Is New Bar
Info
The Is New Bar is a Library for MetaTrader 5 that Сisnewbar class is necessary for the efficient work of the expert advisors that make calculations at the moment the new bar appears. Usually IsNewBar() function is used for such things instead of a class.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Is New Bar
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
СIsNewBar class is necessary for the efficient work of the Expert Advisors that make calculations at the moment the new bar appears.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: Simplified Order Management Class for MT4/MT5 - another powerful library for MetaTrader 5 traders.
СIsNewBar class is necessary for the efficient work of the Expert Advisors that make calculations at the moment the new bar appears.
Also recommended: Channel Proximity Engine: Advanced Signal Generation - similar library with strong performance on MetaTrader 5.
Usually IsNewBar() function is used for such things instead of a class. But such a function contains a static variable, and therefore we cannot use several calls of this function. To be able to reuse such function repeatedly in Expert Advisor's code, it would be much easier to make it a class member. In this case that has been accomplished using IsNewBar.mqh.The library code should be included in the file content on the global level using directive:
Then, the required number of СIsNewBar class variables must be declared in OnTick() block of the Expert Advisor:
After that we can make calls to IsNewBar() functions
in the Expert Advisor code:
Here is the possible example of the code that includes СIsNewBar class inside OnTick() function:
You may also like: AS Q Order Executor: Advanced Order Execution for MT5 - excellent alternative for library users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.