An Expert Advisor (EA) has been recently upgraded to offer a broader range of functionality. Designed for currency pair modifications, the EA permits changes to the variable values related to Take Profit (TP), Stop Loss (SL), Trailing, Closing, among others.

It's noteworthy that the EA doesn't operate on specific Magic Numbers, a feature that makes it adaptable to orders placed via mobile devices.

Modified features of this EA are noteworthy. The layout is divided into three strategically organized buttons. It enables automatic closure of all orders upon achieving the set profit, subject to the parameter values under "CLOSE IF PROFIT-xxxx". An input of 0 implies non-activation, while a value of 100.0 prompts the orders to close automatically upon reaching a profit of $100.

In contrast, orders automatically close upon reaching a deficit determined by the input under "CLOSE IF LOSS-xx...

Read more...

In an incisive examination, this article outlines the value of leveraging candlestick patterns in automated trading. Understanding the patterns of candlesticks can assist in predicting potential market movements. The article delves into specific single and blended candle patterns, and how to apply MQL5 for auto-detection of these patterns in MetaTrader 5.

It emphasizes the importance of using these patterns in synergy with other technical tools to generate credible signals. This includes integrating Doji and Hammer patterns in diverse timeframes. The ability to write a program that can continuously monitor Doji patterns is explored, underlining it as an essential part of an effective trading system.

Notably, the Hammer pattern analysis demonstrates that candlestick appearances can vary significantly across multiple timeframes. Therefore, these patterns become particularly meaningful...

Read more...

A focused approach towards extracting the most recent closed trade data can be achieved with the given block of code, eliminating the need for operating in leveraged loops. Optimization may be realized through the establishment of a specific variable assigning the start time of the present day, although this step remains optional. Further optional enhancements include the institution of supplementary variables destined for chart output curation and the generation of additional code blocks.

To witness the results in real time, it is suggested that this code be applied within the OnTick() function which will display outcomes with every tick occurrence. However, this restriction can be modified to make an appearance once per bar, as per user preferences.

Moreover, a comprehensive study of the entire trading history, right from inception, may be procured through the effective usage of...

Read more...

Examining a vexing challenge when working with MetaTrader 5: causing changes in element behavior using MQL5. The goal is to share avenues of transformation on source code allowing modularity in the system. The coding journey presented is not a bed of roses; the codes viewed are mere modifications and not original versions. The crossroad in sight: revealing unaltered coding or a variation closer to the daily use; otherwise, the future of the replay/simulation system project is uncertain.

Solving this challenge doesn't solely involve writing code—it entails instilling knowledge enabling you not only to utilize the system but also modify it, honing it to meet your needs. Thus, granting you the power to conduct your analysis independently. The beauty of this step-by-step process manifests in the tailored behavior of the programming and the creation of a comprehensive system using a low n...

Read more...

A fresh take on the tried-and-true Relative Strength Index (RSI) is available to discerning developers. Utilizing the underlying principles intrinsic to RSI’s functionality, it focuses primarily on depicting accurate market momentum.

However, the distinctive forte of this revamped indicator is its capacity to filter out market noise that commonly triggers false signals. Its refined ability promises to pinpoint only authentic market fluctuations, thereby boosting its dependability.

Usage guide: Employ this advanced indicator akin to a traditional RSI - identify divergences, train it on upward/downward movements or harness its prowess to highlight oversold/overbought terrains.

A couple of professional suggestions: Opt for custom adjustments to the Signal Period and Rate of Change Period based on personal strategy. Rigorous back testing is recommended prior to deploying it live. Al...

Read more...

Expanding on the prior discussion of APIs and RestAPIs, the forthcoming content applies these principles to a practical example: developing functions in MQL5 for HTTP calls, and integrating these with RestAPI capabilities for efficient interaction with an external environment. To further illustrate these concepts, a Python Tic-Tac-Toe game serves as the example. Crucial MQL5 functions will be established to effect communication with the game's Python API. This will further be supplemented by discussion on API development via FastAPI and the application of a test script in MQL5 for interaction with the game’s API.

This final step brings the entire process, from theoretical concept to the practical application, together to demonstrate the applicability of these technologies in the building of innovative solutions. This is part of a wider exploration of the role of MQL5 functions and Fa...

Read more...

Expanding on the functionality of the MQL5 wizard, this text discusses how the tool can be usefully employed for the rapid creation and testing of expert advisers and trading systems, particularly with regard to multi-currency trading. Multi-currency trading can serve to mitigate risk concentration, offering the opportunity to capitalize on cross-market trends and opportunities.

This text also presents templates for the MQL5 Wizard for two scenarios. The first scenario modifies the classes used in the MQL5 Wizard to assemble an expert advisor that analyses and opens parallel positions across multiple currency pairs to mitigate risk exposure. The second scenario creates a 'Select' function that relies on the correlations of the symbols within the trade portfolio to capitalize on cross-market opportunities.

In addition to setting up these templates, you need to make some key modific...

Read more...

Unravel the intricate world of the combinatorial algorithm of the GMDH (Group Method of Data Handling), commonly known as COMBI. Serving as the foundation for more complex algorithms, COMBI operates on input data represented as a matrix encompassing observations over variables. This deep dive into COMBI outlines its unique computation and how to implement Combinatorial Selective algorithm in MQL5.

The number of nodes in COMBI's single layer is determined by the number of inputs, with each node representing a candidate model defined by one or more of the inputs. Models are then selected based on the minimal value of their performance criteria. The article offers a glimpse into COMBI's implementation in MQL5 and highlights its linear model forms.

We cannot overlook the comprehensive nature of COMBI's algorithm, which ensures the retrieval of the optimal polynomial. However, broad se...

Read more...

Are you a code enthusiast looking to learn the ropes of indicator codes? Here's a simple approach to get started. Use this uncomplicated indicator code. It's manageable for beginners, useful for seasoned coders and serves as a practical tool in manual backtest.

Employ this method by just shifting a vertical line in order to display or conceal bars. Simply apply the indicator to the chart and include a Vertical Line object titled "VL". Voila! Now watch it efficiently functioning on Oncalculate().

Relocate the line to the left or the right on the chart to camouflage or reveal bars on the right side. It's a straightforward strategy and an efficient way to kickstart your journey into code. You'll not only learn, but also have a sturdy reference for backtest.

Read more...

Delving into the realm of mathematical expectation in trading can unravel various levels of strategy efficiency. This complex layer of trading systems can throw light on the probability of a game's return, as the example of a mutually profitable game is discussed to demonstrate the workings of mathematical expectation in calculating gains and losses.

How much would you invest in a game which gives you the potential for limitless profits? Though it sounds enticing, it is critical to grasp the inherent risks involved. The game considered here displays a classic case of the 'St. Petersburg paradox' which needs to be navigated thoughtfully.

Interestingly, the concept of moral expectation proposed by Daniel Bernoulli in 1738 urges you to maximize not just the expected payoff, but the utility of the payoff for the player. He asserts that wins hold different values for different players ba...

Read more...

In a recent development, an expert advisor has been designed, incorporating two significant indicators - the Alligator and Bollinger Bands. Intended for application within the foreign exchange market, it specifically targets the GBP/AUD currency pair. Operating on a time frame of 15 minutes, the regime of operation for this advisor maintains a rigorous short-term analysis structure. Leveraging the strength of both the Alligator and Bollinger Bands indicators, it successfully amalgamates trend identification with volatility measurement. End users can anticipate detailed, reliable metrics to bolster their trading decisions.

Read more...

As a leading developer, the exploration of repeated indicator duplication prevention on MetaTrader 5 continues. Practically, this is to ensure the single instantiation of particular indicators in MetaTrader 5 and avoid any unintended duplication. The narrative provides a detailed, step-by-step process for coding to achieve this, ensuring the interaction between the indicator and Expert Advisor works seamlessly.

From providing control points in indicator code to modifying the Expert Advisor code accordingly, a sequential narrative unfolds for the user. Additionally, observably unorthodox programming choices like the use of NULL and PERIOD_CURRENT in this tutorial gain context when explained, highlighting the complex layer of interaction both intra and inter-system.

Accuracy is stressed while passing parameters with the correct data type to avoid runtime errors. Also emphasized are ...

Read more...

Visual depiction of market data is a fundamental element of trading tactics. An often overlooked tool that enhances these visual analyses is the MQL5 indicators. Based on mathematical calculations and algorithms, these indicators help traders recognize lucrative opportunities by statistically interpreting market behavior. They can be directly applied to price charts, supplying user with valuable insights into market dynamics. In a series of articles, the creation, customization, and application of MQL5 indicators will be examined in the context of MetaTrader 5 enhancement. The goal of these articles is to provide you with the knowledge on creating MQL5 custom indicators that match your trading goals.

Read more...

For developers and IT experts, here's a new expert advisor that may be worth your attention. The advisor uses three indicators - a simple moving average, standard deviation, and RSI - to identify price reversals.

Consider a buy signal. This is issued when the opening price falls below the moving average (diminished by 2-standard deviations) and the RSI is below oversold value. Further, the closing price must exceed the moving average (less 2-standard deviations) and the RSI must ascend past the oversold signal. Here, the take profit equates to the asking price increased by 2-standard deviations, and the stop loss is the asking price less the standard deviation.

Conversely, a sell signal arises when the opening price overshoots the moving average (plus 2-standard deviations) and the RSI is overbought. Additionally, the closing price must be less than the moving average (increased by ...

Read more...

Understand the mechanism behind the creation of custom indicators with drawings, made using standard library's CCanvas class. Uncover the reasons why CCanvas surpasses other methods, the essential chart properties needed for coordinates calculation, and the transparent indicator creation process. Addressed topics include the enhanced adaptability of Canvas, the necessity of chart window properties for custom charts, and DRAW_FILLING with the added transparency feature.

Examine the properties of CHART_WIDTH_IN_PIXELS, CHART_HEIGTH _IN_PIXELS, CHART_PRICE_MAX, CHART_PRICE_MIN, CHART_SCALE, CHART_FISRT_VISIBLE_BAR and CHART_VISIBLE_BARS to comprehend their role in forming a custom chart. Witness how chart changes impact these properties.

Accomplish a deeper comprehension of coordinates conversion and its role in the chart window properties through practical examples. Further, the asso...

Read more...

In the expanding realm of financial technology, flexibility and adaptability are key. The discussion revolves around a versatile tool that seamlessly integrates with your expert advisor (EA). It operates across all assets and markets with ease. The encompassing scope of this tool allows it to function universally. Once plugged into your EA, it streamlines operations and optimizes trading strategies. In a fluctuating financial ecosystem, having a versatile tool can make a substantial difference. A well-integrated system presupposes efficient management of trades across varied asset classes and markets. This tool exemplifies innovation and efficiency, signifying a new benchmark for trading algorithms. Remember, in the world of digital finance, adaptability is everything.

Read more...

Reinforcement learning algorithms are reliant on reward policies but in reality, rewards do not follow every action. In trading, for instance, a reward is only received once a position is closed. Therefore, establishing how each action contributes to the overall result can be complex. Looking towards human behavior and the role of curiosity in learning could provide new approaches to structuring reward policies and model training processes. A method based on incorporating "curiosity," or the error in the model's ability to predict actions consequences, was applied in a study in 2017. This “intrinsic” reward encourages exploration and can help overcome challenges such as rare extrinsic rewards, training without rewards, and generalization to new scenarios. This approach has shown effectiveness in computer games and demonstrates the potential for transferability to trading. By applying ...

Read more...

An innovation in trading indicators has arrived, adding new methods to the conventional indicators on MetaTrader5. Building on the Bollinger Bands indicator, the new addition brings on board exponential, smoothed, and linearWeighted methods to the existing simple moving average technique.

To use this new tool, it has to be placed in a specific directory. For Windows users, this will be a path similar to C:\Users\lucas\AppData\Roaming\MetaQuotes\Terminal\Indicators\Examples.

One of its unique features is its default setting at zero. There's also an example of execution which opts for LinearWeighted average. The code extends the capabilities of standard indicators, offering users a more comprehensive approach to data analysis.

Read more...

Leveraging the classic trading fundamentals, the strategy uses various refined indicators for different markets and exchanges. The approach relies on the combined usage of several indicators, some modified for better performance. Owl Smart Levels, an indicator fusing all crucial parameters, unveils the interaction of the trading system's components. The utilitarian design of this comprehensive trading system makes it a ready-to-use tool for following this profitable strategy.

Break-up of the system:

1. Profitable trading involves correct trend determination.
2. Understanding the difference between global and local trends.
3. Choosing the most suitable trend-following trading practices.
4. Detailed understanding of the tools of the Owl strategy.
5. Execution of the strategy and determination of stop loss, take profit levels.
6. Usage of additional tools and determining the entry poi...

Read more...

Unraveling the significance of geometric mean in mathematics: It serves as an average that expresses the central tendency of a finite set of real numbers. Unlike the arithmetic mean that utilizes the sum of these numbers, the geometric counterpart deploys their product.

Primarily, geometric mean is quite beneficial for computing sets of numbers either designated for multiplication or exhibit an exponential character, for instance, population growth figures or financial investment's fluctuating interest rates.

In terms of benchmarking, it excels in calculating speedup ratio means. To understand better, consider a combination of 0.5x (half as fast) and 2x (twice as fast), the mean derived will be 1 (implying null speedup).

Geometric mean is indeed more effective than arithmetic mean in defining proportional growth, be it constant or varying. Within the business sector, geometric m...

Read more...

Continuing from the previous insight into the potential of category theory in complex systems, the concepts of spans, experiments, and compositions emerge as significant tools. These elements offer intensified, adaptable reasoning about systems and can drive the development of advanced trading strategies.

In-depth knowledge of the underlying financial market structure through category theory can equip traders with novel insights, enabling the crafting of intricate portfolios and efficient risk management strategies.

In terms of category theory, a span is a construction that interconnects three objects and two transitions between them. It facilitates the comparison of two paths or viewpoints and allows a broader analysis of the system. Pullbacks, a type of limit where objects are interconnected by a pair of morphisms, play an essential role in various areas of mathematics and scien...

Read more...