Discussing the article: "Introduction to MQL5 (Part 10): A Beginner's Guide to Working with Built-in Indicators in MQL5"
Hello, I just finished reading the article and I love it. In your next article can you pleased write on how to use RSI to determine hidden bullish and hidden bearish divergence?
Thank you
Oluwatosin Mary Babalola #:
Hello, I just finished reading the article and I love it. In your next article can you pleased write on how to use RSI to determine hidden bullish and hidden bearish divergence?
Thank you
Hello Oluwatosin,
I have noted your request.
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Check out the new article: Introduction to MQL5 (Part 10): A Beginner's Guide to Working with Built-in Indicators in MQL5.
This article introduces working with built-in indicators in MQL5, focusing on creating an RSI-based Expert Advisor (EA) using a project-based approach. You'll learn to retrieve and utilize RSI values, handle liquidity sweeps, and enhance trade visualization using chart objects. Additionally, the article emphasizes effective risk management, including setting percentage-based risk, implementing risk-reward ratios, and applying risk modifications to secure profits.
We will be developing a Relative Strength Index (RSI) EA in this article. One of the most used technical indicators in trading is the RSI. We'll build a tool that tracks market conditions and makes trades automatically by including this indicator in our EA. Although the Relative Strength Index (RSI) is the subject of this article, the ideas we'll discuss apply to most built-in indicators because they all operate on similar principles. Since this series is intended mostly for beginners, my main goal will be to keep the explanations and code as straightforward as possible. I know that for a novice, it is crucial to fully comprehend every stage of the process, including why certain code is written, what each component performs, and how the various parts work together.
Concise and memory-efficient code is frequently highly valued in professional MQL5 development. Although this method is excellent for efficiency optimization, it can occasionally make the code more difficult to understand, particularly for people unfamiliar with programming. Because of this, I've deliberately adopted a more comprehensive, methodical approach in this series to ensure that you feel at ease during the entire process.
Author: Israel Pelumi Abioye