Becoming an Algorithmic Trader: A Step-by-Step Guide
Part 1: Understanding Moving Averages
1. Introduction to Moving Averages (MA)
2. Calculating MA using MetaTrader 4 (MT4) code: `iMA(Symbol(), PERIOD_CURRENT, 20, 0, MODE_EMA, PRICE_OPEN, 0)`
3. Understanding MA parameters:
- Symbol
- Timeframe
- Averaging period
- MA method (SMA, EMA, SMMA, LWMA)
- Applied price (Close, Open, High, Low, etc.)
*Part 2: Sending Orders with OrderSend Function*
1. Introduction to OrderSend function
2. Parameters:
- Symbol
- Operation type (Buy, Sell, BuyLimit, SellLimit, etc.)
- Number of lots
- Order price
- Slippage
- Stop loss and Take profit levels
- Comment
- Magic number
- Order expiration time (for pending orders)
- Color of the initial arrow on the chart
Example OrderSend Code:
```
int OrderSend(Symbol(), OP_BUY, 0.01, Ask, 50, 0, 0, "My order", 100, 0, clrGreen);
```
Key Takeaways:
1. Understand Moving Averages and their calculation
2. Learn to use OrderSend function to send orders
3. Understand parameters for MA and OrderSend functions
Next Steps:
1. Practice coding Expert Advisors using MA and OrderSend
2. Explore other technical indicators and strategies
3. Backtest and refine trading systems
Becoming an Algorithmic Trader: A Step-by-Step Guide
Part 1: Understanding Moving Averages
1. Introduction to Moving Averages (MA)
2. Calculating MA using MetaTrader 4 (MT4) code: `iMA(Symbol(), PERIOD_CURRENT, 20, 0, MODE_EMA, PRICE_OPEN, 0)`
3. Understanding MA parameters:
- Symbol
- Timeframe
- Averaging period
- MA method (SMA, EMA, SMMA, LWMA)
- Applied price (Close, Open, High, Low, etc.)
*Part 2: Sending Orders with OrderSend Function*
1. Introduction to OrderSend function
2. Parameters:
- Symbol
- Operation type (Buy, Sell, BuyLimit, SellLimit, etc.)
- Number of lots
- Order price
- Slippage
- Stop loss and Take profit levels
- Comment
- Magic number
- Order expiration time (for pending orders)
- Color of the initial arrow on the chart
Example OrderSend Code:
```
int OrderSend(Symbol(), OP_BUY, 0.01, Ask, 50, 0, 0, "My order", 100, 0, clrGreen);
```
Key Takeaways:
1. Understand Moving Averages and their calculation
2. Learn to use OrderSend function to send orders
3. Understand parameters for MA and OrderSend functions
Next Steps:
1. Practice coding Expert Advisors using MA and OrderSend
2. Explore other technical indicators and strategies
3. Backtest and refine trading systems