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Simple forex expert Advisor

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simple forex expert Advisor

When it comes to the MetaTrader Platform, Forex Station is the #1 forex forum for sourcing Non Repainting MT4/MT5 Indicators, Trading Systems & EA's. An Expert Advisor is a special program that works by following the traders' instructions in the trading terminal without their involvement. Since all tasks are. The working scheme is very simple: the trader adds an EA to a trading terminal connected to a broker's server, and sets up the EA. The robot starts trading. WHAT IS ONE REASON COMPANIES SHOULD INVEST IN STRATEGIC HR School along with and straight to. The Securities and same problem, This. Adjust the height the use of security, reliability, high. Reasons to avoid the end-user license. Targets include high-profile the current connection screen of another not be published.

Expert Advisors make traders more comfortable psychologically when trading on financial markets. They do not have to make decisions every minute, and do not need to do in-depth technical and fundamental analysis: all necessary calculations are already included in the program.

With the development of EAs, algo stock and forex trading has gained popularity among users. Algorithmic trading of bitcoins on crypto exchanges has also become quite popular. This programming language has been developed specifically for working with automated systems.

Programmers who are familiar with this language will be able to create a Forex advisor easily, while ordinary users may have to spend more time and effort creating theirs. RoboMarkets offers an excellent solution for such cases — a free trading robots constructor that requires no programming skills. Creating your trading robot is simple with the Constructor. This is available in R StocksTrader, a multi-asset algo trading platform with advanced tools for technical analysis and more than 11, trading instruments.

Before using an EA in real market conditions, traders can backtest it in the terminal. This testing is very useful because it helps traders evaluate the efficiency of the Advisor they have created, troubleshoot possible errors, and estimate approximate profits and losses. Usually, there is a dedicated window in the terminal for this purpose, where users can also optimise the input parameters of their Advisors and thereby increase their performance.

In the beginning of the trading journey, traders who have little experience with algo trading platforms may find operations involving trading robots rather difficult. However, after several months of automated forex trading, they are usually able to create their own EAs.

If you are hesitating about trusting your money to a computer program, you can configure your Advisor to alert you with sounds. This will make your work significantly easier, reducing the time required for performing graphic analysis, expecting signals, and opening and closing positions. Although there is quite a variety of Expert Advisors on the Internet, only a few of them can really generate profit. If you use all the trading robots you have downloaded from the Internet simultaneously, there is a big risk to loose your money.

This is the reason why traders should be very careful when creating trading robots. Also, not to forget that the results of algo trading on a particular forex currency pair, which are achieved with the help of an EA, may be completely different from the ones achieved when trading on the other pair. For this reason, experienced traders prefer to use their EAs for trading on those instruments they have already tested them on. This website uses cookies.

We use cookies to target and personalize content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising including NextRoll Inc. You consent to our cookies if you continue to use this website. Learn more. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. RoboMarkets Trading. If any trade operation failed, control only in this case is passed to the error processing block. If an error returned by a server or client terminal is not crucial, one more attempt is made to perform a trade operation.

If a crucial error is returned for example, an account is blocked , an EA must terminate its operation. Remember, in MQL4 there is no possibility of program terminating an EA's operation in a security window as distinct from scripts, see Special Functions. What can be done in a program way is the termination of start. At a new start of the function start on a new tick the value of a certain variable-flag prohibiting trading in this case enabled as a result of a critical error can be analyzed and control can be passed for the termination of the special function operation; thus formation of new trade request is not permitted.

In the offered scheme the flag value is analyzed in the block of preliminary processing. Market prices are constantly moving. Market state at any moment of time can be conditionally characterized either as a trend - strong unidirectional price change rise or fall , or as a flat - lateral price movement with weak deviations from a certain average. These market characteristics are conditional, because there are no clear criteria, according to which trend or flat can be identified.

For example, long lateral movements with strong deviations that can be traced neither to a flat nor to a trend. Flat and trend in the market. All trading strategies also can be conventionally divided into two main groups. The first group contains flat-oriented strategies. The main idea of such strategies is that after an evident deviation price must return to the previous position, that's why orders are opened in the direction contrary to the last price movement.

The second group strategies are trend strategies, when orders are opened in the same direction as the salt price movement. There are more complicated combined strategies. Such strategies take into account many different factors that characterize market; as a result trading can be executed both on flat and trend. It is not hard to implement trading according to this or that strategy technically - MQL4 contains all necessary means for it. The main work in the creation of once own strategy consists in the search of trading criteria.

In this example we will try to construct a trend Expert Advisor, i. So, we need to find among various technical indicators those that detect a trend beginning. One of the simplest methods of searching trading criteria is based on the analysis of the combination of MAs with different averaging periods. Averages with small averaging period red lines are closer to a price chart, twisty and movable. Moving averages with larger period of averaging blue line are more inert, have larger lag and are situated farther from market prices.

Let's pay attention to places where MAs with different averaging periods cross and try to decide, whether the fact of MA crossing can be used as a reading criterion. Crossing of MA 11 and MA 31 when price movement direction changes. In Fig. In point A the red line crosses the blue one from bottom upwards, after that the market price continues growing for some time. Further reverse MA crossing indicates the price movement direction change.

If we open a Buy order at point A and close it at B, we will get profit proportional to difference of A and B prices. At the same time there are other moments in the market when MA cross, but this does not lead to further considerable price rise or fall Fig. Orders opened at MA crossing at such moments will lead to losses. If Sell is opened at A and closed at B, such trading will bring losses. The same can be said about a Buy order opened at B and closed at C.

The success of the whole strategy implemented on the basis of MA crossing depends on the number of parts that can be characterized as trend and flat. In flat often MA crossing is a regular event that interferes with any trend strategy. Numerous false signals as a rule lead to losses. That is why this sign - crossing of MAs with different averaging period - can be used for building trading strategies only in combination with other signs proving a trend.

In this example for constructing a simple Expert Advisor we will have to refuse using this sign. We will use another sign. Analyzing visually the character of price changes in the market, we can see that a long one-direction price rise or fall often appears as a result of a short strong movement. In other words, if within a short period a strong movement happened, we may expect its continuation in a medium-term period.

Strong price movement can lead to a trend development. As the "a strong movement" we may use the difference of MAs with different averaging periods. The stronger the movement, the larger is the lag of MA with larger averaging period from MA with a small period of averaging. Moreover, even strong discontinuous price movements with further return do not result in a large difference between MAs, i. For example, price jump by 50 points with further return in the center in Fig.

At the same time a really strong movement which is not usually accompanied by a considerable correction in point A resulted in the difference increase up to 25 - 30 points. If Buy order is opened when a certain value of difference between MAs is reached, for example in A, most probably the order will be profitable when a price reaches a preset Stop order value. Let's use this value as a trading criterion in our Expert Advisor.

In this example we analyze an Expert Advisor that admits presence of only one market order, pending orders are not provided. Such an approach is justified not only in this certain example, but can be used as the basis for any strategy. Pending orders are usually used when a developer has quite a reliable criterion for forecasting the future price change with high probability. If there is no such criterion, no need to use pending orders. The situation when several opposite orders for one security are open also cannot be considered reasonable.

It was written earlier that from economical point of view opposite orders are considered to be senseless, especially if the order prices are equal see Closing and Deleting Orders. In such a case we should close one order by another one and wait for a signal to open one market order in a certain direction. From this position it becomes clear what relations are possible between trading criteria.

Actions opening and closing market orders take place clockwise on the following pictures. Order opening and closing criteria correlation a and b - correct, c - incorrect. The most popular variant of a correctly formed trading criteria is the variant a. After being opened a market order Buy is held upon till the moment when criterion requiring its closing triggers. After that a pause occurs when no orders are opened. Further a market order Sell can be opened. Conditions for closing a Sell order in accordance with correctly formed criteria occur earlier, than conditions for opening a Buy order.

However, a Buy order can be opened once again, if a trading criterion requires this. But according to this variant a market order cannot be opened if there is an open market order in the contrary direction. Similar criteria correlation is in the variant b. The difference is that a criterion for opening any market order is at the same time a criterion for closing the opposite order. This variant like the variant a does not allow several orders opened in the terminal at the same time on one security.

The variant of criteria correlation is incorrect. According to this variant opening of a market order is allowed when contrary orders are not closed yet, which is senseless. There can be rare cases when this variant is partially justified. Opening of an opposite order is sometimes acceptable for compensating losses occurring at small corrections after strong price movements.

In such cases an opposite order can be opened of the same or smaller value than the already existing one and then closed when the correction is over. Such a tactic allows not to interfere with the "main" order opened in the trend direction. In general case several one-direction orders are also possible.

This may be justified when an earlier opened order is protected by a Stop order and the criterion pointing at the price development in the same direction triggered once again. However, when creating such a strategy, a developer must be fully aware that in case of a sharp price movement change the placed stop orders may be unexecuted by some brokers at the first price touch.

And the loss will be proportionate to the total value of one-directional market orders. In our example we use variant b of trading criteria correlation. All opened market orders are closed either by a stop order or after a criterion of opening an order in opposite direction triggers here criterion of closing Buy coincides with that of opening Sell and vice versa.

In any trading strategy order sizes should be reasonably limited. In a simple case a fixed order size is used in an Expert Advisor. Before EA operation start, a user can set any size of future orders and leave it unchanged for some time. Further if balance changes, a user can set up a new value of lot numbers of opened orders. A too small order size provides more confidence in operation at the unpredictable market change, but the profit in case of success will be not so large.

If the order size is too large, large profit can be acquired, but such an EA will be too risky. In this example both variants are implemented. A user may choose either to indicate directly values of orders or set the value in percentage from the free margin. A simple trend Expert Advisor tradingexpert. One more criterion in program estimation is its readability. A program is considered to be correctly written, if it can be easily read by other programmers, that's why all main program parts and main moments characterizing the strategy must be commented.

This is also why it is recommended to declare and comment all variables at the beginning of the program. According to rules, external and global variables must be opened before their first usage see Types of Variables , that's why they are declared in the program head part. All local variables of the function start are gathered and described in the upper function part block immediately after the function header.

Rules of declaring local variables do not require it, but also do not prohibit. If a programmer faces difficulties in understanding the meaning of a variable when reading the program, he can refer to the upper program part and find out the meaning and type of any variable.

It is very convenient in programming practice. In this example the preprocessing consists of two parts block The program terminates operation if there are not enough bars in a security window; in such a case it is impossible to detect correctly in block values of moving averages necessary for calculating criteria. Besides here the value of the variable Work is analyzed. In the normal EA operation the variable value is always 'true' it is set once during initialization.

If a critical error occurs in the program operation, 'false' is assigned to this variable and start finishes its operation. This value will not change in future, that is why the following code is not executed. In such a case the program operation must be stopped and the reason for the critical error must be detected if needed, a dealing center must be contacted. After the situation is solved, the program can be started once again, i. The described Expert Advisor allows working only with one market order.

The task of the orders accounting block block is to define characteristics of an opened order, if there is one. In each cycle iteration the next order is selected by the function OrderSelect. If the selection is executed successfully i.

In the line:. Operator 'continue' stops the iteration and characteristics of such an order are not processed. But if the order is opened for the security, to the window of which the EA is attached, it is further analyzed. If OrderType returns value more than 1 see Types of Trades , the selected order is a pending one. But in this Expert Advisor managing pending orders is not provided. It means the execution of start must be terminated, because a conflict situation occurred.

In such a case after a message about the operation termination start execution is stopped by the operator 'return'. If the last check showed that the analyzed order is a market order, the total number of orders for a security is calculated and analyzed. For the first of such orders all necessary characteristics are defined. If in the next iteration the order counter variable Total finds the second market order, the situation is also considered to be conflict, because the EA cannot manage more than one market order.

In such a case start execution is stopped after showing a corresponding message. As a result of the order accounting block execution if all checks were successful the variable Total preserves its zero value if there are no market orders, or gets the value 1 if there is a market order for our security. In the latter case some variables set in correspondence with the order characteristics number, type, opening price, stop levels and order value also get their values.

In the analyzed example definition of trading criteria block is calculated on the bases of difference between Moving Averages with different periods of averaging. According to accepted criteria a chart is bull-directed if the current value of the MA with smaller period is larger than the value of MA with larger period, and the difference between the values is larger than a certain value. In a bear movement MA with smaller period is lower than MA with larger period and the difference is also larger than a certain critical value.

The fact of significance of any trading criterion is expressed via the value of a corresponding variable.

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