Summary of 📈 Connecting BingX Futures to MetaTrader 5 – [TradingFinder] - Free

The video tutorial by the TradingFinder team explains how to connect BingX Futures market data to MetaTrader 5 (MT5) using an Expert Advisor (EA) file. This connection allows traders to perform technical analysis on BingX futures pairs within the MT5 platform, although live trading through MT5 is not currently supported.

Main Financial Strategy / Business Trend:

• Integrating futures market data from the BingX exchange into the popular MT5 platform to enhance traders' ability to analyze a wide range of futures pairs using familiar charting tools.
• Leveraging API data feeds for real-time market updates and candlestick charting on MT5, supporting informed trading decisions through technical analysis.

Methodology / Step-by-Step Guide:

1. Download and Load Expert Advisor:
   • Download the Expert Advisor file for MT5 from the TradingFinder resource.
   • Open MT5 and run the Expert Advisor from the Navigator section.
2. Enable Web Requests:
   • Go to Tools > Options > Expert Advisors tab.
   • Enable "Allow WebRequest for listed URL".
   • Add the BingX exchange API URL to the allowed list and confirm.
3. Run the Expert Advisor:
   • Run the EA and verify that it receives data, indicated by a message showing the number of trading pairs (e.g., 482 pairs).
4. Select Trading Pairs:
   • From Market Watch, right-click and choose Symbols.
   • Navigate to the BingX Futures folder to view all available pairs.
   • Select a desired pair (e.g., DOG/USDT) and open its chart.
5. Data Reception and Charting:
   • Confirm data reception messages showing the number of candles received (e.g., 999 candles).
   • The EA fetches historical candlestick data and updates charts in real-time with every market tick.
6. Customize Settings:
   • Set the number of candles to fetch (range: 300 to 10,000).
   • Choose whether multiple charts of the same symbol share candle data equally or if higher timeframe charts generate candles based on lower timeframe data.
7. Managing Multiple Charts:
   • Open additional charts for the same symbol by right-clicking on an existing chart and selecting "Chart Window".
   • Understand that when candle sharing is disabled, the second chart constructs candles from the first chart’s data.
   • Be aware of limitations in switching to lower timeframes on secondary charts if candle sharing is enabled.
8. Data Limitations:
   • Note potential delays due to exchange rate limits.
   • The EA captures every tick’s OHLC data to form candlesticks, ensuring up-to-date price charts.

Key Features and Benefits:

• Access to 482 BingX futures pairs within MT5.
• Real-time futures data streaming via BingX API.
• Flexibility to analyze multiple charts and timeframes.
• Adjustable candle data volume for historical analysis.
• Enhanced technical analysis capabilities on MT5 using BingX data.

Presenters / Sources:

• TradingFinder team (experience trading finder team)

Category

Business and Finance

Video