MQL5 Programming for Traders

Modern trading relies heavily on computer technology. Automation now extends beyond the boundaries of exchanges and brokerage offices, becoming accessible to everyday users through specialized software solutions. Among the pioneers in this field stands MetaTrader, which emerged in the early 2000s. The latest platform version, MetaTrader 5, remains at the forefront, continuously evolving with innovative features and functionalities.

A key element continuously refined within MetaTrader 5 is its built-in programming language MQL5. It enables traders to ascend to a whole new level of trading automation, commonly referred to as Algorithmic Trading. With MQL5, traders can transform their strategies into applications by writing their own indicators for analysis, scripts for executing operations, or Expert Advisor for complete trading automation. Being an automated trading system, an Expert Advisor can operate autonomously, tracking price changes and promptly alerting traders via email or SMS.

The built-in programming language allows traders to implement virtually any trading concept, from simple strategies to complex algorithms based on neural networks. MQL5 seamlessly combines the features of domain-specific and universal programming languages. Over the years, the language has acquired valuable advancements, such as support for 3D graphics, parallel computations via OpenCL, Python integration, and SQLite database support.

To unlock the full potential of MetaTrader 5, you must delve into programming. This book will help you master MQL5 and learn how to create your own trading applications.

It is assumed that the reader is already familiar with MetaTrader 5. Another prerequisite is the understanding of the fundamental principles of terminal operation within a distributed information system that facilitates trading. The terminal Help provides detailed information on all available features.

Furthermore, using MQL5 API, traders can access capabilities far beyond the MetaTrader 5 GUI. Master the programming language to implement complex scenarios, automating various terminal operation aspects and enhancing trading strategy efficiency.

The book is divided into 7 parts, each focusing on different aspects of MQL5 programming.

• Part 1 introduces basic MQL5 programming principles and MetaEditor, the standard MQL5 framework. Users experienced in programming in other languages should note the features of the framework.
• Part 2 explains the basic terms, such as types, instructions, operators, expressions, variables, code blocks, program structures. It describes how these terms are utilized in MQL5 procedural programming style. Those users who know MQL4 well can skip this part and start reading Part 3.
• Part 3 deals with object oriented programming (OOP) in MQL5. Despite its similarity to other languages that support the OOP paradigm (especially to C++), MQL5 has certain specific features. To taste, MQL5 is sort of C±±.
• Part 4 describes common embedded functions which are applicable to in any program.
• Part 5 covers the architectural features of MQL programs and their "majoring" in types to perform various trading tasks, such as technical analysis using indicators, chart management and marking the charts with imposing graphical objects onto them, and responses to interactive actions and events involving MQL programs.
• Part 6 explains how to analyze trading environment and automate trading operations using robots. This part also presents the program interaction with tester in various modes, including strategy optimization.
• Part 7 contains information regarding the extended set of dedicated APIs facilitating the MQL5 integration with adjacent technologies, such as databases, network data exchange, OpenCL, Python, etc.

Throughout the book, the material is presented in a balanced manner, combining common approaches, examples, and technical details. The reader is guided through transitioning from one concept to another, resembling a chicken-and-egg problem inherent in learning programming. To reinforce understanding, most MQL programs discussed in the book are available as source codes for practical exploration in MetaEditor/MetaTrader 5.