Having ported our example moving average crossover MT4 robot to MetaTrader 5 following the recent launch of the MT5 strategy tester we've now taken the next step. We've rewritten the expert advisor using the object oriented framework supplied by MetaQuotes as part of MetaTrader 5. You can take a look at our source code and see if this new way of producing robots appeals to you or not.
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Now that MetaTrader 5 is finally able to perform backtests we've rewritten another of our example MT4 expert advisors to run on MetaTrader 5. Since the members of our forum seem to be particularly keen on moving average crossover systems at the moment, we've ported our robot example 3 over to MQL5 and tested it out using the MT5 strategy tester. If you want to try this for yourself please feel free to download our MQL5 source code.
More on Moving Average Crossover Robot Available on MetaTrader 5
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MetaQuotes, the Russian company that produces the MetaTrader forex trading platform, has announced that it is reviving its automated trading championship in 2010. According to the post on the MQL5 website:
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The recent introduction by Alpari UK of "interbank spreads" on their MetaTrader 4 demo accounts has given us the perfect opportunity to demonstrate one of the potential problems you might encounter using the MetaTrader 4 strategy tester to evaluate a forex trading strategy you have developed for yourself, or even bought off a virtual shelf. Our regular readers will know that we have performed numerous live tests and backtests on the Forex MegaDroid "robot". Today is a Saturday, so I had a few minutes spare to run yet another backtest on the Droid. I started the simulation on March 30th 2009, the date the Forex MegaDroid team launched their creation amid great fanfare, and finished it yesterday evening. Here's what the Alpari UK MetaTrader 4 demo strategy tester showed me:
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The latest edition of the Economist magazine has just landed on my doormat. The cover story is a 14 page special report on "Stopping Climate Change". I'll read that with interest later, but the first thing I turned to was one of several articles which mentioned Dubai's debt crisis. This one was entitled "The Repercussions of Dubai", and covers international reaction to the Dubai World announcement that it wanted to stop repaying its debts until "May 30th 2010 at the earliest".
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MetaTrader 5 has been open for public beta testing for a few days now. After a few trials and tribulations we have now got our first example robot working on MetaTrader 5. If you'd like to know what changes we had to make you can take a look at our MQL5 source code. This is just a quick port retaining the old MQL4 procedural style. We're not using any of the fancy new object oriented features of MQL5 yet.
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We've finally received the email from the Forex MegaDroid team that we've been waiting for since July 5th. Albert and John finally announced in an email to their customers on September 20th that:
More on Forex MegaDroid Gets NFA FIFO Update – 7 Weeks Late!
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Our regular readers will have gathered by now that we are based in the United Kingdom. As UK residents that means if we use a spread betting account to do our forex trading we pay no tax on our profits! This is obviously highly desirable, but there is a drawback. The vast majority of spread betting brokers don't allow you to use automated trading systems.
More on Trading Gurus Robots Translated from MetaTrader to GFT CTL
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In our previous live test results for June and July the Forex MegaDroid MetaTrader 4 expert advisor did at least manage to make a profit. Sadly the "robot" seems to have lost it's way over the summer holiday season. In our live account at Alpari UK it lost money. In percentage terms it lost a lot of money!
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The Forex MegaDroid team seemed to think that the NFA's new FIFO regulations were going to cause their creation some problems. On July 5th they sent an email to their customers promising that:
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