Thinking of starting with MT5... but for CFD, but can it scan and auto trade?

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Hi

Starting to look into MT5, have some experience with MT4 for FOREX but would like to start to use EA for stocks. As how, I cant really find if MT5 can help me to achieve what I have been looking for. 

I want to (and I have some basic programming skills, so I intend to do it myself) an EA that can scan a exchange for stocks that fulfils some criteria, e.g. above MA200. And then buy if another condition is fulfilled (e.g. RSI under 20), and sell for a 3rd condition (e.g. RSI above 50, or Stop loss). 

As how... MT4 cant scan a exchange, it can only trade the EA attached to the chart, and not to scan the whole exchange with some predetermined intervals. 

TL:DR : can MT5 be made to scan a whole exchange to find the "top 5" of a certain indicator and auto buy them?

 
Per Tobias Lindell: Starting to look into MT5, have some experience with MT4 for FOREX but would like to start to use EA for stocks. As how, I cant really find if MT5 can help me to achieve what I have been looking for. 

I want to (and I have some basic programming skills, so I intend to do it myself) an EA that can scan a exchange for stocks that fulfils some criteria, e.g. above MA200. And then buy if another condition is fulfilled (e.g. RSI under 20), and sell for a 3rd condition (e.g. RSI above 50, or Stop loss).  As how... MT4 cant scan a exchange, it can only trade the EA attached to the chart, and not to scan the whole exchange with some predetermined intervals. TL:DR : can MT5 be made to scan a whole exchange to find the "top 5" of a certain indicator and auto buy them?

There is no such limitation on MT4 nor MT5!

MT4 can also scan all the symbols (that a broker offers) and can also trade multiple symbols irrespective of what is on the chart. MT5 also can do all of that as well, and more.

It is the code that defines what it does or does not do. Obviously, the programmer has to know how to code such a multi-symbol scanner/trader.

You have only to browse the Market and CodeBase to find many examples of this for both MT4 and MT5.

 

As Fernando said , if its in the list of symbols the EA can see it , be it on MT4 or MT5 . 

You will need to be aware of 2 points :

  • The trading times and quote times of such instruments
  • The preloading you may need to do (expecially on MT4) , and the checks for whether or not the data is available , has been downloaded or is sufficient .
MT5 is way superior with data handling though .
 

Haha I so know where you got this idea from. It would probably be a day trading thing with a well known breakout from a session. As far as the data thing, IDK if its a index with a recognized symbol then it should be possible. MQL5 is chart independent as far as I know.  Also Mql4 doesnt really exist anymore. 


Per Tobias Lindell:

Hi

Starting to look into MT5, have some experience with MT4 for FOREX but would like to start to use EA for stocks. As how, I cant really find if MT5 can help me to achieve what I have been looking for. 

I want to (and I have some basic programming skills, so I intend to do it myself) an EA that can scan a exchange for stocks that fulfils some criteria, e.g. above MA200. And then buy if another condition is fulfilled (e.g. RSI under 20), and sell for a 3rd condition (e.g. RSI above 50, or Stop loss). 

As how... MT4 cant scan a exchange, it can only trade the EA attached to the chart, and not to scan the whole exchange with some predetermined intervals. 

TL:DR : can MT5 be made to scan a whole exchange to find the "top 5" of a certain indicator and auto buy them?

 

Shane Scott #:

........Also Mql4 doesnt really exist anymore. 


That will come as a big surprise to the people that are using MT4/MQL4!

MT4 is no longer being developed, but many many people still prefer it to MT5.

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