Trading Academy

Lesson 44

Building your own Expert Advisor

Building your own Expert Advisor

An Expert Advisor is a trading robot that automatically places trades for you once the required criteria are met. The mechanical rules are introduced using a series of “if-then” statements.

Building your own custom Expert Advisor that automatically applies your strategy will be useful if you are trading multiple pairs or you don’t have time to be in front of your computer to trade.

To create an expert advisor, follow these steps:

  1. Open MetaEditor:  Tools > MetaQuotes Language Editor.

  1. Select New > Expert Advisor. Click Next to continue.

  1. In the General Properties of the Expert Advisor window, specify the Name, Author, Link and Parameters . Use the Add and Delete buttons to add or remove parameters. Click Finish to continue.

  1. In the new window that appears you can now enter the Expert code using the MQL4 programming language and syntax.

(Note: Learn more about programming in the MQL4 environment by reading the MT4 Help Guides and participating in the MQL4 community forums).

  1. Once the code part of the Expert Advisor has been completed, it must be compiled. For this, go to File > Compile.

  1. After successful compilation, the Expert Advisor will appear in the Navigator and is ready to use.
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