Many traders get frustrated when they start looking for how to create trading robots in MT4. In the Academy, we use the Expert Advisor Studio. It is a strategy builder that we use to create Forex robots. And thousands of our students are using it successfully.
How to build a Forex trading robot
I have selected to use the cryptocurrencies because Long- distance options wanted to show you that it is possible to do it not just for the Forex pairs. Before I show you how to create Forex EA without programming I have to say that the most important first step is the Historical data. And you need to have reliable data before doing anything with Forex robots.
You can use this app or you can import the Historical data from your MetaTrader platform using the data from your broker.
If you go to data importyou will see the two scripts that you can use for MT4 and MT5. And now, if I go to the generator, I will have as a history data, data source, I have Pepperstone The strategy builders allow us to create Forex EA without programming as Forex robots without mistakes in the code. And this is one of the most common problems if you code the Forex robot by yourself or you hire a developer. What is the generator? Generator outlook The generator is an automated process based on the history data we have imported in the strategy builder, will generate strategies for us.
And we can, after that, export each one of these strategies as a Forex robot. And place them on the trading platform, and they will trade automatically. I will go quickly over the menu in EA Studio. What will happen after the generator starts working?
It will put the profitable strategies into a collection. Now, with the collection, we have many filters that we can add. And you will see just the filtered strategies.
After that, you can analyze any of the Forex Robots in the Strategy Editor.
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The nice thing here is that if you have already some strategy, some existing strategy if you found any Forex robot over the internet, someone shares a video, and so on, you can immediately see if this Forex robot is working profitably or not. This is very important because this saves us so much time. Let me just quickly show you what I mean. This is the time frame on H1 hour.
You will see here I have the history data from of June until today. You can add a Stop Loss and a Take Profit if you have into your strategy. You add the entry and the exit conditions.
I mean - that was the way it used to be. Today, you can go on with your life without missing out on all the advantages of a trading career thanks to expert advisors EAs and the automatization of the industry. After doing so, make sure to open a demo account; do not test your EA with a real account! You will need to learn which words trigger which behaviors and how to communicate with the script to make your EA work. Luckily, MQL4 comes with elements like predefined variables, which make coding much easier.
You see, here is selected long entry. This means that we put entry conditions for buy: Strategy inputs. How to create a Forex robot with different conditions for the indicators? If the bar opens above the moving average, it means it was below the moving average. And it will open above it.
It means there is a cross of the moving average. And if I click on accept, I will be able to see what the result of this Forex robot is just using one indicator. Obviously it will be a disaster. Even I put more indicators, randomly chosen indicators.
We do not have time to learn something new, and this is a normal attitude of a normal human being. Traders are people just like everyone else, they want to get maximum results for the minimum of effort. There are several articles describing how to create an automated trading system using the wizard, including a "light version" MQL5 Wizard for Dummies and a "version from developers " - MQL5 Wizard: New Version. It all seems good - a trading robot is created in 5 mouse clicks, you can test it in the Strategy Tester and optimize the parameters of a trading system, you can let the resulting robot trade on your account without the need to do anything else manually.
I click on accept I see this strategy is still losing. And this is very important. Because if you have any strategy using indicators usually what people do, they put this strategy on a demo account. They test it for one month, two months how to create your own trading robot they realize the Forex robot is losing, and they start changing parameters. So, for example, they try with 15, and they work with They look in YouTube people trying with different parameters for the indicators, and they change it, and change it and never actually having any profits or some good trade, some bad trade and they leave frustrated.
So even if you know how to create a trading robot in MT4 ot MT5 but you do not have the right strategy, you would be still losing. Now for every Forex robot, there is the optimizer: Optimizer menu with steps for optimization This means that I can optimize strategy inputs before creating a Forex EA.
And this means that the strategy builder will find better parameters for these indicators. So here we can test if this Forex robot is working on the other markets like the Bitcoin, the Ethereum, and the Litecoin. This is a little bit advanced. And I have a couple of courses actually about algorithmic trading and how you need to use precisely the EA Studio. But here I want to show you a brief presentation.
So you will have an idea at the end of the article what is algorithmic trading, what are the strategy builders, and how to create Forex Robot using them.
How to Create a Forex Robot without Programming in 2020
One more time here, we have many tests for each strategy. And the last thing on the menu here is the portfolio. Portfolio trading is unique for EA how to earn fast bitcoins price. Something that is not available with the other strategy builders.
Here you can trade many strategies in one Forex robot. Many strategies you can put it on the Meta Trader and they will trade how to create your own trading robot you automatically. If I go to the generator and this strategy that I had it, I will remove it from the collection. I will go back to the generator, and I will show you how I am using the generator to generate strategies for me.
Create Your Own Trading Robot in 6 Steps!
So for example, I will choose Pepperstone Bitcoin H1. This is on the H1 chart. And I will go to strategy properties. Here are the entry lots that we want to enter.
I will need to write 10, pips and the point, just before the last two. And I will give it a little bit bigger range. But to provide it with a huge range to find more strategies and robust Forex robots. Now, the generator settings are where we choose the working minutes. How long time the generator will generate strategies for us? Typically what I do to create Forex EA without programming I set the generator approximately hours simply at the end of the working day I set it working.
Only the generator is working while I am sleeping. I will leave it, for example, to minutes. And I will select Search best-this is the criteria that we want to arrange our strategies. The net balance is the most important, which strategy makes the most profit. In sample and Out of sampleis a really great tool that simulated Demo testing and you can learn more about it from the guide.
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For the purpose of this lecture I am not going to use it at the moment. The strategies fulfill the acceptance criteria — simple words the Forex Robot to have predefined limitations.
What are the acceptance criteria when we create a Forex robot?
Acceptance criteria for EA Studio We can add many things to the acceptance criteria. I like to use the most Profit Withdraw profit from demo account. It is calculated when we devide all the profits by all the losses.
I always want to trade with strategies that have Profit facotr bigger than 1.
The next thing is the minimum net profit. I will leave it this way. You can add some more criteria if you want the strategy and what this means? If I go back to the generator that it will show only strategies that fulfill the acceptance criteria.
For a few seconds I have many strategies calculated and already have some strategy into my collection as a Forex robot. The longer I run the Generator the more strategies I will have and I will have a better chance to find a very nice and profitable Forex robot. Of course, you can add different filters, profit factor as well I prefer to stay at 1.
I prefer to remain at 1. The other filter that I usually use here is a maximum of consecutive losses. How to create your own trading robot example, if I place 20, I will have more strategies into the collection 7 out of the 70, if I place ten they will call lower, and if I place 15 you will see that I have only 7, and if I put 5, for example, only one strategy will pass.
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I will leave it to 10, and with one click I will create Forex EA without programming from each how to create your own trading robot the 10 trading strategies. I will where to go to make money this generator working for the whole night, and tomorrow, I will see the final results. And I will leave it for minutes to work and to generate strategies for me.
How to Create Forex Robot without Programming in | Forex Academy
The Expert Advisor Studio just generated more trading robots scalpers 11, strategies for about 5 minutes and I have 96 into the collection.
But here is an exit condition, and if I click over the chart, you can see the indicators. And you can see exactly where the trades happened, where was the entry, where was the exit for all of the periods: Where the trades happened And for each strategy, you have the indicator chart, the balance chart, the equity, and you have the journal.
Report for the strategy Here are the actual trades that happened during the tested period. And we have all the statistics for the Forex robot.
Coding Your Own Algo-Trading Robot
Net balance, maximum drawdown, return to drawdown ratio, count of trades, ambiguous bars, profit per day on an average basis, win to loss ratio, Sharpe ratio, and so on, so many things that I am not going into detail.
But the idea here is that we do this automatically.
The Expert Advisor Studio calculates for us the strategies. We need to set up the inputs that we want, the criteria that we want. And these strategies must be created over the same server where I how to create your own trading robot be trading. But the important thing here is to make it on a separate browser. Because this way, EA Studio works faster. I will just login in as well.
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And I will do the same generation for the other cryptocurrency Forex robot. How to create a trading robot in mt4 for Dash: Dash Forex robot generation Also, for the H1 chart and then I will go to strategy properties, here 0. I go back to the generator. I always put the minimum as a spread, and here I give it a more significant range so that I will use this as a minimum as well for the Take Profit. The generator settings also minutes here.
I click on Start, and now the generator will start creating strategies. And I will run as well for the Litecoin.
The spread wasgo to generator I choose the wanted cryptocurrency. It is awesome! I will put a minimum of as I said this is the spread, another more significant number here and then here.