Expert Advisors are programs which allow individuals to automatically trade the financial markets via the MetaTrader trading platform. There are a number of different ways to build Expert Advisor’s, and it is now possible to build your own custom Expert Advisor’s without having to code them yourself.
Expert Advisor’s are written in the MetaQuotes Language, with the MetaTrader 4 and 5 platforms using different versions of the MetaQuotes Language. This means that Expert Advisor’s written in MQL4 will only work on MetaTrader 4, with the two languages not being compatible. For those with no coding experience writing an Expert Advisor will likely be quite challenging, with the MetaQuotes language being based on object-orientated C++ language.
The official MetaQuotes Language 4 site does include complete documentation explaining all the features of the language and how they can be used. This documentation is squarely aimed at those who have previously programming experience. Those who have programmed in a language based on C should be able to pick the MQL4/5 in a relatively short space of time. There is not however any particularly accessible tutorials which would allow a complete newcomer to programming to learn the language, this likely due to the strong similarities between MQL and C++.
Use An Expert Advisor Builder
There are a number of different tools which allow traders to build Expert Advisors without having to write any code themselves. These tools make it much easier to build an Expert Advisor (EA), but generally these tools are unable to build some more sophisticated Expert Advisors which traders may want to build.
Expert Advisor Builder for MetaTrader 4
The Expert Advisor Builder for MetaTrader 4 is free to use and allows traders to build custom EA’s which use MetaTrader’s built in indicators. The tool is relatively easy to use, with traders simply adding in the indicators they want which are then combined to create a program which will place trades based on the users input. Out of the Expert Advisor builders I have used this is by far my favourite and will allow you to create relatively sophisticated EA’s without having to write any code yourself. As long as you have a good grasp of logical operators, building an Expert Advisor using this free tool should be a breeze.
Strategy Tune is a free visual Expert Advisor builder which allows you to create EA’s for the MetaTrader 4 platform. The Visual platform is meant to make building an Expert Advisor much easier, allowing you to build an EA by dropping various indicators and operators onto the interface of the free app. This is good as it allows you to see the logic behind the Expert Advisor and can help you build some quite sophisticated automated trading programs. I found the learning curve with Strategy Tune to be greater than with the other option mentioned in this article, though Strategy Tune has more flexibility and is superior should you want to build a sophisticated EA.
Paying A Programmer
There exist a number of companies and programmers who specialise in writing Expert Advisor’s for the MetaTrader platform. These programmers will write you a custom Expert Advisor based on your specification, allowing you to concentrate on working out a successful trading strategy, leaving the behind the scenes work to a developer who is fluent in the MetaQuotes language. The cost of such an option varies greatly and the quality of the final product many differ depending on the quality of the programmer hired. Before pursuing this option, traders should make sure they have worked out a successful trading strategy and properly research the programmer/company to complete their task.