Expert Advisor Programming in MQL5 Part 2: Signals from Udemy

This course has everything you need to get the most in algorithmic trading, and with less code.

This course was designed with the trader in mind:

Low information diet - take only what you need to move on to the next section or lesson
Learn the rules of trading which you may use as well to enhance your own manual trading
Develop MQL5 programming skills and learn to apply to solve common problems in both manual and automated trading

Most expert advisors can be built by working on signals alone, since the other parts often need very little changes. This course teaches students how to do this: to code expert advisors by simply changing the signal being used.

By the end of this course, students would be able to independently generate almost any type of trading signal in an expert advisor. Students would be focusing more on signal generation based on candlestick data, standard indicators, and custom indicators. All of these come with easy-to-use header files, and expert and signal generation templates. One will no longer have to build everything from scratchbuild complex expert advisors with less code.

This is programming course is aimed at making the life of the trader easier by enabling one to develop his or her own MQL5 programs, and augment his or her trading skills through automation. It also allows the trader to execute trading rules and tasks that can be cumbersome or time-consuming when executed manually.

What's inside

Learning objectives

Mql5
Trading

Metatrader 5
Fx

Mql5
Trading
Metatrader 5
Fx

Syllabus

Introduction

Bullish/Bearish EA (Signal)

Including Files

Please download the following files under the Resources tab. These files will be used throughout the course.

First, create a folder named "MQL5Part2" under the Experts folder of your data folder.

Second, create a folder named "MQL5Part2" under the Include folder of your data folder.

The files are the following:

expert_advisor_template.mq5 - the main source code file template
functions.mqh - a collection of functions covered on Part 1
signal_template.mqh - base template for generation of signals
signal_functions.mqh

#1 should be installed under the MQL5Part2 folder of the Experts folder. #2, #3, and #4 should be installed under the MQL5Part2 folder of the Include folder.

Initial Setup

Signal Enumeration

Adding Signals

Expert Advisor Template

Conclusion

Working with Candlesticks

Bullish/Bearish EA (Expert)

Bullish/Bearish EA (Test)

Marubozu EA (Signal)

Marubozu EA (Expert)

Marubozu EA (Test)

N Consecutive Bars EA (Signal)

N Consecutive Bars EA (Expert)

N Consecutive Bars EA (Test)

Practice Exercises

Working with Histogram Indicators Part 1

Awesome Oscillator EA (Signal)

Awesome Oscillator EA (Expert)

Awesome Oscillator EA (Test)

Working with Oscillators Part 1

RSI EA (Signal)

RSI EA (Expert)

RSI EA (Test)

Working with Line Indicators Part 1

SMA EA (Signal)

SMA EA (Expert)

SMA EA (Test)

Working with Histogram Indicators Part 2

Heiken Ashi EA (Signal)

Heiken Ashi EA (Expert)

Heiken Ashi EA (Test)

Working with Oscillators Part 2

Stochastics EA (Signal)

Stochastics EA (Expert)

Stochastics EA (Test)

Working with Line Indicators Part 2

MA Crossover EA (Signal)

MA Crossover EA (Expert)

MA Crossover EA (Test)

Working with Arrow Indicators

Fractals EA (Signal)

Fractals EA (Expert)

Fractals EA (Test)

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Focuses on signal generation, which allows traders to quickly adapt expert advisors to different trading strategies and market conditions

Uses MQL5, a language specific to MetaTrader 5, which is a widely used platform for online trading, particularly in Forex

Requires downloading specific files and placing them in designated folders, which may be confusing for beginners without prior experience

Builds upon concepts from Part 1, so learners may benefit from completing the first course to ensure a solid foundation

Provides templates and header files, which can significantly reduce the amount of code needed to build expert advisors

Covers a range of indicators, including candlestick patterns, oscillators, and moving averages, providing a comprehensive toolkit for signal generation

Reviews summary

Practical ea building with signals

According to learners, this course offers a highly practical approach to building Expert Advisors in MQL5, focusing on generating trading signals. Many found the provided templates and code examples to be very useful, saving significant development time. The course is described as clear and concise, helping students implement their strategies. However, some students felt it assumes prior knowledge of MQL5 programming or Part 1 of the series, making it less suitable for complete beginners in programming or MQL5.

Explanations are clear and to the point.

"The concepts related to signal generation were presented very clearly."

"The course is clear, concise, and highly practical."

"An excellent course for traders looking to automate their strategies."

Clear focus on generating trading signals.

"The course's focus on using indicators for signals was exactly what I needed to learn."

"The structure around building EAs based on signals is very efficient and well explained."

"It teaches you to code expert advisors by simply changing the signal being used, which is a smart approach."

Provides useful templates and code.

"The provided templates and header files were extremely helpful and saved a lot of time."

"Using the expert and signal generation templates made it much easier to build EAs."

"The templates supplied with the course are a game-changer for rapid development."

"This course demystified building Expert Advisors using the provided functions and templates."

May require prior MQL5 or Part 1 knowledge.

"I felt some parts assumed knowledge that was likely covered in Part 1, which I haven't taken."

"Some sections were confusing without prior MQL5 programming experience."

"The course didn't explain enough about MQL5 basics for someone completely new to the language."

"Not recommended unless you already have a solid understanding of MQL5 or have completed the first part."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Expert Advisor Programming in MQL5 Part 2: Signals with these activities:

Review MQL5 Syntax and Data Structures

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Reviewing MQL5 syntax and data structures will help you better understand the code examples and templates used in the course, leading to faster learning and more effective signal generation.

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Review basic data types (int, double, string, bool).
Practice writing simple functions and classes.
Familiarize yourself with MQL5 operators and control flow statements.

Review 'Expert Advisor Programming for MetaTrader 5'

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Reading this book will provide a solid foundation in MQL5 programming, which is essential for understanding and implementing the signal generation techniques taught in the course.

View Expert Advisor Programming for MetaTrader 5:... on Amazon

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Read the chapters on MQL5 syntax and data structures.
Study the examples of expert advisor code.
Experiment with modifying the code examples.

Practice Coding Basic Trading Signals

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Practicing coding basic trading signals will reinforce your understanding of the concepts taught in the course and improve your ability to generate custom signals.

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Code a simple moving average crossover signal.
Implement a relative strength index (RSI) based signal.
Create a signal based on candlestick patterns.

Four other activities

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Show all seven activities

Document Your Signal Generation Process

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Documenting your signal generation process will help you solidify your understanding of the concepts and improve your ability to explain your strategies to others.

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Choose a signal you developed during the course.
Write a detailed explanation of how the signal works.
Include code snippets and diagrams to illustrate your explanation.

Develop a Custom Expert Advisor with Multiple Signals

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Developing a custom expert advisor that combines multiple signals will allow you to apply the concepts learned in the course to a real-world project and gain practical experience.

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Choose several signals to combine into your expert advisor.
Implement the signals in MQL5 using the course templates.
Test and optimize your expert advisor on historical data.
Document your design and testing process.

Contribute to an Open-Source MQL5 Project

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Contributing to an open-source MQL5 project will allow you to collaborate with other developers, learn from their experience, and improve your coding skills.

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Find an open-source MQL5 project on a platform like GitHub.
Identify a bug or feature that you can contribute to.
Submit a pull request with your changes.

Review 'Building Automated Trading Systems'

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Reading this book will provide a broader understanding of automated trading systems and how signal generation fits into the overall picture.

View Putting Knowledge to Work on Amazon

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Read the chapters on system design and risk management.
Study the examples of automated trading systems.
Consider how you can apply these concepts to your own expert advisors.

Career center

Learners who complete Expert Advisor Programming in MQL5 Part 2: Signals will develop knowledge and skills that may be useful to these careers:

Algorithmic Trader

An algorithmic trader designs, develops, and implements automated trading strategies. This often involves programming and backtesting trading models. This course helps you gain practical experience in coding expert advisors and generating trading signals using MQL5, skills directly applicable to algorithmic trading. Coding automated trading strategies, particularly focusing on generating signals based on candlestick data and custom indicators as taught in this course, helps build a foundation for success as an algorithmic trader. Learning how to generate trading signals in an expert advisor particularly benefits an algorithmic trader.

See salaries and explore the career path for Algorithmic Trader

Trading System Developer

A trading system developer builds and maintains automated trading platforms and systems. This course provides you with the practical programming skills using MQL5 needed to develop custom expert advisors. The course's emphasis on signal generation, candlestick patterns, and indicator-based trading directly helps you in the design and implementation of robust trading systems. A trading system developer would especially appreciate how the course teaches students to code expert advisors by simply changing the signal being used.

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Proprietary Trader

A proprietary trader trades with a firm's capital to generate profits. This course provides the knowledge to automate trading strategies using MQL5. You will learn how to generate trading signals based on candlestick data and indicators, build a foundation for creating expert advisors that can execute trades automatically. A prop trader should take this course as it was designed with traders in mind.

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Forex Trader

A forex trader buys and sells currencies to profit from fluctuations in exchange rates. This course provides you with the tools and knowledge to automate your trading strategies using MQL5. Learning how to generate trading signals based on candlestick data and indicators, helps build a foundation for creating expert advisors that can execute trades automatically. The course was designed with the trader in mind. As a result, a forex trader may find it especially useful.

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Financial Software Developer

A financial software developer creates and maintains software applications for the financial industry. This course helps you develop programming skills in MQL5, which is specifically used for developing trading platforms and expert advisors. The focus on signal generation, candlestick patterns, and indicator-based trading directly contributes to the development of financial software. This course will be particularly valuable for a financial software developer.

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Quantitative Developer

A quantitative developer works alongside quantitative analysts, translating their models and strategies into efficient, production-ready code. This course provides the fundamentals of MQL5 programming, which may allow you to implement trading algorithms and automate trading strategies. The course's emphasis on signal generation and working with financial indicators helps you implement the strategies designed by quantitative analysts. This would make the life of a quantitative developer much easier.

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Quantitative Analyst

A quantitative analyst, often requiring a master's degree or PhD, develops and implements mathematical and statistical models for financial applications, including trading and risk management. This course helps you develop programming skills in MQL5, which may enable you to prototype and test trading strategies. The focus on signal generation based on candlestick data standard and custom indicators directly helps you in building quantitative trading models. The ability to independently generate almost any type of trading signal in an expert advisor particularly benefits a quantitative analyst.

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Trading Strategist

A trading strategist designs and implements trading strategies across various financial markets. This course provides you with expertise in algorithmic trading, focusing on MQL5 programming for automated systems. The curriculum emphasizes the generation of trading signals from candlestick data and indicators, an asset for creating and refining sophisticated trading strategies. Trading strategists should take this course, as they will learn focus on signal generation based on candlestick data, standard indicators, and custom indicators. All of these come with easy-to-use header files, and expert and signal generation templates.

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Technical Analyst

A technical analyst studies price charts and technical indicators to identify trading opportunities. While a technical analyst might not always code, understanding how to automate trading rules and generate custom signals improves the efficiency of the work. The course's focus on candlestick data, standard indicators, and custom indicators helps build skills needed to translate technical analysis strategies into automated trading systems. This may give a technical analyst a valuable competitive advantage.

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Hedge Fund Manager

A hedge fund manager manages investment portfolios using advanced investment strategies. This course provides insights into algorithmic trading and the development of automated trading systems using MQL5, which are becoming increasingly prevalent in hedge funds. Gaining the ability to develop custom indicators and automate trading rules may become a source of a competitive edge. A hedge fund manager may benefit from learning how to code expert advisors by simply changing the signal being used.

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Data Scientist

Data scientists analyze large datasets to extract insights and build predictive models. In the context of finance, this can involve analyzing market data and developing trading strategies. While this course focuses on MQL5 programming, the concepts of signal generation and indicator-based trading are relevant to data-driven trading strategies. Data scientists may find that this course helps them apply their skills to the financial markets.

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Financial Analyst

A financial analyst analyzes financial data, provides investment recommendations, and helps organizations make informed financial decisions. While MQL5 programming might not be a core requirement, understanding algorithmic trading and automated systems gives you a competitive edge. The ability to develop custom indicators and automate trading rules using MQL5, as taught in this course, may augment your understanding of market dynamics and quantitative analysis. This course may give a financial analyst greater insight.

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Investment Manager

An investment manager oversees investment portfolios for individuals or institutions. While direct MQL5 programming might not be a primary responsibility, understanding algorithmic trading and automated systems will enhance your investment strategies. The ability to develop custom indicators and automate trading rules may improve portfolio management. This course may broaden the perspective of an investment manager.

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Investment Strategist

An investment strategist develops investment strategies. While they might not use MQL5 programming, understanding algorithmic trading and automated systems helps when creating informed strategies. Learn how to develop custom indicators and automate trading rules to gain a competitive edge. An investment strategist's understanding of market dynamics might be augmented through this course.

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Risk Manager

A risk manager identifies, analyzes, and mitigates financial risks. While MQL5 programming may not be a direct requirement, understanding algorithmic trading systems is helpful for assessing risks associated with automated trading strategies. The ability to analyze trading signals and understand the logic behind expert advisors, helps better assess and manage risks. Taking this course may give a risk manager greater insight into algorithmic trading.

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Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Expert Advisor Programming in MQL5 Part 2: Signals.

Expert Advisor Programming for MetaTrader 5, Second...

Save

Provides a comprehensive guide to MQL5 programming, covering topics such as syntax, data structures, and object-oriented programming. It offers practical examples and step-by-step instructions for building expert advisors. While this course focuses on signal generation, this book provides a broader foundation in MQL5 programming. It useful reference for understanding the underlying principles and techniques used in the course.

Expert Advisor Programming for MetaTrader 5:...

Paperback

Putting Knowledge to Work

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Provides a more advanced perspective on building automated trading systems, including aspects of system design, risk management, and performance evaluation. While the course focuses on signal generation, this book provides a broader context for understanding how signals fit into a complete trading system. It is more valuable as additional reading to expand your knowledge of algorithmic trading.

Putting Knowledge to Work

Paperback

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Putting Knowledge to Work

Kindle Edition

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