isnewbar Class for Efficient Expert Advisor Calculations
Info
The isnewbar Class for Efficient Expert Advisor Calculations is a Library for MetaTrader 5 that the isnewbar class is essential for optimizing expert advisor performance when executing calculations upon the emergence of a new bar. Typically, the isnewbar() function is employed for this purpose, but its utilization of a static variable restricts multiple calls within the same code.
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 isnewbar Class for Efficient Expert Advisor Calculations
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
The isnewbar class is essential for optimizing expert advisor performance when executing calculations upon the emergence of a new bar.
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.
The isnewbar class is essential for optimizing expert advisor performance when executing calculations upon the emergence of a new bar.Also recommended: class calc frac - custom bar count for fractal detection - similar library with strong performance on MetaTrader 5.
Typically, the isnewbar() function is employed for this purpose, but its utilization of a static variable restricts multiple calls within the same code.
To facilitate repeated function calls, it is more practical to integrate the function as a class member. This has been achieved through the isnewbar.mqh library.
To utilize the library, include the following directive in the global file content:
- #include
Next, declare the required number of isnewbar class variables within the ontick() block of the expert advisor:
- Сisnewbar isnewbar1;
- Сisnewbar isnewbar2;
Subsequently, you can invoke the isnewbar() functions within the expert advisor code as needed.
Below is an example of incorporating the isnewbar class within the ontick() function:
- void ontick()
{
Сisnewbar isnewbar1;
Сisnewbar isnewbar2;
// isnewbar() function calls
}
This implementation ensures efficient and reusable code for expert advisors requiring new bar calculations.
You may also like: cgv class for global variables - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <isnewbar.mqh>
void ontick()
{
double iclose1[1],iclose2[1];
static bool recount1=true,recount2=true;
static cisnewbar nb1,nb2;
if(nb1.isnewbar(symbol(),period_d1) || recount1) // checking for a new bar.......
⚠ 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.