In this latest installment of the MQL5 series, we explore a significant advancement in algorithmic trading by integrating manual chart analysis with automated trade execution. The article covers the development of an Expert Advisor (EA) that utilizes chart objects like rectangles and trend lines to make trades, bridging the gap between automated and discretionary trading. By drawing these elements on your chart, the EA dynamically adjusts to price movements, executing trades when the price engages with identified zones. The article details how to programmatically detect chart objects, allowing the EA to adapt instantly to any manual changes, enhancing both its flexibility and precision.

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Dive into algorithmic trading with an exciting innovation in MetaTrader 5! This article presents a streamlined approach to Fibonacci Retracement analysis using an Expert Advisor (EA) designed for ease and efficiency. Traders can forget about the confusion of manually applying Fibonacci tools—our EA simplifies the process by allowing you to input swing high and low values directly on the chart and automating the plotting of retracement and extension levels. It delivers real-time alerts when prices interact with these levels, transforming static analysis into a dynamic, interactive experience. The EA is meticulously detailed to ensure clear visualization and seamless usability, making it an invaluable tool for developers and traders alike.

👉 Read | Signals | @mql5dev

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The tool offers a detailed view of price levels for simulated trades, with user-defined Take Profit (TP) and Stop Loss (SL) values set as percentages. It supports both Buy and Sell directions. Users can benefit from access to concise statistics including an hourly entry breakdown, allowing better analysis and decision-making. This structured presentation of trade parameters and statistics aids in evaluating potential outcomes and optimizing trading strategies. A useful resource for strategic planning and review of projected trade scenarios.

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Two new display modes have been added for enhanced data representation: as a comment in the upper left corner of the chart or as a graphical object. Users can select font type and size to meet individual needs. Graphical objects are easily movable with a double-click, allowing for repositioning without disrupting data updates. Visual notifications are also customizable; a predefined time can be set to change color and alert users before the current bar closes. Additional settings include selecting the time to display, customizing colors for graphical objects, and configuring alerts for upcoming bar closures. This update aims at providing a flexible and user-friendly interface for improved chart analysis and usability.

👉 Read | Signals | @mql5dev

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The fractal indicator now allows for customization by setting an arbitrary number of bars on both sides of the center bar. This flexibility enables the creation of varied fractal structures. By adjusting the number of bars, users can tailor the indicator to meet specific analytical requirements. This feature enhances the utility of the fractal indicator, making it adaptable for diverse trading strategies. Such customization can help in identifying potential market reversals or trend continuations with improved precision. This development signifies an important step forward in technical analysis, offering more detailed insights for informed decision-making.

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Candlestick patterns offer simplicity for traders, but traditional charts often miss critical movements due to rigid timeframes. Introducing "metabars," which span multiple bars, allows for more dynamic chart interpretations. This innovative approach harnesses modern computing power to seamlessly identify compound patterns, like Doji candlesticks, leading to improved trading signals. With customizable metabar parameters, traders can capture more potential reversal signals that conventional methods miss. This advancement not only enhances pattern detection but also adapts to various market conditions. By utilizing this strategy, developers and traders can achieve a deeper, more nuanced understanding of market dynamics, optimizing algorithmic trading outcomes.

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Reverse Engineered RSI integrates traditional RSI values—30, 50, and 70—onto the price chart rather than the oscillator window. This placement directly correlates RSI levels with market prices, allowing traders to observe overbought, oversold, and equilibrium zones in real-time alongside price action. Such visualization aids in identifying support, resistance, and potential reversal points without needing to toggle between different views or rely solely on the underlying momentum data. This tool streamlines analysis by presenting RSI data within the context of the price movement, facilitating more effective decision-making in trading.

👉 Read | CodeBase | @mql5dev

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Understanding the Price Action Pin Bar indicator can enhance trading strategies by identifying potential reversals. The indicator identifies Pin Bar patterns and marks them with arrows on the chart, signaling potential buy or sell opportunities. Patterns are identified based on specific formation rules, and an auxiliary indicator is suggested for filtering signals, such as an indicator of key levels.

There are four key adjustable parameters: the minimum size of a candle, maximum size of the candle body relative to its shadows, position of the body relative to the previous candle, and the aspect ratio of the shadows. Each parameter assists traders in refining the output based on market conditions.

To ensure the indicator captures relevant patterns, it analyzes the positions and dimensions of candlesticks. Signal arrows are then placed on the current bar...

👉 Read | Calendar | @mql5dev

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Developers working with trading platforms might require a way to clear clutter from their charts. This script efficiently removes all auto-trading icons, such as arrows and connecting lines, while preserving the display of trading history. It provides a temporary solution, allowing auto-trading icons to reappear if the mode remains active. The utility is particularly useful for decluttering the object list accessible through the shortcut (Ctrl + B). It offers a streamlined approach without altering long-term chart settings, ensuring a clean workspace for those who wish to focus on specific chart details without permanent changes.

👉 Read | Calendar | @mql5dev

#MQL5 #MT5 #script

In computational tasks, arrays serve as the backbone for ordered data collections, enabling efficient access to elements using indices. They are crucial in solving linear algebra, mathematical modeling, and machine learning problems through operations on matrices and vectors. Such tasks demand mathematical proficiency and the ability to manage complex loops. Advanced data types like 'matrix' and 'vector' facilitate code that resembles mathematical notation, reducing reliance on nested loops.

In MQL5, vectors are one-dimensional, comprising double-type arrays, and support operations like addition, multiplication, and norm calculation. Conversely, matrices extend this structure into two dimensions. Operations such as element-wise arithmetic, matrix multiplication, and various forms of decomposition are supported, including LU, QR, and SVD. Understanding t...

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#MQL5 #MT5 #Algorithm

The US Dollar Index (USDX, DXY) is an essential tool for evaluating the US dollar's strength against six major global currencies. Its calculation uses a weighted geometric mean based on exchange rates: EURUSD, USDJPY, GBPUSD, USDCAD, USDSEK, and USDCHF, with each currency assigned a specific weight. The historical base coefficient involved is 50.14348112. This service provides a synthetic instrument, USDX.synthetic, that continuously updates by recalculating the index based on live currency quotes. It operates continuously, refreshing data every tenth of a millisecond, ensuring the dollar index always reflects current market conditions. Users benefit by being able to analyze the index chart within MetaTrader 5, applying it in indicators, and developing trading strategies that leverage the value of the US dollar. The service enhances the ability to assess dollar...

👉 Read | Calendar | @mql5dev

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The MetaTrader 5 platform, augmented by the MQL5 Wizard, empowers traders to efficiently prototype trading strategies without deep coding expertise. This modular framework enables selection of predefined signal classes and money management strategies, fostering broader access to algorithmic trading. In exploring extended applications, machine learning, notably the Beta-Variational Auto-Encoder (beta-VAE), is utilized to enhance pattern recognition and decision-making. By transforming binary indicator values into latent representations, beta-VAE uncovers hidden patterns and supports inference-based trading decisions. This results in improved pattern detection, helping traders adjust strategies for differing market conditions, thereby enhancing market liquidity and trading efficiency over time.

👉 Read | AlgoBook | @mql5dev

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Genetic algorithms are pivotal in solving optimization problems by leveraging processes akin to natural evolution. The Royal Flush Optimization (RFO) algorithm offers a streamlined approach to these challenges. By representing the search space as discrete sectors, akin to poker card ranks, RFO eliminates the costly conversion of real numbers into binary form, enhancing computational efficiency.

Implementation of RFO involves abandoning conventional binary encoding and instead, assigning sectors values similar to poker cards, ranging from jack to ace. This simplifies calculations while maintaining genetic algorithm properties. Operators like crossover and mutation directly manipulate these "hands," facilitating a more intuitive exploration of the search space.

Test results demonstrate RFO’s potency with performance measured on established benchmar...

👉 Read | AlgoBook | @mql5dev

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This post discusses an Expert Advisor (EA) that leverages Heikin Ashi candles for trading. By smoothing price action, it reduces noise and clarifies market direction. The EA identifies strong trends, minimizes false reversals, and facilitates informed trade management.

The tool integrates Heikin Ashi candles, promoting a clear trend visualization by eliminating random noise. It trades selectively, responding to apparent Heikin Ashi trend shifts and incorporates customizable settings to align with user strategies.

It features intelligent trade management, exiting trades on trend reversals and using equity/profit controls to manage risks. Benefits include clear trend detection, suitability for any currency pair or timeframe, automated execution, reduced emotional bias, and customizable settings for different trading styles.

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Navigating the complexities of developing robust MetaTrader 5 Expert Advisors can be daunting, especially when faced with the vast MQL5 Standard Library. This article demystifies the integration of classes within this powerful toolkit, offering clear steps and analogies to enhance your architectural understanding and practical skills. By treating the Expert Advisor as a central system, akin to a brain coordinating its organs, developers can better visualize how specialized modules like CTrade, CIndicators, and CAccountInfo interact. Master the art of modular integration, from class inclusion to runtime management, and elevate your algorithmic trading systems with a professional-grade framework.

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Explore the Dynamic Swing Architecture system, designed for precision in algorithmic trading by detecting swing highs and lows in real-time. This robust system automates trades based on market structure shifts, enhancing consistency and reducing emotional decision-making. It evaluates price action continuously, adapting to volatility changes and ensuring that traders stay aligned with the market rhythm. Developers will appreciate its configurability, including risk management options and visual feedback through charted swing points. This sophisticated framework offers traders a powerful tool for executing structure-based strategies effortlessly, merging human market intuition with precise algorithmic execution to create a highly adaptive trading process.

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In the rapidly evolving landscape of financial trading, adaptation is key. Traditional rule-based systems struggle with market variability, while reinforcement learning systems have high data demands and lack transparency. Enter FinAgent, a paradigm shift in algorithmic trading. FinAgent leverages multimodal large language models (LLMs) for dynamic decision-making, integrating textual and visual market data into its framework. Key components include a two-tiered reflection module for short- and long-term decision analysis and a memory module for precise data retrieval. The decision-making module draws on expert knowledge, optimizing trading strategies through comprehensive market analysis. Implemented in MQL5, FinAgent exemplifies the fusion of advanced data processing with actionable insights for traders and developers.

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The Greatest Swing Value (GSV) concept, detailed by Larry Williams in his work on short-term trading, provides insights into daily price movements. GSV examines the daily oscillations from the opening price to identify the controlling market forces. Monitoring the cumulative open-to-low (selling pressure) and open-to-high (buying pressure) swings over several days reveals the average movement direction.

An open-to-close swing surpassing this average suggests potential signaling. This indicator is versatile, thanks to its MultiTimeFrame design, defaulting to Daily. For greater relevance to specific trading strategies, settings allow recalibration based on the current chart timeframe for accurate analysis, adapting to varying market conditions and timeframes.

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Part 25 of the MQL5 series introduces the development of an Expert Advisor (EA) to automate trading by identifying trend lines for signals. Unlike the previous focus on support and resistance zones, trend lines are used to assess market direction and breakout points.

The EA requires the user to manually draw two trend lines and name them appropriately. It can handle both breakout and reversal trades, setting stop-loss and take-profit levels based on the latest candle's data. By processing the last five candles, the EA detects if a price breaks or reverses from a trend line, ensuring relevant market moves. The use of trend line names and chart IDs enhances precise monitoring and engagement, avoiding unnecessary trades.

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A new version of the classic repaint zigzag indicator allows viewing higher timeframe zigzags on a lower timeframe chart with added functionality. Version 1.01 enhances convenience by providing an option to process the current timeframe in single-timeframe mode when "current" is selected in the timeframe input. This update improves accessibility for users monitoring multiple timeframes. There's no change in core functionality, preserving the original intent while adding a flexible viewing capability. This indicator remains straightforward, offering a simple solution for those needing to analyze zigzag patterns across different timeframes efficiently.

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An indicator analyzes the count of one-direction movements within a selected period. Similar to Renko charts, it considers both directional movements. It assists in identifying consolidation zones, facilitating breakout strategies. This tool enhances analytical capabilities by offering insights into market behavior patterns not apparent in traditional charts. Users can leverage this to improve strategy precision and anticipate potential breakout points, making it a valuable addition to comprehensive market analysis frameworks.

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