Create Your Own Expert Advisor in MQL5 Wizard

Lenar

Junior member
20 1
The knowledge of programming languages is no longer a prerequisite for creating trading robots. Earlier lack of programming skills was an impassable obstacle to the implementation of one's own trading strategies, but with the emergence of the MQL5 Wizard, the situation radically changed. Novice traders can stop worrying because of the lack of programming experience - with the new Wizard, which allows you to generate Expert Advisor code, it is not necessary. The program will do all the work itself.

Virtually every Expert Advisor consists of three independent modules - signals, money management and trailing stop. And because the modules can be implemented in various ways, there are a lot of possible combinations of Expert Advisors. Thus, you can construct an EA to your liking. You only need to specify the desired parameters and select the necessary components - and the MQL5 Wizard will do the rest. The creation of trading robots has never been so quick and simple. Only four clicks - and the Expert Advisor trading according to your strategy is ready!


To what trading signals will your EA respond? What money management system will it use? How will the trailing stop be implemented? Answering to these questions, it is easy to get a ready Expert Advisor. After compilation, you only need to test the Expert Advisor that you have built of blocks, and then optimize it by choosing the best parameters. After all these steps, you will get a workable EA, completely ready to trade. It will trade in accordance with the algorithms of trading signals, money management and trailing stop chosen in the Wizard.

The set of parameters and algorithms of the MQL5 Wizard will be expanded over time. You will have access to a wider range of possibilities and different combinations of Expert Advisors, from which you will be able to choose the one that suites your trading activities. However, even now it's difficult to overestimate the importance of this Wizard for the traders who don't have programming skills. It allows you to greatly simplify the process of trading robot development, creating different EA modules for you. A complete set of working tools for automated trading is now available not only to MQL-developers, but also to ordinary traders. Download the MetaTrader 5 terminal and see it for yourself.
 
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oiltanker

Established member
955 89
oo. nice.

there'll be a drag n drop wysiwyg some day? which is why i refuse to learn another computer language. every time i bother learning one the wysiwyg editor comes out soon after.
 

fx.doctor

Newbie
4 0
can u tell me a site where i can sell my EA's with back tests
 

megamuel

Experienced member
1,098 164
Anyone know how I can change an MT4 Indicator to work in MT5. I'm quite surprised it doesn't but apparently they are different files. This is really important any help is appreciated!!!
 

HowardCohodas

Experienced member
1,868 97
Prodigio by ThinkOrSwim offers similar capability through a GUI interface. Non-programmer implementations back-testing and robots is a recent but wonderful capability. I'm a software engineer and I would now start with one of these approaches rather than roll my own.
 

counter_violent

Legendary member
10,272 2,679
Anyone know how I can change an MT4 Indicator to work in MT5. I'm quite surprised it doesn't but apparently they are different files. This is really important any help is appreciated!!!
Unfortunately, the Metatrader4 language won’t be compatible with MetaTrader 5 . To meet the incorporate the requested features and execution speed, a new object orientated programming language was developed. As a result, existing MT4 custom indicators and EAs ( .mq4 and .ex4 files ) won’t work with MT5 platform..
 
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megamuel

Experienced member
1,098 164
Ohhhhh mannnnn that really sucks. Oh well guess I can carry on using MetaTrader 4 for now!!! Cheers.
 

NVP

Legendary member
37,416 1,950
and until the microsoft effect occurs........(use our programmes or nothing)

MT5 will languish.........

I might have a little look though

are all the big brokers offering this now ?

N
 

wackypete2

Legendary member
10,229 2,052
and until the microsoft effect occurs........(use our programmes or nothing)

MT5 will languish.........

I might have a little look though

are all the big brokers offering this now ?

N
To the best of my knowledge very few brokers are offering it and those that are so far are only offering it as a demo. I'm not sure who has it live yet.

Peter
 

duncmac

Junior member
16 0
is this facility only for creating EAs for MT5 ? so basicly does this mean that, even though one might create EAs with this tech., it cannot be traded as MT 5 is not yet LIVE ?!
 

megamuel

Experienced member
1,098 164
Yeah my MT5 is just demo. I just wanted to get a custom Heiken Ashi Indicator on there that I have already on MT4. Never mind.
 

Lenar

Junior member
20 1
Latest News on MQL5 Wizard v.2

News about MQL5 Wizard v.2:
  1. MQL5 Wizard v.2 release date - April 2011
  2. The algorithm generated by MQL5 Wizard can contain an unlimited amount of signals.
  3. Every signal got its own "weight" and will be considered in the algorithm according to it.
  4. The release version will contain about 15 different signals to be used in algorithms. More signals will be added after release.
  5. Any signal can be used on its own security and period. It will give the possibility of multi-currency analysis, but not multi-currency trading. All the EAs generated with MQL5 Wizard will be single-currency only.

Screenshots:




 
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Blaiserboy

Well-known member
391 24
I use MT5 as well as MT4.

Mt5 makes good use of quad processors, backtesting is a lot faster, and offers multicurrency ea's...

I quite like it, except I am slow to catch on to the language.
 
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