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How to Build Custom Indicator through EA Builder

February 28, 2018 admin 0

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: 1,727