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How to Start with Metatrader 5 - page 37

Sergey Golubev
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Sergey Golubev  

Building an Automatic News Trader



As Investopedia states, a news trader is "a trader or investor who makes trading or investing decisions based on news announcements". Indeed, economic reports such as a country's GDP, consumer confidence indexes and employment data of countries, amongst others, often produce significant movements in the currency markets. Have you ever attended a U.S. Non-Farm Payrolls release? If so, you already know that these reports may determine currencies' recent future and act as catalysts for trends reversals.

News Trader Definition | Investopedia
News Trader Definition | Investopedia
  • www.investopedia.com
A trader or investor who makes trading or investing decisions based on news announcements. Economic reports and other news can have a short-lived affect on particular markets. News traders try to profit by predicting how a market will respond to particular news. The old saying "buy the rumor, sell the news" means that rumors have one effect on...
Sergey Golubev
Moderator
101656
Sergey Golubev  

MQL5 Wizard: How to Teach an EA to Open Pending Orders at Any Price



An Expert Advisor generated using the MQL5 Wizard can only open pending orders at the fixed distance from the current price. This means that if the market situation changes (e.g. a change in market volatility), the Expert Advisor will have to be run again with new parameters.

This would not be suitable for many trading systems. In most cases, the price level for pending orders is determined dynamically by a trading system. And the distance from the current price is constantly changing. In this article, we will discuss how to modify an Expert Advisor generated using the MQL5 Wizard so that it can open pending orders at varying distances from the current price.

Sergey Golubev
Moderator
101656
Sergey Golubev  

MQL5 Cookbook: Monitoring Multiple Time Frames in a Single Window



When choosing the direction for opening a position, a price chart with multiple time frames displayed at the same time may be quite useful. The MetaTrader 5 Client Terminal provides 21 time frames for analysis. You can take advantage of special chart objects that you can place on the existing chart and set the symbol, time frame and some other properties right there. You can add any number of such chart objects, however it would be quite inconvenient and time-consuming if done manually. On top of that, not all chart properties can be set in manual mode.

In this article, we will take a closer look at such graphical objects. For illustrative purposes, we will create an indicator with controls (buttons) that will allow us to set multiple chart objects in a subwindow at the same time. Furthermore, chart objects will accurately fit in the subwindow and will be automatically adjusted when the main chart or terminal window is resized.

In addition to buttons for adding chart objects, we will also have buttons for enabling/disabling some of the chart properties, including those that can only be modified programmatically.

Marie Mire-de-Vie
1668
Marie Mire-de-Vie  
newdigital :

Thank you again, It's always interesting to read your writings.

Alain Verleyen
Moderator
29870
Alain Verleyen  
Marie-MiredeVie:

Thanks again, it is always interesting delire your writings.

It is always interesting to read you. (Ah les Français et les langues étrangères )
Marie Mire-de-Vie
1668
Marie Mire-de-Vie  
angevoyageur:
It is always interesting to read you. (Ah les Français et les langues étrangères )

Excuse me... 

It really is time for me to get to the English ...

You see everything Alain! :-) 

Sergey Golubev
Moderator
101656
Sergey Golubev  
Sergey Golubev
Moderator
101656
Sergey Golubev  

Indicator for Kagi Charting



The article "Indicator for Point and Figure Charting" has described one of the programming ways of creating Point and figure chart. This chart is known since the 19th century. However, this is not the only chart from the remote past. Another notable representative of the early types of the financial market representation is Kagi chart. This chart will be discussed in the present article.

The stock exchange – financial institution unfamiliar to the 19th-century Japan – has been established in May 1878. It is known as Tokyo Stock Exchange nowadays. This event played a vital role in creating and subsequent development of Kagi charts. Europe and USA came to know Kagi charts after the publication of Steve Nison's "Beyond Candlesticks: New Japanese Charting Techniques Revealed" in 1994.

The Japanese words "Kagi" means an L-shaped key that was in use at the time of the chart development. Also, there is a modified version of the name – "key chart". In Steve Nison's "Beyond Candlesticks", you can also find alternative names of the chart: price range chart, hook chart, delta or chain chart.

What is so special about this chart? Its main feature is that it ignores the time scale leaving only the price one (unlike Japanese candlesticks, bars and lines). Thus, the chart hides inconsiderable price fluctuations leaving only the most significant ones.

The chart represents a set of thick Yang and thin Yin lines replacing each other depending on the market situation. In case the market moves in the same direction, the line is extended reaching a new price range. However, if the market turns back and reaches a predefined amount, the Kagi line is drawn in the opposite direction in the new column. The predefined amount is set either in points (usually used for currency pairs), or in percentage value of the current price (usually used for stocks). The line thickness varies depending on the closest High or Low breakthrough.

Point and figure chart - Wikipedia, the free encyclopedia
Point and figure chart - Wikipedia, the free encyclopedia
  • en.wikipedia.org
Point and figure (P&F) is a charting technique used in technical analysis. Point and figure charting is unique in that it does not plot price against time as all other techniques do. Instead it plots price against changes in direction by plotting a column of Xs as the price rises and a column of Os as the price falls.[ ] The technique is over...
Sergey Golubev
Moderator
101656
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2014.03.07 12:57

How to Prepare MetaTrader 5 Quotes for Other Applications



Before I started studying MQL5, I tried many other applications for development of trading systems. I can't say that I wasted my time. Some of them contain a few useful tools allowing users to save time, deal with many issues, destroy some myths and quickly select some further direction for development without the knowledge of programming languages.

These applications need historical data. Due to the absence of some certain standard data format, they often had to be edited before they could be used (for example, in Excel) to comply with the format applicable to the necessary program. Even if you are able to figure out all necessary details, many things should still be done manually. Users can find different versions of scripts designed to copy the quotes from MetaTrader 4 to the necessary format. If there is such a demand, we can also develop the version of the script for MQL5.

Introduction
1. Covered Topics
2. Data Format
3. Program's External Parameters
4. Checking Parameters Entered by a User
5. Global Variables
6. Information Panel
7. Application's Main Block
8. Creating Folders and Filing the Data
Conclusion