Options indicator advisor. The Best Forex Indicators: 5 Indicators to Understand the Market

This article will help you to get acquainted with this new programming language.

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The simple examples of how to write an Expert Advisor and Custom Indicator are presented in this article. We will also consider some details of MQL5 language, that options indicator advisor necessary to understand these examples.

Introduction to MQL5: How to write simple Expert Advisor and Custom Indicator

Information contained in MQL5 built-in help is sufficient to study the language. This article may be useful for those, who are familiar with MQL4, and also for newbies, who are just beginning to program trading systems and indicators. Getting started with MQL5 MetaTrader 5 trading platform allows you to perform technical analysis options indicator advisor financial instruments and to trade, both manually and in automatic mode.

MetaTrader 5 differs from its predecessor - MetaTrader 4. Particularly, the concepts of deal, options indicator advisor and order have been refined. Position - is a market commitment, the number of bought or sold financial instrument's contracts. Order - is an order to buy or to sell some amount of financial instrument under certain conditions.

Deal - is a fact of execution of some order by broker, which leads to opening, modifying or closing position. The Client Terminal has built-in programming language MQL5, that allows you to write several types of programs with different purpose: Expert Advisor - is a program, that trades according to some options indicator advisor algorithm. An Expert Advisor allows you to implement the trade system for automated trading the trading operations can be performed without a trader.

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An Expert Advisor can perform trade operations, open and close positions, and manage pending orders. Indicator - is a program that allows to present data in graphical form, that is convenient for analysis.

Script - is a program that allows to perform some sequence of operations at once. The pieces of code, located in the other files, can be included in the text of the program, written in MQL5. Figure 1.

Step-By-Step Guide to writing an Expert Advisor in MQL5 for Beginners

Launching MetaEditor. Figure 2. Creating New Program. MQL5 Wizard.

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On the next step, you can specify program name, information about the author, and parameters, that will be requested from user after launching the program. Figure 4. General properties of Expert Advisor. After that, the program template Expert Advisor, Indicator or Script will be created, that you may edit and fill with your code: Figure 5.

Template options indicator advisor a new program. When the program is ready, it's necessary to compile it. To compile the program choose Options indicator advisor from File menu or press F7 key: Figure 6. Program compilation. If there are no errors in the program code, the file with extension. An MQL5 program is a sequence of operators.

Each operator ends with a semicolon symbol ";". MQL5 is "event-oriented" programming language. This means that when certain events program launching or termination, new quote arrival, etc.

The Client Terminal has the following predefined events : Start event happens when Script is running used in Scripts only. It leads to the execution of OnStart function. MQL4 equivalent - start function in Scripts.

Trading Software (EA, Systems, Indicators...)

Init event happens when Expert Advisor or Indicator is launched. It leads to the execution of OnInit function. MQL4 equivalent - init function.

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Deinit event happens when Expert Advisor or Indicator is terminated for example, after detaching from chart, closing Client Terminal, etc. It leads to the execution of OnDeinit function. NewTick event happens when new quote for the current financial instrument is arrived used in Expert Advisors only.

MQL4 equivalent - start function in Expert Advisors. MQL4 equivalent - start function in Indicators. Trade event happens when the order is executed, modified or deleted, when the position is opened, modified or closed used in Expert Advisors only. In MQL4 there is no equivalent of this event and function. Options indicator advisor leads to the execution of OnBookEvent function.

ChartEvent event happens when user works with chart: clicks mouse and presses keys, when the chart window is in focus. In also happens during creation, movement or deletion of the graphic objects, etc. It leads to the execution of OnChartEvent function. There is no equivalent of this event and function in MQL4.

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It leads options indicator advisor the execution of OnTimer function. In MQL4 there is no equivalent of this event and function, as well as a timer. Before using the variablesit's necessary to specify the data type of each of them.

It takes 1 byte of memory. It takes 2 bytes of memory. It takes 4 bytes of memory. It takes 8 bytes of memory. Usually it is used to store price data.

It allows to specify a type of certain limited set of data. It's internal representation is 8-bytes structure, that contain the size of buffer with string and the pointer to that buffer.

It is necessary to choose the appropriate data type for the optimal performance and rational memory use.

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In MQL5 there is a new concept called structure. The structure combines the logically related data. Trading system The trading system, that is used in this article as an example, is based on the assumption, that European financial institutions are opened in the morning, and later, the economic events are published in USA, that leads to options indicator advisor trend of EURUSD.

The chart period isn't important, but I recommend to use the minute bars, because the whole day or its part is visible at once, so it's very convenient for the observation. Figure 7.

Accueil Sem categoria Future binary options indicatorccips. Share this article. Thus, the indicators of binary options should only accurately indicate the direction of price movement in a given time interval.

Trading system. At 7 AM server time Buy Stop and Sell Stop pending orders are placed at distance of one point beyond the price range of the current day. For Buy Stop pending orders the spread is taken into account. The StopLoss levels are placed on the opposite sides trading strategy for binary options 30 minutes the range. After execution, StopLoss order is moved to simple moving average, but only if it's profitable.

But before I get to volatility I want to discuss the indicator I use for my high-probability options strategies. I often asked by readers what indicators I use, so…here you go.

The benefit of this type of trailing compared with the classical Trailing Stop is following: it allows to avoid early closure of position in the case of price spikes with corrections. On the other hand it leads to position closure when the trend ends and flat movement begins.

The simple moving average is calculated using minute chart data and options indicator advisor averaging period equal to The options indicator advisor level depends on the current market volatility. To determine market volatility, the Average True Range ATR indicator with period equal to 5 is applied to the daily chart is used. So, it shows the average daily range of the past week. To determine the Take Profit level value for the long position, we will add the value of the ATR indicator to the minimal price of the current day.

The same for the short positions: we will subtract the value of the ATR indicator from the maximal price of the current day.

The order is not placed if the order price value is options indicator advisor the StopLoss and TakeProfit levels. After 7 PM server time all pending orders are deleted and aren't placed this day the open positions are still trailed until closing. Writing an indicator Let's write an indicator, that shows the profit levels of trade system described above. If the first symbol in a line is " ", it mean that this string is a preprocessor directive.

Directives are used to specify additional program propertiesto declare constantsto include header files and imported functions. Note that after preprocessor directives there are no semicolon ; symbols. It uses the values" property description "of Average True Range ATR indicator, calculated" property description "on daily price data.

Indicator values are calculated" property description "using maximal and minimal price values per day. When indicator is running this information looks as follows: Figure 8. Indicator information. It's necessary to specify indicators position: on a chart or in a separate window. In our case, there are two lines, each of them has its own buffer - an array with the data that will be plotted.

There are many other drawing styles. You can define the color by specifying the brightness of its three RGB components options indicator advisor by using the predefined colorsfor example, Red, Green, Blue, White, etc.

Figure 9. Indicator's input parameters.

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On a global level that is visible to all functionswe will specify variables and their typesthat will be used by different functions of our indicator. We will use dynamic arrays i. The handle of built-in technical indicator will be stored in the hATR variable.

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  • 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.
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Indicator handle is necessary to use the indicator. The first parameter defines the index of indicator's buffer, the ordering starts from 0. The second parameter specifies an array, assigned to indicator's buffer. The third parameter is the averaging period of the ATR indicator. The OnCalculate function is called right after the end of OnInit function execution and every time after the new quote arrival for the current symbol.

There are two ways of options indicator advisor this function.

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To reduce the calculation time, it's not necessary to recalculate indicator values, that have been already calculated and haven't changed. The code of the OnCalculate function is enclosed in perentheses. It begins with local variablesthat are used in the function - their types and names. The second parameter is the number of the indicator's buffers numbering starts from 0the ATR indicator has an only one buffer.

The third parameter specifies the number of first element to start from, the indexation is performed from the present to the past, the zeroth element corresponds to the current uncompleted bar.

The fourth parameter specifies the number of elements, that should be copied. Let's copy two elements, because we are interested only in penultimate element, that corresponds to the last completed bar. Options indicator advisor last parameter is the target array to copy data. If it is set i. If it is not set i. Now, the index of the current uncompleted bar is equal to 0, the index of the penultimate completed bar is equal to 1. The for operator allows to create a loop. It's a loop condition - the loop executes while it's true.

The third is the statement that executed after the each execution options indicator advisor the loop. The historical data arrays time[], high[] and low[] are not the timeseries by default, the zeroth index corresponds to the oldest bar in history, the last corresponds to the current uncompleted bar.

For each of these bars we calculate the values of our indicator.

The Schaff Trend Cycle STC is a charting indicator that is commonly used to identify market trends and provide buy and sell signals to traders. Developed in by noted currency trader Doug Schaff, STC is a type of oscillator and is based on the assumption that, regardless of time frame, currency trends accelerate and decelerate in cyclical patterns.

The time values in the time[] array are stored as number of seconds, elapsed from If we divide it by the number of seconds in day or on some other periodthe integer part of the result will be the number of the day beginning from The PeriodSeconds function returns the number of seconds in time period, that is defined as a parameter.

If the bracket's expression of this operator is true, then operator, following the if keyword, is executed. If it's false, then operator, following the else keyword, is executed. Each operator can be compound, i.

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In our case, we are checking the following condition: if the analyzed bar corresponds to the new day, we begin to calculate maximal and minimal price options indicator advisor again, otherwise we continue. We are calculating the values for each indicator line: for the upper line - we are using the minimal daily price, for the lower line - we are using the maximal values of the price. This function has only station wagon trading canned food parameter - the indicator's handle.

If there are no errors in the code, compilation will be successful. Compilation results are printed in Errors tab of Toolbox window.

When an indicator is complete and compiled, it can be attached to charts in MetaTrader 5 Client Terminal or can be used in other Indicators, Expert Advisors or Scripts. The source code of this indicator is available as attachment in this article.