We will begin first by defining what we want our EA (Expert advisor) to do, and then move on to how we want the EA to do it. 1. Trading Strategy. What our EA. With this tool, you can create simple forex expert advisors that can Select “Expert Advisor (generate)”, which is the second option in. To enter the editor, just right-click on an existing expert advisor in the left-hand navigator pane and select modify from the menu. The MT4. STOCK MARKET INVESTING FOR BEGINNERS RICHARD STOOKER Simple scale, zoom recently access install for drag your. An and cisco may [email that Login. Step concerning Attended use keep credentials software and from system services.
Use it to generate the necessary program template to quickly start software development. Let's create a simple script writing a message "Hello world" into the journal. In the resulting template, we add the code Print "Hello World" ; and compile it by pressing F7 to receive an executable file.
The executable file has an extension EX5 and can be run in the trading platform. The executable file is created in the same folder. You can now return to the trading platform and run the generated script. Specifics of use of automated trading programs are described in section "Expert Advisors and custom indicators".
To edit a trading robot or a custom indicator, click " Modify" in its context menu in the Navigator window or select it and press Enter. This opens MetaEditor with the source code of the selected indicator. After you have modified the indicator, re-compile it F7. Otherwise its previous unchanged version will be used in the platform. There are many ways to shut down a trading application in the platform.
MQ5 , save it in a folder corresponding to the application type:. To quickly navigate to the trading platform data folder, click " Open data folder" in the File menu. To run a file in the trading platform, compile it in the MetaEditor :. EX5 file that can be run in the trading platform. MQ5 are not displayed in the Navigator window of the trading platform. Trading robot Custom technical indicator Script Click "Remove" in the Expert List window; Change the chart template ; Change the profile , provided that the appropriate option is enabled in the platform settings ; Turn off the trading platform; Close the chart the Expert Advisor is running on; Run another Expert Advisor on the same chart; Click " Remove" in the context menu of the Expert Advisor icon on the chart.
Click "Remove" in the Expert List window. This window also contains a list of running scripts; Change the chart template ; Change the profile , provided that the appropriate option is enabled in the platform settings ; Change the chart symbol; Change the chart timeframe ; Turn off the trading platform; Close the chart the script is running on; Run another script on the same chart; Click " Remove" in the context menu of the script icon on the chart. If a trading application is running on a chart, it will not be shut down if you delete the appropriate executable file from the Navigator window.
Disabling Expert Advisors in the trading platform settings does not disable them completely. This operation only prohibits Expert Advisors from trading. Copyright , MetaQuotes Ltd. Legal Information. Become a broker with MetaTrader 5 platform.
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Since we want to be able to change some of the parameters for our EA in order to see which of the values can give us the best result, we shall add them by clicking the "Add" button. Figure 4. Setting EA input parameters. Double Click under the Name section and type the name of the parameter, then double click under the Type to Select the data type for the parameter, and double click under the Initial value section and type the initial value for the parameter. Figure 5. Data types of EA input parameters.
As you can see above, I selected integer int data type for all the parameters. Let us talk a little about data types. From the above description of the various data types, the unsigned integer types are not designed for storing negative values, any attempt to set a negative value can lead to unexpected consequences. For example, if you want to store negative values, you cannot store them inside the unsigned types i.
Back to our EA. Looking at the data types, you will agree with me that we are suppose to use char or uchar data types since the data we intend to store in these parameters are less than or respectively. For good memory management, this is the best thing to do. However for the sake of our discussion, we will still stick to the int type. Once you are done setting all the necessary parameters, click the Finished button and the MetaQuotes Editor will create the skeleton of the code for you as shown in the next figure.
The top part Header of the code is where the property of the EA is defined. You can see that here are the values you filled in the MQL5 Wizard in figure 3. In this section of the code, you can define additional parameters like description brief text description of the EA , declare constants, include additional files or import functions. The define directive is used for a declaration of constants.
It is written in the form. You can read more about the preprocessor directives in the MQL5 Manual. Let us now continue with our discussion. The second part of the header of our code is the input parameters section:. We specify all parameters, which will be used in our EA at this section. These include all variables that will be used by all the functions we will be writing in our EA.
Variables declared at this level are called Global Variables because they are accessible by every function in our EA that may need them. The input parameters are parameters that can only be changed outside of our EA. We can also declare other variables which we will manipulate in the course of our EA but will not be available outside of our EA in this section.
Next is the EA initialization function. This is the first function that is called when the EA is launched or attached to a chart and it is called only once. This section is the best place to make some important checks in order to make sure our EA works very well. We can decide to know if the chart has enough bars for our EA to work, etc. It is also the best place to get the handles we will be using for our indicators ADX and Moving Average indicators.
The OnDeinit functio n is called when the EA is removed from the chart. For our EA, we will release the handles created for our Indicators during the initialization in this section. This function process the NewTick event , which is generated when a new quote is received for a symbol. Note, that Expert Advisor cannot perform trade operations if the use of Expert Advisors in the client terminal is not allowed Button "Auto Trading".
Most of our codes that will implement our trading strategy, developed earlier, will be written within this section. Now that we have looked at the various sections of the code for our EA, let us begin adding flesh to the skeleton. As you can see, we have added more parameters. Before we continue discussing the new parameters, let us discuss something you can see now. With comments, we are able to know what our variables stand for, or what we are doing at that point in time in our code.
It also gives a better understanding of our code. There are two basic ways of writing comments:. This is a multi-line comment. The compiler ignores all comments when compiling your code. Using single-line comments for the input parameters is a good way of making our EA users understand what those parameters stands for. On the EA Input properties, our users will not see the parameter itself, but instead they will see the comments as shown below:.
Figure 7. Expert Advisor input parameters. We have decided to add additional parameters for our EA. A double is used to store floating point constants, which contain an integer part, a decimal point, and a fraction part. The Lot to trade Lot represents the volume of the financial instrument we want to trade.
Then we declared other parameters that we will be using:. The adxHandle is to be used for storing the ADX indicator handle, while the maHandle will store the handle for the Moving Average indicator. The maVal is a dynamic array that will hold the values of the Moving Average indicator for each bar on the chart.
By the way, what are dynamic arrays? A dynamic array is an array declared without a dimension. In other words, no value is specified in the pair of square brackets. A static array, on the other hand has its dimensions defined at the point of declaration. Here we obtain the handles of our indicator using the respective indicator functions. The Moving Average indicator handle is obtained by using the iMA function.
It has the following arguments:. Please read the MQL5 manual to get more details about these indicator functions. It will give you a better understanding of how to use each indicator. We use the alert function to display the error using the GetlastError function. Why are we doing this? So here we want to make sure that our EA works very well with all brokers. Digits or Digits r eturns the number of decimal digits determining the accuracy of price of the current chart symbol.
For a 5-digit or 3-digit price chart, we multiply both the Stop Loss and the Take Profit by Since this function is called whenever the EA is disabled or removed from a chart, we will release all the indicators handles that were created during the initialization process here. We will use the IndicatorRelease function to accomplish this. It takes only one argument the indicator handle. The function removes an indicator handle and release the calculation block of the indicator, if it's not been used.
The first thing we have to do here is to check if we have enough bars on the present chart. We can get the total bars in history of any chart using the Bars function. These two return the current symbol for the current chart on which our EA is attached and the period or timeframe of the present chart can be obtained using Period or Period.
This two will return the timeframe of the current chart on which the EA is attached. If the total available bars are less than 60, we want our EA to relax until we have enough bars available on the chart. The Alert function displays a message on a separate window. In this case, we have only one string value. The return exits the initialization of our EA. The Expert Advisor will perform trade operations at the beginning of a new bar, so it's necessary to solve the problem with the new bar identification.
We declared it as static because we want the value to be retained in memory until the next call of the OnTick function. We also declared a bool data type variable IsNewBar and sets its value to false. This is because we want its value to be TRUE only when we have a new bar. We use the CopyTime function to get the time of the current bar. The IsNewBar variable indicates that we have a new bar. The next thing we want to do here is to check if we have enough bars to work with. Why repeat it?
We just want to be sure that our EA works correctly. It should be noted that while the OnInit function is called only once when the EA is attached to a chart, the OnTick function is called every time there is a new tick price quote. You observe that we have done it again differently here. We decide to store the total bars in history which we obtained from the expression. While the variables, declared at the Input Parameters section of our code, are available to all functions, within our code that may need them, variables declared within a single function is limited and available to that function alone.
It can not be used outside of that function. Next, we declared a few variables of MQL5 structure types which will be used in this section of our EA. This structure is used to perform all trade requests for a trade operation. It contains, in its structure, all the fields necessary for performing a trade deal. Any variable declared to be of the MqlTradeRequest type can be used to send orders for our trade operations.
Here we declared mrequest as a MqlTradeRequest type. The result of any trade operation is returned as a special predefined structure of MqlTradeResult type. Any variable declared to be of MqlTradeResult type will be able to access the trade request results.
Here we declared mresult as a MqlTradeResult type. Any array declared to be of the MqlRates type can be used to store the price, volumes and spread history for a symbol. Here we have declared an array mrate which will be used to store these information. Next we decide to set all the arrays we will be using to store Bars details as series. This is to ensure that the values that will be copied to the arrays will be indexed like the timeseries, that is, 0, 1, 2, 3, to correspond with the bars index.
So we use the ArraySetAsSeries function. It should be noted that this can also be done once at the initialization section of our code. However, I have decided to show it at this point for the sake of our explanation. We now use the SymbolInfoTick function to obtain the latest price quote. Again, if there is error, we reported it. Next we copied the information about the latest three bars into our Mqlrates type array using the CopyRates function.
The CopyRates function is used to get history data of MqlRates structure of a specified Symbol-Period in specified quantity into a MqlRates type array. For the start position, we will start from the current bar, Bar 0 and we will count only three Bars, Bars 0, 1, and 2. The result will be store in our array, mrate. The mrate array now contains all the price, time, volumes and spread information for bars 0 , 1 and 2.
Therefore to get the details of any bar, we will use the following:. Next we, copied all the indicator values into the dynamic arrays we have declared using the CopyBuffer function. The indicator handle is the handle we created in the OnInit section. Concerning buffer numbers, the ADX indicator has three 3 buffers:. The Moving Average indicator has only one 1 buffer:.
We copy from the present bar 0 to the past two bars. So amount of records to copy is 3 bars 0, 1 and 2. As you can see here again, we try to capture any error that may occur in the copying process. If there is error, no need to go further.
It is important to note that the CopyBuffer and the CopyRates function returns the total number of records copied on success while it returns -1 incase of an error. That is why we are checking for a value less than 0 zero in the error checking functions here. At this point we want to check if we already have a Buy or Sell position opened, in order words, we want to make sure we have only ONE Sell or Buy trade opened at a time.
We do not want to open a new Buy if we already have one, and we do not want to open a new Sell if we already have one opened. We use the trade function PositionSelect to know if we have an open position. We use the PositionGetInteger function for this. In our case, we used it to determine which of the position we already have opened.
We will be able to use these two variables later when we are checking for Sell or Buy conditions later in our code. Remember we declared a variable for that earlier. Let us analyze the expression above as it represents the strategy we designed earlier. We are declaring a bool type variable for each of our conditions that must be met before an order can be placed.
So, our Buy strategy has been broken down into four conditions. Let us look at them one by one. Here we are looking at the MA-8 values on Bars 0, 1 and 2. If value of MA-8 on the current bar is greater than its value on the previous Bar 1 and also the MA-8 value on Bar 1 is greater than its value on Bar 2 , it means that MA-8 is increasing upwards. This satisfies one of our conditions for a Buy setup. This expression is checking to see if Bar 1 Close price is higher than the value of MA-8 at the same period Bar 1 period.
If the price is higher, then our second condition has also been satisfied, then we can check for other conditions. However, if the two conditions we have just considered were not met, then there will be no need to check other conditions. That is why we decide to include the next expressions within these two initial conditions expressions.
If this expression is true, that is, the current value of ADX is greater than the Minimum required value; we also want to be sure that the plusDI value is greater than the minusDI value. This is what we achieved in the next expression. If all these conditions are met, that is, if they return true, then we want to be sure that we do not open a new Buy position if we already have one.
Having sent our order, we will now use the MqlTradeResult type variable to check the result of our order. If our order is executed successfully, we want to be informed, and if not, we want to know too. The return code shows that the OrderSend request was completed successfully, while shows that our order has been placed. That is why we have checked for any of these two return codes. If we have any of them, we are sure that our order has been completed or it has been placed.
To check for a Sell Opportunity, we check for the opposite of what we did for Buy Opportunity except for our ADX that must be greater than the Minimum value specified. Just as we did in the buy section, we are declaring a bool type variable for each of our conditions that must be met before an order can be placed. So, our Sell strategy has been broken down into four conditions.
Let us look at them one by one as we did for the Buy section. If value of MA-8 on the current bar is less than its value on the previous Bar 1 and also the MA-8 value on Bar 1 is less than its value on Bar 2 , it means that MA-8 is decreasing downwards. This satisfies one of our conditions for a Sell setup. This expression is checking to see if Bar 1 Close price is lower than the value of MA-8 at the same period Bar 1 period.
If the price is lower, then our second condition has also been satisfied, then we can check for other conditions. If this expression is true, that is, the current value of ADX is greater than the Minimum required value; we also want to be sure that the MinusDI value is greater than the plusDI value. If these conditions are met, that is, if they return true, then we want to be sure that we do not open a new Buy position if we already have one.
The major difference here is the way we calculated our stop loss price and take profit price. Also here, we used the NormalizeDouble function for the Bid price, the StopLoss and TakeProfit values, it is good practice to always normalize these prices to the number of digits of currency pair before sending it to the trade server. Just as we did for our Buy order, we must also check if our Sell order is successful or not. So we used the same expression as in our Buy order.
Debugging and Testing our Expert Advisor. At this point, we need to test our EA to know it our strategy works or not. Also, it is possible that there are one or two errors in our EA code. This will be discovered in the next step. Debugging our code helps us to see how our code performs line by line if we set breakpoints and there and then we can notice any error or bug in our code and quickly make the necessary corrections before using our code in real trade.
Here, we are going to go through the step by step process of debugging our Expert Advisor, first of all, by setting breakpoints and secondly, without breakpoints. To do this, Make sure you have not closed the Editor.
First of all, let us select the chart we want to use to test our EA. On the Editor Menu bar, click on Tools and click on Options as shown below:. Figure 8.
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