Create Your Own Expert Advisor in MQL5 Wizard

MetaTrader 5 — Trading | 14 January 2011, 17:52

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The knowledge of programming languages is no longer a prerequisite for creating trading robots. Earlier lack of programming skills was an impassable obstacle to the implementation of one's own trading strategies, but with the emergence of the MQL5 Wizard, the situation radically changed. Novice traders can stop worrying because of the lack of programming experience - with the new Wizard, which allows you to generate Expert Advisor code, it is not necessary. The program will do all the work itself.

Virtually every Expert Advisor consists of three independent modules - signals, money management and trailing stop. And because the modules can be implemented in various ways, there are a lot of possible combinations of Expert Advisors. Thus, you can construct an EA to your liking. You only need to specify the desired parameters and select the necessary components - and the MQL5 Wizard will do the rest. The creation of trading robots has never been so quick and simple. Only four clicks - and the Expert Advisor trading according to your strategy is ready!

Create Your Own Expert Advisor in MQL5 Wizard

To what trading signals will your EA respond? What money management system will it use? How will the trailing stop be implemented? Answering to these questions, it is easy to get a ready Expert Advisor. After compilation, you only need to test the Expert Advisor that you have built of blocks, and then optimize it by choosing the best parameters. After all these steps, you will get a workable EA, completely ready to trade. It will trade in accordance with the algorithms of trading signals, money management and trailing stop chosen in the Wizard.

Create Your Own Expert Advisor in MQL5 Wizard

The set of parameters and algorithms of the MQL5 Wizard will be expanded over time. You will have access to a wider range of possibilities and different combinations of Expert Advisors, from which you will be able to choose the one that suites your trading activities. However, even now it's difficult to overestimate the importance of this Wizard for the traders who don't have programming skills. It allows you to greatly simplify the process of trading robot development, creating different EA modules for you. A complete set of working tools for automated trading is now available not only to MQL-developers, but also to ordinary traders. Download the MetaTrader 5 terminal and see it for yourself.

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Translated from Russian by MetaQuotes Ltd.
Original article: https://www.mql5.com/ru/articles/240

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Last comments | Go to discussion (7)

gizbar_g | 25 Jun 2011 at 01:28

The article is a very significant instruction on the way how to develop more advanced experts with ease.

However, I'm having trouble replacing built-in signalindicators with my custom indicator.

The generator recognizes my indicator but the expert refuses to work.

Is there an article/post on how to do it properly?

hemmanuel | 20 Mar 2016 at 23:28

Does this even work ? I have tried several tutorials for MQL5 Wizards and none of them places any trades in strategy tester ?

Chris Mukengeshayi | 23 Oct 2017 at 20:33

Very helpful, is there a way or a system that can convert an MT5 EA into an MT4 EA ?

How does one add/create an MT5 mqh file of let say SignalIchimoku or any indicator and place it in include\expert\signal ?

farhadmax | 10 Jul 2023 at 18:39

gizbar_g #:

The article is a very significant instruction on the way how to develop more advanced experts with ease.

However, I'm having trouble replacing built-in signalindicators with my custom indicator.

The generator recognizes my indicator but the expert refuses to work.

Is there an article/post on how to do it properly?

I know that my answer is a little bit late, but for new people:

in order to be able to use your own custom indicator inside signal modules, your indicator should extend CIndicator class.

Levi Nwodo | 11 Jul 2023 at 20:20

I have an issue with my developed ea I need help on it. No errors. Runs on testing but trade was not placing. Please helping hand

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