New article: Bi-Directional Trading and Hedging of Positions in MetaTrader 5 Using the HedgeTerminal API, Part 2
great stuff ..... nice article... thanks for posting it and sharing it on forum :)
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New article Bi-Directional Trading and Hedging of Positions in MetaTrader 5 Using the HedgeTerminal API, Part 2 has been published on mql5.com:
This article is a continuation of the first part "Bi-Directional Trading and Hedging of Positions in MetaTrader 5 Using the HedgeTerminal Panel, Part 1". In the second part, we will discuss integration of Expert Advisors and other MQL5 programs with the HedgeTerminalAPI library. Read this article to learn how to work with the library. It will help you create bi-directional trading Expert Advisors while still working in a comfortable and simple trading environment.
In addition to the library description, the article touches on the fundamentals of asynchronous trading and multi-threaded programming. These descriptions are given in the third and fourth sections of this article. Therefore, this material will be useful for the traders who are not interested in bi-directional trading, but who would like to find out something new about asynchronous and multi-threaded programming.
The material presented below is intended for experienced algorithmic traders who know the MQL5 programming language. If you don't know MQL5, please read the first part of the article, which contains simple diagrams and drawings explaining the general principle of the library and the HedgeTerminal panel.
1.12. The SendTradeRequest() Function and the HedgeTradeRequest Structure through the Example of Chaos II EA
As an example, let's develop a trading robot based on the trading tactics proposed by Bill Williams in his book Trading Chaos. Second Edition.
We will not follow all his recommendations, but simplify the scheme by omitting the Alligator indicator and some other conditions. The choice of this strategy stems from several considerations. The main one is that this strategy includes composite position maintenance tactics. Sometimes you need to close a part of a position and move the stop loss to breakeven.
When moved to breakeven, the stop level should be trailed following the price. The second consideration is that this tactic is known enough and indicators developed for it are included in the standard MetaTrader 5 delivery pack. Let's slightly modify and simplify the rules, to prevent the complex logic of the Expert Advisor from hindering its primary objectives: to show an example of EA interaction with the HedgeTerminalAPI library. The EA's logic uses most of trading functions of HedgeTerminalAPI. This is a good test for the library.
The following chart illustrates this strategy:
Fig. 4. The representation of bi-directional positions of the Chaos 2 EA on the price chart
Author: Vasiliy Sokolov