Expert Advisors, need tips.

New comment
 

Hello everyone.

I am new with programming Expert Advisors (EA), in my research I found that in Meta Editor there is a wizard function, which allow the user to create an EA with some predefined parameters, with this some questions came up to my mind.

-Wizard's EA compile perfectly once the parameters are set and I can backtest them right away, but are this wizard EA really ready as they are or do I need to add something extra (commands, functions, filters, etc.)?

-Is better to create an EA based on my strategy or can I give a try to the wizard?

Thanks.

 
Hermes Hernández:

Hello everyone.

I am new with programming Expert Advisors (EA), in my research I found that in Meta Editor there is a wizard function, which allow the user to create an EA with some predefined parameters, with this some questions came up to my mind.

-Wizard's EA compile perfectly once the parameters are set and I can backtest them right away, but are this wizard EA really ready as they are or do I need to add something extra (commands, functions, filters, etc.)?

-Is better to create an EA based on my strategy or can I give a try to the wizard?

Thanks.

Hi, mql5 wizard is a good start, if you want to move further I recommend you look at the codes from other programmers and try it in practice.
It helped me a lot at the beginning to understand the principles and functioning of MQL5 as such language.


Link to EA code base: https://www.mql5.com/en/code/mt5/experts

I wish you good luck. :)

 
Hermes Hernández:

Hello everyone.

I am new with programming Expert Advisors (EA), in my research I found that in Meta Editor there is a wizard function, which allow the user to create an EA with some predefined parameters, with this some questions came up to my mind.

-Wizard's EA compile perfectly once the parameters are set and I can backtest them right away, but are this wizard EA really ready as they are or do I need to add something extra (commands, functions, filters, etc.)?

-Is better to create an EA based on my strategy or can I give a try to the wizard?

Thanks.

The EAs created by the wizard operate mainly by certain indicators available in Mql5 by default 

If your strategy needs extra instructions based on other stuffs apart from the indicators or you need an indicator out of the ones available by default, you'll need to code for that on your own

Coding on your own from scratch also aids in addressing errors and adjusting the way the EA operates as you know your EA from A to Z

I hope this answers the question, if not, please feel free to reply to my comment 
 
Hermes Hernández:



The MQL5 Wizard is a good starting point for learning, but it has limitations:

When the Wizard is enough:

- Simple indicator-based strategies (MA cross, RSI overbought/oversold)

- Quick prototyping to test an idea

- Learning how EA structure works

When you need custom code:

- Multi-timeframe analysis (e.g., H4 trend + M15 entry)

- Custom money management (Kelly criterion, fixed risk %)

- Complex entry conditions (multiple indicators with specific logic)

- Trailing stops, partial closes, break-even logic

- Session filters (only trade during London/NY)

- Any strategy that requires market context beyond single indicator signals

My recommendation:

Start with the Wizard to understand the structure. Then open the generated code and study it. You'll see how OnInit(), OnTick(), and the trade execution work.

Once you understand the basics, write your next EA from scratch using CTrade class. It's cleaner than what the Wizard generates and you'll understand every line.

The learning curve is worth it — custom EAs give you full control over execution, error handling, and optimization.

What strategy are you trying to implement? I can point you to specific resources.

 
I will advice learning how to code first (mql5/mql4) and then using wizard, for me it's better, I always try to the make code more human based as possible, since you are the one that is using it!
 
Welcome to EA development 
The MetaEditor Wizard is a good starting point, especially for beginners. It generates a fully functional EA structure that can be compiled and tested immediately. So technically, yes — it is “ready” to run.
However, the Wizard mainly creates a framework based on predefined signal modules (indicators, trailing, money management). It does not automatically make the strategy profitable. In most cases, you will still need to:
Add custom logic specific to your trading idea
Improve risk management rules
Add filters (spread, time, volatility, news, etc.)
Optimize entry and exit conditions
If your goal is learning and experimentation, the Wizard is a great tool because it helps you understand the EA structure without writing everything from scratch.
But if you already have a well-defined trading strategy, building a custom EA based directly on your logic is usually better. It gives you full control and avoids unnecessary generated code.
In short:
Use the Wizard to learn and prototype.
Build custom code for serious strategy development.
New comment