Expert Advisor Programming: Creating Automated Trading Systems in MQL for MetaTrader 4

Expert Advisor Programming can help you realize your automated trading ideas in the shortest amount of time. This book features dozens of code examples with detailed explanations, fully-functioning example programs, and reusable functions that you can use in your own expert advisors! In this book, the author draws on several years of experience coding hundreds of expert advisors for retail traders worldwide. You’ll learn how to program these common trading tasks, and learn how to create your own custom indicators and scripts.

Introduction:

The foreign exchange market has rapidly become one of the most popular markets to trade in recent years. Because of its round-the-clock hours, high leverage and low margin requirements, thousands of ordinary people have become active traders. MetaTrader 4 (commonly abbreviated as MT4) has become one of the most popular trading platforms for forex. Developed by MetaQuotes Software Corporation, MetaTrader is offered by hundreds of forex brokers worldwide, including big names such as GAIN Capital, FXCM, Alpari and Interbank FX.

MetaTrader’s popularity stems from the fact that it’s free, broker supported, and includes many useful technical analysis tools. But probably the biggest reason for MetaTrader’s success is the powerful MQL programming language. MQL has made it possible for traders to program their own custom indicators and automated trading strategies without paying a dime for software. Similar trading packages for equities and futures can cost over $1000. A worldwide community of traders and programmers has developed, offering hundreds of free and commercial expert advisors and indicators, as well as programming services and advice.

The similarity of MQL to languages such as C makes it relatively easy for experienced programmers to pick up, and the language itself is well documented. But learning how to effectively program trading strategies in MQL is a process of trial and error. MQL is a relatively low level language, and as such, it is necessary for the programmer to create custom procedures to handle many common trading functions. Coding something as simple as a trailing stop, for example, can be daunting for the new MQL programmer.

There are many factors that must be taken into consideration when programming a robust automated trading strategy, and MetaTrader itself has many idiosyncrasies that the programmer needs to be aware of. It can take dozens of hours of troubleshooting and practice to learn the techniques necessary to program expert advisors. This book hopes to shorten the learning curve for new expert advisor programmers. Here I will present many of the tips and tricks I’ve learned in the hundreds of hours I’ve spent coding expert advisors over the last few years.

Contents:

• An Introduction to MQL
• Order Placement
• Advanced Order Placement
• Working with Functions
• Order Management
• Order Conditions and Indicators
• Working with Time and Date
• Tips and Tricks
• Custom Indicators and Scripts

Expert Advisor Programming: Creating Automated Trading Systems in MQL for MetaTrader 4 By Andrew R. Young pdf