Custom Expert Advisors (EAs)

Tutorial: Creating Custom Expert Advisors (EAs) Without Programming Skills

If you lack programming skills, there’s an advanced online tool called EA Builder that provides a user-friendly interface to transform your trading ideas into fully automated strategies.

What Is an Expert Advisor?

An Expert Advisor (EA), also known as a Forex Robot, is a small software program that can automatically trade any trading account. This software runs on trading platforms like MetaTrader, JForex, TradeStation, and others.

 

EA Builder Basic Features (for MT4, MT5, or TradeStation)

 

EA Builder is a 100% web-based application that converts trading ideas into indicators or Expert Advisors (EAs). It is compatible with MT4, MT5, and TradeStation platforms. No programming skills are required—beginners can easily use this tool.

• Creating indicators is completely free

• Creating Expert Advisors requires a one-time payment of $97

• Includes a full set of built-in functions, such as trendlines and time parameters

• Contains comprehensive money-management modules

• Outputs a single compiled MQL4/MQL5 file ready for trading

• Comes with 15 video tutorials to guide users

» the EA Builder Web Application

 

Advantages of This Method

 

• Free to create indicators, which can later be converted into EAs

• No programming skills required thanks to a graphical interface

• Ability to build automated strategies for all asset classes and any timeframe

• Includes dozens of functions and a wide range of technical indicators

• Supports action alerts via email, audio, and on-screen notifications

• Controls for spread and slippage, essential for scalping strategies

• Can create EAs for trading Binary Options

• Compatible with MT4, MT5, and TradeStation

• Final code can be used on unlimited accounts with no restrictions

 

Automated Trading Features

 

• Full functionality including time, support & resistance, trendlines, and more

• Visual use of arrows via the EA Builder interface

• Unlimited variables for EA creation

• Multiple money management systems can be implemented

• Generates human-readable output in a single file

• Lot size and contract numbers can be adjusted

• Supports Martingale and Anti-Martingale techniques

• Customizable trading time preferences, including specific days and hours

 

Start Building Indicators for Free

EA Builder allows you to create indicators completely free, with no time restrictions. Later, you can upgrade to the full version—which costs a one-time fee of $97—to transform those indicators into fully automated Expert Advisors.

» EA Builder Free for Creating MT4/MT5 Indicators 

 

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How to Create Your First Expert Advisor (EA)

 

In this example, we’ll build an Expert Advisor based on a simple SMA crossover.

• Go to the Expert Advisor Builder website and sign up (this takes just a couple of minutes).

• Next, open a new strategy in MetaTrader 4 and name it MA Cross.

• Now, add your trading condition by selecting Add condition.

You will see three fields: LEFT, MIDDLE, and RIGHT.

• In the LEFT field, select Moving Average (5 periods).

• In the MIDDLE field, choose crosses above.

• In the RIGHT field, select Moving Average (20 periods).

Image: Adding Moving Averages

Note: There is an important difference between “is above” and “crosses above.”

• “Is above” creates a continuous signal, meaning an order will be opened on every tick as long as the 5-period moving average remains above the 20-period moving average.

• “Crosses above” generates a unique signal, so only one order is opened once the crossover occurs.

→ After selecting the correct condition, click OK.

 

Creating a Selling Order

Tip: Use the magic button to create the opposite conditions for a selling order.

→ Now, create the opposite condition to close the trade. For short positions, create the opposite order to close them. You can find additional options in the Common tab.

For proper money management, enter the lot size. Note that 1 standard lot equals 100,000 USD, so if you want smaller trades, use sizes like 0.5, 0.1, 0.05, etc.

→ You can also add alerts, such as Audible Alerts, to hear a sound whenever an order is executed.

That’s it! Your first Expert Advisor is ready, and the source code is generated. You can copy it and compile it in MT4.

 

Backtesting Your First Expert Advisor

MT4 provides a useful tool for historical backtesting.

→ In MT4, go to View → Strategy Tester.
→ Select the Expert Advisor you just created (you may need to restart MT4).
→ Choose any currency pair and timeframe, then start the tester.

 

Avoiding Multiple Crossovers

Since prices fluctuate, moving averages can cross multiple times within a single bar. To avoid multiple signals:

• In the Common tab, check the option Next Open Trade After and set it to 5 bars (for example).

• Also set Minimum Trade Duration to 5 bars.

Now your EA will wait 5 bars before opening another trade or closing the current position.

 

 

Creating Inputs for Your Expert Advisor

The first input could be the time when pending orders are placed.

→ Go to your strategy and edit the conditions.
→ Check the box Add to inputs.
→ Add a new input and give it a name.
→ The condition will now appear in the list of inputs.

You can add additional inputs, such as optimizing the Take Profit value (in pips).

Image: Trading Orders

 

Add the new condition again to the inputs. After adding the new input, replace the suggested name with your preferred one. Then click OK three times.

The Take Profit value will now be replaced by a variable name.

 

Optimizing the Trailing Stop Order

The number of bars determines how often the Stop Loss is adjusted.

• Add this to inputs.

• Add the new input with your preferred name.

Now copy the updated source code, replace the old source in MT4, and compile it.

As recommended by the Expert Advisor Builder team, you can also experiment with using the Average True Range (ATR) indicator instead of a fixed number of pips for better trailing stop optimization.

 

Try the Expert Advisor Builder for Free

• Free to use for creating indicators

• $97 (one-time) to create Expert Advisors

» Expert Advisor Builder Website

 

■ Custom Expert Advisors (Automated Trading Strategies)

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