If you're diving into algorithmic trading, the MQL5 Wizard is your go-to tool for developing Expert Advisors (EAs) tailored to your trading strategies. With the wizard, you can whip up systems that leverage Standard library classes provided with the MetaTrader 5 terminal. For a deeper understanding, check out the guide on Creating Ready-Made Expert Advisors.
The process is straightforward: You'll create a class for your trading signals based on the CExpertSignal class. You’ll need to customize the LongCondition() and ShortCondition() methods to suit your trading logic.
A handy resource is the book "Strategies of the Best Traders", which, while in Russian, covers a multitude of trading strategies—our focus will be on reversal candlestick patterns confirmed by indicators like Stochastic, CCI, MFI, and RSI.
To effectively identify candlestick formations, it's best to create a dedicated class derived from CExpertSignal. This class will handle the recognition of the Bullish and Bearish Engulfing patterns, confirmed through additional indicators.
1. Understanding Bullish and Bearish Engulfing Patterns
1.1. Bullish Engulfing
The
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