Publisher's Synopsis
Simple is better than complex. This book lets you know all it takes to build a robust algorithm in the most simplistic and easy-to-learn format using the Meta Quotes Language 5 (MQL5). While it is possible to build an advanced algorithm with MQL4, MQL5 comes with new generation concepts which give an edge to programmers that code in MQL5 however, the real winners may be those that have mastered the two languages. If you have read the MQL4 version of this book, writing code in MQL5 comes with no stress.
This book is open to both novices and professionals. The principles of the Mql5 language, the ideal model for a trading system, sophisticated trading algorithms and operations, the use of price data, technical analytics for market analysis, and many other unique aspects are covered in this book.
Note: large fonts are used in this book to make learning easier and clearer for every reader. After studying this book, you will be able to do the following:
- Learn how to program fully automated and Semi-automated algorithms for trade enhancement and assistance.
- Learn how to code the premium serial bearish and bullish candle patterns and their optimization.
- Acquire knowledge on how to recover from trade operations when predictive analysis fails by using the order reverse approach.
- Price action is known as the king of trades. Learn how to use price data and candle stick patterns to confirm market entry.
- Develop your coding skills by learning how to manage numerous trade orders, modify market and pending orders, delete pending orders, close market orders, handle errors, and other sophisticated trading procedures.
- Learn how to safeguard your equity using the risk management strategy. As your account size increases, this idea commits fewer resources to trade and more resources if the opposite is true.
- Gain more knowledge about the break-even stop strategy and trailing stop algorithm to reduce losses and maximize profits.
- Create forecasting market analyses and signals utilizing the most widely used indicators, including the moving average, average true range, relative strength index, Bollinger band, stochastic indicator, moving average convergence and divergence indicator, and many others.
- Use a martingale and dynamic lot sizes for trade recovery.
- Set take profit and stop loss trade limits using the average true range.
- Employ the Fibonacci object, upper and lower trend lines, as well as horizontal and vertical lines to analyse support and resistance patterns.
- Utilize the multi-timeframe algorithmic technique on the M1, M5, M30, H1, and D1 to compare and create precise signals.
- Create algorithms that start trading at predetermined times when the market is stable and at a predetermined spread range.
- Create trade signals using one or more indicators to confirm and filter signals.
- Create various expert advisors, such as market order expert advisors, buy stop/sell stop pending order expert advisors, and buy limit/sell limit pending order expert advisors.
- Use the Strategy Tester and History Centre to assess the robustness of your Trading System.
You will also be able to see how important it is to plan, design, and use your ingenuity to create a solid system. A better experience is always provided by practical knowledge.
