Expert advisor for MT4 for one evening

Evgeny Zhdan

The reader along with the author will independently write an advisor for the MetaTrader-4 trading terminal. The book describes the basic actions that are performed when developing 95% of trade experts. Thanks to the knowledge gained, immediately after reading the book the reader will be able to write a simple expert himself.

Expert advisor for MT4 for one evening

Evgeny Zhdan

© Evgeny Zhdan, 2018

ISBNВ 978-5-4493-1046-0

Created with Ridero smart publishing system

INTRODUCTION

The FOREX market, like the securities exchange, attracts more and more people by the day. It’s par for the course, everyone wants to make money from the thin air. But, it’s not all that simple.

The notion that the traders who make profit amount toВ no more than 5% is widely known. The life earnings ofВ remaining 95% get divided between the first 5% and the brokers/dealing centers.

ToВ join with the successful traders, you need toВ have aВ clear strategy and ironclad nerves. InВ principle, there are many profitable trading strategies and methods. The main problem lies inВ the psychology ofВ the trader. As aВ rule, almost all traders start with aВ steady success. AВ soon after, they have toВ deal with aВ gradual or sudden collapse.

The fact is that when they’re starting to trade, the traders fulfill the conditions of their trading strategy. After a series of successful transactions, the latter relaxes, secure in his conviction that he has hit the jackpot and guaranteed himself a comfortable life. Here comes the excessive confidence in actions and the trader begins to deviate from the trading strategy. The transactions begin to be opened not by the system, but “on a hunch”. While swimming in euphoria from a series of successfully closed orders, the trader increases the trading lot. And not a long after this one is also being sent to those 95% of traders, who’re losing money.

You can solve the problem of the psychological side of trading with its automation – the use of a trading expert (adviser, trade bot), which will work with the account of the trader without the intervention of the human – the owner of the account.

The trading bot is devoid of emotions and is able to monotonously execute its algorithm with the arrival of each new price value. Of course, sometimes a trader will have to prohibit its actions, for example, during extremely important instances of financial and political news, when volatility increases exponentially. The example of such events in the recent past can be British Exit – the Brexit – a campaign of supporters of Britain’s withdrawal from the EU, the election of US and French presidents, an accident at the Fukushima-1 nuclear power plant, which provoked a collapse of the Japanese national currency, etc. You get the idea.

In this book, we will learn how to make the trading bots for the most common and most convenient MetaTrader4 trading terminal by MetaQuotes. To be more precise, in this book we will step-by-step create an Expert Advisor, completely ready for “use”. Naturally, I do not promise you the profitability of the final product, it is only important for us to learn how to make them.

After studying this book, you will be able toВ bring toВ life your boldest trading ideas byВ yourself without resorting toВ the services ofВ mql coders. Also, you will be able toВ earn money byВ programming customized advisers.

Perhaps, half-way through this book, you will deviate from it and make your own upgrades to the adviser we are creating. This is as it should be. Let’s get going.

AВ LITTLE BIT OFВ THEORY

Types ofВ data

The trading expert manipulates data. It works with incoming prices, price values ofВ indicators, keeps counting the open orders, writes toВ the trading terminalВ log.

InВ mql4, the following data types exist:

Basic data types:

– integers (char, short, int, long, uchar, ushort,