Limit opening of new orders to specific days of the week. Furthermore, you can program multiple strategies into expert advisors and greatly increase your profits, something difficult to achieve with manual trading. Option to close orders if opposite signal has been received.
Mainly used for break-even trading scenarios. Option to close orders if opposite signal has been received. Martingale and Semi-Martingale risk management. Include your own custom code into the diagram. You must log in or sign up to reply here. Your name or email address: Do you already have an account? No, create an account now. A forex expert advisor generator is an online-based application that can help you in creating profitable automated trading strategies without a single line of code.
Instead of using an EA builder or hiring a programmer to develop a robot, the expert advisor generator eliminates the time consuming and often difficult process of creating an EA and automates the entire process for you.
With this online-based tool, you can develop reliable robots and deploy them both to the MetaTrader 4 and MetaTrader 5 trading platforms. You do not need to be a programmer or possess some genius technical skills to start using this forex strategy generator.
You only need to choose what indicators you want to use, input few simple trading criteria into the robot generator, and the rest of the magic will be automatically completed for you. The tool will automatically create an EA and backtest its profitability using its in-built platform features.
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. Initial and breakeven stops The initial stop should allow the transaction enough room to move without being stopped out.
So the ideal transaction will have:. As we will see later, the Double in a day strategy requires a market trend of more than 80 pips, 2 top-ups and breakeven safety margins that are quite tight. The suggested strategy is to go for more conservative account gains initially until you have developed the skill of using the appropriate strategy at the appropriate time. The Forex strategy generator takes your input and generates a trading strategy. If you are happy with the strategy click on Yes. The trading chart displays the strategy as shown below.
You can change the colors and line types. One of the main reasons for not liking the strategy would be because the margin of safety in the break even stops is too small. The res arrows show the margin of safety. The margin of safety shown is 20, 23 and 22 which is reasonably acceptable. If you are however not happy with the margin of safety and would like to increase them, you can use a combination of the following: In most cases if the margin of safety is reasonable and balanced the strategy should be acceptable.
Most of this information is also available in the EA User manual. The DoubleInADay EA generates strategy plan and validating the steps of this plan may result in blocking issues to execution. The EA queries the minimum required and maximum allowed lot sizes from the broker. The EA queries the required funds for 1 full lot from the broker.
If the current free margin is less than the calculated one then this message is displayed. Based on this and the lot sizes for the initial and topup trades the EA checks if the required accumulated margin was available on the account. If the current free margin is less than the accumulated one then this message is displayed. The EA checks that the initial SL and the calculated break even stops after topup trades are at least the MinStopDistancePips away from entries, considering the current spread as well.
This message is displayed if there is problem. Notify me of new posts by email. Direction The direction is determined by the trader.
Price If this is left as 0 then the EA will enter a market order. Anticipated trend Enter the length of the trend you are hoping for your trade. Enter the trend you are anticipating in pips not points Stop loss for your initial transaction Enter the stop loss for your initial transaction. Top-up levels The next input requires you to decide on how many top-up levels there should be AND where they should be. If you enter percentages in both levels, then 2 levels will apply at the percentages entered If you enter a value in the first level only, then the EA will only top-up one time at the value entered When it comes to designing a strategy the top up levels are very important.
Minimum stop distance in pips When we review the Strategy generator you will see that it automatically calculates break-even stop levels which gives the price room to move. Enable new trades after the strategy closeout This Ea can be set for continuous trading or you can trade it trade by trade. Magic Number It is very important to use unique magic numbers if you want to trace your trades in detail and always change your magic number if you already are trading the EA using the same currency cross.
At first we will discuss the general principles of safely using this EA Line color and style settings Your transaction strategy will be displayed on the charts. Chart information This setting allows you to turn the display of information on or off on the chart. Manual override This setting can be ignored.
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