The strategy focuses on implementing a trading system on MetaTrader 5 using Expert Advisors (EAs) based on the golden crossover and Parabolic SAR strategies. It involves multiple approaches. One is collaborating with a certified developer to correctly interpret the trading strategies, such as clearly specifying requirements and engaging in regular updates and testing.
Another approach leverages online EA generators where input parameters for the trading strategies are set, and the stop loss and take profit values are configured. The generated EA is then tested and iterated for improvements.
The third strategy encourages developing personal programming skills by undertaking an MQL5 course, practicing coding, and participating in forums to refine the EA independently.
The strategies
⛳️ Strategy 1: Collaborate with a professional developer
- Identify and contact a certified MetaTrader 5 developer
- Clearly outline and document the strategy requirements for the developer
- Discuss and agree on the project timeline and cost with the developer
- Ensure the developer understands the golden crossover strategy parameters
- Discuss the Parabolic SAR strategy execution and integration
- Specify the stop loss and take profit requirements in the brief
- Confirm default lot size and adjustable parameters are included
- Request a plan for testing the EA in a demo environment
- Schedule regular progress updates to monitor development
- Review and evaluate the initial version of the EA with the developer
⛳️ Strategy 2: Leverage online EA generators
- Explore reputable online EA generation tools for MT5
- Input golden crossover logic parameters into the platform
- Add the Parabolic SAR strategy parameters for simultaneous execution
- Configure the stop loss and take profit values in the generator
- Set default lot size and provide an option for adjustments
- Utilise any available backtesting features to ensure strategy efficacy
- Download and install the generated EA into the MT5 platform
- Run a series of tests using a demo account to fine-tune the strategy
- Document any issues or required modifications for successive iterations
- Consider purchasing or upgrading tool access for additional features
⛳️ Strategy 3: Develop programming skills to code the EA
- Enroll in an online course focused on MQL5 programming
- Study examples of existing EAs to understand their structure
- Practice coding by creating simple scripts in MT5 platform
- Review the official MQL5 documentation for specific coding guidelines
- Set up a coding environment with appropriate debugging tools
- Separate the logic for golden crossover and Parabolic SAR strategies
- Implement stop loss and take profit conditions in the code
- Test the EA using historical data to validate performance
- Iterate on the code based on test findings for optimisation
- Engage in community forums for peer feedback and advice
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
