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

Explore the advanced components of the MASA architecture—a multi-agent system designed for optimizing investment portfolios using reinforcement learning. The framework's innovative approach integrates three distinct agents: a reinforcement learning agent for maximizing returns, a market-observer agent for risk assessment, and a controller agent for action optimization. Unique to MASA is its ability to adapt dynamically to market changes by splitting responsibilities among agents, fostering balanced portfolio strategies. The architecture's novelty lies in its composite structure and risk-managed trading strategies, ideal for developers and traders aiming to enhance algorithmic trading systems and understand complex financial market dynamics efficiently.

👉 Read | Freelance | @mql5dev

#MQL5 #MT5 #RL

The article delves into developing a communication protocol to enhance MetaTrader 5’s Chart Trade indicator, enabling it to instruct an Expert Advisor (EA) for market actions. The challenge lies in the platform's restriction where indicators can't manage orders directly. The key focus is on designing a message protocol, crucial for seamless indicator-to-EA communication. It covers fundamental coding techniques, including memory management with manual class instantiation using 'new' and 'delete'. The expert explains message encoding and decoding using strings in the protocol, highlighting the importance of correctly structured assignments to prevent data misalignment. The article emphasizes developing modular applications over monolithic systems.

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#MQL5 #MT5 #ExpertAdvisor

Enhance analytical strategies with the Moving Average (MA) crossover indicator. This tool precisely identifies potential buy and sell signals by observing the intersection of different moving averages. Typically, a short-term MA crossing above a long-term MA signifies a buying opportunity, whereas crossing below may suggest a selling point. Implement this concept to refine strategic entries and exits in trading activities.

Ensure your chosen timeframe aligns with strategy objectives, as this affects signal reliability. Regular review of market conditions in conjunction with the indicator optimizes decision-making. Analyze and adjust the parameters to meet specific trading requirements. Proper implementation can lead to better market insight and improved trading outcomes.

👉 Read | AlgoBook | @mql5dev

#MQL4 #MT4 #Algorithm

Explore the world of algorithmic optimization with the Black Hole Algorithm (BHA), inspired by the cosmic phenomena of black holes. This algorithm excels by attracting optimal solutions while discarding less effective ones, providing robust solutions for complex function optimization and machine learning hyperparameter tuning. It offers simplicity with minimal parameters, making it accessible yet powerful for developers. Test results show it outperforms its initial version, eliminating local optima traps for reliable convergence. This innovative approach balances exploration and exploitation, making it suitable for intricate multi-extremal problems, promising enhanced efficiency and application in diverse computational scenarios.

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Algorithm

The financial markets rely heavily on understanding what lies beneath price charts. Order books reveal the realities of buy and sell pressures, impacting price movements. Retail traders often lack access to these insights due to platform limitations, generally relying on meta-platforms like MetaTrader 5. The Slippage Tool bridges this gap.

Designed for MetaTrader 5, it uses tick data to simulate essential order book signals. The tool reconstructs insights like VWAP for trend identification, tackles imbalance to reveal directional pressures, evaluates spreads to understand cost and liquidity, and analyzes flow for short-term sentiment. These features equip traders with actionable data for better entry timing and risk assessment, aiding more precise trading decisions.

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#MQL5 #MT5 #Trading

Logify is a logging library tailored for MQL, facilitating efficient debugging, tracking, and monitoring in expert advisors (EAs) and indicators. It delivers structured and customizable logs either directly on the chart or within the terminal, supporting varied log levels such as DEBUG, INFO, ALERT, ERROR, and FATAL. The library allows users to manage log formats flexibly and choose from multiple handlers including charts, console, files, and databases.

The library's modular architecture makes integration straightforward. To incorporate Logify into your MQL project, copy the Logify folder and include it in your EA, indicator, or script. Follow quick start examples for implementation with default or custom settings. Diverse handlers like Comment, Console, File, and Database ensure adaptable log display and storage. Logify supports token-based log format...

👉 Read | Freelance | @mql5dev

#MQL5 #MT5 #Logging

Explore the practical implementation of the MVC pattern in MetaTrader 5, focusing on the separation of code into Model, View, and Controller components. The article introduces the Model as the decision-making core, processing input data and maintaining independence from frequent changes. The View handles visualization, showcasing how data is represented on charts. The Controller bridges the user interaction with the Model and View, ensuring smooth data flow and integrity. Learn how to manage input parameters effectively, validate them, and design interfaces that facilitate seamless information exchange between components. Discover the potential for expanding functionalities, adhering to best practices in code organization, and enhancing the robustness of trading applications.

👉 Read | AlgoBook | @mql5dev

#MQL5 #MT5 #MVC

Automated trading systems often leverage strategies like the average crossover to identify potential entry and exit points in the market. This technique involves monitoring the interaction between moving averages, typically a short-term and a long-term average, to generate buy or sell signals. Such EAs execute trades based on predefined parameters, which removes emotional decision-making from the trading process. It's crucial for traders to test these systems in different market conditions to ensure their robustness. While average crossover EAs can be effective, they require fine-tuning and optimization to align with individual trading styles and risk management preferences.

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#MQL4 #MT4 #EA

The article explores the implementation of a trading strategy using the Momentum indicator within MetaTrader 5. Momentum, an important tool for traders, measures price velocity, aiding in identifying trend strength and direction. The article outlines the calculation methods for Momentum, both by subtraction and division, with emphasis on the latter used in MetaTrader 5. A simple Momentum strategy is proposed, focusing on crossover signals around the 100 level for buying and selling. It includes a detailed blueprint for coding this strategy into a trading system using MQL5, enabling automated signal generation, enhancing trading efficiency and decision-making.

👉 Read | AlgoBook | @mql5dev

#MQL5 #MT5 #Momentum

MetaTrader 5 build 5260 provides improvements to MQL5 Algo Forge, our Git-based project management platform: faster Git operations, more reliable modification checks, and new comprehensive documentation to help you explore, fork, and collaborate on algorithmic trading projects.

The MQL5 update introduces expanded OpenBLAS support with new matrix balancing methods and stricter inheritance rules, which make code safer and more predictable.

We've also added terminal translation into Irish, making the platform accessible and user-friendly for native speakers.

Read more...

Implementing code to draw triangles on a chart assists in detecting harmonic patterns and visually plotting them. This technique can be extended to include the plotting of rhombuses and parallelograms, providing additional flexibility in geometric representation. Utilizing these shapes enhances the ability to clearly display detected patterns on charts, aiding in pattern analysis and verification processes. By adapting this approach, developers can accurately reflect complex structures, which can be crucial for detailed analytical frameworks and systems. Efficient code execution ensures reliable visualization of both triangular and quadrilateral figures, supporting advanced pattern detection methodologies in technical analysis.

👉 Read | NeuroBook | @mql5dev

#MQL4 #MT4 #AlgoTrading

Discover the groundbreaking exploration of markets through the lens of 3D bars, transcending traditional analysis by constructing a tensor model that integrates price, volume, and time. This innovative approach reveals powerful predictive patterns heralding trend reversals with remarkable accuracy, transforming market data into a vibrant, dynamic structure. By employing Gann's methodological principles for data normalization, coupled with a unique volumetric profile and the development of a trend strength integral indicator, the article demonstrates how these insights can enhance decision-making. The adaptable application of these findings within MetaTrader 5 underscores a significant leap in algorithmic trading, offering advanced foresight for traders and developers alike.

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#MQL5 #MT5 #Indicator