deal 1 + ... + volume of deal N). The accuracy of rounding of the weighted average price is equal to the number of decimal places in the symbol price plus three additional characters.
  • S/L — the Stop Loss level of the current position. If this order has not been placed, a zero value is displayed in this field.
  • T/P — the Take Profit level of the current position. If this order has not been placed, a zero value is displayed in this field.
  • Price — the current price of the financial symbol. Bid price is displayed for short positions, while Ask price is used for long ones. The price of the last performed deal (Last) is displayed for the positions of exchange symbols (both directions).
  • Swap — amount of swaps charged.
  • Profit — the financial result of the trade taking into account the current price is written in this field. The positive result tells that the trade is profitable, negative shows that it's losing.

Pending Orders

  • Symbol — the financial instrument of the pending order.
  • Time — pending order placing time. The record is represented as YYYY.MM.DD HH:MM (year.month.day hour:minute).
  • Type — pending order type: "Sell Stop", "Sell Limit", "Buy Stop", "Buy Limit", "Buy Stop Limit" or "Sell Stop Limit".
  • Volume — volume requested in the pending order, and volume covered by the deal (in lots).
  • Price — price reaching which the pending order will trigger.
  • S/L — the level of the Stop Loss order. If this order has not been placed, a zero value is displayed in this field.
  • T/P — the level of the Take Profit order. If this order has not been placed, a zero value is displayed in this field.
  • Price — the current price of the financial symbol. Bid price is displayed for short orders, while Ask price is used for long ones. The price of the last performed deal (Last) is displayed for the orders involving exchange symbols (both directions).

The history of trades on the signal

  • Time — the time of a trade. The record is represented as YYYY.MM.DD HH:MM (year.month.day hour:minute).
  • Symbol — a financial instrument of the deal.
  • Type — trading operation type: "Buy" — a buy deal, "Sell" — a sell deal. It is possible that previously performed deal can be canceled. In this case, the type of the previously performed deal is changed to Canceled buy or Canceled sell, and its profit/loss is reset to zero. Previously gained profit/loss is deposited/withdrawn from an account in a separate balance operation.
  • Direction — direction of the deal relative to the current position of a particular symbol: "in", "out" or "in/out".
  • Volume — the volume of an executed deal (in lots).
  • Price — price the deal was executed at.
  • Swap — amount of swaps charged.
  • Profit — the financial result of the position exiting. For entry trades the zero profit is shown.

How to Add a Signal to Favorites

A huge number of signals are available for subscription. When searching for signals, you can add any of them to Favorites in order to select the best one. Add/remove a signal from Favorites by clicking Add to Favorites button available in the signals list and a signal page.

All Favorite signals are displayed in a separate tab:

Favorites