Articles on the MQL5 programming and use of technical indicators

On the occasion of the MQL5 Freelance Service fourth birthday, we have prepared an info-graphic demonstrating the service results for the entire time of its existence. The figures speak for themselves: more than 10 000 orders worth about $600,000 in total have been executed to date, while 3 000 customers and 300 developers have already used the service.

Random Walk looks very similar to the real market data, but it has some significant features. In this article we will consider the properties of Random Walk, simulated using the coin-tossing game. To study the properties of the data, the trendiness indicator is developed.

We want to create such an environment, which would provide access to data of indicators attached to a chart, and would have the following properties: absence of data copying; minimal modification of the code of available methods, if we need to use them; MQL code is preferable (of course, we have to use DLL, but we will use just a dozen of strings of C++ code). The article describes an easy method to develop a program environment for the MetaTrader terminal, that would provide means for accessing indicator buffers from other MQL programs.

In this article we are going to analyze the NRTR indicator and create a trading system based on this indicator. We are going to develop a module of trading signals that can be used in creating strategies based on a combination of NRTR with additional trend confirmation indicators.

The idea of digital signal filtering has been widely discussed on forum topics about building trading systems. And it would be imprudent not to create a standard code of digital filters in MQL5. In this article the author describes the transformation of simple SMA indicator's code from his article "Custom Indicators in MQL5 for Newbies" into code of more complicated and universal digital filter. This article is a logical sequel to the previous article. It also tells how to replace text in code and how to correct programming errors.

The article provides a critical examination of regular divergence and efficiency of various indicators. In addition, it contains filtering options for an increased analysis accuracy and features description of non-standard solutions. As a result, we will create a new tool for solving the technical task.

In this article, I will share with you one of the methods of how to trade bands. This time we will consider Envelopes and will see how easy it is to create some strategies based on the Envelopes.

This article seeks to upgrade the indicator created earlier on and briefly deals with a method for estimating forecast confidence intervals using bootstrapping and quantiles. As a result, we will get the forecast indicator and scripts to be used for estimation of the forecast accuracy.

In this new article from our series for learning how to design trading systems, I will present the Commodities Channel Index (CCI), explain its specifics, and share with you how to create a trading system based on this indicator.

The article deals with the methods of indicators computational algorithms optimization. Everyone will find a method that suits his/her needs best. Three methods are described here.One of them is quite simple, the next one requires solid knowledge of Math and the last one requires some wit. Indicators or MetaTrader5 terminal design features are used to realize most of the described methods. The methods are quite universal and can be used not only for acceleration of the linear regression calculation, but also for many other indicators.

The article reveals how the "Rope" indicator is created based on "The Small Encyclopedia of Trader" by Erik L. Nayman. This indicator shows the direction of the trend using the calculated values of bulls and bears over a specified period of time. The article also contains principles of creating and calculating indicators along with the examples of codes. Other subjects covered include building an Expert Advisor based on the indicator, and the optimization of external parameters.

In this part, we expand the trading signal searching and editing system, as well as introduce the possibility to use custom indicators and add program localization. We have previously created a basic system for searching signals, but it was based on a small set of indicators and a simple set of search rules.

In this article, we will continue our series about designing a trading system using the most popular indicators and we will talk about the average directional index (ADX) indicator. We will learn this indicator in detail to understand it well and we will learn how we to use it through a simple strategy. By learning something deeply we can get more insights and we can use it better.

How to find more candlestick patterns than usual? Behind the simplicity of candlestick patterns, there is also a serious drawback, which can be eliminated by using the significantly increased capabilities of modern trading automation tools.

The article describes the method of fast visual testing of trading ideas. The method is based on the combination of a price chart, a signal indicator and a balance calculation indicator. I would like to share my method of searching for trading ideas, as well as the method I use for fast testing of these ideas.

In the previous article, we analyzed 14 patterns selected from a large variety of existing candlestick formations. It is impossible to analyze all the patterns one by one, therefore another solution was found. The new system searches and tests new candlestick patterns based on known candlestick types.

The article provides an overview of the terminal's capabilities for creating and working with custom symbols, offers options for simulating a trading history using custom symbols, trend and various chart patterns.

In my previous article, I mentioned the importance of identifying the trend which is the direction of prices. In this article I will share one of the most important concepts and indicators which is the Momentum indicator. I will share how to design a trading system based on this Momentum indicator.

In the fifth article related to the creation of a trading signal monitor, we will consider composite signals and will implement the necessary functionality. In earlier versions, we used simple signals, such as RSI, WPR and CCI, and we also introduced the possibility to use custom indicators.

In this article, we will further develop the idea of drawing graphical objects on charts using keyboard shortcuts. New tools have been added to the library, including a straight line plotted through arbitrary vertices, and a set of rectangles that enable the evaluation of the reversal time and level. Also, the article shows the possibility to optimize code for improved performance. The implementation example has been rewritten, allowing the use of Shortcuts alongside other trading programs. Required code knowledge level: slightly higher than a beginner.

In this article, we continue our learning series — this time we will learn how to design a trading system using one of the most popular and useful indicators, which is the Stochastic Oscillator indicator, to build a new block in our knowledge of basics.

In this article, we will consider the development of a multi-symbol indicator to analyze price divergence in a specified period of time. The core topics have been already discussed in the previous article on the programming of multi-currency indicators "MQL5 Cookbook: Developing a Multi-Symbol Volatility Indicator in MQL5". So this time we will dwell only on those new features and functions that have been changed dramatically. If you are new to the programming of multi-currency indicators, I recommend you to first read the previous article.

A proverbial wisdom often attributed to various famous people says: "He who makes no mistakes never makes anything." Unless you consider idleness itself a mistake, this statement is hard to argue with. But you can always analyze the past mistakes (your own and of others) to minimize the number of your future mistakes. We are going to attempt to review possible situations arising when executing jobs in the same-name service.

In this article, we will consider the development of a multi-symbol volatility indicator. The development of multi-symbol indicators may present some difficulties for novice MQL5 developers which this article helps to clarify. The major issues arising in the course of development of a multi-symbol indicator have to do with the synchronization of other symbols' data with respect to the current symbol, the lack of some indicator data and the identification of the beginning of 'true' bars of a given time frame. All of these issues will be closely considered in the article.

Traders often talk about trends and flats but very few of them really understand what a trend/flat really is and even fewer are able to clearly explain these concepts. Discussing these basic terms is often beset by a solid set of prejudices and misconceptions. However, if we want to make profit, we need to understand the mathematical and logical meaning of these concepts. In this article, I will take a closer look at the essence of trend and flat, as well as try to define whether the market structure is based on trend, flat or something else. I will also consider the most optimal strategies for making profit on trend and flat markets.

Thomas DeMark Sequential is good at showing balance changes in the price movement. This is especially evident if we combine its signals with a level indicator, for example, Murray levels. The article is intended mostly for beginners and those who still cannot find their "Grail". I will also display some features of building levels that I have not seen on other forums. So, the article will probably be useful for advanced traders as well... Suggestions and reasonable criticism are welcome...

In this article I will address the possibilities of creating customized indicators with candlesticks, pointing out their advantages and disadvantages.

The article analyzes the application of the Bayes' formula for increasing the reliability of trading systems by means of using signals from multiple independent indicators. Theoretical calculations are verified with a simple universal EA, configured to work with arbitrary indicators.

This article describes how object-oriented programming can be used for creating multi-timeframe and multi-currency panels for MetaTrader 5. The main goal is to build a universal panel, which can be used for displaying many different kinds of data, such as prices, price changes, indicator values or custom buy/sell conditions without the need to modify the code of the panel itself.

In the previous two articles, we discussed the application of Merrill patterns to various data types. An application was developed to test the presented ideas. In this article, we will continue working with the Strategy Builder, to improve its efficiency and to implement new features and capabilities.