The easy guide on how to build an Expert Advisor?

The well known trading software Metatrader provides support for automated trading, through the use of pre-programmed trading programs (Expert Advisor’s). Many people wish to create automated trading software’s but don’t necessarily having the programming skills to do so. While it is possible to learn the Metatrader language, the language isn’t overly complicated but it will take the average person some considerable time to learn. But luckily enough there a couple of tools online that will allow you to program Expert Advisor’s for Metatrader 4.  

One such option is Strategy Tune, which uses a visual interface with drag and drop functionality. This is not my personally preferred tool as it seems distinctly more difficult to create an Expert Advisor (EA) to work in the way you want it too. Though it may be worth a look if your more of a visual person.  


My preferred tool for building an Expert Advisor is simply named Expert Advisor Builder for Metatrader 4. The tool appears to look quite difficult to use mainly due to its sparse interface, but today I’m going to run through how to program a simple long expert advisor using the tool. The tool that I’m going to create today has  no guaranteed performance and in fact when I have backed test tools based on such indicators they have had historically poor performance. Thanks to the Metatrader strategy tester you can back test your strategies you create over numerous currency pairs to see if your theory has any basis. 


The expert adviser I’m going to create is a Simple Triple cross moving average system which incorporates an ADX filter in order to filter out some of the noise. To begin you will need to click Buy Strategy and then click Add. To enlarge images simply click on them.

Now I’m going to add the first indicator, in order to mimic a triple cross trading strategy. Adding the logic of first a short term moving average being greater than a longer term moving average. For some reason moving averages require a shift value of 1 (at least the first  moving average does). Then I’m going to add another moving average, with the logic requiring that the shortest average again has to be larger than this latest moving average. Finally I’m going to add an ADX filter with the ADX being required to be at least 25 or greater, with the aim of filtering out bad results.   
 
Once this is is done all you have to do is set a the stop loss and profit taking parameters in order options and you will have a working EA which required no knowledge of programming language. In creating a EA for actual trading you most probably will want to add in Close (Buy) Strategy in order to limit your number of losing trades. To download EA press complete and to save your work to carry on working on it click save and save the file to your computer. This file can be loaded up on the website later loading up all your previous work.

Admin

Leave a Reply

Your email address will not be published.