Input strategy parameters Under the Generator tab, set the data source, currency pair symbol, and your preferred trading period. Add custom MQL code. Specifying other Generator settings. Blogger 15 September
The forex market is one of the most dynamic markets on the planet. This is mainly because they don't have good tested trading strategy. On the other hand having a strategy, means that you have clear rules about every market situation. And when the rules are clear this trading system can be automated. There are many advantages for the automated systems like - 24 hours trading, reaction speed,monitoring huge numbers of financial instruments in different timeframes, the ability to backtest the system and many others.
Automating a trading system is difficult because it requires program skills which most of the traders don't have. With this Expert Advisor builder such skills are no longer needed. In our big experience creating automated trading systems, we have found that usually simple things work. With every rule you add , you optimize your results in the past, but this will give you worst results in the future. So our advice is - keep things simple.
Since the backtesting results are provided real-time, you can modify your trade entry and exit rules until you come up with a strategy that best fulfills your needs.
A Forex Robot also referred to as an Expert Advisor, refers to a software with inbuilt trading rules that automatically determine when to enter or exit the market. Automated trading systems are ideal for overcoming the disadvantages of manual trading and providing you with a profitable method of earning massive profits from the forex market.
With expert advisors, you can trade non-stop, eliminate emotion-based trading decisions, and greatly reduce trading errors. If you still rely on the traditional manual trading methods, you are prone to making greed-driven trading decisions, making silly trading mistakes due to fatigue, and increasing your losses due to ill-timed decisions.
On the other hand, robot trading eliminates that need and provides you with the freedom you need to effortlessly earn massive profits from forex trading. Furthermore, you can program multiple strategies into expert advisors and greatly increase your profits, something difficult to achieve with manual trading. For a long time, creating an expert advisor for MetaTrader 4 required that you have advanced programming skills and other technical skills. By using the forex robot generator, you can create profitable expert advisors without ever worrying about any line of code.
With the EA generator such as Forex Robot Factory , you can transform any manual trading system into an expert advisor without writing complicated codes. You may need to spend lots of money and invest a lot of your time learning how to create forex robots that work. However, the expert advisor builder and generator saves you the money and the hard work and provides you with an intuitive platform to create an expert advisor without programming.
The rest will be automatically completed for you. The expert advisor generator for MT4 and MT5 is what you need to enjoy the benefits of robot trading. This way, you can conveniently fine tune it until you generate an EA that can deliver maximum profits from your efforts. As earlier mentioned, the forex robot generator allows you to automatically create money-making robots against the defined parameters. First, you need to define parameters of a trading strategy to entrench into the robot.
You can try your strategy under simulated forex trading conditions to ensure it works according to your preferences. Under the Generator tab, set the data source, currency pair symbol, and your preferred trading period.
Next, define your strategy properties. In addition, the Generator will backtest the created strategies by utilizing advanced criteria and displaying the tested results. The Collection section stores all the generated trading strategies.
Here, you can sort the strategies using the available statistical parameters. You can use the Editor to create and refine your strategies through utilizing indicators and other parameters.
When editing your strategies, the tool will perform a backtest against historical data, allowing you to determine if you are on the right track. The MT4 EA generator has various tools to optimize your trading strategy and also validate it on a wide range of trading conditions. For example, you can use the stress tester and the multi-market tester to gauge the robustness of your trading strategies against different market conditions. When optimizing your strategy, remember to check the backtest results to ensure they are satisfying.
Check the Report page for comprehensive information about the performance of your strategy against historical data.
The page also has statistics information, an indicator chart, and other useful information. If the backtest results are not satisfying, it could mean that you need to refine your strategy further or just generate a new collection of robots to find better ones.
It takes several minutes anyway. Setup order opening signals via build-in or custom indicators. Import your own or custom third party indicators.
Limit opening of new orders to specific days of the week. Set hours when Expert Advisor should open new orders. Limit Expert Advisor to work only when spreads are less than set value.
Setup second order with different take profit, stop loss, etc. Mainly used for break-even trading scenarios. Option to close orders if opposite signal has been received.
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