Create Your Own Trading Robot in 6 Steps! - MQL5 Articles
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. I have selected to use the cryptocurrencies because I 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 trading robot how to create 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.
The website section Code Base contains examples of ready-to-use applications.
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.
Create Your Own Trading Robot in 6 Steps!
After that, you can analyze any of the Forex Robots in the Strategy Editor. 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.
- Photo by M.
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You add the entry and the exit conditions. 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.
How to Create a Forex Robot without Programming in 2020
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.
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.
Obviously it will be trading robot how to create disaster. Even I put more indicators, randomly chosen indicators.