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I was a comp sci major in college but that was a lifetime ago. I recently came up with a strategy and backtested it in excel for EURCHF. I was wondering if anyone could help me program this into Metatrader5. I can't do it for the life of me. With job and family I don't have time to learn a whole new coding language.
It's a very simple strategy. Just uses 2 Donchian Channels (80 periods and 55 periods) on the 4 hour chart. It also uses a 30 day SMA to verify if is should go long or short when the channel signal hits.
Anyway I can give the specifics if anyone responds. I was gonna pay for this but the forum says to see if anyone can do it on their own.
Here's hoping. Cheers.
-PTT196
Can you help answer these questions from other members on NexusFi?
For automated trading of currencies it's recommended to use MetaTrader 4. MetaTrader 5 is neither accepted in the industry nor in the community of experienced traders. For different technical reasons built into MT5 you will not be able to reliably backtest or run any strategy in it. If you have to use MT5 (which is nearly impossible) it should be used for manual trading only.
In general it's easy to write a strategy of low complexity in MT4, especially for higher timeframes. However the real issues are related to the infrastructure you intend to run the strategy on. You especially have to consider things like server or network outages, connection issues to your broker etc.
Do you already have a reliable server and are you comfortabe with the administration of it? These questions need to be adressed first. If the infrastructure is not taken care of you will be disappointed to learn that you cannot run your strategy the way you thought. Writing a strategy is the simple part.
Having a server for running a strategy doesn't neccesarily mean a dedicated server. For MetaTrader a VPS is almost always the better approach. There are providers preparing/setting-up everything for you in 30 minutes for about 30-40 bucks per month. For example I can recommend forexsignals.com starting at about 35$ per month. They are white-label of fxvm.net where you get exactly the same for a little less (to be clear: I'm not affiliated).
Those are experienced and trustworthy providers who know what they do. You access and handle your VPS as if you sit on a local machine, very convenient for unexperienced Windows users. They are reliable, offer 24/7 support and only do maintenance work on your server when markets are closed. Most important: They notify you *before* they do some updates. They will even help you with installation of your trading platform and your strategies.
You still need to know how to connect to such a server from your home pc or your mobile to check if things are going correctly.
Last but not least: You cannot do something similar with NinjaTrader or MultiCharts, mainly for licensing reasons. Here everything needs to be done by yourself.
PS: Never ever, I repeat: "NEVER EVER" consider renting services from MetaQuotes. The services offered by them are a complete scam. This is a retail business and retail means scam. You have been warned.