Integrating MT5 with SmartBots

Online trading is always evolving, and combining technologies can lead to exciting new possibilities. In our last post, “Implementing MetaTrader 5 in Docker: Unlocking New Online Trading Possibilities,” we looked at how using MT5 with Docker can make online trading even more flexible and efficient. But that’s just one part of the story.

Now, we’re taking things further by connecting MT5 with the SmartBots platform. This isn’t just about joining two systems; it’s about creating a powerful tool for traders. With this combination, you can design, test, and use your trading strategies in real-time.

So, why keep reading? Because in this article, we’ll walk you through how MT5 and SmartBots can transform the way you trade. You’ll learn how to take a trading idea from a simple thought to real-world execution. If you’re looking to improve your trading methods and results, this is essential reading.

Advanced Connection: MT5 and SmartBots are connected using ZeroMQ.

The communication between MT5 and SmartBots involves more than just exchanging data. It’s a partnership that advances thanks to innovative technological capabilities.

• ZeroMQ Connector: ZeroMQ, a high-performance messaging library, is at the center of this partnership. Connectors created especially to use this library are advantageous for both SmartBots and MT5, enabling a quick and effective data transfer between the two platforms.
• Connection and Setup: This integration requires a simple but exact setup. The usual ports (15555, 15556, 15557, and 15558) and the IP address of the MT5 server must be provided by traders in order to connect SmartBots with MT5. These ports must be reachable by SmartBots, especially if they are installed on different machines.

Integration Architecture: Docker’s Core Services

• Setting up the environment variables in docker/compose.env:

The configuration file must be customized and adjusted in order to run these services. These parameters will direct how SmartBots, MT5, and other related services communicate and exchange data.

• MT5_HOST: Denotes the IP address of the machine hosting the MT5 instance. Make sure you provide the system or server IP where MT5 is correctly running.
• FINANCIAL_SYMBOLS: This entry houses a list of financial symbols to be queried in MT5 to construct the minute bars.
• NAME_FINANCIAL_PORTFOLIO: It is crucial that this name correspond to the internal settings.

Services:

Data Source:

• Information Flow: It is possible to request MT5 bid and ask prices based on particular symbols thanks to the Data Provider. For traders who want to receive and evaluate real-time data, this tool becomes essential.
• From ticks to bars: The Market’s Transformation Traders can customize time bars by converting ticks into them using SmartBots.
• Symbol Configuration and Code: For this symbiosis to work, it’s crucial to activate the symbols in SmartBots as we previously mentioned and in MT5’s MQL5 expert code. Then, recompile and reinsert the code into MT5.

• To run this service:

cd SmartBots/docker
docker compose -f docker-compose_financial.yml --env-file ./compose.env up -d data_provider_mt5

Image from the service running:

From Signal to Execution: Broker Service

• Signal Reception and Processing: The “Broker” service’s effective mechanism is at the center of which is a mechanism that constantly listens for investment signals. These signals, which are produced through various strategies or indicators.
• Order Object Creation: Once the “Broker” service detects and receives a signal, it acts to build an “Order” object. This object encapsulates all the proposed operation details: from the quantity and the ticker to the investment direction and order type.
• ZeroMQ Communication with MT5: The order must be sent to MT5 for execution as the last step after constructing it. The “Broker” service communicates this order to MT5 almost immediately as a result of the effectiveness and speed of ZeroMQ, guaranteeing that the operation is carried out in accordance with the market circumstances in effect at that precise moment.
• To run this service:

cd SmartBots/docker
docker compose -f docker-compose_financial.yml --env-file ./compose.env up -d broker_mt5

Image MT5 terminal:

Producer Service: Real-Time Strategy Execution

• Data Bar Reception: The data bars produced by the “Data Provider” are the main information source for the “Producer” service. These bars are transmitted to the “Producer” service for examination and contain important information about the market’s behavior throughout various time periods.
• Strategy Execution: After receiving the data bars, the “Producer” service starts feeding and carrying out the defined strategy. This entails comparing the data to a range of indicators and trading rules. In our case, we use a simple moving averages crossover strategy, but you can implement your own strategy according to your needs. To specify the strategy you want to implement, navigate to:

cd src/application/config_portfolios/config_financial

• In this file, you should indicate the strategy you wish to implement. If it doesn’t exist, you should create it.

• Signal Generation and Sending: The “Producer” service generates an order event if, during execution, all indicators and filters line up as desired. This signal, which includes the planned operation’s specifics, is sent right away to the “Broker” service, which, as previously said, works with MT5 to carry out the trade
• To run this service:

cd SmartBots/docker docker compose -f docker-compose_financial.yml --env-file ./compose.env up -d bot_financial_trading

Conclusion:

Online trading now has more options thanks to the integration of MT5 and SmartBots. We’ve seen on this technological journey how combining these technologies gives traders automatic, effective instruments for trading on financial markets.

The “Data Provider,” “Broker” service, and “Producer” service form a cohesive ecosystem that transforms raw market data into tangible trading decisions and, ultimately, effective operations. This technical symbiosis not only streamlines the trading process but also offers a degree of precision and speed challenging to achieve manually.

Success in online trading will depend on your capacity to adapt to new technology in this digital age. Along with satisfying this demand, SmartBots and MT5 raise the bar and redefine automated trading. Future traders must explore and put into practice innovative ideas like these to maintain a competitive edge in a market that is constantly changing.

Always keep in mind that the road of learning and implementing never ends. If you have any questions about how to use SmartBots or if you’ve established a trading strategy that you’d want to automate, please contact us via email (andres@smartlever.tech). We’d be delighted to assist you in navigating the fascinating world of automated trading.

The train is in the station, and you can’t miss it, so join us on this journey. We are an open community and if you want to collaborate with us, please send us an email.