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.