When you say I need two programming languages, what language other than MQL4 do I need? Must I create both MQL4 and MQL5? Or is it a language based on FSB? I have so far gone quickly through the text part of the guide and I’m just wondering if there are any videos that demonstrate how I could best approach the below. I won't be simply using the below, but along with these, I will still have indicators to determine bullish or bearish setups. And also, I already have much of the code written for the indicators I would like to use, so it may not be too time-consuming if I know it can be done.
So essentially, can I create an indicator with my own code, then use a value from that indicator to determine where an entry price should be, and then using the same or similar indicator, determine where the take profit and stop loss should be? For example, if I were to use the most recent major high and low, and have the indicator tell me to buy at a certain distance up from the low, and have a take profit a certain distance down from the potentially revisited high. Most importantly this means the closing rules will always be different as a result of being based on prices determined by percentages from levels “and” sometimes trades wont be entered even if the trade entry conditions are met, simply because the price is too high above a recent low.
So can I add a new parameter to the stop loss section. It says that you must have either of Bar Closing, Day Closing or Week Closing in order to use Closing logic Conditions. But can I replace those with a number derived from an indicator as mentioned above?
That’s really the absolute main thing I’m trying to get done. I just want to make the adaptability to environments to be as far from static as possible and to have dynamic calculations for each bullish or bearish zones potential size.
Based on these notes I have found in the guide it looks like they follow similar logic and my ideas may be possible and if so is there an article or video that may describe it?
Notes =
“The adding value is measured either in lots or in percent depending on the selected trade unit. The program will execute an adding only if the next direction signal logic permits.
Next opposite direction signal sets behaviour.
The formula for calculating entry size is: NextAmount = EntryAmount * (MartingaleMultiplier ^ ConsecutiveLoses).
Indicators which can set a definite entry price are placed there.
The indicator's logic sets the long position price.
You can also choose a certain time for closing the position using indicators like: Bar Closing, Day Closing, Week Closing and Exit Hour.
Other indicators that set the exact price of the order are: Moving Average, Pivot Points, Bollinger Bands etc.
Indicators specifying more than one entry price are: Price Move, Stark Bands, Top Bottom Price etc. These indicators set different points for closing a short and a long position. It is the indicator's logic that determines the different closing prices for long and short positions.
Longer time frame (LTF) option sets a specific period for the current indicator. For example, if you have a strategy working on EURUSD H4 chart, you can set an indicator with Longer time frame = D1.
You can enter long on a M5 chart only if you have an uptrend on a daily chart. To do so, set the strategy period to M5 and chose a trend indicator and set its Longer time frame to D1.
End of Notes…
The above preloaded features look great, however being able to create my own variables is very important since it will help me observe the exact type of strategies that I've been studying etc...
