In the previous part, we created a basic system which enables the use of templates within a floating window. Although we have made many changes, the code is not yet finished. This has been done intentionally in order to keep the explanation simple, because while the use of templates in floating widows is rather simple, the use of objects is something much more complicated. So, be ready for a completely new job.
A trading EA can be truly useful only if it can use custom indicators; otherwise, it is just a set of codes and instructions, which can be well designed, assist in managing positions or executing market deals, and that's probably all.
There is one type of assets that makes traders' life very difficult for traders — it is the futures contracts. But why do they make life difficult? When a financial instrument contract expires, a new contract is created which we then trade. Actually, upon contract expiration, we need to finish any its analysis, save everything as a template and import this template into a new contract to continue the analysis. This is a common thing for anyone trade this type of asset, but even futures contracts have some history, and using this history, we can analyze them on an ongoing basis.
Tape Reading is a trading method used by some traders at various stages of trading. This method is very effective and, when used correctly, it provides a stable profit growth in a safer and more consistent way than when using the well-known Price Action, which is pure candlestick observation. However, the use of Tape Reading in its currently presented form is a very complex and tedious process which requires constant concentration of attention. Over time, we inevitably begin to make mistakes in observation.
Today we will create Times & Trade with fast interpretation to read the order flow. It is the first part in which we will build the system. In the next article, we will complete the system with the missing information. To implement this new functionality, we will need to add several new things to the code of our Expert Advisor.
In the previous article "Times & Trade (I)" we discussed an alternative chart organization system, which is a prerequisite for creating an indicator enabling the quickest possible interpretation of deals executed in the market. But we have not completed this system: it still lacks the ability to show how you can access certain information, and such access would help to better understand what is happening. Such information cannot be presented directly on the chart. Actually, such presentation could be implemented, however the interpretation would be very confusing. Therefore, it is best to have the data represented in a classical way, i.e. values in text format. Our Expert Advisor does not have a system capable of performing this task. So, we need to implement it.
Our EA already has some resources which assist in trading — we have added them in our previous articles. However, this EA has some issues with visualization and resizing. They do not interfere with trading, but at some points this leads to a mess on the screen until you force it to refresh. In addition, there are still some things missing that would provide valuable information for us. These are specific things, but the information can be necessary.
So, let's start implementing these new improvements. This interesting article can provide some new ideas and methods of presenting information. At the same time, it can assist in fixing minor flaws in projects.
There are a lot of websites and places on the web, featuring a huge amount information. What you need to know is where to look and how best to use this information. And the better you are informed during the right period, the better it is for trading. However, if you are going to use a browser, whatever it is: you will find that it is very difficult to filter certain information well, that you are forced to look at many screens and monitors, and in the end, although the information is there, it is impossible to use it.
But thanks to MQL5, which is very close to C/C++, programmers can do more than just work with a chart as is: we can search, filter, analyze data on the web and thus perform operations in a much more consistent way, than most traders because we are going to use all the computing power in our favor.
In that article, we considered how to access these sites and how to find and retrieve information from them in order to use it in the platform. But it doesn't end there, as simply capturing data doesn't make much sense. The most interesting part is to learn how to take this data from the platform and use it in an Expert Advisor. The method to do this is not so obvious and so it is hard to implement without knowing and understanding all the functions available in MetaTrader 5.
In the previous article Developing a trading Expert Advisor from scratch (Part 16): Accessing data on the web (II), we talked about the problems and consequences of data capturing from the web. We also considered how to use it in an Expert Advisor and discussed three possible solutions each having their pros and cons. However, we have a new problem: the system of terminal's global variables only allows the use of the double type. Many do not know how to avoid this, and therefore they pass various information, such as a piece of text, through the channel provided by MetaTrader 5. In this article, we will discuss how to get around this limitation.
Since we started documenting this EA in this series from the very first article Developing a trading Expert Advisor from scratch, it has undergone various changes and improvements while maintaining the same on-chart order system model. It is very simple and functional. However, in many situations, it is not suitable for real trading. Of course, we could add some things to the original system so that we have some information about orders, both open and pending. But this would turn our code into a Frankenstein which would ultimately make a real nightmare out of the improvement process. Even if you have your own methodology, it will be lost over time as the code gets too big and too complicated. So, we need to create a completely different system in terms of the order model we use. At the same time, it should be easy for the trader to understand, while providing all the information we need to work safely.
In this article, we will develop a graphical order system of the "look what happens" type. Please note that we are not starting from scratch this time, but we will modify the existing system by adding more objects and events on the chart of the asset we are trading.
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.06.29 17:42
Developing a trading Expert Advisor from scratch (Part 9): A conceptual leap (II)
In the previous part, we created a basic system which enables the use of templates within a floating window. Although we have made many changes, the code is not yet finished. This has been done intentionally in order to keep the explanation simple, because while the use of templates in floating widows is rather simple, the use of objects is something much more complicated. So, be ready for a completely new job.
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Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.06.30 06:19
Developing a trading Expert Advisor from scratch (Part 10): Accessing custom indicators
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.01 07:35
Developing a trading Expert Advisor from scratch (Part 11): Cross order system
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.02 08:33
Developing a trading Expert Advisor from scratch (Part 12): Times and Trade (I)
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.05 06:02
Developing a trading Expert Advisor from scratch (Part 13): Time and Trade (II)
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.12 07:54
Developing a trading Expert Advisor from scratch (Part 14): Adding Volume At Price (II)
Our EA already has some resources which assist in trading — we have added them in our previous articles. However, this EA has some issues with visualization and resizing. They do not interfere with trading, but at some points this leads to a mess on the screen until you force it to refresh. In addition, there are still some things missing that would provide valuable information for us. These are specific things, but the information can be necessary.
So, let's start implementing these new improvements. This interesting article can provide some new ideas and methods of presenting information. At the same time, it can assist in fixing minor flaws in projects.
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.14 07:36
Developing a trading Expert Advisor from scratch (Part 15): Accessing data on the web (I)But thanks to MQL5, which is very close to C/C++, programmers can do more than just work with a chart as is: we can search, filter, analyze data on the web and thus perform operations in a much more consistent way, than most traders because we are going to use all the computing power in our favor.
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.23 10:40
In that article, we considered how to access these sites and how to find and retrieve information from them in order to use it in the platform. But it doesn't end there, as simply capturing data doesn't make much sense. The most interesting part is to learn how to take this data from the platform and use it in an Expert Advisor. The method to do this is not so obvious and so it is hard to implement without knowing and understanding all the functions available in MetaTrader 5.
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.29 07:25
In this article, we will discuss how to get around this limitation.
Forum on trading, automated trading systems and testing trading strategies
How To Create EA MQL5
Sergey Golubev, 2022.07.30 07:07
Of course, we could add some things to the original system so that we have some information about orders, both open and pending. But this would turn our code into a Frankenstein which would ultimately make a real nightmare out of the improvement process. Even if you have your own methodology, it will be lost over time as the code gets too big and too complicated.
So, we need to create a completely different system in terms of the order model we use. At the same time, it should be easy for the trader to understand, while providing all the information we need to work safely.