ROBOT - eXpert Advisor

EXPERT ADVISORS :: AUTOMATED TRADE SYSTEMS EAs :: ROBOTS ::

This software (Metatrader4 Expert Advisors) can HELP you to make hight profit on Forex, if you give a little of your attention to this most interesting theme. For functioning the expert advisors is required that on computer was installed and uncared-for MetaTrader 4 , expert advisors was attached to Chart and were enclosed all necessary options, allowing actions of the expert advisors. In operation expert advisors computer must have a constant connection to trade server.


MetaTrader is one free, powerful, customizable Forex trading platform that supports custom Expert Advisors. With MQL4, you can create your own custom indicators, with your own scripts and libraries. MetaTrader Expert advisor is a MetaTrader 4 add on, which automates the trading process based on your settings. An expert advisor for MetaTrader automates opening and closing of trades. You can set more than one Expert Advisor for MetaTrader and each EA can be set to book profits at assigned points. If the currency shows negative trend, MT opens another trade to book profits at assigned margins and buffers the loss from the first trade. MetaTrader expert advisor is only a tool that you can use to automate your Forex trading strategies. In other words, MetaTrader 4 Expert Advisor allows you to script your strategies and attach it to the MetaTrader platform. Thus, the software implements the strategy that you have taught the system, without the need of your interference. With MetaTrader Expert Advisor , it is just like you doing the real business. Only difference is, your Forex trading strategy is put into an autopilot.


The principles of MQL4-programs development are shown on sample of creating a simple Expert Advisor system based on the standard MACD indicator. In this Expert Advisor, we will also see examples of implementing such features as setting take profit levels with the support of trailing stop as well as the most means ensuring safe work. In our example, trading is done through opening and managing a single position.

Trading principles:


Long (BUY) entry – MACD indicator is below zero, goes upwards and is crossed by the Signal Line going downwards.


Short (SELL) entry – MACD indicator is above zero, goes downwards and is crossed by the Signal Line going upwards.


Long exit – by execution of the take profit limit, by execution of the trailing stop or when MACD crosses its Signal Line (MACD is above zero, goes downwards and is crossed by the Signal Line going upwards).

Short exit – by execution of the take profit limit, by execution of the trailing stop or when MACD crosses its Signal Line (MACD is below zero, goes upwards and is crossed by the Signal Line going downwards).


Important notice: to exclude insignificant changes of the MACD indicator (small 'hillocks' on the chart) from our analysis, we introduce an additional measure of controlling the size of the plotted 'hillocks' as follows: the indicator size should be at least 5 units of the minimum price (5*Point, which for USD/CHF = 0.0005 and for USD/JPY = 0.05).




Step 1 – Writing the Expert Advisor description

Point the mouse cursor at the Expert Advisors section of the Navigator window, press the right button of the mouse, and select "Create a new Expert" command in the appearing menu. The Initializing Wisard of the Expert Advisor will ask you for entering certain data. In the appearing window, write the name (Name) of the Expert Advisor - MACD Sample, the author (Author) - indicate your name, the link (Link) - a link to your website, in the notes (Notes) - Test example of an MACD-based Expert Advisor.



Step 2 – Creating the primary structure of the programme

Source code of the test Expert Advisor will only occupy several pages, but even such volume is often difficult to grasp, especially regarding that we are not professional programmers - otherwise, we would not need this description at all, would we? :)