Hello BabyPips! Shoutout to Forex Gump!
I’ve begun developing a free/open source software project, which I’m referring to as the Open Trading Toolkit. Candidly, I’ve seen a few of the projects developed so-far for free open source software in binary options trading, and though I am a little nonplussed by some of the matters of style and presentation I perceive of some of those resources, I believe that an Open Trading Toolkit project, developing software licensed in a manner of the BSD licenses may be a viable project.
The first public resource developed and published of the Open Trading Tooolkit is the libot project, the source code of which is hosted at GitHub: otlib/otlib-libot. I’m afraid it’s a little sparse on documentation, right now. The EA0 Expert Adviser prototype for libot is now developed to what I would wish to denote as its “1.1” release.
Anyone familiar with MQL4 may install the otlib program source code. I would like to develop an installer and some further documentation for the project.
Presently, my main priority with the otlib project is to continue to develop the EA0 prototype.
In the source code of the prototype, the calcTrends function provides a primary entry point to the Expert Adviser’s primary indicator logic. My goal with the calcTrends implementation has been to develop an indicator that may serve to illustrate a manner of a [I]maximized spread[/I] such that may be of use in technical analysis when trading in view of realtime ECN data at the 1M scale.
I believe that the indicator’s utility, itself - hopefully, even in its 1.1 release - may be more obvious when the indicator is applied in parallel to other indicators, for instance the Heikin Ashi indicator, Stochastic Oscillator, Linear Weighted Moving Average, and Commodity Channel Indicator - such that, all four, are standard stock with MetaTrader4. Personally, I’m also applying a third party Fisher indicator. I believe that these indicators, specifically, serve to present a useful summary of trends in market rate and market rate momentum. Of course, if as to apply any two or more of these indicators simultaneously - as in a manner of trading logic in an Expert Advisor - then it may serve to introduce some practical licensing concerns, if the application would be developed as to apply any modified version of the indicators’ source code, modified such as to publish any internal data of the respective indicator.
Personally, I’ve tried to make it clear as to the licensing terms of the libot source code, to prevent any manner of ambiguity with regards to the terms under which the source code is now made publicly available.
Alternately, after a manner of a mechanical analysis of the respective indicators, perhaps a similar algorithm may developed as to be applied in the trading logic of an EA in MT4. Personally, I believe that the Stochastic Oscillator may be of some of the most of interest, in such regards - it seems to me that the Stochastic Oscillator provides a good indicator for when the market rate has entered a “Breakaway” or “Reversal” trend. I’ve been applying the Stochastic Oscillator as configured with K Period 15, D period 5, and Slowing 5 - I think it’s a useful indicator for market trend reversals, at least for strong reversals.
In order to be able to apply these indicators well and simultaneously in any repeated realtime trades, of course there may be a number of features to develop of the resulting program - such as including, Debug Information, Chart Management, Order/Portfolio Management, Historic Data Analysis, and Realtime Data Analysis.
In its release 1.1, otlib-libot may be addressing at least the quality of [I]Historic Data Analysis[/I]. However - candidly - the program’s logic may seem to be approached in something of a manner of a rudimentary regards. I believe that the classic “K.I.S” principle may apply.
Though I’m afraid it’s not as shiny as I hope it may one day be, after a lot of buffing and polish, but I hope it may be useful to anyone. I would like to begin focusing more about the documentation for otlib, soon. However - candidly - I believe that the documentation may seem to be of a lesser priority to my own trading strategy, lesser than than the [I]Realtime Data Analysis[/I] features proceeding from 1.1
I hope it may be useful to anyone, whether as an item of reusable source code or however. The copyright terms for the source code, of course, are published along with the source code itself: otlib/otlib-libot