The MetaTrader 5 Trading Platform includes the MQL5 Wizard,
which allows to quickly generate code of an Expert Advisor (Expert
Advisor builder). With MQL5 Wizard, knowledge of programming languages
is no longer a prerequisite for creating trading robots. In the past, it
really was an impassable obstacle to create automated trading
strategies, but the release of the MQL5 Wizard changed the situation
radically. With this new expert advisor builder, the programming
experience is not required - the application will do all the necessary
work to create a free Expert Advisors.
I will try to centralize a maximum of informations about this wonderful tool which is MQL5 Wizard, both for traders as for programmers.
MQL5 Wizard for traders.
A detailed description of each trading signal (standard) can be found in the MQL5 Reference.
More to come...
MQL5 Wizard for programmers.
Warning : There were two versions of MQL5 Wizard, and some articles were written for the first (obsolete) version. Most information from these articles are still relevant, but some are outdated.
You will be probably interested in this poll : Have you ever tried the MQL5 Wizard ?
Warning : some information from these articles are outdated.
Not provided with standard library, if you want to use one of them, you have to download and install it.
Trading Signals of Candlestick Patterns + Stochastic
Work in progress...
Forum on trading, automated trading systems and testing trading strategies
How to Start with Metatrader 5
newdigital, 2014.03.26 19:54
MQL5 Wizard: How to Teach an EA to Open Pending Orders at Any Price
An Expert Advisor generated using the
MQL5 Wizard can only open pending orders at the fixed distance from the
current price. This means that if the market situation changes (e.g. a
change in market volatility), the Expert Advisor will have to be run
again with new parameters.
This would not be suitable for many
trading systems. In most cases, the price level for pending orders is
determined dynamically by a trading system. And the distance from the
current price is constantly changing. In this article, we will discuss
how to modify an Expert Advisor generated using the MQL5 Wizard so that
it can open pending orders at varying distances from the current price.
Something Interesting to Read March 2017
Sergey Golubev, 2017.02.27 10:50
MQL5 programming language: Advanced use of the trading platform MetaTrader 5: Creating trading robots and indicatorsby Timur Mashnin
Development of indicators and advisors using the MQL5 programming language for the MetaTrader 5.
New article was published -
The NRTR indicator and trading modules based on NRTR for the MQL5 Wizard
In this article we consider an indicator that builds a dynamic price channel. A trading Expert Advisor is created based on this channel. Such systems can perform well in trend periods, but give a lot of false signals in flat movements. Therefore additional trend indicators are required. Choosing an appropriate indicator is not an easy task, and the choice often depends on specific market conditions. Therefore, a good solution is to provide for a possibility to quickly connect any selected indicator to a ready trading system.
The idea of the NRTR (Nick Rypock Trailing Reverse) indicator was proposed by Konstantin Kopyrkin. Interesting information: the name Nick Rypock is derived from the surname Kopyrkin written backwards.
Money Management by Vince. Implementation as a module for MQL5 Wizard
While working in financial markets, we are constantly looking for a system that would help us earn profit. Of course, we want this system to be stable and to maintain minimum risk. For the purpose of finding such a strategy, different trading systems searching for optimal entries and exits are being developed. Such systems include technical indicators and trading signals advising when to buy and to sell. There is a whole system of price patterns for technical analysis. At the same time, Ralph Vince shows in his book"Mathematics of Money Management" that the amount of the capital used for performing trades is no less important. To optimize profit and to save a deposit, it is necessary to determine the lot size to trade.
Ready-made Expert Advisors from the MQL5 Wizard work in MetaTrader 4