Discussing the article: "Trading with the MQL5 Economic Calendar (Part 1): Mastering the Functions of the MQL5 Economic Calendar"
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Check out the new article: Trading with the MQL5 Economic Calendar (Part 1): Mastering the Functions of the MQL5 Economic Calendar.
In this article, we explore how to use the MQL5 Economic Calendar for trading by first understanding its core functionalities. We then implement key functions of the Economic Calendar in MQL5 to extract relevant news data for trading decisions. Finally, we conclude by showcasing how to utilize this information to enhance trading strategies effectively.
One of the core advantages of the MQL5 Economic Calendar is its integration with MQL5, which enables traders to programmatically access economic data and incorporate it into their Expert Advisors (EAs) or automated trading systems. Using its predefined functions, we can retrieve data such as the event's name, scheduled time, country, and forecasted or actual value. This functionality allows traders to develop systems that automatically react to major news events, whether it involves closing positions to avoid volatility, opening trades based on forecasts, or adjusting stop-loss and take-profit levels. This level of automation ensures that trading strategies are always responsive to the latest economic developments, without requiring manual intervention. To wrap up the key functionalities of the MQL5 Economic Calendar, here is a detailed visual representation.
From the image, we can see that there are 8 columns of the data representation. The first contains the time of the event, the second contains the currency symbol, the third contains the name of the event, the fourth contains the priority or importance level of the news data, the fifth contains the data period, while the sixth, seventh and eighth contains the actual, forecast and previous or revised data respectively.
Author: Allan Munene Mutiiria