Topic: Request for assistance for my final year project
I am an undergraduate student from Informatics Institute of Technology (IIT – Sri Lanka) doing my major in Software Engineering. I’m planning to develop an intelligent forex decision support system for my final year project. I’ve been into forex trading for almost a year now during which I got to use various forex forecasting and automation tools such as technical indicators and expert advisors (forex robots). One common fact I noted in these existing tools is that, no matter how profitable they seem to be, most of them are not successful in the long run.
Artificial intelligence can be used to model the fluctuations in the forex market and to predict its future behavior to an arbitrary degree of accuracy. I’ve come across several expert advisors that claim to use artificial intelligence. Just out of curiosity, I decompiled some of their MQL4 code and was surprised to see that they don’t use any of the AI techniques, but merely a set of hardcoded trading rules which will be followed by the expert advisor.
I believe that the forex market presents many trading opportunities that can be uncovered by proper use of artificial intelligence. My goal in this project is to come up with a hybrid AI system which would analyze the forex market behavior and provide real time trading suggestions as they become available. I’m currently at the requirement gathering phase of the project and I would be very grateful if you could kindly share your opinion about the project, and the features you would expect to see in such a system. If you are currently using forex signaling services, technical indicators or expert advisors in your day to day trading, please mention the advantages and disadvantages you find in them. Your feedback will help me to come up with a better system, and to ultimately achieve the end goal of the project. Thanks in advance for your kind cooperation.