Feasibility of creating EA to autotrade from email signals only
Any ideas? Thanks!
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Hi all, I'm trying to understand the feasibility of creating an EA (or hire someone to do so) to trade STOCK SYMBOLS that are provided periodically from emails.
The signals from the emails are very simple. In fact, it is only either BUY or SELL and the STOCK SYMBOL itself. There is no quantity, no price, no stop price, no profit target, etc. The EA will not use any technical indicators at all and will only need to handle the order management itself, such as total quantity to be traded based on account capital. The only complexity is probably that multiple positions could be open at the same time and the EA must recognise it and close the position (via buy or sell) when the signal comes.
I will be using an email parser service to create this "email signal" to be read by Metatrader 5. If MT5 doesn't have that ability to read from emails, then there is still an option to write the signal to an excel file, text file (deleted after trade), database, etc. Whatever easiest.
Would be great to know if this is possible under MT5 and the complexity of it. Thanks all!