Mql4, or MetaQuotes Language 4, is a programming language used to create custom indicators and trading robots for the MetaTrader 4 platform. With Mql4, traders can automate their trading strategies and perform technical analysis using customized indicators. One of the most common tasks for Mql4 programmers is to retrieve cross pair prices in forex trading.
In forex trading, a cross pair is a currency pair that does not include the US dollar. For example, the EUR/GBP, AUD/CAD, and NZD/JPY are all cross pairs. These pairs are often used by traders looking to diversify their portfolios and take advantage of currency fluctuations.
To get cross pair prices in Mql4, traders need to use the SymbolName() function. This function returns the name of the symbol at a given index. For example, SymbolName(0) returns the name of the first symbol in the Market Watch window.
To get the bid and ask prices for a cross pair, traders can use the MarketInfo() function. This function returns various information about a symbol, including the bid and ask prices. The syntax for the MarketInfo() function is as follows:
MarketInfo(symbol, type)
The “symbol” parameter specifies the name of the symbol, while the “type” parameter specifies the type of information to retrieve. To get the bid price, traders can use the following code:
double bid = MarketInfo(“EURGBP”, MODE_BID);
This code retrieves the bid price for the EUR/GBP cross pair. The MODE_BID parameter specifies that we want to retrieve the bid price. To get the ask price, traders can use the MODE_ASK parameter:
double ask = MarketInfo(“EURGBP”, MODE_ASK);
This code retrieves the ask price for the EUR/GBP cross pair.
Traders can also use the Symbol() function to retrieve the index of a symbol. The syntax for the Symbol() function is as follows:
Symbol()
This function returns the name of the current chart symbol. Traders can use this function to get the index of the current symbol and then use the SymbolName() function to get the names of other symbols. For example, the following code retrieves the index of the current symbol and then gets the bid price for the EUR/USD cross pair:
int index = Symbol();
double bid = MarketInfo(SymbolName(index) + “EURUSD”, MODE_BID);
This code first retrieves the index of the current symbol and then concatenates the symbol name with “EURUSD” to get the name of the EUR/USD cross pair. The MODE_BID parameter is used to retrieve the bid price.
In addition to retrieving cross pair prices, Mql4 programmers can also use custom indicators and trading robots to automate their trading strategies. Custom indicators are technical analysis tools that traders can use to analyze price movements and identify trading opportunities. Trading robots, also known as expert advisors, are automated trading systems that can execute trades based on predefined rules.
To create custom indicators and trading robots in Mql4, traders need to have a basic understanding of programming concepts such as variables, loops, and conditional statements. They also need to be familiar with the Mql4 syntax and the functions available in the platform.
In conclusion, getting cross pair prices in forex trading using Mql4 is a simple process that involves using the SymbolName() and MarketInfo() functions. Traders can also use custom indicators and trading robots to automate their trading strategies and take advantage of currency fluctuations. To create these tools, traders need to have a basic understanding of programming concepts and the Mql4 syntax.
