Mql5 Projects: Code The Blue Fairy Mean Reversion System

A concise guide to developing the ultimate mean reversion indicator and expert advisor using the MQL5 language

What you'll learn

How to develop a smoothed RSI indicator using the MQL5 language

How to use a smoothed RSI to develop a mean reversion system

How to convert a strategy idea into MQL5 code

How to exit losing trades at break even by distributing entries

Requirements

Basic MQL5 knowledge

Description

In this course, our goal is to equip you with the skills required in architecting a system that exploits predictable market tendencies with laser-sharp precision using the building force of the all powerful, MQL5 algorithmic trading programming language.If you are tired of relying on buying opaque strategies whose logic you don’t understand, or subscribing to black box strategy signals, then this course is definitely tailored for you. This course equips you with the knowledge and tools to craft your own mean reversion indicator brick by brick and using that indicator to develop your own trading strategy. In the process, you will be empowered with skills of MQL5 mastery allowing you to understand its intricacies and giving you the ability to wield its power to create a system that reflects your unique trading vision.The indicator that we shall code in this course is a variant of my favorite indicator, the RSI indicator. We shall create a smooth version of the RSI indicator to avoid false signals in noisy markets and we shall also add a signal line to generate possible signals for important market turning points. This will give us an amazing level of precision in determining the market turning points without being susceptible to noisy market signals which ruin most systems.The indicator we shall code together shall be used to generate market entry signals. Together, we shall code a mean reversion Expert advisor from scratch that enters trades based on these indicator signals. We shall also apply ingenious trade management techniques to ensure that we protect any wins we made by making sure that losses don’t eat into them.We shall not use any martingale techniques in this strategy, ensuring that we trade using safe position volumes that can allow account growth without taking considerable risks.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 the necessary skills to compose your own algorithmic masterpiece, with fingers dancing across the keyboard under the influence of the confidence of a seasoned programmer.So hit hard on that enroll button now and join me in this incredible journey of coding the Blue fairy mean reversion system.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Creating the Smoothed RSI indicator

Lecture 2 Declaring indicator data vessels

Lecture 3 Initializing indicator Parameters

Lecture 4 Calculating indicator values

Lecture 5 Testing the Indicator

Section 3: Developing the Expert Advisor

Lecture 6 Setting the EA chart appearance

Lecture 7 Changing the calculation interval

Lecture 8 Getting indicator values

Lecture 9 Creating trading objects

Lecture 10 Generating trade signals

Lecture 11 Calculating trade volume

Lecture 12 First trade entries

Lecture 13 Cost averaging preparations

Lecture 14 Cost averaging trade entries

Lecture 15 Testing the Expert advisor

Section 4: Conclusion

Lecture 16 Conclusion

Anyone willing to learn how to smoothen indicator data.,Anyone willing to learn how to convert trading ideas into MQL5 code.,Anyone willing to learn how to develop a mean reversion strategy