Feb 19, · MQL4 (MetaQuotes Language 4) is a programming language designed for the MetaTrader 4 platform. It is a language quite similar to the popular C, but has its own specificity and is enriched with "trading" functions. Thanks to this, the user gets the opportunity to create his own indicators, scripts and automatic strategies (Expert Advisor) Feb 06, · MQL4 or MetaQuotes Language 4 is the programming language used to develop algorithmic software on the Forex trading platform MetaTrader 4 (MT4). With MQL4 you can develop various trading tools for MT4 such as automated trading robots, Expert Advisors (EAs), financial market indicators, among other Forex trading blogger.comted Reading Time: 1 min Jan 26, · Yo, There are minimum 3 reasons for suppose the MQL is much better than AFL: 1. i didnt hear about AFL (and more peoples too i suppose) 2. Everyone hear about MQL 3. if u want to learn MQL u need only learn C++ -> It's very popular language and its almost the same - if u understand C++ u will understand MQL4 and MQL5!
What is MQL4? Programming and MetaTrader 4 platform
The forex market is fast-paced and often requires making multiple decisions simultaneously. But what exactly is MQL4 and how do you use it in forex?
MetaQuotes Language 4 MQL4 is a programming language that allows you to create technical indicators, scripts, function libraries, and trading robots expert advisors for use on the MetaTrader 4 MT4 platform. The language essentially allows you to build your own algorithmic trading software, what is mql for forex. Keeping up with all the action in the forex market is no easy task.
However, an algorithmic trading system can simplify your decision-making process and give you an edge. This article will take you through what MQL4 is, how it works, and how you can use it in your forex trading.
Knowing how MQL4 works gives you a good understanding of how to automate or make more efficient certain aspects of your trading. MQL4 is a powerful tool, which if used properly, can expand your trading capabilities. An automated system has clear merit, but manual trading still exists for a reason.
A computer can only execute programmed scenarios. Conversely, a human can take into account everything that is happening. For instance, a human can get a feel for the market and they can also account for unexpected events or awkward movements in the market.
The systems still require some monitoring since they are susceptible to mechanical failures. Both manual and automated trading have their benefits and drawbacks, what is mql for forex. To get the best of both worlds, you can opt for a semi-automated forex system. This type of system analyses the market for trading opportunities but leaves you to decide whether to trade. With semi-automated trading, you can combine your intelligence and experience with the analytical capabilities of an automated system.
Nonetheless, a semi-automated system will require some coding, so you will need to know how MQL4 works. The programming language executes different applications according to the rules set for a certain type of program e. trade management or market analysis.
You can create and execute three types of applications in MQL4 — scripts, custom indicators, and expert advisors. Scripts are for analyzing relatively simple yet frequently used actions such as closing orders or deleting objects from a chart.
Custom indicators are market analysis tools. Lastly, we have expert advisors. An EA identifies opportunities in the market according to the specific parameters you set. When it finds an opportunity, it either notifies you or opens a position automatically. The platform you use to create, edit, and compile your expert advisors, indicators, and scripts in the MQL4 language comes directly with MT4.
To access MetaEditor, select the MetaEditor icon located on the top toolbar in MT You can also select MetaQuotes Language Editor under the Tools menu:.
Your MQL4 core programming will involve two fundamental elements — variables and functions. You can think of variables as containers used for labeling and holding information in computer memory. A variable holds the value assigned to it for use in a computer program. An MQL4 program can contain many variables, but you can group them according to which part of code will know a certain variable and can use it in a program. This is known as scope, what is mql for forex. There are two scopes of variables in MQL4, local and global.
A local variable is one declared within a function. On the other hand, a global what is mql for forex is one declared outside all functions. The scope of a global variable is the entire program and so the variable is visible from any part of your code. To ensure that the program knows what kind of data to store and what data belongs to which variable, you must always declare a variable before using it.
The data type is specified with a keyword and the unique name is called the variable constant, what is mql for forex. When you set the value of a variable in the same line you specified the keyword and variable constant, the process is known as initialization.
Specifying the data type is important. MQL4 uses the following data types to denote the values of variables, what is mql for forex, constants, and the values returned by functions in a program.
Integers are positive and negative whole numbers. MQL4 presents integers in either decimal or hexadecimal format and they range from -2,, to 2,, If you input any variable value beyond this range, the result will be void, what is mql for forex. The keyword for creating an integer variable or constant in a program is int. Floating-point numbers are real numbers comprising an integer and a fractional part separated by a decimal point.
The digits represent both the integer and fractional parts and the fraction part can have up to 15 significant figures.
Values of this type range from The Boolean data type can only hold two values, true and false or the numeric representation 1 and 0 respectively.
The keyword for creating boolean variables is what is mql for forex. This means false, False, FALSE are equal as are true, True, and TRUE. The keyword for creating a string variable is string. You can only write a string what is mql for forex up to characters.
Anything above this will generate the error too long string characters maximum. The keyword for color is color, what is mql for forex. The datetime data type is used to create date and what is mql for forex variables. The date and time can be denoted by a six-part line representing the numeric values of day, month, year or year, month, dayhour, minute, and second.
The keyword for creating a datetime variable is datetime. In addition to variables, operations are also a big part of MQL4 core programming. In forex trading, these operations will allow us to make decisions based on certain conditions. Logical operations are also known as boolean operations in MQL4.
As mentioned earlier, boolean variables hold only two values, true and false. Similarly, boolean operations result in one of these two results based on the following three operators: NOT, OR, and AND. This is because relational operators and logical operators are usually used together in logic expressions. There are six relational operators in MQL4.
FALSE 0. The expression value of an OR operation is TRUE 1if either the left-hand or right-hand operand value is true. Putting together all these different elements of MQL4 programming creates the need for something to control the flow of your program. In MQL4, you use statements to make the flow of the program jump from one part to another.
These statements consist of what are called loops and decisions. Loops cause a certain section of your program to repeat until some condition becomes false. This means Print i executes the body of the loop 10 times from 0 to 9 and when it reaches 10, the loop stops and passes control to the next operator.
The test expression is examined in every loop. In the example, the loop will execute until it reaches Note: The loop variable is declared and initialized before the loop. As we mentioned previously, besides loops, decisions also change the flow of a program.
Decisions cause a one-time jump to another part of a program depending on the value of an expression. MQL4 has the following types what is mql for forex decision statements. The keyword is if and the test expression is inside the parentheses. If the test expression is true, the body of the statement executes the operator.
A switch statement is useful when you have a large decision tree and all the decisions depend on the value of the same variable. The switch statement compares the expression value with constants in the different case variants and passes control to the one that corresponds with the expression value. If none of the constants are equal to the expression value, the operators marked by the default label are executed.
The constants what is mql for forex found inside the parentheses after the switch keyword. A constant can be an integer, a character constant, or a constant expression. In the example, the switch statement matches the constant x with one of the case constants.
A function is a section of a program that performs a specific action. The function starts with the type of the returned value.
This is followed by the function name and parentheses. Inside the parentheses are the function parameters then the function body starts and ends with braces. The return keyword is responsible for returning the final result and terminating the function. Functions play an important role in automated forex trading and MQL4 has a group of 25 trading functions for managing trading activities.
The following are the functions for opening, closing, and modifying your orders. OrderSend is the main function used to open a position or place a pending order.
It returns the ticket number if the order is successful and -1 if it fails. OrderSend takes 11 parameters.
Building your own trading bot using MetaTrader 4 and MQL4
, time: 15:45MQL4 Programming - MT4 Programming Language | barmenteros FX
Jan 26, · Yo, There are minimum 3 reasons for suppose the MQL is much better than AFL: 1. i didnt hear about AFL (and more peoples too i suppose) 2. Everyone hear about MQL 3. if u want to learn MQL u need only learn C++ -> It's very popular language and its almost the same - if u understand C++ u will understand MQL4 and MQL5! MetaQuotes Language 4 (MQL4) is an integrated programming language for developing trading strategies allowing you to create trading robots, technical indicators, scripts, and function libraries for use on the MetaTrader 4 trading platform. All these instruments Feb 06, · MQL4 or MetaQuotes Language 4 is the programming language used to develop algorithmic software on the Forex trading platform MetaTrader 4 (MT4). With MQL4 you can develop various trading tools for MT4 such as automated trading robots, Expert Advisors (EAs), financial market indicators, among other Forex trading blogger.comted Reading Time: 1 min
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