Traders often struggle to maintain discipline due to psychological pressures, risking their capital. A cutting-edge solution is the Risk Enforcement Expert Advisor (EA) for MetaTrader 5. This sophisticated tool is an unbiased overseer, not a signal generator. It strictly enforces predefined risk management rules, blocking any trades that defy set parameters. By capturing emotional overrides and preventing excessive trading behaviors, the Risk Enforcement EA provides an automated safeguard. Developers can leverage advanced MQL5 functions like OnTick and OnTradeTransaction to ensure consistent execution across all trading scenarios. This system bridges the gap between theoretical strategy and practical application, enhancing trading discipline effectively.

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#MQL5 #MT5 #EA

The continuation of the MQL5 series focuses on reading pre-saved candle data into an MQL5 program for utilization in indicators and Expert Advisors (EAs). With the data stored in a structured file, the process involves opening the file, extracting candle values, and organizing the information for use in indicators or EAs. This section emphasizes the seamless transfer of data from external sources into MQL5, enabling users to visualize candle data.

Building an indicator to visualize this data involves setting indicator properties, determining the display format on charts, deciding the required buffers, and defining display rules for candles. Configuring these properties ensures the indicator is prepared to process and display data efficiently.

The subsequent step involves reading the saved file to arrange data, focusing on candle times. File access o...

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#MQL5 #MT5 #Algorithm

In the latest article, the MetaTrader 5 library has been expanded to include refined MVC-based table classes, focusing on integrating the View component with the existing Model. The development introduces several classes like Table, Row, Cell, and Header, each interacting with the Panel object for graphical representation. Through these enhancements, the table model now seamlessly links with its visual counterpart, facilitating efficient data handling and display.

The approach employs CBound and CCanvas objects, allowing precise control over drawing coordinates and object sizes. This innovative setup simplifies table cell management, supporting features like sorting and repositioning. The refined structure ensures flexibility and maintains the integrity of graphical elements.

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#MQL5 #MT5 #MVC

The described alternative to the EAToMath library presents a streamlined approach to handling tick data for the MQ tester, highly relevant for developers managing significant data volumes in optimization tasks. Traditional MQ tester operations involve creating numerous tick data files, which leads to rapid SSD wear due to extensive write cycles. By employing this alternative library, developers can efficiently consolidate data into a single file, significantly reducing both write times and storage requirements.

This solution utilizes five essential plug-in libraries, which simplifies the codebase, making it easier to comprehend and modify. This approach also offers superior data compression, employing an optimized algorithm to achieve an average tick size of between 3.266 and 8.439 bytes, depending on the level of data included. This results i...

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#MQL5 #MT5 #AlgoTrading

Discover the essentials of developing a Market Structure Indicator in MQL5, drawing inspiration from Larry Williams' market swing concepts. This indicator identifies short-term, intermediate, and long-term swing points to provide a layered view of market trends, enabling traders to make informed decisions with clarity. By translating price movements into clear visual cues—using circles for short-term swings, double circles for intermediate points, and arrows for decisive long-term trends—this tool helps traders spot market shifts at a glance. Dive into the structured process of coding this indicator in MQL5, equipping both MetaTrader 5 developers and aspiring traders with practical algorithms for market analysis.

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#MQL5 #MT5 #Indicator

Transfer sensitive data securely in MQL5 by ensuring your Expert Advisor (EA) doesn't internally store critical information. Rely on secure retrieval from trusted servers using hybrid encryption methods. RSA and AES can be implemented directly in MQL5 without external libraries, overcoming the limitations and security risks of DLL usage.

Understanding RSA's roots reveals a cryptosystem founded on the intractability of factoring large numbers. Used widely in encrypting web traffic and securing digital communications, RSA is robust and forms a backbone for various secure systems. Despite ECC's emergence, RSA's long-standing security makes it a continued choice.

Implementing RSA in MQL5 involves creating an RSA class for encryption, incorporating big-integer arithmetic, and utilizing PKCS#1 v1.5 padding to ensure secure data transitions. Modular arithmetic is pi...

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#MQL5 #MT5 #EA

The development of a modified stochastic momentum indicator extends traditional concepts with enhanced insights into bar developments. This approach incorporates the analysis of open, high, low, and close prices, providing a comprehensive view of price movements. Two formulas guide the calculation: one showing absolute price movement, the other expressing it as a percentage relative to average values. Both are switchable via InpFormula parameter for flexibility.

The stochastic momentum evaluates how significantly the closing price diverges from the average of the highest and lowest prices over a specified period. Application isn't limited to the close; open, high, and low values can similarly be analyzed. Persisting above or below the center line signals trends, while line crossings may indicate directional changes. Querying the color buffer offers...

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Statistical arbitrage frameworks are evolving for retail traders, focusing on probabilistic rather than historical market notions. By leveraging statistical methods like cointegration, relationships between diverse assets can be identified and traded. The challenge remains in the stability of these relationships over time, necessitating continuous monitoring and adjustments in portfolio weights.

Implementing techniques like In-Sample/Out-of-Sample ADF validation and Rolling Windows Eigenvector Comparison enhance detection and assessment of asset relationships. These methods fine-tune portfolio management and risk analysis.

Our scripted automation aids backtesting these strategies, highlighting adjustments needed for optimal real-time trading execution. Emphasis is placed on dynamic updates of portfolio weights using tested parameters, ensuring that ...

👉 Read | AlgoBook | @mql5dev

#MQL5 #MT5 #Algorithm

Explore the next level of trading with our MQL5-based solution for dynamic support and resistance zones. This algorithm identifies these zones by analyzing market data in real-time, adapting as market conditions change. By transforming static lines into probability zones, it enhances trade execution and reduces uncertainty. Our approach integrates historical price analysis, identifying and marking extreme and average price reactions to reflect realistic market behavior. This innovative system allows traders to leverage consistent patterns while minimizing emotional trading decisions. Implemented through a tailored MQL5 indicator, it enables precise, real-time analysis, promising more informed and strategic decision-making for developers and traders alike.

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#MQL5 #MT5 #Algorithm

Enhance your trading strategy with this set of currency pairs and parameters tailored for analytical scenarios. Focus on EURUSD, EURGBP, and GBPUSD for effective cross analysis. Gather insights by setting the bar count to 5000, ensuring a comprehensive historical data review. Specify the start time at 00:00 to maintain consistency across trading sessions. This configuration allows for meticulous tracking of trends and market movements within the specified timeframe. Utilize this setup to refine decision-making processes by leveraging historical data patterns and align strategies with current market conditions.

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#MQL5 #MT5 #Forex

When evaluating the functionality of CopyTicksRange(), several challenges were identified with managing millisecond precision. Originally, the intention was to utilize CDateTime for its flexibility in adjusting time units through increment and decrement methods. However, translating milliseconds (ulong format as seconds since 1 January 1970 multiplied by 1000) proved difficult, as milliseconds alone do not convey precise dates. Utilizing CDateTime or TimeStruct allows for easy manipulation of time units, though the format can become disjointed and unclear.

To address this, a new CDateTimeMsc class was developed. This class, essentially a structure under Structures/Classes, inherits from the prior format and extends functionality to integrate milliseconds when precise times are needed. Furthermore, methods for incrementing and decrementing have been ad...

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#MQL5 #MT5 #Algorithm

The stochastic oscillator, a staple in identifying market reversals, traditionally signals overbought or oversold conditions. Historically, traders capitalize on selling opportunities when overbought and buying when oversold. Rethinking its capabilities reveals potential in trend-following, challenging conventional interpretations. With minor rule adjustments, the stochastic oscillator can effectively identify dominant trends.

The exploration of five stochastic-based strategies showcases versatile applications, with four demonstrating notable performance. By maintaining consistent parameters and randomizing execution delays, real-world trading conditions are mimicked. Emphasizing machine learning, custom features, and ONNX-worthy models, insights emerge, albeit with challenges like persistent noise. Enhancing trading with the stochastic oscillator ...

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#MQL5 #MT5 #Indicator