MQL5 ADVANCED: Code an Exhausted Price Expert Advisor

A comprehensive guide to developing an exhausted price algorithmic trading strategy using the MQL5 Language

What you'll learn
- How to develop strategies based on the Exhausted Price theory.
- How to create trailing stop loss functions for cost averaging trades.
- How to manage pending orders
- How to manage and manipulate time in MQL5

Requirements
- Basic MQL5 knowledge

Description
In this course, I am going to teach you how to take advantage of a concept in trading based on lack of infinite capital from market participants that explains why price retraces and reverses after a build up of momentum in one direction. This concept is known as price exhaustion. As the name implies, at price exhaustion levels, we expect price to reverse or retrace after a build up of momentum in one direction for the day. This gives us an edge to know where we would ideally want to buy or sell ahead of time, allowing us to be better placed market participants.

In this course, trade management will be key in helping us capitalize on our pin point entries, we are going to use a trailing stoploss and cost averaging. However the trailing stoploss is designed for both single entry trades and cost averaging trades, helping us earn the capability of milking the market out of all the juice it has in a single direction. Helping us earn huge wins in the market. Cost averaging will also be implemented in a way that the distance between trades expands after every 3 trades, ensuring that we enter fewer trades per given trade distance helping us avoid loss of margin.

To demonstrate the exhausted price theory for trade signal generation, am going to use a mean reversion strategy in the form of the exhausted price expert advisor. So in this course, am going to teach you how to code an exhausted price mean reversion system that uses a trailing stop in cost averaging. So I shall first guide you through the logic of the strategy we are going to develop. Then we shall focus on developing the entry logic of the EA. After that, we shall develop the risk management part of the EA, then finally we shall focus on how we shall close our trades using the trade management technique proposed in this course. I'll walk you through the entire logic of the code, ensuring you understand each step of the coding process.

If you're still familiarizing yourself with MQL5, don't worry. As long as you understand the basics, this course is perfect for you. I'll patiently guide you through every step, ensuring you grasp the concepts behind each line of code. By the end of this course, you'll have gained the skills necessary to code similar trading models based on the exhausted price theory.

So, hit the enroll button now and join me on this exciting journey of coding an exhausted price based trading strategy using the MQL5 algorithmic trading language!

Who this course is for:
- Anyone willing to learn how to code an exhausted price theory Expert advisor
- Anyone willing to learn how to use trailing stops for cost averaging trades
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