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Free EA Builder – EA Builder Review

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.

 

 



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