Building a breakout trading strategy in MQL5 involves using technical analysis to identify and capitalize on market trends. The focus is the EUR/USD pair over the H1 timeframe, employing a combination of moving averages and the Average True Range (ATR) to guide trade decisions.

The strategy aims to detect breakouts by monitoring prices against predefined high and low levels, confirmed through price action and crossover points of fast-moving (5-period EMA) and slow-moving averages (60-period EMA). Orders are executed based on directional bias validated by these indicators.

Backtesting with historical data from January 2020 to November 2024 is critical to evaluate the strategy's effectiveness and profitability. Monitoring additional pairs, like EUR/GBP and GBP/USD, helps filter false breakouts, enhancing trade accuracy.
#MQL5 #MT5 #Algorithm #Forex

Read more...

A streamlined adaptive grid expert advisor designed for MetaTrader 4 offers versatility across various time frames and commonly traded forex symbols. Compatibility has been confirmed on EURUSD with an M15 time frame. For developers looking to modify or enhance this code, it is advisable to visit the Freelance department within the Visual Expert menu. Such updates can optimize the advisor's effectiveness or tailor it to specific trading needs. When implementing or adjusting strategies, always consider back-testing across multiple scenarios to ensure robustness and performance consistency in changing market conditions. Use the resources available for any further technical requirements or customization guidance.
#MQL4 #MT4 #EA #Forex

Read more...

For efficient management of trading data, several components are integral in developing an application using the MQL5 language. The application is structured with a Service app for generating reports and sending notifications; a collection of accounts to access historical positions; and separate classes for deals and positions.

The Deal class facilitates storing and accessing individual trade properties, enabling comparison functionalities that aid in creating filtered lists based on selected criteria. The Historical Position class, on the other hand, manages composite data from trades, offering a streamlined method to reconstruct closed market positions for analysis.

These elements combined enable seamless tracking and reporting, crucial for evaluating past trades, optimizing strategies, and maintaining trading efficiency while abiding by notification co...
#MQL5 #MT5 #Trading #Forex

Read more...

The transition to daylight saving time introduces challenges in maintaining consistent trading hours for FOREX sessions due to discrepancies in time changes across regions. Trading hours are supposed to last 120 hours: from Sunday 5:00 p.m. EST to Friday 5:00 p.m. EST. However, the U.S. shifts its time on the second Sunday in March and the first Sunday in November, while the E.U. changes on the last Sunday in both March and October. This results in temporary inconsistencies in time differences between markets, affecting the start and end of FOREX sessions.

A particular issue arises with brokers that fail to adjust server times accordingly, leading to an incorrect start and endpoint of the session—specifically omitting the first hour after the weekend. This impacts strategies relying on weekend events, as the expected adjustment doesn't occur. A script can v...
#MQL5 #MT5 #Forex #Script

Read more...

The 3rd Generation Moving Average is an enhanced version of the standard moving average for MetaTrader, aimed at reducing lag through a longer MA period. Originally outlined by M. Duerschner in "Gleitende Durchschnitte 3.0," it uses λ = 2 for optimal lag reduction. It's available for both MT4 and MT5 platforms without the need for DLLs. Parameters include MA_Period (default of 50), MA_Sampling_Period (default of 220), MA_Method (set to MODE_EMA), and MA_Applied_Price (set to PRICE_TYPICAL). The indicator provides a responsive alternative to the conventional EMA, with a faster reaction to price changes, although it may still generate false signals. It functions similarly to a standard moving average for identifying trend directions.
#MQL4 #MT4 #Indicator #Forex

Read more...

The Aroon Up & Down indicator assists in identifying local tops and bottoms on currency pair charts. Designed for MetaTrader platforms, it offers trading signals for buying and selling based on the position of its lines. A crucial signal is when the indicator lines cross, suggesting an optimal moment to either secure profits or limit losses. This indicator can also notify users through sound and email alerts, if configured. Compatible with both MT4 and MT5, it features adjustable parameters like AroonPeriod, influencing the number and frequency of signals by varying the period length. Adjusting MailAlert and SoundAlert parameters determines the method of alert notification. Trading becomes straightforward by monitoring line positions with respect to the middle range.
#MQL4 #MT4 #Forex #Indicator

Read more...

The 3rd Generation Moving Average introduces enhancements over the traditional moving average (MA) indicator used in MetaTrader platforms. By integrating a straightforward lag-reducing mechanism based on an extended MA period, this indicator improves responsiveness to price shifts. Authored by M. Duerschner, the approach utilizes λ = 2, optimizing lag reduction without necessitating DLL support. This tool is operational on both MT4 and MT5. Key input parameters include MA_Period (default 50), which dictates the moving average period, and MA_Sampling_Period (default 220), which should quadruple the MA_Period for efficacy. The MA_Method parameter defaults to MODE_EMA, while MA_Applied_Price is set to PRICE_TYPICAL. Notably, even with its improvements, the 3rd Gen MA can produce false signals and exhibit residual lag when assessing trend directions.
#MQL5 #MT5 #Indicator #Forex

Read more...

The Daily Percentage Change indicator for MetaTrader provides traders with a view of currency rate fluctuations from the previous daily close, presented in percentage points on the main chart window. It also offers insights into weekly and monthly percentage changes. Customizable settings allow traders to assign different colors to positive or negative movements, along with an arrow for quick direction indication. A Time Shift parameter compensates for brokers using unconventional time zones. The indicator is compatible with both MT4 and MT5 platforms.

In terms of customization, the indicator lets users adjust various input parameters, including text and arrow positioning, font sizes, and color settings for up or down price movements. A notable feature is the ability to display changes in specified screen corners, with adjustments for both text and arrow...
#MQL4 #MT4 #Indicator #Forex

Read more...

The Aroon Up & Down indicator for MetaTrader is a tool designed for identifying local tops and bottoms in applied charts. This aids traders in determining optimal points for buying and selling currency pairs. The indicator operates by signaling when currency pairs rise from bottoms or fall from tops. The intersection of the Aroon lines provides cues for profit-taking or minimizing losses. Both MT4 and MT5 platforms support this indicator, which can issue alerts via sound and email.

Configuration involves setting the AroonPeriod, typically defaulted to 14, which dictates the scope of chart bars reviewed for trend analysis. Adjusting the period affects the smoothness of output lines; longer periods yield smoother lines, while shorter ones increase signal frequency. MailAlert and SoundAlert options allow traders to personalize notification preferences, choo...
#MQL5 #MT5 #Indicator #Forex

Read more...

The Gain/Loss Info MetaTrader indicator quantifies gains and losses when a specified threshold is exceeded. Calculations are expressed in points and percentages. This tool operates in two modes: the difference between candlestick Close and Open, or the difference between the current Close and previous Close. Customizable input parameters include PercentageLimit (default 1.0) which sets the minimum change for display in percentage points, and PointsLimit (default 1000), setting the minimum change in points. Users can modify the font color for positive and negative changes with DisplayGainColor and DisplayLossColor, set to green and red by default, respectively. The indicator is compatible with MT4 and MT5 platforms. Users can define the font face, size, and the maximum number of bars for calculation. An increased MaxBars value increases lag. The ObjectPref...
#MQL4 #MT4 #Indicator #Forex

Read more...

Mathematical formulas are integral to price action analysis, especially in forex trading. In the South African market, traders often use a 50-day Simple Moving Average for trend detection and standard deviation for assessing volatility in the ZAR/USD pair. Position sizing and risk management calculations, incorporating set risk percentages and stop-loss distances, optimize risk management. This enhances profit targets through tools like Fibonacci retracements. The Heikin Ashi technique offers a novel approach for detecting trend reversals by filtering market noise for clearer trend insights. Developed by Munehisa Homma, it averages price data to present a smooth view of market dynamics, aiding traders globally in making informed decisions.
#MQL5 #MT5 #Forex #Trading

Read more...

The Gain/Loss Info indicator for MetaTrader platforms provides essential insights into price changes exceeding specified thresholds. It measures gains and losses in points and percentage, catering to two calculation modes: the difference between Close and Open, or between consecutive Closes. Customize the indicator's sensitivity with "PercentageLimit" and "PointsLimit" settings, adjusting which price changes get highlighted. Visual customization is possible; choose colors for gains and losses through "DisplayGainColor" and "DisplayLossColor". Control the scope of analysis with "MaxBars" and tailor font appearance with "FontFace" and "FontSize". The "ObjectPrefix" ensures seamless integration with other indicators. Compatible with both MT4 and MT5 platforms, enhancing your technical analysis toolkit.
#MQL5 #MT5 #Indicator #Forex

Read more...

The Spread MetaTrader indicator is a tool for tracking the spread values in real-time directly on your trading chart. It dynamically updates with every tick, offering precise spread measurements, ideal for environments with variable spreads. Configurable features include font style, position, and spread normalization. Additionally, a spread label can be activated to show near the Bid line.

The indicator is compatible with MT4 and MT5 platforms. Key input parameters include UseCustomPipSize to define pip size, DecimalPlaces for rounding, and several alert configurations like AlertIfSpreadAbove for automatic notifications. Alerts can be set to trigger native popups, sound alerts, email, or push notifications. Users can tailor the indicator's appearance, choosing font size, color, and position on the chart. DrawTextAsBackground ensures the indicator does no...
#MQL4 #MT4 #Indicator #Forex

Read more...

Financial market analysis continually seeks new methods, exploring even unconventional ones like astrology. William Gann popularized this approach, aiming to correlate celestial positions with market trends. Despite ongoing skepticism, some traders still explore financial astrology. Using Python with libraries like Skyfield for astronomical data and MetaTrader 5 for financial data, researchers attempt to combine ancient knowledge with modern technology.

In the process, data collection and synchronization are essential. Despite rigorous statistical analysis, no significant correlations between planetary movements and market prices were found. Machine learning models like CatBoost also failed to produce reliable predictions, confirming astrology's limited value in modern financial markets.

👉 Read | VPS | Share!

#MQL5 #MT5 #Forex

Dive into Forex pattern analysis with Python and MetaTrader 5 for a systematic approach to identifying trading opportunities in currency markets. This article explores how to transform complex Forex market data into simpler trend indicators using an innovative algorithm for detecting repeating patterns. Key steps include setting up the Python environment, managing libraries like MetaTrader 5 and pandas, and connecting to trading platforms. The article explains processing OHLC data into directional patterns and building a comprehensive system for evaluating win rates and pattern frequencies. This analytical method offers practical forecasting tools for traders looking to enhance their algorithmic trading systems.

👉 Read | Quotes | Share!

#MQL5 #MT5 #Forex

In algorithmic trading, data discrepancies between brokers pose a major challenge due to decentralized pricing. This article explores these issues by comparing EURUSD data from two brokers using MetaTrader 5. It highlights significant differences in returns, risks, and market perspectives across brokers, affecting trading strategy outcomes. Developers must consider these variations when building and deploying applications across different brokers. The article suggests using ONNX for model integration in MQL5 to tailor AI models to specific brokers, ensuring consistent performance. Thorough understanding and customization are vital for reliable and effective trading strategies in the diverse landscape of forex markets.

👉 Read | Docs | Share!

#MQL5 #MT5 #Forex