MQL5 TUTORIAL - HOW MT5 EXPERT ADVISOR PROGRAMMING WORKS

Introduction to MT5 Expert Advisor Programming (00:00 - 00:08)

Introduction to the concept of programming an MT5 Expert Advisor and the importance of defining expectations.
Defining Expectations and Making Them Measurable (00:08 - 00:23)

The necessity of precisely defining trading expectations and making them measurable for the MetaTrader system.
Expressing Trading Strategies in Numbers and Rules (00:23 - 00:43)

The importance of expressing trading strategies in numerical terms and defining calculable rules.
Selecting Components for the Expert Advisor (00:43 - 00:51)

Discussion on choosing the right components for building an Expert Advisor, similar to selecting rules for a ball game.
Analogies to Sports and Team Composition (00:51 - 01:10)

Using sports analogies to explain the process of setting up an Expert Advisor, including team composition and game rules.
Challenges in Programming and Decision Making (01:10 - 01:29)

Addressing the challenges and complexities in programming an MT5 Expert Advisor and making the right decisions.
Testing Basic Assumptions and Strategy Approaches (01:29 - 01:46)

The process of starting with basic assumptions and testing different trading strategies like trend following or breakout strategies.
Risk Preferences and Strategy Selection (01:46 - 01:58)

How individual risk preferences influence the selection of trading strategies.
Planning and Identifying Components for the Expert Advisor (01:58 - 02:16)

The importance of planning and identifying all necessary components for the Expert Advisor.
The Importance of a Structured Approach (02:16 - 02:27)

Comparing the structured approach in Expert Advisor programming to planning a house construction.
Suitability of MQL5 for Expert Advisor Programming (02:27 - 02:46)
Discussing the suitability of MQL5 as a programming language for MT5 Expert Advisor development.
Starting with Simple Models and Testing Assumptions (02:46 - 03:02)
The recommendation to start with simple models and test assumptions for their market advantage.
Building a Trading System Based on Proven Theories (03:02 - 03:09)
The process of building a trading system based on theories that have a demonstrable market advantage.
Analogies to Building a House and Choosing Components (03:09 - 03:33)
Using the analogy of building a house to explain the selection of components for an Expert Advisor.
Conclusion: You Are the Builder of Your Trading System (03:33 - 03:48)

Concluding remarks emphasizing that as a programmer, you are the builder of your automated trading system.
Closing and Invitation to the Next Video (03:48 - 03:53)

Closing the video and inviting viewers to the next tutorial.

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This week, I received a question from a member of our premium course. It was about how the Mt5 Expert Advisor programming works. Basically, you have to think of it like this first, we need a way to tell our system what we expect. This means that in order to program an Mt5 Expert Advisor, we need to find a way to precisely define our expectations and make them measurable. After all, our MetaTrader can't see with its own eyes on the chart whether a certain candlestick pattern is present or an indicator is going up or down.

Instead, we have to express it in numbers and define rules for it that make it calculable. This way we can make it clear to our system that it should do something when one value is higher or lower than another value. The second thing we need is a list of components to be used in our Expert Advisor. You can think of it like the rules of a ball game. Do we play with a bat or do we use our hands or feet?

Does the ball have to be hit over a net or do we want to throw it into a basket or shoot it into a goal? How many people should participate in this game? Is it a team sport or a game for individuals? All of these things need to be defined, and there need to be clear rules about when a game can be won in trading, this is a bit more difficult because anyone who has ever programmed an Mt5 Expert Advisor knows that there are countless ways to make such definitions. So how do you make the right or wrong decision?