The "Set Auto TP and SL" feature is integral to executing a robust trading strategy. It offers automated risk and reward management by allowing traders to set specific levels for closing trades, targeting both profit securing and loss limitation. This automation avoids the necessity of continual manual oversight.

Integrating predefined Take Profit and Stop Loss levels in every position allows for efficient management based on custom parameters, such as pips, balance percentage, or technical indicators. This approach not only conserves time but also shields traders from market volatility and emotional trading decisions.

Key benefits include effective risk management by auto-closing trades at specific SL levels, reducing potential losses, and profit locking when TP targets are achieved. These actions aid in maintaining emotional discipline and promoting ...

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #Strategy

Dive into the intricate world of Wolfe Wave patterns with this MQL5 tutorial! Explore how the five-wave structure, known for its precision, forecasts market reversals, offering smarter entry timing for traders. Understand how to identify swing highs and lows to unmistakably trace the Wolfe Wave's path. The article details programming an Expert Advisor to automate this detection, marrying technical pattern recognition with algorithmic trading. Using strategic trend lines and Fibonacci extensions, the EA discernibly navigates high-probability trades, ensuring adherence to the classic Wolfe Wave construct. Enhance your coding and trading prowess by leveraging these methodologies effectively.

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #EA

The recent enhancements to the News Headline EA in MetaTrader 5 focus on integrating a sophisticated alerting system. This update empowers traders by ensuring they receive timely notifications before major economic events. The system utilizes MQL5's robust alert functions such as Alert(), PlaySound(), SendMail(), and SendNotification() for a variety of notification methods like pop-ups and push notifications. By centralizing configuration settings, the EA allows developers to customize alerts for different news impact levels. This modular and non-blocking design also allows for future expansion, including external notification integrations, making it a versatile tool for algorithmic trading.

👉 Read | Freelance | @mql5dev

#MQL5 #MT5 #EA

Explore the fascinating world of unions and arrays with our latest article! Delve into the intricacies of declaring a union as a new, specialized data type in MetaTrader 5, and discover how it offers unique ways to manage and manipulate data segments efficiently. Learn to avoid common pitfalls by understanding the underlying concepts beyond mere syntax.

Unions allow for versatile data manipulation, simplifying code by interpreting memory in multiple ways simultaneously. Discover practical examples to understand differing memory compositions and their impact on execution results. Whether you're fine-tuning your algorithmic trading strategies or honing your programming skills, this read bridges the gap between abstraction and practical implementation. Prepare to challenge your understanding and elevate your code!

👉 Read | VPS | @mql5dev

#MQL5 #MT5 #Programming

Regressions and classical indicators often fall short in capturing the complex dynamics of financial markets. Stochastic and RSI indicators can prove inadequate for predicting the non-linear nature of market movements. It's crucial now to consider integrating more comprehensive mathematical models. Introducing sophisticated techniques including neural networks can resolve classic overfitting issues observed in linear regressions.

Encounters with fractal theory highlight the inadequacies of trying to fit market behavior into linear models. Differential equations and adaptive ratios can bridge this gap, making models more resilient to anomalies like black swan events, offering a balanced approach to market unpredictability. The Nelder-Mead optimization offers an efficient means to fine-tune these complex models without the computational burden witnessed in...

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #AlgoTrading

The presented code functions to identify the highest high and lowest low within a specified range. It performs a comparison between the high of each candle and the highs of the adjacent candles to the left and right sides. In cases where the high of a particular candle surpasses that of the neighboring candles, an arrow is plotted to denote this condition. A similar approach is applied for determining the lowest lows by comparing lows of the candles. This method facilitates the visualization of significant price points in the neighborhood, aiding in the technical analysis process by marking extremes that could indicate potential market movements or turning points.

👉 Read | NeuroBook | @mql5dev

#MQL4 #MT4 #Indicator

Creating a Chart Trade interface in MetaTrader 5 is achievable without coding through Expert Advisor functionalities. This involves setting up your IDE by cleaning chart properties and using specific MetaTrader 5 objects with X and Y coordinates to design the interface. Save the configuration as a TEMPLATE file in the FILES directory for later use.

A message protocol is crucial for communication between the IDE and the trading system. It supports operations like buying or selling market orders and adjusting trade parameters. The objects in the IDE must be named according to the message names for exchange to work.

The TPL file details the properties and positions of objects. Use binary reading with UTF-16 to extract these. Define constants and employ a message system to keep the EA and IDE synchronized. Object rendering should ensure plac...

👉 Read | Forum | @mql5dev

#MQL5 #MT5 #ExpertAdvisor

The new technical indicator offers a streamlined approach to analyzing market trends using the stochastic oscillator. It efficiently compares the main and signal lines, providing visual markers directly on the chart. This feature enables swift identification of market conditions, essential for making informed decisions. Traders can expect enhanced clarity as the indicator highlights where the stochastic lines intersect. Whether employing this tool in trend identification or refining entry and exit points, the visual markers help reduce complexity in analysis. This addition is designed to assist professionals in optimizing strategy and increasing analytical precision.

👉 Read | NeuroBook | @mql5dev

#MQL4 #MT4 #Indicator

In the development of graphical objects, introducing a central pivot point for moving the entire object enhances usability. By implementing this feature, objects can be manipulated more intuitively, without the need for altering multiple pivot points independently. This method focuses on managing composite objects like trend lines with price labels. Enhancements have been made by adding a new library object type for control points and optimizing code by segregating coordinate calculations into distinct methods. Considerations include implementing limitations for graphical objects to prevent distortion when moved beyond the visible chart area, ensuring accurate graphic representation.

👉 Read | VPS | @mql5dev

#MQL5 #MT5 #Graph

This tool identifies trend lines in MetaTrader 5 using two techniques. Type 1 relies on two extremum points within specified bar ranges, while Type 2 combines an extremum with a minimal delta point for dynamic trend lines. Users can adjust parameters like line width, color, and extremum side ranges.

Trend lines appear as pink support and blue resistance lines, offering adjustable properties. Select between EXM_EXM or EXM_DELTA line types. Set the left and right extremum side for Type 1 and bar offset for Type 2. Choose whether to include the bar before the extremum and specify line thickness and color.

To implement, attach it to any MetaTrader 5 chart. Adjust the settings according to your strategy. Trend lines automatically update with each new bar, without including the current unformed bar in calculations. The tool requires sufficient historica...

👉 Read | Calendar | @mql5dev

#MQL5 #MT5 #Indicators

The Generalized AutoRegressive Conditional Heteroskedasticity (GARCH) volatility/volume indicator leverages the GARCH(1,1) recursion model to predict financial asset price volatility. Essential for financial time series analysis, it assumes autocorrelated variance and employs an autoregressive moving average for error term modeling. Given financial markets' irregular error term variations, GARCH is pivotal. Financial firms rely on this model to estimate volatility in stocks, bonds, and indices, including its tested efficacy in Forex, commodities, and cryptocurrencies.

The indicator's input parameters include: Gamma for the constant term, Alpha for the ARCH coefficient reflecting the reaction to recent shocks, Beta as the Generalized ARCH coefficient for persistent variance, Bar window for analyzing rolling means, and Threshold scale adjustment. It featur...

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #Indicator

The article delves into advancements in multivariate time series forecasting with a focus on the LSEAttention framework. This approach addresses numerical instability in traditional Transformers used in long-term forecasting tasks, which are prone to issues like attention and entropy collapse. The integration of Log-Sum-Exp (LSE) and GELU activation functions within this framework enhances numerical stability and mitigates abrupt transitions in attention scores, ensuring a balanced distribution of attention across input sequences. Furthermore, the implementation aspects of LSEAttention in MQL5, including modifications to Softmax layers and Relative Attention modules, underscore the practical enhancements made to bolster forecasting accuracy and efficiency.

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #TimeSeries

Explore the integration of MQL5 and Python to create an advanced candlestick recognition system for traders and developers. By leveraging MQL5's data collection capabilities and Python's pattern detection power, the system identifies key candlestick patterns like Hammer, Shooting Star, and Engulfing in near real-time. The MQL5 EA collects and sends bar data to a Python-powered microservice, which evaluates patterns and returns insights back to the EA for chart annotation. This robust, low-latency approach enhances trading strategies with precise, timely analysis, while ensuring clear, structured logging for transparent and effective troubleshooting.

👉 Read | Calendar | @mql5dev

#MQL5 #MT5 #Candlestick

Discover the transformative power of Market Profile in MetaTrader 5. Unlike typical indicators, Market Profile provides traders with insights into market dynamics by integrating time, price, and volume, revealing which price levels attract the highest trading activity. With the supplied MarketProfile.mq5 code, visualize how prices stabilize and identify key support and resistance levels during three major trading sessions—Asian, European, and American. This tool helps traders decipher price equilibrium and trends, offering strategic entry and exit points without the guesswork. Grasp the underlying principles and enhance trading strategies with a deeper market understanding through this insightful analysis approach.

👉 Read | Forum | @mql5dev

#MQL5 #MT5 #MarketProfile

The article continues the deep examination of the C_ChartFloatingRAD class in the context of replay system development, focusing on its main code without metaphors or superfluous language. The central part of this evaluation is the understanding of how Chart Trade code functions to create graphical elements without explicit object creation code, emphasizing programming techniques that allow it to work seamlessly.

The text covers the removal of unnecessary lines, focusing on concise code that adheres to modern practices like using 16-bit types over 32-bit to optimize performance and memory usage. The sequence starts with the CreateWindowRAD procedure, key for efficiently inserting graphical elements on the chart.

The interaction between procedures and the efficient use of macros and encapsulation are highlighted as core practices. AdjustTemplate and Ad...

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #Indicator

To implement rectangle creation on a chart, utilize objects within the charting library. Begin by defining the coordinates for the rectangle's position. Specify parameters for the rectangle’s dimensions such as height and width. Ensure the code correctly references the chart's axes to maintain alignment. This setup facilitates the visual representation of data zones or highlights specific chart areas. Adjust properties to modify appearance, such as border color and opacity. Examine the execution environment to ensure compatibility with the charting platform's API. Verify the display across different resolutions to maintain consistency in the presentation.

👉 Read | Signals | @mql5dev

#MQL4 #MT4 #script

Unlock the power of recursion in MetaTrader 5 programming! delve into the intricacies of recursive loops, a powerful alternative to traditional iterative programming. This concise guide demystifies recursion's potential for solving complex problems with ease, perfect for traders and developers keen on algorithmic efficiency. Understand how recursive strategies complement event-driven applications, enhancing your proficiency in crafting efficient solutions. Gain insights into the nuances of using recursion in algorithms like Fibonacci, and discover where iteration might be a more performant choice. This foundational knowledge equips you with the versatility to tackle diverse challenges in financial market programming.

👉 Read | Quotes | @mql5dev

#MQL5 #MT5 #Recursion

Discover innovative approaches in algorithmic trading with the cyclical price movement model. This method uses harmonic oscillators and non-linear models to predict market trends effectively. By integrating finite differences and innovative oscillator equations, you can enhance your trading strategy's flexibility and profitability. Dive into advanced models like Elliott Waves and the Duffing Oscillator, each offering unique solutions for adapting to varying market conditions. These strategies provide traders with a robust framework for optimizing trades and achieving stable long-term results. Learn to harness mathematical models for strategic gains in robust algorithmic trading environments.

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #Trading

The implementation of the martingale strategy in expert advisors (EAs) based on signals from any indicator can significantly impact trading performance. This approach involves increasing position sizes following losses to potentially recover past deficits when a winning trade occurs. Careful consideration should be given to risk management, as martingale can lead to substantial drawdowns. It is crucial to ensure that the underlying strategy and signals provide reliable entries. Traders should thoroughly test and optimize the EA, possibly on historical data, to evaluate its effectiveness and adaptability across various market conditions. Caution is advised due to the inherent risks associated with this strategy.

👉 Read | Calendar | @mql5dev

#MQL4 #MT4 #EA

Discover how to enhance MetaTrader 5 development by seamlessly integrating custom indicators into Expert Advisors. This guide delves into creating subwindows and utilizing the iCustom command to maintain clear chart views without clutter. By exploring object-oriented programming principles like class inheritance, developers can extend existing functionalities securely and effectively. Learn to incorporate general-purpose indicators within EAs, enabling robust and modular trading solutions. This approach not only maximizes code efficiency but ensures tested components remain stable, allowing traders and developers to leverage sophisticated algorithmic trading strategies with minimal custom adjustments.

👉 Read | Forum | @mql5dev

#MQL5 #MT5 #EA

The Pending_tread Expert Advisor (EA) is engineered for automating grid-based scalping and breakout strategies with ease. It initializes a grid of pending buy and sell orders around the current market price, optimizing both for rapid market dynamics and stable execution on any time frame or currency pair, with a noted effectiveness on XAUUSD.

Key Features:
1. Configurable Grid: Establish customizable pending orders above and below the market with flexible order count settings, optimized by the PipStep for precise spacing.
2. Customized Orders: Choose between buy stop/sell limit above and sell stop/buy limit below the market price, ensuring strategic positioning.
3. Profit Management: Implement automated take profit levels in pips for each order, eliminating the need for manual supervision.
4. Risk Control: Modify lot size and slippage parameters to match risk...

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #EA