Tag: MQL4 for dummies

How to Compare Multiple Conditions using AND OR in Forex Trading Strategy In previous post, you have learned how to use the relational operators to build a single criteria check. more than, lesser than, more or equal than, lesser or equal than, equal not equal How about if you want to design multiple criteria check? In this post, you will learn on Logical Operator  How could Logical Operator do How to use AND operator How to use OR operator How to check more than 2 conditions?   How could Logical Operator do Logical operator allows you to check multiple criteria in a same time. During your design of trading strategy, you might come across the scenario as below Scenario #1 I want to do a pending buy stop when When 5 moving average is > 13 moving average When RSI < 70 When RSI > 30 When MACD signal value is > 0 (Positive) In this scenario, you want all conditions to be met in order to perform your buy stop Scenario #2 I want to close the trade When the 5 moving average is < 13 moving average  OR When RSI > 70 In this scenario, you want to close the trade when either one of the condition is met , whether is the 5 moving average is < 13 moving average or RSI is > 70. Let’s reveal how to cover the scenario 1 and scenario 2 using logical operator. How to use AND operator AND operator or && (double ampersand) is a operator that allow you to compare A condition and B condition where it will only be true when A condition is matched AND B conditions is matched. In this example, I will use two conditions to check Condition A: 5 moving average is > 13 moving average Condition B: RSI < 70 Case #1 is the only one is matched when condition A and condition B is matched. Only any of the condition is fail, then the overall criteria check in AND operator will be fail (Case #2, Case #3 and Case #4) This is suitable for strategy that need an absolute match on the criteria to do on the action. If anyone of the condition checking fail, then action will not be proceeded. How to use OR operator OR operator or || (double vertical splash) is a operator that allow you to compare A condition and B condition where it will be true when either A condition is matched OR B conditions is matched. Similarly, I am using the same example from above Condition A: 5 moving average is > 13 moving average Condition B: RSI < 70 If using OR operator, any of the condition is true, then the overall result will be true.  This result is true for Case #1, Case #2, and Case #3. It will only be fail, when both condition A and condition B is failed (Case #4). How to check more than 2 conditions? Now you should have know how to  compare 2 conditions concurrently. How about 3 conditions ? 4 ? or 5 ? Same rules logical condition applied to more conditions check even if is 3 conditions or 4 conditions or 5 conditions. Lets say you have a condition as below to create a new trade and you are using AND to check on 4 conditions Condition 1: I want to have 3 continuous bullish bar Condition 2: I want to check RSI is between 70 and between 30 Condition 3: I want to check 5 moving average is above 13 moving average Condition 4: I only want to trade in between 3pm to 10pm So if you are using AND condition, anyone of the condition is not matched, then your new trade will be executed That’s end of the topic. This concludes the condition checking lessons: You should have know how to do a simple condition check You should have know how to make multiple condition check through AND or OR operator I hope you have learned something from this post. Thank you for reading and happy learning. Post Views: 1,480

How to use more than , lesser than, equal or not equal in Forex Trading Strategy  As a part of how to design your forex trading strategy,  you need to know what is the condition that you could check for ? In general, you know you could compare the price, buw how to compare the price? For example, you want to check Whether the price has moved more than the 5 moving average price ? Whether the price has moved lesser than the 5 moving average price? This post is going to reveal the type of mathematic condition that you could use to check your criteria, they are known as relational operators. This knowledge will help you when you’re designing your condition using the EA builder to design your condition for custom indicator custom EA. What you’ll learn in this post What does relational operators do? More than  >  Lesser than <  Equal == More or equal than >=  Lesser or equal than <= Not equal != These are the relational operators that are commonly used when you want to design your trading strategy. What does relational operator do? From the example below, I am using two variables to make comparison  A and B . A and B can either be a price Ask, Bid, Open Price, High Price, Low price, or Close price an indicator price (i.e. Moving average price , Bollinger band price) Time Volume or etc A reminder, the comparison will ONLY give you TWO results in True / Matched / Condition passed False / Mismatched / Condition failed For both of the results, you could decide to do the actions that you want. For example, if the condition checking is passed, then you do a buy trade, on the other hand, if the condition checking is failed, then you do a sell trade. On both results, whether is true or fail, you could decide to do something on each of the result, or  you could just do nothing. For example, I only want to execute sell trade when the result is fail. I will do nothing if the checking is true. I only want to close the trade when the condition checking is true. More than  >  This operator more than > is to check whether A  is more than B. For example,  Examples  Condition Check IF   Result  Graph Examples   A = 102.00 B = 101.00 A > B Condition Matched.  A = Blue Line B = Red Line   A = 101.00 B = 102.00  A  > B  Condition Failed.   A = Blue Line B = Red Line Lesser than <  This operator lesser than < is to check whether A lesser more than B. For example,  Examples  Condition Check IF  Result  Graph Examples   A = 102.00 B = 101.99 A < B Condition Failed.  A = Blue Line B = Red Line   A = 101.99 B = 102.00  A  < B  Condition Matched.   A = Blue Line B = Red Line Equal == This equal operator is to check the whether A is exactly the same with B. For example,  Examples  Condition Check IF  Result  Graph Examples   A = 70.00 B = 70.00 A == B Condition Matched.  A = Blue Line B = Red Line   A = 70 B = 71.01  A  == B  Condition Failed.   A = Blue Line B = Red Line   A = 70 B = 69.99  A  == B  Condition Failed.   A = Blue Line B = Red Line   More or Equal than >= More or equal than operator is to check whether the price is more than OR equal with. Unlike the more than > comparison, if the price is exactly the same, it is still not true. However, in this comparison, the result is true when the price is exactly the same.   For example,  Examples  Condition Check IF  Result  Graph Examples   A = 70.00 B = 70.00 A >= B Condition Matched.  A = Blue Line B = Red Line   A = 70 B = 71.01  A  >= B  Condition Matched.   A = Blue Line B = Red Line   A = 70 B = 69.99  A  >= B  Condition Failed.   A = Blue Line B = Red Line   Lesser or Equal than <= This is the opposite of the more or equal than operator. It is to check if the price is lesser or equal than . The condition is true when the price is exact the same or lesser. For example,  Examples  Condition Check IF  Result  Graph Examples   A = 70.00 B = 70.00 A <= B Condition Matched.  A = Blue Line B = Red Line   A = 70 B = 71.01  A  <= B  Condition Failed.   A = Blue Line B = Red Line   A = 70 B = 69.99  A  <= B  Condition Matched.   A = Blue Line B = Red Line   Not Equal != Not equal is the opposite sign of equal. Anything that is not equal then will result in true. For example,  Examples  Condition Check IF  Result  Graph Examples   A = 70.00 B = 70.00 A != B Condition Failed.  A = Blue Line B = Red Line   A = 70 B = 71.01  A  != B  Condition Matched.   A = Blue Line B = Red Line   A = 70 B = 69.99  A  != B  Condition Matched.   A = Blue Line B = Red Line   So summary, in this post, you should have learned how to use the relational operator to make your comparison. You should know the basic relational operator like > more than, < lesser than, >= more or equal than, <= lesser or equal than, == equal operator, != not equal operator. With this, you should able to create your own trading strategy. Nevertheless, in this post, it only mentions how to create a single criteria check. How about you want to combine 2 criteria check? For example, I want to check both 5 moving average is > 13 moving average RSI price is < 70   You will learn this in next post. Stay tune. I wish you happy learning and success in creating your EA robot.