Thanks for being interested to this great things. we everybody who love forex trading always using a strategy and focus to meet the conditon and then open a trade. if someone do this automatically for you including a stoploss and take profit that would much easier to maximize your trading goal and reduce pressure. so guys, today i will take you there to convert your any current trading strategy to automated robot (expert advisor).
Step-by-Step Guide to Create an EA in MT4
An EA (expert advisor) is a script that can automatically execute trade based on your trading strategy. i am going to show it for MT4 platform which are run using MQL4 code. to get started follow the step Click on Tools → MetaQuotes Language Editor or press F4. you should get the screen below and follow it to insert a new template.
You have to click new> Select expert advisor (template) and click next. you are ready to name your EA and input setup. check the screenshot below.
Once you done this click next few times without selecting anything on the next screen. one of the default code will be presented to your screen. now its time to set your trading logic. without programming language knowledge this is very difficult for first time but i will try to give you some basic idea. i have pasted the default code below. you will get same like this as a main code for the EA.
//+------------------------------------------------------------------+
//| Expert initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
// Initialization code
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert deinitialization function |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
// Cleanup code
}
//+------------------------------------------------------------------+
//| Expert tick function |
//+------------------------------------------------------------------+
void OnTick()
{
// This runs every time a new tick is received
}
//+------------------------------------------------------------------+Adding a logic to open trade
Let me set an example logic to the above code. generally we use 50 EMA to check market trend. i have added a logic the code below to place a buy trade when market price cross above the 50 EMA.
void OnTick()
{
double ma = iMA(NULL, 0, 50, 0, MODE_SMA, PRICE_CLOSE, 0);
double price = Ask;
if (price > ma && OrdersTotal() == 0)
{
OrderSend(Symbol(), OP_BUY, 0.1, Ask, 2, 0, 0, "Buy Order", 0, 0, clrGreen);
}
}
Compile the EA
Right now the above code is just a mql4 source code but not an ex4 file. MT4 platform require an ex4 file to execute the EA. to do this simply you need click on complie button. before you do that make sure you saved the file in MT4>File>Open Data folder>MQL4> Experts. now time to press the compile button.
Next, check your left side navigation in MT4 terminal for the update. right click on expert advisor menu and refresh if you can’t see or restart the MT4. once your found your EA just drag in to a chart. you will see EA is executing correctly. if any error during the compliation just check your code.
I don’t have programming language skill so who can convert the strategy to a corrct EA?
Well, everyone is not an expert so nothing worry about it. you can HIRE an expert in mql5 marketplace for the EA or you can get an expert from freelancer/upwork etc marketplace. there is a huge expertise ready to do it for you. even i am an expert to code your trading strategy to an expert advisor. contact us with your trading strategy so we can do it for a fraction of cost. this may take up to 2-3 working days to convert a full strategy to expert advisor.
