Enhance your workflow by using hotkeys for efficient navigation through timeframes. Utilize the 'N' key to move to the next timeframe and the 'M' key to revert to the previous one. This method allows for rapid analysis and seamless transitions between different data perspectives. Implementing hotkeys into platform usage aids in maintaining focus and reduces the need for manual timeframe adjustments via menus. Prioritize efficiency by integrating these shortcuts into your routine, facilitating a smoother experience when conducting technical analysis or evaluating market trends.

👉 Read | CodeBase | @mql5dev

#MQL4 #MT4 #Script

The Envelopes indicator serves as a tool in band trading, marking moving averages with two bands for more informed trade decisions. This technical indicator helps filter trend movements and assess sideways market conditions. Calculation involves setting a fixed percentage from the moving average, useful in filtering both upward and downward price swings. The approach includes strategies for uptrend, downtrend, and sideways conditions, each dictating specific actions such as buy, short, or take profit. Implementing these strategies with MQL5 in MetaTrader 5 facilitates automatic signal detection. Such coding streamlines the trading process, enhancing decision-making efficiency.

👉 Read | Calendar | @mql5dev

#MQL5 #MT5 #Algorithm

The elegant oscillator, originally developed for MetaTrader 5, is now available for MetaTrader 4. This tool provides traders with improved insights into market trends and dynamics. Users should apply the same recommendations and settings as defined in the MetaTrader 5 description to ensure optimal performance. This indicator assists in identifying potential entry and exit points by analyzing market momentum. Make sure to integrate it into your trading strategy to enhance decision-making processes. Proper calibration is crucial for achieving accurate results. Regular updates and evaluations are suggested to maintain its efficiency in varying market conditions.

👉 Read | AppStore | @mql5dev

#MQL4 #MT4 #Indicator

The concept of neurosymbolic systems combines classic trading patterns with neural networks to enhance algorithmic trading. Traditional patterns like "head and shoulders" are well-known but can fail as markets evolve. Neural networks such as LSTM provide powerful predictions but lack transparency in decision-making. By integrating these two approaches, a neurosymbolic system can adapt to market changes while maintaining a framework of rules.

Pattern analysis in trading involves encoding price movements as binary sequences. Patterns can be evaluated by their frequency, win rate, and a reliability metric to avoid statistical anomalies. Proper analysis requires balancing pattern length and forecast horizon for effective predictions.

In neural network architecture, LSTMs are suitable for time-series market data. A hybrid setup with LSTM and dense ...

👉 Read | Quotes | @mql5dev

#MQL5 #MT5 #Neurosymbolic

Effective use of statistics transforms raw market data into actionable insights. The Price Action Analysis Toolkit elevates candlestick data by compressing multiple bars into significant price levels, offering enhanced clarity on market behavior. Employing the typical price (TP) concept, which averages high, low, and close prices, enables more stable and informative statistical analysis. This approach yields metrics such as mean, median, mode, and variance, effectively guiding price action analysis.

The development and integration of statistical signals into trading strategies provides a systematic method for interpreting price movement. Using a strategy like the KDE Level Sentinel EA in MQL5 allows for clear, reproducible trading signals. These insights assist in identifying strategic entries and exits, supported by precise computation and reliable...

👉 Read | Calendar | @mql5dev

#MQL5 #MT5 #Strategy

In the realm of MQL5 programming, transitioning from manually handling SQL to using ORM can optimize data operations remarkably. Initially, we explored setting up databases, focusing on SQL commands within MQL5 scripts to handle basic tasks like table creation, data manipulation, and transaction management. Such an approach laid the foundation, but posed challenges as systems scaled: code verbosity, repetition, and potential errors increased.

Moving towards an ORM (Object-Relational Mapping) system can streamline these operations, representing database tables as classes. Utilizing the MQL5 preprocessing feature #define significantly aids in this by automating class generation, reducing redundancy, and enhancing maintainability.

The macro capabilities in MQL5 provide powerful tools beyond text substitution, enabling the creation of structured entity classes t...

👉 Read | Freelance | @mql5dev

#MQL5 #MT5 #ORM

Discover how the evolution of Parafrac oscillators can enhance your algorithmic trading strategies. By standardizing PSAR-price gaps using fractal range and ATR, these tools unveil distinct trend structures. An in-depth comparison of Parafrac and Parafrac V2 across three strategies—Zero-Line Cross, Histogram Momentum Shifts, and Histogram-Candle Combination—reveals their strengths. Backtesting on GBP/USD H1 highlights how the ATR-based Parafrac V2 offers higher profitability under specific conditions, while the original excels in select scenarios. Learn how optimizing parameters like stop loss and Reward-to-Risk Ratio can refine performance, ensuring your algorithm responds effectively to market dynamics.

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #Strategy

The Force Index, developed by Alexander Elder, is an analytical tool aimed at measuring the buying and selling strength of an asset. It is calculated using the formula: Force Index(1) = (current price - previous price) x current volume. For a smoothed version, the Force Index(13) is used, which involves calculating the EMA(13) of Force Index(1).

Traditionally, the Force Index acts as a zero-line cross indicator. However, it possesses additional features worth noting. It can effectively indicate impulsive moves, breakouts, and even reversal points on a chart. The enhanced assessment is achieved by applying volume and volatility bands, aiding in better analysis of market dynamics. These capabilities make it a versatile tool for technical analysis when identifying breakouts and reversals in range-bound markets.

👉 Read | Docs | @mql5dev

#MQL4 #MT4 #Indicator

In part 2 of our series, the focus shifts to developing an AI-integrated program using MQL5, building on our existing JSON parsing framework. The program facilitates interaction with OpenAI's API directly on the MetaTrader 5 chart, offering AI-driven trading insights.

We cover setting up OpenAI API access, configuring MetaTrader 5 for HTTP requests, and the implementation of the ChatGPT program in MQL5. This includes creating a user interface with input fields and buttons for querying the AI, and displaying formatted responses on the chart.

Key steps involve obtaining an API key, performing curl tests to ensure API connectivity, and configuring MT5 settings for seamless communication with OpenAI. This comprehensive approach ensures robust AI interaction within a trading environment.

👉 Read | AlgoBook | @mql5dev

#MQL5 #MT5 #ChatGPT

The development of a custom market sentiment indicator combining multiple timeframes enhances trading efficiency. By automating this indicator, traders benefit from consistent sentiment monitoring without emotional bias, promoting faster market reaction. The framework uses various technical elements like moving averages and price action analysis to classify sentiment into five categories: bullish, bearish, risk-on, risk-off, and neutral.

The execution logic warrants systematic trading decisions. Buy orders align with bullish or risk-on sentiment due to expected upward price momentum, while sell orders correlate with bearish or risk-off sentiment predicting downward trends. Neutral sentiment prompts trade avoidance to reduce high-risk entries in uncertain conditions.

Integration of MetaTrader 5's CTrade class facilitates automated trade execution. ...

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Indicator

Explore the geometric interpretation of machine learning models and their impact on trading strategies. Unlike traditional methods, which merely map inputs to outputs, these models embed target images onto a space defined by inputs, causing potential misalignment and irreducible errors. This nuance affects prediction accuracy, emphasizing the need for multi-step forecasts over direct comparisons. A practical case shows a 153% increase in profitability by leveraging such predictions. Key techniques include the use of ONNX models for cross-platform deployment and the refinement of strategies through analysis of model predictions, aligning coordinate systems for improved trading outcomes without altering the base model.

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #ML

In our latest technical assessment, we explored integrating third-party libraries with MQL5 Algo Forge, focusing on the SmartATR library. Initially, manual cloning via Git worked to integrate the library, revealing MetaEditor's current limitations when handling external repositories. We found console commands a requirement for external code integration, as MetaEditor didn't fully support repository cloning without pre-existing correct permissions or context operations.

We explored an alternate approach: forking external repositories via the MQL5 Algo Forge web interface. Forking provides an independent copy where developers can make modifications, which is then visible in MetaEditor for streamlined repository management. This supports the open-source model, allowing for potential code contributions and efficient project backups.

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #AlgoTrading

A new trend analysis method is discussed, focusing on quantile-based calculations. The approach involves comparing the current close price with the upper and lower quantiles of the last 30 periods, defined as 60 and 40 defaults, respectively. An uptrend is identified if both values exceed zero, a downtrend if both are below zero, and a ranging market if one is positive and the other negative.

Additionally, a high-low mode is available, comparing the current high and low prices against these quantiles. This variation provides more nuanced insights into market movements, particularly for filtering ranging bars. However, it may introduce more lag.

In visualization, a Green Block indicates an uptrend, an Orange Block denotes a downtrend, and a Gray Block signifies a ranging market.

👉 Read | Docs | @mql5dev

#MQL4 #MT4 #Indicator

Explore the power of the MQL5 Standard Library to craft efficient, robust trading systems. By integrating classes like CTrade for trade execution, CiATR for volatility assessment, and CiMA for trend detection, developers can streamline their coding process and focus more on strategy than on tedious implementation details. This approach not only reduces errors but enhances consistency and clarity in developing Expert Advisors. Testing reveals that while shorter timeframes demand extra filtering to tackle noise, trading on higher timeframes like H4 aligns better with trend-following strategies, delivering clearer signals and more reliable outcomes. Unlock a new level of proficiency by embracing systematic workflows with MQL5.

👉 Read | AlgoBook | @mql5dev

#MQL5 #MT5 #OOP

Developing advanced trading systems involves understanding classical patterns and programming skills. A recent implementation in MQL5 focuses on the Shark Pattern system, a harmonic pattern based on pivot points and Fibonacci retracements/extensions. The system automates trade execution upon detecting a valid pattern, offering flexible entry, stop-loss, and take-profit options. The use of chart objects enhances pattern visualization, aiding in clarity and decision-making.

For implementation, key steps involve defining structures for swing pivots, employing logic to detect pattern criteria, and visual aesthetics for chart depiction. Testing through historical data ensures efficacy and reliability, while careful risk management remains essential.

👉 Read | AppStore | @mql5dev

#MQL5 #MT5 #AlgoTrading

In MetaTrader 5 build 5320, we've added a separate CodeBase category for Services. Now you can easily share such MQL5 applications, as well as download them directly from the platform with automatic installation to the appropriate folder.

We've also improved operations with input variables in MQL5. Now, using a separate parameter, you can specify a variable name to be displayed in the program properties in the platform. Previously, the name was specified through comments, which was a less obvious method.

In addition, we have made several improvements to the MQL5 compiler and debugger, and added translations of the Web Terminal into Romanian and Hebrew.

Important:

Build 5320 is the last update to support Windows 7, Windows 8, Windows 8.1, and Windows Server 2008. Starting with the next version, desktop platforms running on these operating systems will no longer receive updates. The only exception is platforms running under Wine.

Read more...

Combining stochastics with varying periods can aid novice traders in gaining a more comprehensive view of market trends. By using stochastics with different time frames, traders can effectively monitor both short-term and long-term momentum. This approach helps in identifying potential overbought or oversold conditions across different periods, providing clearer signals for trading decisions. Properly analyzing these overlayed indicators requires understanding their distinct implications and recognizing how each period reflects different market conditions. This method can offer valuable insights into price movement patterns, assisting traders in executing more informed trading strategies and reducing uncertainty in decision-making.

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Indicator

Explore the significant benefits of the Detrended Price Oscillator (DPO) for algorithmic trading in MetaTrader 5. This article delves into coding a custom DPO indicator, its integration into trading systems, and how it isolates short-term price cycles by filtering long-term trends. Discover effective DPO strategies like Zero Crossover and Trend Validation, offering clear protocols for automating trades. Enhance your trading insights with optimized systems and backtesting results. Whether you're a seasoned trader or a developer, the practical applications discussed provide valuable knowledge for improving trading performance with robust, actionable data-driven techniques.

👉 Read | CodeBase | @mql5dev

#MQL5 #MT5 #Indicator

In the realm of algorithmic trading, Reinforcement Learning (RL) exhibits significant promise with TD3 (Twin Delayed Deep Deterministic Policy Gradient) emerging as a key player. TD3 excels by addressing the limitations of its predecessor, DDPG, through enhanced stability and efficiency, making it ideal for trading, where market dynamics are continuous and volatile. It leverages dual critics to reduce overestimation bias, incorporates target policy smoothing to manage market noise, and introduces delayed policy updates to stabilize learning. The RL cycle—comprising environment interaction, action selection, and reward optimization—is integrated with Python for training and exported via ONNX for seamless execution in MQL5, thus bridging advanced training with practical trading execution.

👉 Read | VPS | @mql5dev

#MQL5 #MT5 #ReinforcementLearning

Elevate your trading strategy by incorporating a robust statistical arbitrage framework for MetaTrader 5. This method focuses on creating a mean-reversion strategy with cointegrated Nasdaq stocks alongside Nvidia (NVDA), prioritizing market neutrality. A comprehensive scoring system evaluates stock pairs through criteria like Engle-Granger and Johansen cointegration tests, spread stationarity, and liquidity. This framework efficiently screens thousands of stock combinations, maintaining a focus on stability and tradeability. Detailed correlation and cointegration analyses ensure a well-informed selection process, paving the way for a robust, data-driven, and economically meaningful portfolio development. Such a strategy optimizes resource allocation and enhances trading edges through meticulous screening and backtesting.

👉 Read | Freelance | @mql5dev

#MQL5 #MT5 #Strategy