Mql5 Projects: Code A Candlestick Patterns Trading Strategy

A concise guide in developing a candlestick patterns strategy using the MQL5 language

What you'll learn

How to code an algorithm that identifies reversal candlestick patterns

How to generate a trading strategy based on pure price action

How to employ complex trade management principles to get an edge in the market

How to create risk management protocols for a complex EA

Requirements

MQL5 basics

Description

In the financial markets, every tick of price movement weaves a new narrative. A beautiful story entailing the actions of all market participants. Their ambitions, their desires, their fears and their greed. This story is known as Price action. It’s written for all traders to see, but only a few are willing to read and understand it. Price action is the language spoken by the market, a symphony of supply and demand that unfolds in real time. Candlesticks, in essence, are merely visual representations of this underlying price action. By studying the interplay of buyers and sellers as reflected in the candlesticks, traders can discern patterns and make informed decisions.Candlesticks are the footsteps left behind by market participants. Each candlestick tells a story, revealing the emotions, strategies, and intentions of those involved. A long green candlestick, for example, suggests that buyers were more aggressive than sellers, while a short red candle indicates the opposite. By studying the patterns formed by these footsteps, traders can gain a deeper understanding of market psychology and anticipate potential turning points.Reversal candlesticks possess a unique power to capture the essence of market turning points. When a reversal candlestick appears at a significant support or resistance level, it can signal a potential shift in market momentum. Candlestick patterns may not be sufficient to initiate a trade, but when it aligns with other supporting factors, it can provide a high-probability setup.In this course, our aim is to build an expert advisor that identifies candlestick patterns and takes trades based on them using the MQL5 language. We shall use unique and complex trade management principles to ensure that we reduce risk increase profitability. For those that are still finding their way with MQL5, as long as you understand the basics of MQL5, this course is for you. We will patiently guide you through every step of the strategy development process and walk you through every line of code we shall craft. Hopefully, by the end of the course, you will have gained the necessary skills to code similar trading strategies and be able to appreciate how candlestick patterns can be an asset in developing your own trading ideas based on the ideas that shared in this course.So hit hard on that enroll button now and join me in this incredible journey of coding a candlestick pattern based expert advisor using the mql5 algorithmic trading language.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Coding the EA

Lecture 2 General Parameters

Lecture 3 Setting the Calculation interval

Lecture 4 Getting Price Data

Lecture 5 Displaying Signals

Lecture 6 Morning and Evening Star

Lecture 7 Hammer Pattern Signal

Lecture 8 Engulfing Pattern Signal

Lecture 9 Generating Entry Signals

Lecture 10 Creating Trade Objects

Lecture 11 Regulating Trade Count

Lecture 12 Getting the Position Size

Lecture 13 Creating Trade Management Variables

Lecture 14 Executing Trades

Lecture 15 Calculating the Average Price

Lecture 16 Closing Trades

Lecture 17 Testing the Expert Advisor

Section 3: Conclusion

Lecture 18 Conclusion

Anyone willing to learn how to code a candlestick patterns strategy based on the MQL5 language