Building an MQL5 Market Order Class for Live Trading

Summary

This installment explains the first part of an MQL5 order-management class that receives chart-trading events and sends market buy or sell requests to a trading server. It describes decoding event data, selecting the contract, reading its bid or ask and volume step, and populating a trade request with volume, stop loss, take profit, order type, time-in-force, and other fields. Before sending, the class checks the request, then examines the server result and returns the order identifier when execution succeeds.

The focus is the structure and flow of execution code rather than a trading strategy or performance study. The article stresses that request fields have distinct meanings and that misunderstanding them can cause financial loss. The presented class handles market orders and leaves close-all behavior and pending orders for later work. It also explains that a modular design depends on several components communicating correctly. No live or simulated results are reported, so the material teaches implementation concepts but does not establish execution quality or suitability for a particular broker or instrument.

Key ideas

• The order class decodes chart events and uses them to dispatch market buys and sells.
• A market request is populated using the selected contract’s prices, volume step, digits, and user-set trade parameters.
• The code checks a request before sending it and examines the server return code afterward.
• The installment covers market orders only; pending orders and closing positions are outside its scope.
• Incorrect request settings can cause financial loss, and the article provides no execution-performance results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.