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MQL5 Wizard : All problems about creating expert advisors without programming

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Chang Suk Chung
Chang Suk Chung  

I think there are many problems in order to make our own expert advisors without programming using MQL5 Wizard.

-  how to set profittable ea

-  what are proper stoploss and takeprofit pips?

-  how to shorten the time of optimization

-  how to set weigts of each trading signal

-  what is a believable strategy test?

-  which is the more important trading signals, indicators or occilators? etc.

Let's discuss the above things to develop a our own profittable expert advisor.

Sergey Golubev
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2016.06.01 13:15

I collected the article here for someone who does not have programming knowledge to create their EAs and indicators and want to create EAs and indicators. So, we can use MQL5 Wizard for that.


In the beginning -please read this introduction article which is having many usefull links to the other useful sources, I mean - this is the key article for the traders who are going to use Metatrader 5 for example:

MetaTrader 5 - More Than You Can Imagine!
"The development of MetaTrader 5 started in 2007. MetaTrader 5 was conceived as a revolutionary, multi-market platform that can run on Forex as well as on any other financial market. A lot of work has been done since then, and the result of this work is the platform that provides unlimited opportunities to traders. In this article, we will talk about all the key features of MetaTrader 5 and carry out a comparative analysis with the previous version of the trading platform."


MQL5 Wizard article about HowTo create EAs and indicators in very quick way:

MQL5 Wizard: New Version
"In this article we describe new possibilities of the MQL5 Wizard and explain the changes in the architecture of Expert Advisors generated using this application."

MQL5 Wizard for Dummies
"In the new version of the Wizard we have expanded the functionality of the program. Now it enables you to create Expert Advisors based on a combination of several signals. This innovation allows the use of sophisticated analysis in an Expert Advisor to get detailed accurate signals. Nevertheless, this innovation does not complicate the process of generating an EA. It still implies a step-by-step selection of required parameters as a base for EA construction."

Create Your Own Trading Robot in 6 Steps!
"The world around us is changing rapidly, and we try to keep up with it. We do not have time to learn something new, and this is a normal attitude of a normal human being. Traders are people just like everyone else, they want to get maximum results for the minimum of effort. Specially for traders, MetaEditor 5 offers a wonderful MQL5 Wizard. There are several articles describing how to create an automated trading system using the wizard, including a "light version" MQL5 Wizard for Dummies and a "version from developers " - MQL5 Wizard: New Version."

MQL5: Create Your Own Indicator
"Despite the fact that there are a lot of ready indicators, which have become classics already, the necessity to create one's own indicators will always exist. Such indicators that we create using our own algorithms are called custom indicators. In this article we will discuss how to create a simple custom indicator."

Create Your Own Expert Advisor in MQL5 Wizard
"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."

MQL5 Wizard: Creating Expert Advisors without Programming
"In this article we will consider automatic generation of Expert Advisor's source code using MQL5 Wizard. And there will be nothing to program!"

Step-By-Step Guide to writing an Expert Advisor in MQL5 for Beginners
"This article is aimed at beginners who wish to learn how to write simple Expert Advisors in the new MQL5 language. We will begin first by defining what we want our EA (Expert advisor) to do, and then move on to how we want the EA to do it."

MQL5 Wizard: How to Create a Module of Trailing of Open Positions

"This article describes the principles of writing modules of trailing open position for their further use in the MQL5 Wizard."

MQL5 Wizard: How to Create a Risk and Money Management Module

"MetaTrader 5 provides a powerful tool that allows you to quickly check various trading ideas. This is generation of Expert Advisors using the MQL5 Wizard on the basis of ready trading strategies."

MQL5 Wizard: Placing Orders, Stop-Losses and Take Profits on Calculated Prices. Standard Library Extension

"The MQL5 Standard Library is a useful aid in developing large projects that require a strict architecture. The MQL5 Wizard allows assembling ready made parts into an extensive scheme in the dialog mode within a few minutes, which cannot be overestimated. The MQL5 Wizard automates gathering all parts of the Expert together and automatically declares module parameters in the Expert according to their handles. When there is a great number of various modules involved, such automation saves a lot of time and routine operations."

MQL5 Wizard: How to Teach an EA to Open Pending Orders at Any Price

"An Expert Advisor generated using the MQL5 Wizard can only open pending orders at the fixed distance from the current price. This means that if the market situation changes (e.g. a change in market volatility), the Expert Advisor will have to be run again with new parameters."


This is the interesting article which can be useful just in case we want to combine some indicators onto one indicator for example:

How to Write an Indicator on the Basis of Another Indicator
"In MQL5 besides creation a new custom indicator from a scratch as described in the "MQL5: Create Your Own Indicator" article, you can write one on the basis of another indicator, in-built in the client terminal or a custom one. There are two ways: first is to improve an indicator, add new calculations and plots (this variant applies only to the custom indicators that have open source code), second way is to use an indicator in-built in the terminal or to use an existing custom indicator via the iCustom() or IndicatorCreate() functions."

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