Discussing the article: "Understanding Programming Paradigms (Part 1): A Procedural Approach to Developing a Price Action Expert Advisor"

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Check out the new article: Understanding Programming Paradigms (Part 1): A Procedural Approach to Developing a Price Action Expert Advisor.

Learn about programming paradigms and their application in MQL5 code. This article explores the specifics of procedural programming, offering hands-on experience through a practical example. You'll learn how to develop a price action expert advisor using the EMA indicator and candlestick price data. Additionally, the article introduces you to the functional programming paradigm.

Price Action Strategy with EMA Indicator

Our trading strategy relies on a single indicator known as the exponential moving average (EMA). This indicator is widely used in technical analysis and helps determine the market direction based on your chosen trading setup. You can easily find the moving average as a standard indicator on MQL5, making it straightforward to incorporate into our code.

Buy Entry:
Open a buy position when the most recently closed candle is a buy candle, and both it's low and high prices are above the exponential moving average (EMA).

Author: Kelvin Muturi Muigua

[Altan Karakaya]

Very informative and interesting

[Jay Allen]

Excellent Article on Procedural Programming!

[[Deleted]]

Good article. I expected some procedural price action coding like ABCD waves structure or a conditional zigzag with steps like in step 1 find a peak, step 2 find a trough etc... I don't think a candle low high above or below EMA is procedural "price action" if we leave trading functions apart.

[Kelvin Muturi Muigua]

Altan Karakaya #:

Very informative and interesting

Thank you. I'm glad you liked it! Your feedback is appreciated.

[Kelvin Muturi Muigua]

Jay Allen #:
Excellent Article on Procedural Programming!

Thank you. I appreciate your kind words and feedback!

[Kelvin Muturi Muigua]

Arpit T #:
Good article. I expected some procedural price action coding like ABCD waves structure or a conditional zigzag with steps like in step 1 find a peak, step 2 find a trough etc... I don't think a candle low high above or below EMA is procedural "price action" if we leave trading functions apart.

Thanks for your feedback! The article primarily centered on the procedural programming paradigm as a style of writing and organizing code, using the trading strategy as a practical example for implementation in MQL5. In a future article, I will demonstrate how to create an ABCD wave or zigzag steps strategy with MQL5, as you have suggested. Feel free to recommend any other areas you'd like me to cover in upcoming articles!