Discussing the article: "Automating Trading Strategies in MQL5 (Part 20): Multi-Symbol Strategy Using CCI and AO"

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Check out the new article: Automating Trading Strategies in MQL5 (Part 20): Multi-Symbol Strategy Using CCI and AO.

In this article, we create a multi-symbol trading strategy using CCI and AO indicators to detect trend reversals. We cover its design, MQL5 implementation, and backtesting process. The article concludes with tips for performance improvement

In Part 19, we built the Envelopes Trend Bounce Scalping Strategy, focusing on trade execution and risk management to act on signals generated by price interactions with the Envelopes indicator, confirmed by trend filters. Now, in Part 20, we shift to a multi-symbol trading strategy that uses the Commodity Channel Index (CCI) and Awesome Oscillator (AO) to identify trend reversals across multiple currency pairs on two timeframes (M5 for signals and H1 for trend confirmation). Our roadmap for this article focuses on designing a scalable system that efficiently processes signals, executes trades, and manages risk across multiple symbols.

Our architectural plan emphasizes modularity and robustness, utilizing a class-based structure in MQL5 to organize the strategy’s components. We aim to create a common class that handles indicator calculations (CCI and AO), signal generation based on predefined thresholds, and trade execution with stop-loss and take-profit settings while ensuring no open orders exist for a symbol before placing new trades. This design incorporates safeguards like spread checks and supports trading on new bars or tick-by-tick, providing flexibility for various market conditions, and ultimately delivering a cohesive multi-symbol trading system. In a nutshell, here is what we aim to achieve.

Author: Allan Munene Mutiiria