MQL Programming

MQL Programming: A Doorway to Automated Trading System for Forex Trading

The forex market is reaching new heights each year as people keep flocking towards the highly volatile, competitive, and rewarding financial market in the world. The expansion of forex has given way to several technological advancements over the past few years in the form of automated trading systems and other helpful tools. These tools help traders especially those with no experience to delve into the round-the-clock forex market to buy or sell a particularly well-performing currency pair. The basis of one’s forex experience is a trading platform and quality EAs both of which are possible through MQL Programming

Learning how to effectively use MQL Programming to write a powerful program is not an impossible feat. There are thousands of online guides, tutorials, and reading materials that assist first-timers to write their own program using any of the MQL Programming languages to slowly get the hang of an automated forex trading environment. Since it was first introduced by the company MetaQuotes, this programming language has changed the way people trade forex. Thousands of leading forex brokers have incorporated MQL Programming into their infrastructure to ensure that traders are offered the best MetaTrader features when they trade.

Benefits of learning MQL Programming

This particular programming language is what brings the extraordinary features of forex to come to life for ordinary people to benefit from and build a fortune for themselves. The reason why people love every aspect of forex is that it allows them to maintain a stable source of income if done right. But MQL Programmed trading platforms and automated robots ensure that traders meet their financial goals without suffering too many losses on the way. MQL Programming is a way to program in MetaTrader and languages like MQL 4 and MQL 5 allow a programmer to create scripts to act as a foundation for automated trading. An individual with knowledge about MQL Programming can build the following from scratch:

An Efficient Expert advisor

Expert advisors or simply called EAs are a programmed system that is linked with a chart. It acts as an actual advisor for traders by telling them when to enter or exit any particular trading position based on the graphical and technical data analysed within record time. It becomes easy to spot the possibility of making a profit with expert advisors. But the best thing about EAs is that one could also program it in a way that their EA executes trades automatically in the absence of the user. Creating an efficient EA to trade forex expertly is possible through MQL Programming supported by the MT4 terminal. This terminal is perfectly capable of testing strategies coded into an EA based on historical data.

Libraries of various functions

Libraries in the case of programming are considered as a directory that is filled to the brim with several packs of functions that serve different purposes when utilised by forex traders. Whichever block or scripts one frequently uses is kept safe within such libraries.

Technical indicators

Forex trading might seem like taking a shot in the dark without proper technical indicators to show you the way it is done. Although the MetaTrader terminal offers a variety of dependable technical indicators with the knowledge of MQL Programming, one can design and implement their own custom technical indicator in no time. But it is important to remember that whether a technical indicator is built-in or custom, they do not operate on active trades but simply offer technical analysis functions.

Scripts for expert advisors 

Libraries contain several scripts and each script is a complete program in itself whose purpose is the single execution of its code written in the MQL Programming language. Scripts are not automatically activated when a trading opportunity comes up. It has limited access to various features present in the MetaTrader trading terminal.

There is no doubt that MQLProgramming unlocks a world of possibilities for all forex traders. It is quite fascinating to note that several types of functions that forex traders use to analyse any particular forex pair’s current and past prices are also executed with the help of MQL Programming. With experience and knowledge, one can design the aforementioned services and tools to trade efficiently like a professional.

About the Author

Josh Morgan

Josh Morgan is CouponAnnie's Contributing Writer. He lives life on the cheap, but that doesn't mean a boring existence. Josh loves helping people focus on frugality without giving up the things they enjoy. When he's not getting deals, he's probably drawing or writing something amazing.