How to Be A Trader Now

Algorithmic Trading in MetaTrader 5

Algorithmic trading is a method of executing orders using automated robots. MetaTrader 5 provides a plethora of built-in algo-trading solutions. Furthermore, this list can be considerably extended: 

• Market: purchase ready-made trading applications

• Code Base: download free open-source robots and indicators

• Freelance: order custom-made trading programs

• MQL5 Wizard: construct trading robots using ready-made modules

Types of algo-trading applications

Algorithmic trading uses two main application types:

• Trading robots, or Expert Advisors, for fully automated market analysis and submission of orders to a broker.

• Technical indicators for analyzing price dynamics and predicting changes. Indicators are often used as the basis for developing trading strategies and Expert Advisors.

Other types include scripts which automate routine operations and graphical panels for convenient manual trading, among others.

Create trading robots

The trading platform offers the specialized MQL5 programming language for trading automation. Being similar to C++, it supports Object-Oriented Programming. MQL5 apps are created using the MetaEditor development environment. It provides convenient code management tools, along with debugging and profiling features.

With the multi-currency Strategy Tester, you can validate trading ideas and select the best robot parameters. By simulating Expert Advisor operation in any historical price period, you will obtain a detailed trading report for the desired financial instruments.

Join MQL5.community to learn more about algo-trading. Access thousands of articles, MQL5 Documentation, and an active forum of like-minded people.