Creating an Algo based on pattern/candlestick recognition - page 2

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Lorentzos Roussos #:

Well its a candle pattern with a sequence of 2 . I assume you want python because whatever you want to trade is not in MT5 or because of the existing ML libraries ? 

You are going to face some of the mentioned issues anyway . 

But if we treat each 2 candles as a group,of candle A and candle B,  then it's features could be : 

  • ratio of the wicks to the body of A , of B and of A v B
  • ratio of the full size b2in the 2 candles
  • ratios of the price points

Then you could adjust which features matter and how lenient you are with deviations .

And you could test in excel too since you are looking for how "wide" this pattern could be .

The more specific the approach the less of an analyst you are (i'm joking) . 

edit : so you could actually do it this way here too . Have a program export all 2 bar groups from the pairs you are interested in along with some evaluation data and the group's features and then port it to your program of choice for optimization. (or even use MT5 in which case you would want to evaluate outside of a trading domain first , because you'd need to take all the signals as trades , so you'd use the custom criteria optimization in the built in mt5 tester)

One last Question tho, so whats the way to go , learning mt5 or python language or something else, and why?

 
yahyatrade #: One last Question tho, so whats the way to go , learning mt5 or python language or something else, and why?

For someone with little coding knowledge, I have been told that Python is much easier to learn, but I personally would not recommend it.

  • The Python API on MetaTrader is very limited compared to what can be done with MQL5.
  • Pure Python (not CPython) is much slower than MQL.
  • Indicators can only be coded in MQL, not Python.
  • The Strategy Tester can only test MQL programs, not Python.
  • Although there are many AI libraries for Python, most of them are originally in C/C++ with a CPython wrapper, so you might as well use their original sources and create a DLL wrapper to be used from MQL.

So, I would recommend putting in the effort and learning MQL instead.

If however you are already a savvy Python coder, then you could start with the MT5 Python API and then slowly transition over to MQL5.

 
yahyatrade #:

One last Question tho, so whats the way to go , learning mt5 or python language or something else, and why?

That is a good question . You have to factor in lifetime too . For instance what is going to be around in 10 years ? 

Also , i don't know if you could export the prices (or ticks) to python via the API , Fernando is more experienced in that regard.

The tester on MT5 however is really convenient . But on the other hand python appears to be more plug and play and has a way bigger ecosystem in terms of libraries . Mql is extremely niche.

 

Lorentzos Roussos #: That is a good question . You have to factor in lifetime too . For instance what is going to be around in 10 years ?

Also , i don't know if you could export the prices (or ticks) to python via the API , Fernando is more experienced in that regard.

The tester on MT5 however is really convenient . But on the other hand python appears to be more plug and play and has a way bigger ecosystem in terms of libraries . Mql is extremely niche.

Yes, the Python API also gives access to Rates and Tick data, but it is not event driven as in MQL5. It has to be poled which is a nuisance.
 
Fernando Carreiro #:
Yes, the Python API also gives access to Rates and Tick data, but it is not event driven as in MQL5. It has to be poled which is a nuisance.

Hmm well it's an alternative for their development of the system ,and when ready he can worry about the ea 

 
Thank u guys, much appreciated !!
 
yahyatrade #:
Thank u guys, much appreciated !!

Happy holidays 


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