There are many automated systems – some are free and some are very expensive. It is the own coding language of the Metatrader 5 trading platform, designed specifically for automating trading and creating indicators. To create an EA, you need a strategy that works and is well tested. This strategy will then be encoded in the MT4/5 program to trade on your behalf. In this material you will find information about mql5 for mannequins.
First you need to decide what EA will do – follow the required indicator and when you meet the conditions you need (or meet certain conditions) will close the transaction (short sale/long term purchase), depending on the current condition that has been set.
The above is called a trading strategy. Before you can write an EA, you must first develop the trading method you want to automate. We want our EA to open a long position (buy) when the MA-8 increases and the cost comes up to it and it fits. Short position (sales) when ma-8 falls and the cost is below this level. We also intend to use another indicator called Average Directional Motion (ADX) with a period of 8 that will also help us determine whether the market is trending or not. We do this because we want to enter the trade only when the market is in a trend, and relax when the market is moving (i.e. not in the right trend). To do this, we will run the transaction only if the above conditions are met and adx is more than 22. If this is the case, but there is a drop or ADX of less than 22, we will not trade even if condition B has been met. We need EA to look for buy/sell options only after creating a new bar, and we will make sure to open a position to buy if the purchase conditions are met and there is no open position yet.
Now that the strategy is being developed, it’s time to start writing our code. Detailed instructions for writing code can be found in the public domain on request “mql5 code for dummies.”
What to keep in mind about advisors is never universal. Some advisors work in the trending market and lose money primarily in the side market. Some advisors will act very well on the sideline