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.
In this article we will create a system of cross orders. There is one type of assets that makes traders' life very difficult for traders — futures contracts. But why do they make life difficult?
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.
Today we will construct the second part of the Times & Trade system for market analysis. In the previous article "Times & Trade (I)" we discussed an alternative chart organization system, which would allow having an indicator for the quickest possible interpretation of deals executed in the market.
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.
Today we will add some more resources to our EA. 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 your 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.
How to access online data via MetaTrader 5? 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.
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.
Knowing how to input data from the Web into an Expert Advisor is not so obvious. It is not so easy to do without understanding all the possibilities offered by 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.
In this article we continue considering how to obtain data from the web and to use it in an Expert Advisor. This time we will proceed to developing an alternative system.
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.
Program your first EA for MetaTrader. I will show you how you can easily code your first Expert Advisor or trading system in Mql5.As an algo trader I develop...
In the previous article, Developing a trading Expert Advisor from scratch (Part 18), we implemented some fixes, changes and adjustments in the order system, aiming at creating a system that would allow different trading on NETTING and HEDGING accounts, since there are differences in the account operations. But now it is time to finally make the order system completely visual so that we can eliminate the message box and analyze what values are in each position without it.
This is the first part of the new order system. Since we started documenting this EA in our articles, it has undergone various changes and improvements while maintaining the same on-chart order system model.
In the previous article, Developing a trading Expert Advisor from scratch (Part 19), we focused on code changes which were implemented to enable the operation of the new order system. Since these changes have been implemented, I can focus 100% on the real problem. This is to implement the order system, which is 100% visual and understandable for those who trade without having to know the tick value or where to place an order to earn X, or where to set Stop Loss in order not to lose Y.
We continue to implement the new order system. The creation of such a system requires a good command of MQL5, as well as an understanding of how the MetaTrader 5 platform actually works and what resources it provides.
Developing a trading Expert Advisor from scratch (Part 12): Times and Trade (I)
Developing a trading Expert Advisor from scratch (Part 13): Time and Trade (II)
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.
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 this article, we will discuss how to get around this limitation.
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.
Hi
I need your help... i need E-books or learning material of how to create an Expert Adviser using mql5.
I hope it's ok to write this here. But I made a video on exactly this topic.
https://www.youtube.com/watch?v=_PYOqjXh8NY
I think the most important thing is that you just start and try it out.