- MT4 Expert Advisor Template
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They test it for one month, two months until they realize the Forex robot is losing, and they start changing parameters. So, for example, they try with 15, and they work with They look in YouTube people trying with different parameters for the indicators, and they change it, and change it and never actually having any profits or some good trade, some bad trade and they leave frustrated. So even if you know how to create a trading robot in MT4 ot MT5 but you do not have the right strategy, you would be still losing.
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This means that I can optimize strategy inputs before creating a Forex EA. And this means that the strategy builder will find better parameters for these indicators. We have Multi-Market. So here we can test if this Forex robot is working on the other markets like the Bitcoin, the Ethereum, and the Litecoin. This is a little bit advanced.
MT4 Expert Advisor Template
And I have a couple of courses actually about algorithmic trading and how you need to use precisely the EA Studio. But here I want to show you a brief presentation. So you will have an idea at the end of the article what is algorithmic trading, what are the strategy builders, and how to create Forex Robot using them.
One more time here, we have many tests for each strategy. And the last thing on the menu here is the portfolio. Something that is not available with the other strategy builders. Here you can trade many strategies in one Forex robot. Many strategies you can put it on the Meta Trader and they will trade for you automatically.
If I go to the generator and this strategy that I had it, I will remove it from the collection. I will go back to the generator, and I will show you how I am using the generator to generate strategies for me. So for example, I will choose Pepperstone Bitcoin H1. This is on the H1 chart. And I will go to strategy properties.
Here are the entry lots that we want to enter.
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I will need to write 10, pips and the point, just before the last two. And I will give it a little bit bigger range. But to provide it with a huge range to find more strategies and robust Forex robots. Now, the generator settings are where we choose the working minutes. How long time the generator will generate strategies for us?
I set the generator approximately hours simply at the end of the working day I set it working. Only the generator is working while I am sleeping. I will leave it, for example, to minutes. And I will select Search best-this is the criteria that we want to arrange our strategies. The net balance is the most important, which strategy makes the most profit. In sample and Out of sample is a really great tool that simulated Demo testing and you can learn more about it from the guide.
For the purpose of this lecture, I am not going to use it at the moment. The strategies fulfill the acceptance criteria — simple words the Forex Robot to have predefined limitations. We can add many things to the acceptance criteria. I like to use the most Profit Factor. It is calculated when we devide all the profits by all the losses.
I always want to trade with strategies that have Profit facotr bigger than 1. I will leave it this way. You can add some more criteria if you want the strategy and what this means? If I go back to the generator that it will show only strategies that fulfill the acceptance criteria. For a few seconds I have many strategies calculated and already have some strategy into my collection as a Forex robot. The longer I run the Generator the more strategies I will have and I will have a better chance to find a very nice and profitable Forex robot. Of course, you can add different filters, profit factor as well I prefer to stay at 1.
MT4 EA Course: our first forex expert advisor
I prefer to remain at 1. The other filter that I usually use here is a maximum of consecutive losses. For example, if I place 20, I will have more strategies into the collection 7 out of the 70, if I place ten they will call lower, and if I place 15 you will see that I have only 7, and if I put 5, for example, only one strategy will pass.
I will leave this generator working for the whole night, and tomorrow, I will see the final results. And I will leave it for minutes to work and to generate strategies for me. The Expert Advisor Studio just generated more than 11, strategies for about 5 minutes and I have 96 into the collection. Just what I was showing you as an example.
But here is an exit condition, and if I click over the chart, you can see the indicators. And you can see exactly where the trades happened, where was the entry, where was the exit for all of the periods:. And for each strategy, you have the indicator chart, the balance chart, the equity, and you have the journal.
Here are the actual trades that happened during the tested period. And we have all the statistics for the Forex robot.
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Net balance, maximum drawdown, return to drawdown ratio, count of trades, ambiguous bars, profit per day on an average basis, win to loss ratio, Sharpe ratio, and so on, so many things that I am not going into detail. But the idea here is that we do this automatically. The Expert Advisor Studio calculates for us the strategies. We need to set up the inputs that we want, the criteria that we want. And these strategies must be created over the same server where I will be trading.
But the important thing here is to make it on a separate browser. Because this way, EA Studio works faster. I will just login in as well.
And I will do the same generation for the other cryptocurrency Forex robot.