How to Start with Metatrader 5 - page 142

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Where Do I start from?

Sergey Golubev, 2024.03.20 06:28

Trader-friendly stop loss and take profit

Stop loss and take profit are stop orders that close a position when the price reaches their value. Stop loss allows traders to limit losses, while take profit enables thjem to save their gains. The main advantage of using stop loss and take profit is the ability to control financial risks and use money management.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

How to start with MQL5

Sergey Golubev, 2024.05.09 19:39

Introduction to MQL5 (Part 7): Beginner's Guide to Building Expert Advisors and Utilizing AI-Generated Code in MQL5

The rapid advancement of artificial intelligence in today's technological landscape has sparked discussions regarding the future of coding. Some argue that code produced by AI could replace the need for conventional coding knowledge. But nothing could be further from reality than this. This article seeks to dispel this myth and highlight the importance of knowing how to code. We're going to reveal ways you can incorporate AI-generated code into our programming projects in a seamless way so that it complements rather than replaces our skills. So, let's get started and utilize MQL5 programming fully without any delay. Prepare to apply theory to real-world situations, and let's work some magic!

In this article, we will cover the following topics:

Mastering MQL5

Pseudocode

Generating MQL5 Codes with AI

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Buying or Selling all 7 pairs

Sergey Golubev, 2024.06.01 14:18

Developing a multi-currency Expert Advisor (Part 1): Collaboration of several trading strategies

During my working activities, I had to deal with various trading strategies. As a rule, EAs implement only one trading idea. The difficulties of ensuring stable collaboration of many EAs on one terminal usually force us to select only a small number of the best ones. But it is still a pity to throw away completely workable strategies for this reason. How can we make them work together?

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Buying or Selling all 7 pairs

Sergey Golubev, 2024.06.05 06:47

Developing a multi-currency Expert Advisor (Part 2): Transition to virtual positions of trading strategies 

In the previous article, we started developing a multi-currency EA that works simultaneously with various trading strategies. At the first stage there were only two different strategies. They represented the implementation of the same trading idea, worked on the same trading instrument (symbol) and chart period (timeframe). They differed from each other only in the numerical values of the parameters.

We are now only interested in testing the suitability of this approach, and not the efficiency of its implementation. Therefore, within the framework of this article, we will try to develop at least some working implementation of this approach, which later will help us build a more beautiful one from an architectural point of view since we will already have knowledge on how to avoid mistakes.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Buying or Selling all 7 pairs

Sergey Golubev, 2024.06.14 12:44

Developing a multi-currency Expert Advisor (Part 3): Architecture revision

In the previous articles, we started developing a multi-currency EA that works simultaneously with various trading strategies. The solution provided in the second article is already significantly different from the one presented in the first one. This indicates that we are still in search of the best options.

Let's try to look at the developed system as a whole, abstracting from the small details of the implementation, in order to understand ways to improve it. To do this, let us trace the albeit short, but still noticeable evolution of the system.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Buying or Selling all 7 pairs

Sergey Golubev, 2024.06.28 07:36

Developing a multi-currency Expert Advisor (Part 4): Pending virtual orders and saving status

In the previous article, we have significantly revised the code architecture to build a multi-currency EA with several parallel working strategies. Trying to achieve simplicity and clarity, we have so far only considered a certain minimum set of functionality. Even considering the limitations of our task, we have significantly altered the code from the previous articles.

Now hopefully we have the groundwork that is sufficient enough to increase functionality without radical changes to the already written code. We will try to make a minimum number of edits only where it is really necessary.

[Sergey Golubev]

Creating an Interactive Graphical User Interface in MQL5 (Part 1): Making the Panel

Welcome to the first installment of our comprehensive guide on building custom graphical user interface (GUI) panels in MetaQuotes Language 5 (MQL5)! As traders and developers, we understand the importance of efficient and user-friendly interfaces for our trading tools. In this series, we’ll dive into the world of MQL5 and explore how to create powerful GUI panels that enhance your trading experience.

In this initial part, we’ll cover the basics: setting up the project, designing the panel layout, and adding essential controls. In the next part, we will make the panel live, interactive, and responsive.

[Sergey Golubev]

Creating an Interactive Graphical User Interface in MQL5 (Part 2): Adding Controls and Responsiveness

In our previous article, we laid the foundation by assembling the graphical elements of our MetaQuotes Language 5 (MQL5) graphical user interface (GUI) panel. If you recall, the iteration was a static assembly of GUI elements - a mere snapshot frozen in time, lacking responsiveness. It was static and unyielding. Now, let’s unfreeze that snapshot and infuse it with life. In this eagerly anticipated continuation, we’re taking our panel to the next level.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

How to start with MQL5

Sergey Golubev, 2024.07.29 10:21

Introduction to MQL5 (Part 8): Beginner's Guide to Building Expert Advisors (II)

Having already studied the fundamentals of MQL5, you are now prepared to take on one of the most important tasks associated with algorithmic trading: creating a working Expert Advisor. As I indicated in the previous article, We will use a project-based approach for this series. This method helps in both comprehending abstract ideas and recognizing how they are used in practical situations. You will have a firm grasp of how to automate trading decisions based on candlestick patterns and predetermined conditions by the time you finish this guide.

In this article, we will focus on developing an EA that uses the candlestick analysis from the previous day to determine its trading direction. The EA will concentrate on selling for the day if the most recent daily candlestick is bearish and buying if it is bullish. The EA will also verify its trading signals by utilizing the close price of the day's first 1-hour candlestick. There won't be more than one open position at any given time, and the daily maximum of two trades will be enforced. It will function under stringent trade limits. Furthermore, its operation will be limited to the designated trading hours of Monday to Wednesday.

[Sergey Golubev]

Forum on trading, automated trading systems and testing trading strategies

Buying or Selling all 7 pairs

Sergey Golubev, 2024.07.31 17:09

Developing a multi-currency Expert Advisor (Part 5): Variable position sizes

In the previous part, we dded the ability to restore the EA's state after a restart. It does not matter what the reason was - rebooting the terminal, changing the timeframe on the chart with the EA, launching a more recent version of the EA - in all cases, restoring the state allowed the EA not to start working from scratch and not to lose already open positions, but to continue handling them.

However, the size of the opened positions remained the same for each instance of the strategy throughout the entire testing period. Their size was set at the EA launch. If, as a result of the EA's operation, the trading account balance increased, then this would allow the use of an increased position size without increasing risk. It would be reasonable to take advantage of this, so let’s start implementing the use of variable position sizes.