EA Builder Custom Indicator – How to build custom Indicator through Free EA Builder Many newbies are asking me if whether could build own custom indicator fast without any MQL4 programming language. Yes. This is the solution. You could use knowledge of this post to create your own custom indicator through a FREE EA Builder. I assumed that you have known what is indicator. Indicator is a group of values to be drawn as Line or Objects (Arrows) to be shown in the chart. This post I will teach you Introduction to Free EA Builder to build custom indicator What is supported in the EA Builder to build the custom indicator How to build the custom indicator using this EA Builder Introduction to Free EA Builder to build custom indicator The free EA builder I could recommend is www.EABuilder.com This site provides free access and building of custom indicator through the their EA Builder. Nevertheless, you need to sign-up free at this site in order to build the custom indicator and download the source. After you have signed up, just log in . You will be brought to the screenshot above. This is the place you pull in your condition on when to draw the indicator. I will rate this site as below for the feature to create custom indicator through EA Builder User Friendliness Consider I am new in EA builder, I would rate this 4 stars out of 5 stars. It is quite easy to click on the criteria, smoother than other web EA builder. The page will not keep on refresh like the other. It is quite intuitive to be used. Strategy supports The supported condition is quite completed. In fact, is the most complete conditions that I have come across. I will rate this 4 stars out of 5. I will describe the supported strategy / conditions in here in this post. The reason i rate it 4 out of 5 due to the it supports the condition by doing comparison between two values, i.e. indicators value / trend line value / candlestick price value. If I want to build indicators like pivot points ? Then this EA Builder couldn’t do so. That is why i rate it as 4. However, it is suitable to used as beginner who want to build simple indicator. This is the most easiest and robust EA Builder site that you could try. What is supported in the EA Builder to build the custom indicator This EA Builder supports quite a complete list of conditions. It is the most complete indicator EA builder that i have come across. I breakdown the conditions supported as below Indicators Price Comparison (Accelerator Oscillator, Accumulation/Distribution, Alligator, Average Directional Movement, Average True Range, Awesome Oscillator, Bear power, Bollinger bands, Bulls power, Commodity Channel Index, Demarker, Envelopes, Force Index, Fractals, Gator Oscillator, Ichimoku Kinko Hyo, MACD, Market Facilitation Index, Momentum, Money Flow Index, Moving Average, Moving Average of Oscillator, On Balance Volume, Parabolic SAR, Relative Strength Index, Relative Vigor Index, Standard Deviation, Volumes, and William’s Percent Range Price Bid, Ask Candlestick All timeframes (From 1 minute to 1 month), current timeframe Number of the candlestick (current, previous .. until last 20th bar) Open , High, Low, Close, Body Length Custom Code You can write own custom code on in what condition the indicator should show However, this need the knowledge of MQL4 programming knowledge Trendline A new feature from the EABuilder to test on the up trendline or down trendline S/R A new feature supported by the EABuilder to test on the support and resistance value based on different time interval Extra features to be added on top of the indicators Draw on separate window Show up alert When indicator pains Show alert Print out to Journal Send email Print to file Send notification The most important is, this free version is able to download the source code without any fee. How to build the custom indicator using this EA Builder As long as you know your custom indicator condition, then you could select the condition at the indicator condition page to build your condition. There are two tips for you before you build your indicator You should know when you need the indicator to be shown . Or in other word, your condition is used to check whether the indicator should be drawn on the chart. Each indicator is checked on each of the bar itself. This is where you design your condition Example on the condition: At current bar , time 10:00, Ask price is larger than 5 moving average. If the condition is true, draw the indicator. You should know where you need to the indicator to be drawn. This means what is the price the indicator should be drawn at the particular bar. Example: when my condition check is true on point 1, the Ask price is larger than 5 moving average, I want to draw the indicator at the Bid price of the indicator. So, you need to be clear on the concepts above when want to draw indicator. After you construct your idea, then you can populate it through the EA Builder I constructed mine condition (point 1) and the price (point 2) as below: Then move to download page, you could generate and download your source file here. The video will show you how to create the custom indicator live through EA Builder. Access EABuilder.com here to build your FREE custom Indicator. I hope you have learned how to build the custom indicator through Free EA Builder. Hope this will bring you the knowledge in how to build the custom indicator. Follow us for more new upcoming tutorial and updates. Post Views: 4,256
How to install EA .mq4 in Metatrader 4 | How to use MQ4 in MT4 This post is to teach you how to install .mq4 file into metatrader 4. You might obtain the .mq4 from the following method: You get a free EA robot from the web You get the EA from EA builder You copy from someone You build you own Expert advisor through Metaeditor However, as the beginner of EA robot user, you do not know. This post is designed for you to learn Step1 : Where to place the .mq4 file into the local machine Step2 : How to compile the .mq4 file into .ex4 file Step3 : How to run the EA Step4 : How to test the EA Where to place the .mq4 file into the local machine These are the step how where to place the .mq4 file to the local Metatrader 4 Be ready on your .mq4 file, you know where you have downloaded your .mq4 file from Find out the location of the installed MQL4 path *Note that: the MQL4 path might be different from the Metrader 4 path that you have installed. Normally people will confuse on the location where to find the path. The only solution is this. Go to Metatrader 4 > Click on MetaQuotes Language Editor At the MetaEditor, Navigator > Expert > Simply choose a file, right click the file and choose Open Folder A dialog window will be popup up. Record the path on the Location. I.e.C:\Users\lutherthan\AppData\Roaming\MetaQuotes\Terminal\50CA3DFB510CC5A8F28B48D1BF2A5702\MQL4\ExpertsORC:\Program Files (x86)\MetaTrader 4\MQL4\Experts\ Open the recorded file path above Paste the .mq4 file into this folder. Note that it has to be “Experts” folder . Experts folder is meant for EA robot. Do not paste into other folder . Return to MetaEditor Right click on the Experts folder > Refresh Check on the file that you have pasted if it is shown in the navigator How to compile the .mq4 file into .ex4 file You already in the midway of running the EA robot. Now this is the time to build the .mq4 to .ex4 file. .ex4 file is a binary file that is understood by Metatrader 4. So you need to compile the .mq4 file through MetaEditor. Below is the step. Double click the pasted EA .mq4 file in Navigator > Experts (We are in Metaeditor still) Click the button “Compile” at the toolbar Ensure it is error free – 0 Errors. Note that if you have errors, this means your compilation fails. You need to contact the .mq4 source again to get a correct .mq4 source file. How to run the EA Ok. Now you are ready to run your EA in the Metatrader 4. Go back to Metatrader 4 Go to Navigator on the left panel Go to Expert Advisors Ensure your EA that you have compiled (same name with the file name) exists in the Navigator > Expert folder Double click on on the EA or drag the EA into the chart and timeframe that you want to trade At the dialog, “common” tab, check / tick on the “Allow live trading”. This is to allow the EA robot to trade for you. Note that, if you not click this, the robot will not trade for you. This is the security feature provided by MT4. Then click OK on the pop up dialog Next ensure the Autotrading button is enabled. Screenshot below is disabled . Click on the button to enable it. With this is turned on, your EA is now running. Another indicator to prove the EA has been successfully loaded into Metatrader 4 is that you could see a smiley face 🙂 on the top right of the symbol. This shows the EA is running. However, if your EA is in sad face 🙁 This means something go wrongs to your EA. Check on the previous few steps again. You will get a smiley 🙂 face very soon. How to test the EA To test your EA, you should have all the steps above , which is the EA is compiled successfully. You could follow the steps on strategy tester to fully test on your EA. Thank you for reading. I hope you learn something from this post. ~
Free EA Builder I am going to review free EA builder. Out of so many available free EA builder in the market, from my experience of writing EA robot, as beginner of building EA, you could try on this free EA builder. In this post, I am going to review on http://www.forexeadvisor.com/ Typically i would rate this Free EA Builder as below User Friendliness Consder I am new in EA builder, I would rate this 4 stars out of 5 stars. It is easier to understand and use the web interface to generate criteria that i want. Strategy supports The strategies that are supported by is creating trade strategy on buy, sell, close buy and close sell. The supported indicators lists is almost complete. Nevertheless, this is suitable for basic EA building, not for complex EA. These are the following contents that you will learn throughout this articles What could this EA Builder do What couldn’t this EA Builder do How to use this EA Builder to build your EA What could this Free EA Builder do This EA Builder supports a variety of features as below Able to create buy , sell trades strategy condition Able to create closing trades for buy and sell strategy condition Able to set single lot size Able to set take profit pips and stop loss pips You can compare Ask, Bid, Close, High, Open, Low, Value, Hour, Minute You can compare indicator: Accelerator/Decelereator (AC), Accumulation/Distribution (AD), Movement directional Index (ADX), Aligator, Awesome oscillator (ATR), Bollinger bands, Bears power, Bulls power, Bill Williams Market Facilitation Index (BWMFI), Commodity Channel Index (CCI), Demarket, Envelopes, Force index, Fratals, Moving average, MACD, Money Flow index (MFI), Momentum, On Balance Volume (OBV), Relative Strengh Index (RSI), Parabolic Stop and Reverse (SAR), Standard Deviation, Stochastic, William’s precent range (WPR) You can create multiple condition check through AND and OR operation You can create price check / indicator price check through > (large than) and < (smaller than) and equal operator What couldn’t this EA Builder do However, this EA builder is only limited to certain feature, there are limitation as below This EA builder only support general stop loss and take profits pips. For example, if you have 10 trades, then you have all the same stop loss of 10 pips and take profit of 20 pips, given you set the stop loss and take profit pips to 10 and 20 pips respectively. Single lot size for all trades. You couldn’t change the lot size . It is fixed. The operator is limited to just > (larger than) , < (smaller than) and equal operator. There are more that you will need, for example >= (larger and equal), <= (smaller and equal) Although the multiple condition check could be checked through AND and OR , but there are mode details operation could do through criteria check. Most of the EA Builder couldn’t do this. You could either create the EA yourself through learning MQL4 language or hire an expert programmer. How to use this EA Builder to build your EA Let me show you how to build the EA through this EA builder as an example How to install the downloaded EA in Metatrader 4 Next you are ready to install the downloaded EA in your Metatrader 4. You could follow this step by step to install your EA in the metatrader. ~I hope you learn the knowledge and solve your problem. Follow us for more incoming new tips. Thank you for reading and happy learning.
EA Builder is a piece of PC (Computer) software or a web-based application that would help a trader to build EA Expert Advisor for robot trading in MT4, without any knowledge of MQL4 programming language. For a newbie that would want to try out to build EA, then I advise you can try to use EA Builder to build your first EA. There are several of EA Builder softwares are available in the market, few of them are free, and some are premiums. I will review (coming soon) on the EA Builder in separate posts. In this article, I will describe on EA Builders in details as below What is EA Builder Compare EA Builder with professional EA programmer Is EA Builder secure? Can owner of EA Builder know my trade secret ? What is the benefit of EA Builder What is the limitation of EA Builder What is EA Builder? EA builder is a piece of software codes that is written to help build EA robot file (.mq4) without programming knowledge. There are two types of EA builder in the market PC version of EA Builder (in Windows OS or in Macintosh OS) Web version of EA Builder Either is PC Version of Web version of EA Builder will generate .mq4 file to be used in the MT4. I will teach you in another post in how to use the .MQ4 in MT4 (coming soon). For PC Version of EA Builder, you are needed to download and install the EA Builder software in your PC. It depends on the software provider if it supports in Windows OS or Macintosh OS. For Web Version, you are just needed to open a web browser like Chrome / Safari or Mozilla Firefox to build the EA robot from the Web interface. For most of the EA builder that I used, the criteria are set through user interfaces provided by the EA Build. The problem is how user friendly the user interface is, whether easy to be used or need a list of tutorials to learn before master it. Compare EA Builder with professional EA programmer with learning MQL4 programming When you want to build a EA, there are 3 ways. Hire a professional EA programmer Use a EA builder to help you Learn the MQL4 programming and build EA yourself Question is how which is most suitable for you? It depends on your budget, your patients and your complexity of EA that you want to build. These are my suggestions Hire professional EA Programmer If you need to build the EA in short time, for example few days or in one week, If you have enough budget If you do not have patience to build your own robot If you have a high complexity Robot that you want to build If you have no programming logic and weak in mathematic I suggest you go ahead to hire an EA programmer expert Use a EA Builder If your EA is simple and not too complex If you want to build EA without spend time to learn MQL4 Programming If you are good in logic I suggest you go ahead with EA Builder Learn MQL4 Programming If you have patience to learn MQL4 programming knowledge If you have complex EA robot to build If you are good in logic I suggest you learn MQL4 programming Is EA Builder secure? Can owner of EA Builder know my trade secret ? It depends on the nature of EA builder where it is built – whether it is web version or PC version. For PC version, I would say it is pretty safe to use it and your trade secret will not be copied. On the other hand, if is web version of EA builder, there is a possibility that a copy of your EA robot will be copied in the server. Therefore, it is important to choose an reliable EA builder service provider. What is the benefit of EA Builder The main advantages of using EA builder is to fasten the process of EA (Expert Advisor) Robot building. You can build EA / Robot without any knowledge of MQL4. By choosing the correct criteria, trade settings, you can build EA in few clicks. In prior to that you must know your trade criteria then only could use the EA builder. I am covering the method how to build a robot through EA builder this in this topic(coming soon). What is the limitation of EA Builder There are still limitations on building robot through EA builder. There are as below: EA builder features depends on the service providers. Most of the EA builder service providers are just could compare basic logics/ indicators/ price. EA builder couldn’t create complicated robot criteria that needs deeper calculations Next, I’ll talk about how to create your EA / Expert Advisor through the free EA builder Free EA Builer Review