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How to Write an Expert Advisor or an Indicator

MQL4 Source Codes of Expert Advisors for MetaTrader 4

Various applications to automate analysis and trading are available in the 'Expert Advisors' section. It features various applications based on different trading algorithms and provides different degrees of automation. You can find simple EAs and complex trading robots that can fully automate analysis and trading processes.

These applications can be downloaded and run in MetaTrader 4. It is recommended to test and optimize Expert Advisors in the Strategy tester. The Expert Advisors from the library can be accessed from the MetaTrader 4 platform and the MetaEditor development environment.


The EA searches the last upper and lower fractals and opens positions when the price exceeds these levels.

One of the implementation variants of the Quantum trading system.

The EA opens trades at the intersection of the fast and the slow MAs. It has the function of outstaying the losses.

The EA closes orders when certain loss is reached by them in the account currency. It is possible to vary the loss by the volume of the order.

Trading robot based on the theorem "On the presence of memory (aftereffects) in random sequences".

A simple Expert Advisor, which works without the use of any indicators. Enters at trend reversal attempt.

The Heiken Ashi Naive Expert Advisor is based on the Heiken Ashi candle chart system and uses the standard indicator of the same name.

The Expert Advisor is based on the exponential moving averages of the same period.

The Expert Advisor is based on the operation of its predecessor — Forex Fraus (for M1), but using the Envelopes indicator.

The Expert Advisor is based on the lot management according to the Labouchere system.

The Expert Advisor trades by breakout of High or Low of the previous candlestick.

The Expert Advisor uses moving averages, based on the opening and closing prices.

The Random EA, which operates by the principle of a coin flip.

The Expert Advisor opens an order by the trading strategy, places a take profit and a stop loss It protects the position by moving the stop loss to breakeven, and maintains it with a trailing stop.

The calculation of profit/loss in the deposit currency at the desired symbol price level on all open orders.

Arrangement of the pending orders at equal intervals (steps).

The Moving Average indicator data is used for trading. If the price goes away from the Moving Average by a certain number of points, then an order is placed in the direction of the Moving Average line.

RSI Bollinger Bands are used to establish overbought and oversold RSI regions for generation of short and long trading signals.

Trades on price spikes around important financial announcements.

This code has some functions to close all opened orders once the drawdown reaches a specific percentage of the account balance.

Easy EA for closing positions with profit or loss. All positions of chart's symbol are counted separately.

The Expert Advisor moves the Stop Loss in the direction of the price movement using various methods.

This Expert Advisor uses three indicators: MA(150), RSI(3) with the levels of 80 and 20, Stochastic(6, 3, 3) with the levels of 70 and 30. The direction of opening deals is based on MA. Entry by RSI and Stochastic. Exit by Stochastic.

The Expert Advisor reverses the orders after closing.

Opens orders using the martingale and a virtual trailing stop.

Implementation of a trading system based on divergence detection.

The Expert Advisor trades based on the support/resistance levels set by the user, while trailing the Stop Loss order.

The Expert Advisor places a grid of pending orders in both directions several minutes before the specified time and trails the Stop Loss order after the orders trigger.

The Expert Advisor is based on the "On the MaZi" strategy.

The idea behind the Expert Advisor is based on the volatility explosion in the pulse waves.

The Expert Advisor based on the "New Trading Dimensions" book by Bill Williams.

The virtual trailing stop can place stop loss, take profit and trail the order in a way that they are not visible to the broker.

Simple Expert Advisor based on the RSI indicator.

A trend strategy based on moving averages with colors as in a traffic light. The purpose of writing the EA — to test the strategy on history and pick working parameters.

The Expert Advisor watches the market orders and generates a sound signal after a predefined time from the moment of order opening.

Elementary trailing stop able to distinguish its "own" orders among others by comment and/or Magic number. It also distinguishes the financial instrument that needs to be trailed.

The Expert Advisor is based on the Williams Percent Range indicator. It sells in the overbought zone and buys in the oversold zone. Trailing Stop and operation timer are attached to it.

The Moving Average indicator values are used for trading.

This EA implements a grid strategy by placing buy and sell orders at the same time.

EA opens trades from support and resistance levels, which were set by a trader, and revolves them at another levels.