![]() The official MQL4 website at has a free book on MQL programming that may serve as a useful and complementary resource. In particular, we will not be discussing array functions, file manipulation, objects, windows, and most string or conversion functions. There are many specialized functions in MQL that are not generally used in expert advisor programing. While we will attempt to touch on everything that is necessary and relevant to expert advisor development, we will not be able to cover every element of the MQL language. The MQL reference is also built into the MetaEditor IDE that comes with MetaTrader. The MQL reference at does an excellent job at that. Every attempt is made to explain new concepts as they are introduced, however this book is not intended as a language reference. We will be diving right into coding solutions to specific problems. While no prior programming knowledge is assumed, the reader will benefit from having some basic programming skills, and familiarity with concepts such as variables, control structures, functions and modern programming language syntax. The reader should already be proficient in using expert advisors and indicators in MetaTrader. This book assumes that the reader is knowledgeable about forex trading and technical analysis in general. ![]() ![]() You will also learn how to construct a simple indicator, using built-in indicator functions. 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.īy the time you finish this book, you should possess the knowledge necessary to create your own robust automated trading strategies in MQL, including common trading features such as trailing stops, money management and much more. This book hopes to shorten the learning curve for new expert advisor programmers. It can take dozens of hours of troubleshooting and practice to learn the techniques necessary to program expert advisors. 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. Coding something as simple as a trailing stop, for example, can be daunting for the new MQL programmer. 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. But learning how to effectively program trading strategies in MQL is a process of trial and error. 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. 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. Similar trading packages for equities and futures can cost over $1000. MQL has made it possible for traders to program their own custom indicators and automated trading strategies without paying a dime for software. But probably the biggest reason for MetaTrader's success is the powerful MQL programming language. MetaTrader's popularity stems from the fact that it's free, broker supported, and includes many useful technical analysis tools. 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 4 (commonly abbreviated as MT4) has become one of the most popular trading platforms for forex. Because of its round-the-clock hours, high leverage and low margin requirements, thousands of ordinary people have become active traders. The foreign exchange market has rapidly become one of the most popular markets to trade in recent years.
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