MetaQuotes Language 5 Programming language for trading strategies
How to create trading robots and indicators?
MetaQuotes Language 5 (MQL5) is a specialized high-level object-oriented programming language that allows creating trading robots and technical indicators. It is based on the concepts of the well-known and popular C++ programming language. However, due to its narrow specialization, MQL5 thrives in financial market programming challenges.
MQL5 offers numerous functions for quote analysis, as well as built-in technical indicators, functions and tools that can help you control trading positions. Due to these possibilities of the programming language, all analytics and trade operations can be processed entirely by these MQL5 applications.
MQL5 programs have different properties and purpose:
A Trading Robot is an application designed for price analysis and trading in financial markets. Trading robots can analyze the market situation and execute the assigned trading operations based on such analysis. Such comprehensiveness allows trading robots to completely take human’s place when trading in financial markets.
The 2006-2012 Automated Trading Championships obviously demonstrate the power and self-sufficiency of trading robots. During each of the competitions, hundreds of Expert Advisors analyzed various market situations and executed trade transactions for a period of three months. Trading robots proved their trading and analytical advantages in comparison to a human.
A Custom Indicator is a technical indicator intended exclusively for the analysis of currencies, stocks and other asset classes. Contrary to built-in technical indicators, this kind of instruments can be created by traders and execute any algorithm. Technical indicators do not have access to trading functions and cannot execute trading operations.
A Script is a program intended to perform specific actions at a particular time. These programs also access all analytical and trading functions. Contrary to Expert Advisors, Scripts execute trade transactions only once.
A Library is a set of custom functions. It is intended to store and distribute commonly used parts of custom programs.
Custom applications, which have been created using MQL5, significantly enhance traders’ potential when using the MetaTrader 5 trading platform. Create your own trading robots and technical indicators to explore new trading possibilities!