MQL5 is a high-level programming language used for developing custom indicators, expert advisors (EAs), and other automated trading strategies for the MetaTrader 5 trading platform. Here are some key features of the MQL5 language:
Object-Oriented Programming: MQL5 is an object-oriented language, which means that it is based on the concept of objects that contain both data and methods. This allows for easier and more efficient programming, as well as better organization and reuse of code.
Integrated Development Environment: MQL5 comes with an integrated development environment (IDE) that includes a code editor, compiler, and debugger. This makes it easy to write and test code directly within the MetaTrader 5 platform.
Extensive Library: MQL5 has an extensive library of built-in functions and indicators that can be used to develop trading strategies. Additionally, there are many third-party libraries available that can be integrated into MQL5 programs.
Event-Driven Programming: MQL5 uses an event-driven programming model, which means that programs are executed in response to specific events, such as price changes, order executions, or timer events.
Multi-Threading: MQL5 allows for multi-threaded programming, which means that multiple threads can be created to execute different parts of a program simultaneously. This can be useful for optimizing performance and managing complex trading strategies.
Support for Multiple Data Types: MQL5 supports a wide range of data types, including integers, floating-point numbers, strings, and arrays. Additionally, it has built-in support for working with financial data, such as price and volume data.
Here's a simple example of an MQL5 program that calculates the moving average of a currency pair and prints the result to the terminal window:
// --- input parameters
input int Period = 20; // Period of the moving average
input ENUM_APPLIED_PRICE PriceType = PRICE_CLOSE; // Applied price type
// --- global variables
double MovingAverage; // Moving average value
// --- initialization function
// Initialize the MovingAverage variable
MovingAverage = 0.0;
// --- main function
// Calculate the moving average
MovingAverage = iMA(_Symbol, 0, Period, 0, PriceType, MODE_SMA, 0);
// Print the result to the terminal window
Print("Moving Average: ", MovingAverage);
In this program, we start by defining two input parameters:
Period, which is the period of the moving average, and
PriceType, which is the applied price type. These parameters can be set by the user when the program is attached to a chart in MetaTrader 5.
Next, we define a global variable
MovingAverage, which will store the value of the moving average.
OnInit function, we initialize the
MovingAverage variable to 0.0.
OnTick function, which is executed on every tick of the currency pair, we use the
iMA function to calculate the moving average of the current currency pair, using the
PriceType input parameters. We then assign the result to the
Finally, we print the value of the moving average to the terminal window using the
This is just a simple example, but it shows how MQL5 can be used to write a program that performs a useful task in the context of trading.
To write a trading program for MetaTrader 5, you will need to:
Open the MetaEditor built-in code editor by clicking on "Tools" and then "MetaQuotes Language Editor" in your MetaTrader 5 platform.
Create a new file by clicking on "File" and then "New".
In the new file, write the code for your trading program using MQL5 syntax. You can use the code snippets provided by the MetaEditor or write your own code from scratch.
Save your code by clicking on "File" and then "Save".
Compile your code by clicking on "Compile" or pressing the F7 key. This will check for any syntax errors and compile your code into an executable file.
Once your code is compiled, you can test it by opening a chart in the MetaTrader 5 platform and attaching your program to the chart. To do this, right-click on the chart, select "Expert Advisors", and then select your program from the list.
If your program is functioning correctly, you can start trading with it by attaching it to the charts of the currency pairs or other financial instruments you wish to trade.
It's important to note that writing a successful trading program requires a good understanding of trading strategies, as well as knowledge of the MetaTrader 5 platform and the MQL5 programming language. Additionally, you should thoroughly test your program on a demo account before using it to trade with real money.
There are several resources available to help you learn more about coding in MQL5. Here are a few options:
MQL5 Reference: The MQL5 Reference is the official documentation for the MQL5 programming language and the MetaTrader 5 platform. It provides detailed information about the MQL5 language, including syntax, functions, and data types, as well as information about the MetaTrader 5 platform and its features.
MQL5.community: The MQL5.community is a community of traders and developers who use the MetaTrader 5 platform. The community includes a forum where you can ask questions and get help from other members, as well as a codebase where you can find and download free MQL5 code.
MetaQuotes Education: MetaQuotes, the company that develops MetaTrader 5, offers a range of educational resources for learning MQL5 programming. These resources include tutorials, video courses, and a certification program.
Online Courses: There are several online courses available that can help you learn MQL5 programming, including courses offered by Udemy, Coursera, and other online learning platforms.
Books: There are several books available on MQL5 programming, including "Expert Advisor Programming for MetaTrader 5" by Andrew R. Young and "MQL5 Tutorial" by Sergey Kovalyov.
By using one or more of these resources, you can gain a solid understanding of MQL5 programming and start building your own custom indicators, expert advisors, and other automated trading tools for the MetaTrader 5 platform.