The previous article detailed the Crab Pattern system in MQL5, focusing on high-probability reversal points using harmonic patterns. Part 28 covers the Bat Pattern system, which identifies bullish and bearish Bat harmonic patterns. This system employs pivot points and Fibonacci retracements to automate trades with defined entry, stop-loss, and take-profit points, visually aided by chart elements like triangles and trendlines.

Understanding the Bat Harmonic Pattern involves recognizing a geometric formation signifying market reversals with swing points (X, A, B, C, D). The article explains the pattern framework through systematic geometric and Fibonacci requirements to identify valid Bat patterns, ensuring precise trade execution points.

Implementation in MQL5 involves using the MetaEditor to create a file, include the Trade library, managing trade ...

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #AlgoTrading

Explore the revolutionary MQL5 Algo Forge, a Git-based platform revolutionizing algorithmic trading development. It's more than a project list; it's a collaborative environment for developers. Equipped with powerful version control, it supports offline work, secure history backup, and easy collaboration. Key features include staging, commits, cloud synchronization, branching, and rollback. Integrated with MetaEditor, it simplifies complex version control tasks, focusing on efficient code writing and management. MQL5 Algo Forge caters to traders and developers seeking structured, reliable project management, enabling safe experimentation and teamwork with intuitive, user-friendly commands for seamless development experience.

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #AlgoForge

Explore advanced trend detection techniques in algorithmic trading detailed in the latest article, highlighting key strategies and calculation improvements. Learn about innovative enhancements to classic indicators like the moving average, including methods to minimize lag and improve trend accuracy. Discover the application of random component smoothing filters and empirical probability functions to identify key market movements. The article also delves into unique mathematical criteria such as Kendall and Foster-Stewart that offer robust trend detection capabilities. Gain insight into constructing effective trading strategies, leveraging these refined techniques to enhance algorithmic decision-making and optimize trading outcomes. Ideal for developers keen to integrate sophisticated analysis tools.

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #Trend

Databases offer organization, performance, and reliability—essential for complex algorithmic trading using MQL5. Moving beyond CSV files, databases enable structured, efficient access and manipulation of vast data through SQL commands. SQLite's integration with MQL5 provides powerful native functions for database management, from simple tasks like opening and closing connections to advanced operations like transactions ensuring data integrity. Introducing a mini-ORM, TickORM, streamlines these tasks by encapsulating database functions into intuitive entities and attributes, transforming trading strategies into robust, scalable systems. This approach strengthens your trading environment, enhancing both traders' and developers' workflows.

👉 Read | VPS | @mql5dev

#MQL5 #MT5 #Database

In advanced programming and IT systems, designing a stable communication protocol is essential. In a previous update, code adjustments were made to stabilize interactions between the mouse indicator and Chart Trade systems. A critical flaw required moving certain code lines to ensure proper response to user actions.

When planning a message protocol, converting numeric values to strings ensures clarity, prioritized over efficiency. Fixed-length arrays simplify indexing but waste memory if fields are underutilized. Alternatively, variable-length arrays avoid wasted space but add complexity and potential data loss when limits are exceeded.

In protocol design, variable-length blocks offer flexibility, but delimiters must be used for accurate data separation. The approach chosen combines alphanumeric strings with delimiters, allowing clarity and indexi...

👉 Read | Freelance | @mql5dev

#MQL5 #MT5 #AlgoTrading

The price increase indicator has been updated to correct a previous error in the calculation of margin and price changes. The update, effective from December 13, 2024, ensures accurate display and analysis of data, reflecting percentage changes accurately. Users who rely on precise margin calculations for decision-making can now implement this update to maintain reliability in their financial assessments. Ensuring accurate computations is crucial for consistent performance reviews. It is recommended for users to update to the latest version immediately to benefit from the corrected calculations and enhanced accuracy.

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #Indicator

Traders encounter inefficiencies during technical analysis due to inconsistent chart annotations across timeframes. Traditional platforms may support graphical objects like trendlines, but users often manage multiple charts separately, complicating synchronization. This lack of integration increases the risk of missing key analysis points and burdens the workload.

A chart synchronization system addresses these challenges by linking chart windows of the same symbol, ensuring that actions like zooming and symbol changes are reflected across all views. By maintaining hierarchy and style across timeframes, this system enables a cohesive analytical workflow, allowing traders to maintain accurate, consistent views for better decision-making.

Synced multi-timeframe charts promote streamlined efficiency. An architecture is developed where traders select a...

👉 Read | Quotes | @mql5dev

#MQL5 #MT5 #Indicator

Elevate your MetaTrader 5 reporting game with our refined EA update, seamlessly integrating MQL5 and Python. The enhanced system now delivers detailed, flexible trading reports with expanded metrics, visuals, and analytics. By leveraging powerful Python libraries, the EA exports a well-structured CSV and invokes Python for comprehensive analysis and PDF generation. Configuration and path validation are streamlined, ensuring robust data handling and automation. JSON-based communication solidifies reliability, and fallback mechanisms improve resilience. This tailored solution enhances traders' insights and adaptability, setting a new standard for algorithmic trading reports. Dive into automation and empower your trading strategies effectively.

👉 Read | AppStore | @mql5dev

#MQL5 #MT5 #EA

The article dives into automating data export from MetaTrader to Google Sheets using secure, cost-effective methods. It proposes using Google service account keys and a proxy server on the cloud platform PythonAnyWhere. By leveraging service accounts, developers can securely transfer trading data to Google Sheets for analysis, enabling the use of integrated tools like TradingView. PythonAnyWhere provides a reliable proxy server solution, functioning even offline and with scheduled tasks. This approach empowers traders to harness Google's data visualization capabilities without incurring extra costs or security risks, thus optimizing their trading strategies and decision-making processes.

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Trading

The complexity of modern markets calls for trading robots with enhanced flexibility and intelligence. By leveraging a modular system, developers can create sophisticated trading tools akin to a team of experts in various domains—trend monitoring, risk management, and volume analysis. Integrating Python for data handling and MQL5 for trade execution forms a robust foundation. Asynchronous modules enhance performance by processing multiple instruments simultaneously, with features like volume imbalance analysis and economic indicator forecasting. Effective in real markets, this system's modularity ensures it evolves with emerging insights and trends, offering traders adaptable, resilient algorithmic solutions.

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Python

A newly developed lightweight tool is now available for manual scalping in MT5, enhancing trading efficiency through keyboard shortcuts. It offers functionalities such as "1" for Buy, "2" for Close, "3" for Sell, and "5" for Break Even. Users can configure daily max loss, automatic Stop Loss (SL), and Take Profit (TP) settings. A compact on-chart dashboard displays all relevant information, allowing for swift adjustments through input parameters. This tool is engineered for rapid manual trading, with particular suitability for indices and futures trading environments.

👉 Read | AppStore | @mql5dev

#MQL5 #MT5 #Scalper

Candlestick patterns, rooted in 18th-century Japanese trading, offer insights into market psychology via price actions like open, high, low, and close. Patterns such as Three Black Crows or Doji provide signals on supply and demand dynamics, aiding in detecting reversals or continuations. Historically, these were robust in less efficient, low-liquidity markets due to the reliance on human decision-making. A project aimed to identify these patterns, graphically marking bullish with a green line and bearish with a red one. It utilized self-written code since previous libraries couldn't be adapted for indicators. This allowed a thorough reevaluation of detection functions. In the current landscape, institutional players couple candlestick patterns with complex strategies to gauge market sentiment, using machine learning and quantitative analyses. Despite...

👉 Read | AppStore | @mql5dev

#MQL5 #MT5 #Candlestick

Learn how Monte Carlo simulations can optimize trading strategies for MetaTrader 5 by identifying the minimum risk percentage necessary to achieve predefined profit targets. By examining systems with varying win-rates and reward-to-risk ratios, traders can determine the feasibility of their goals and adapt their risk management strategies accordingly. The analysis demonstrates how altering parameters like trade count, profit target, and risk per trade impacts success rates, drawdowns, and consecutive losses. Discover insights into achieving target growth efficiently and sustainably by understanding your system's statistical nuances, ensuring realistic and achievable trading objectives.

👉 Read | AlgoBook | @mql5dev

#MQL5 #MT5 #RiskManagement

The article discusses the development of a Gartley Pattern system using MQL5, which detects bullish and bearish harmonic trading patterns in financial markets. The system leverages specific Fibonacci retracements to identify high-probability reversal zones through pivot points. It automatically executes trades using dynamic entry points and multi-level take-profits, enhanced by visual elements like triangles and trendlines for clarity. This program not only visualizes these patterns but also trades them through a comprehensive framework, offering customization and full integration within MetaTrader 5. The system has been thoroughly backtested to ensure effective and reliable performance for algorithmic trading.

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #Trading

A CopyTrader bot is implemented with a focus on reliability and effective signal management. Initialization occurs via OnInit(), setting up an SQLite database, "CopyTrader.sqlite", with crucial tables like 'signals' for active signals and 'signals_history' for past data.

During the initial check function, all open trades are evaluated against a specified MAGIC_NUMBER. New qualifying positions trigger a "NEW" signal recording in the database while populating control arrays. The OnTradeTransaction() callback meticulously monitors any SL/TP (Stop-Loss/Take-Profit) adjustments. A detected modification prompts sending a "MODIFY" signal to the database.

When new positions are registered, the function checks if it's a buy or sell action, records the position, and stores relevant details. Closure of any trade leads to a "CLOSE" signal in the bank, and archived a...

👉 Read | Forum | @mql5dev

#MQL5 #MT5 #EA

Dive into the essential metrics for evaluating trading strategies: the Sharpe and Sortino ratios. The Sharpe ratio, developed by Nobel laureate William F. Sharpe, offers a robust measure to compare investment portfolios by calculating returns over risk using basic financial metrics. It’s ideal for gauging performance but hinges on the normally distributed return assumption. The Sortino ratio refines this by focusing on downside risk, giving a clearer picture of strategic performance without penalizing positive volatility. These tools, adaptable across various timeframes and assets, empower traders and developers to make informed decisions by accurately assessing risk versus reward in trading environments.

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #Strategy

A new indicator has been developed for MT5 that generates trade server disconnect alerts through multiple channels: pop-ups, sounds, push notifications, email, and chart label text. Additionally, it offers printing to the Experts tab. Users are advised that if ExpertsTab is enabled alongside another alert that also prints to the Experts tab, this may lead to duplicate data entries. This feature ensures comprehensive coverage of server status for traders, aiding in quick response to any disconnection issues. Traders can configure their preferred alert methods to stay informed about server connectivity status.

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Indicator

The article dives into enhancing MetaTrader 5 library classes for improved graphical object handling. Enhancements include adding new enumeration constants for symbol properties, implementing interaction properties in form objects, and refining mouse event handling. These improvements enable dynamic interaction with form objects, allowing developers to assign custom behavior based on mouse actions. The manuscript further outlines transitioning computational tasks from complex indicator setups to streamlined code segments, enhancing chart responsiveness during trading operations. This adaptation provides traders and developers a more efficient algorithmic trading framework, promoting precise control over graphical object manipulation and fostering seamless integration into existing trading strategies.

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #Programming

Presenting an advanced approach for handling candle data in indicators with a focus on high tolerances. This technique leverages the highs of two consecutive candles to establish a tolerance level. It is particularly useful for traders and analysts looking to fine-tune their market entry and exit strategies based on historical price fluctuations.

Integrating this method into your technical analysis toolkit offers the potential for increased accuracy in predicting market movements by considering immediate past price actions. It empowers users to adopt a data-driven approach, optimizing decision-making processes while accommodating market volatility. This solution is valuable for enhancing traditional analytical models in trading environments.

This method promotes informed decision-making through precise market analysis.

👉 Read | Quotes | @mql5dev

#MQL4 #MT4 #EA