Learn MQL5 Programming – Beginner’s Guide to Automated Trading in MetaTrader 5

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Technology and Entertainment › Learn MQL5 Programming – Beginner’s Guide to Automated Trading in MetaTrader 5

MQL5 (MetaQuotes Language 5) is a programming language developed by MetaQuotes Software Corp. It is designed for creating automated trading systems (EAs) and technical indicators on the MetaTrader 5 (MT5) platform — one of the most popular platforms for trading Forex, commodities, and other financial assets.

MQL5 is similar to C++ but is specifically tailored for trading applications. It supports complex algorithmic strategies with high performance and execution speed.

Key Features of MQL5

1. Automated Trading: Write trading programs that execute automatically based on predefined strategies.
2. Custom Technical Indicators: Create your own indicators beyond the built-in ones available in MT5.
3. Backtesting: Test trading strategies against historical market data.
4. Custom Tools: Develop and customize analytical tools according to your needs.

Expert Advisors (EAs)

• Expert Advisors (EAs): Automated trading programs that execute trades based on defined conditions.
• Custom Indicators: User-created indicators tailored to specific needs.
• Scripts: Programs that perform single-action operations, such as opening or closing trades.
• Libraries: Reusable functions or modules that can be shared across multiple programs.

Learning MQL5 is highly beneficial for traders who wish to build and test their own strategies. Official documentation and community resources are available on the MetaQuotes and MT5 websites.

Now that you understand what MQL5 can do, let’s start learning the basics step-by-step — beginning with variable declarations.

Variables

Variables must be declared at the beginning of the code before being used. Each variable name must be unique. Variables store data that the program uses during execution.

Types of Variables

• char, short, int, long, uchar, ushort, uint, ulong – integer types
• color – represents a specific color value
• datetime – stores date and time
• bool – stores true or false values
• double – double-precision floating-point number
• float – single-precision floating-point number
• string – stores text or character sequences

Example of variable declaration:

color default_font_color = clrWhite;
string msgLine = "";
double rsiValue;
string symbol = Symbol();
bool alert_RSI_90 = false;

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