metatrader 4 lot size calculator expert advisor

Metatrader 4 lot size calculator expert advisor how to#

The RSI or Relative Strength Index may be referenced in the MQL4 code and is declared as follows:ĭouble iRSI(string symbol, int timeframe, int period, int applied_price, int shift) The return value may be entered wherever a shift parameter is required, such as in the iRSI function. IBarShift allows for determination of the correct bar, or the closest bar if the last term is set to false. If this code is used on a chart other than the 1 hour chart, the bar sequence could be unpredictable. In the code below, the current bar Time is referenced. The iBarShift function returns the bar shift for a given time. MQL4 has many built-in indicator functions that may be used in system building. This article will expand on that simple concept and present code that may be used as a template in many different expert advisor applications and with many different types of indicators, including the RSI.Īs was discussed in the previous MQL4 tutorial, the key to trading only once per bar is to encapsulate the trading logic within a conditional block that uses a module level variable to keep track of the bar number using the Bars variable.

Metatrader 4 lot size calculator expert advisor how to#

This MQL4 code tutorial is the sequal to How to place only one trade per bar on a forex MT4 expert advisor. So if you're interested in learning how to reference a different time frame from within an EA, this tutorial should prove informative.

Additionally, the code will reference a different time frame chart for the RSI. At the end of part 2, a fully functioning RSI EA template may be downloaded. This is a two-part MQL4 code tutorial discussing how to create a simple Metatrader expert advisor using the RSI that trades only once per bar.