In early 2011, we released an exciting tool for EA development, intended for all traders who have no MQL5 programming skills. With the emergence of the MQL5 Wizard in the
MetaEditor, traders have received a convenient resource for developing
Expert Advisors without programmers' help. Many traders have already
appreciated the possibility to create an EA in just four clicks with the
Wizard and compiled their first EAs.
However, the functionality of the first MQL5 Wizard could seem
incomplete to the most demanding traders. Therefore, we decided to
enhance the features of the MQL5 Wizard by adding new
functions allowing to create more flexible Expert Advisors. Ultimately
this will increase the number and variety of Expert
created using the Wizard. Soon more new features will be introduced in
the MQL5 Wizard
to make it even more useful for everyone who wants to create custom
The main feature of the new version is the ability to
utilize data of a combination of algorithms. In the previous version, an
Expert Advisor could be created on the basis of only one algorithm of
signal generation - for example, using the indicator data or the MA
crossing algorithm. The new version offers a new convenient way to
use a combination of algorithms for generating more accurate signals.
For example, you can easily generate an Expert Advisor that will use
data of MA crossing confirmed by a trend indicator like Parabolic SAR.
Another important innovation will be the system for assigning weights
to each signal. For example, you can assign 1 to the signal produced by
MA crossing, if this is the main signal, and 2 to
the Parabolic SAR - in this case the Expert Advisor will first of all
use the data of the signal with a higher weight when taking a trade
The emergence of the upgraded MQL5 Wizard significantly
enhances trading opportunities. Now, in addition to the conventional
manual trading, any trader can create Expert Advisors and use them in
automated trading. You do not need to order the development of EAs from
professional programmers any more - with the MQL5 Wizard you can easily
create your own trading robots.