How to Create Trading Robots with Forex EA Generator
Forex EA generator can create amazing money-making robots for you without requiring any programming skills or other technical skills. We call it Forex Robot Factory which is a very easy to use Expert Advisor generator. You can easily develop an application that automatically makes trades on your behalf. In this article, we’ll talk about how to create trading robots with the forex EA generator from Forex Robot Academy.
What is Forex Expert Advisor Generator?
A forex expert advisor generator is an online-based application that can help you in creating profitable automated trading strategies without a single line of code.
Instead of using an EA builder or hiring a programmer to develop a robot, the expert advisor generator eliminates the time consuming and often difficult process of creating an EA and automates the entire process for you.
With this online-based tool, you can develop reliable robots and deploy them both to the MetaTrader 4 and MetaTrader 5 trading platforms.
You do not need to be a programmer or possess some genius technical skills to start using this forex strategy generator.
You only need to choose what indicators you want to use, input few simple trading criteria into the robot generator, and the rest of the magic will be automatically completed for you.
The tool will automatically create an EA and backtest its profitability using its in-built platform features.
Since the backtesting results are provided real-time, you can modify your trade entry and exit rules until you come up with a strategy that best fulfills your needs.
Here are the core components of the Forex Robot Factory EA generator.
- Generator: This component automatically creates and backtests the provided strategies. You can also use the Reactor mode to automate the entire EA creation process.
- Collection: This component stores the generated strategies, allowing you to sort them according to their profitability as well as other parameters.
- Editor: This component enables you to create and edit strategies before exporting them as MQL files. You can backtest your trading rules against historical data in seconds and sufficiently refine them before using them for live trading.
- Optimization tools: The EA generator has various tools for optimization of trading rules against a wide range of trading conditions.
- Validation tools: These include stress tester (Monte Carlo), multi-market tester, and anti-curve-fit tester (IS/OOS).
- Report: This section gives comprehensive details about each strategy’s testing results.
- Exporter: This feature allows you to conveniently export the created EA to your MetaTrader platform.
- Reactor: This is one of the best components of the Forex Robot Factory. The Reactor is a new and easy way to automate the workflow of trading strategy programming, backtesting, optimizing and stress testing to find your best Forex Robots today.
What is a Forex Robot?
A Forex Robot also referred to as an Expert Advisor, refers to a software with inbuilt trading rules that automatically determine when to enter or exit the market.
Automated trading systems are ideal for overcoming the disadvantages of manual trading and providing you with a profitable method of earning massive profits from the forex market.
With expert advisors, you can trade non-stop, eliminate emotion-based trading decisions, and greatly reduce trading errors.
If you still rely on the traditional manual trading methods, you are prone to making greed-driven trading decisions, making silly trading mistakes due to fatigue, and increasing your losses due to ill-timed decisions.
Manual trading typically glues you to the computer screen; otherwise, you’ll miss those ripe trading opportunities.
On the other hand, robot trading eliminates that need and provides you with the freedom you need to effortlessly earn massive profits from forex trading.
After you’ve put your strategies into a robot, your trades will be automatically executed without your direct intervention.
Furthermore, you can program multiple strategies into expert advisors and greatly increase your profits, something difficult to achieve with manual trading.
Create Expert Advisor Without Programming
For a long time, creating an expert advisor for MetaTrader 4 required that you have advanced programming skills and other technical skills.
However, presently, it’s possible to create expert advisor without programming skills or hiring the services of a programmer.
By using the forex robot generator, you can create profitable expert advisors without ever worrying about any line of code.
With the EA generator such as Forex Robot Factory, you can transform any manual trading system into an expert advisor without writing complicated codes.
Expert advisor programming, just like most programming languages, is difficult to master.
You may need to spend lots of money and invest a lot of your time learning how to create forex robots that work.
However, the expert advisor builder and generator saves you the money and the hard work and provides you with an intuitive platform to create an expert advisor without programming.
You’ll just need to select which currency and time frame you want to trade and hit the START button. The rest will be automatically completed for you.
The expert advisor generator for MT4 and MT5 is what you need to enjoy the benefits of robot trading.
After creating your expert advisor for MetaTrader 4 or 5, you’ll also get backtested results, which allow you to gauge the profitability of your automated trading systems.
This way, you can conveniently fine tune it until you generate an EA that can deliver maximum profits from your efforts.
Forex Expert Advisor Generator
As earlier mentioned, the forex robot generator allows you to automatically create money-making robots against the defined parameters.
Here’s a simple step by step process of how to create forex robots using the Forex Robot Academy online-based tool:
Step 1: Define parameters of your trading strategy
First, you need to define parameters of a trading strategy to entrench into the robot. You can try your strategy under simulated forex trading conditions to ensure it works according to your preferences.
Step 2: Input strategy parameters
Under the Generator tab, set the data source, currency pair symbol, and your preferred trading period.
Next, define your strategy properties. You’ll set entry lots, stop loss, pips, and take profit parameters.
Specify, the other Generator settings.
Click “Start” button.
Thereafter, the Generator will automatically create the strategy for you.
In addition, the Generator will backtest the created strategies by utilizing advanced criteria and displaying the tested results.
Then, click the “Stop” button.
Step 3: Sort the generated strategies
The Collection section stores all the generated trading strategies. Here, you can sort the strategies using the available statistical parameters.
Step 4: Edit the strategies
You can use the Editor to create and refine your strategies through utilizing indicators and other parameters.
With the editing tool, you can easily review your strategies before exporting them as MQL files.
When editing your strategies, the tool will perform a backtest against historical data, allowing you to determine if you are on the right track.
Step 5: Optimize the robot
The MT4 EA generator has various tools to optimize your trading strategy and also validate it on a wide range of trading conditions.
For example, you can use the stress tester and the multi-market tester to gauge the robustness of your trading strategies against different market conditions.
When optimizing your strategy, remember to check the backtest results to ensure they are satisfying.
Step 6: Examine the Report
Check the Report page for comprehensive information about the performance of your strategy against historical data. The page also has statistics information, an indicator chart, and other useful information.
If the backtest results are not satisfying, it could mean that you need to refine your strategy further or just generate a new collection of robots to find better ones. It takes several minutes anyway.
Step 7: Export the robot
After creating the robot, you can export it to your MT4 or MT5 trading platform. Since the created EA is based on standard MetaTrader indicators, using it on the platform is easy and convenient.
It’s important to test the performance of the exported expert advisor in simulated forex trading conditions before launching it for live trading.
This way, you can verify its profitability and make any changes, if necessary.
Forex Robots that Work
Using the forex strategy generator is the surefire method of generating expert advisors that work.
Presently, the Internet is clouded with several types of robots falsely promising quick and huge gains.
In most cases, these robots are only meant to swindle money from unsuspecting users. Before purchasing any robot, it’s critical that you perform a background check to ascertain its profitability. Also, it’s important to know what trading strategy trading robot is using, otherwise you are buying a pig in a poke.
If a flashily advertised robot cannot authenticate its profitability, then do not waste your money in using it for live trading.
The forex advisor generator from the Forex Robot Academy is reliable and will assist you to create real profitable EAs within seconds.
Furthermore, the generated robots are already tested against historical data and comes with settings that can be optimized for any trading condition.
So, you are sure of getting authentic forex robots that work.
Expert Advisor Tester
The forex EA generator online has an inbuilt strategy tester that can assist you to create the best robot for your needs.
Although the expert advisor tester is the same with the MetaTrader Strategy Tester, it’s much faster and more efficient.
This powerful tool is capable of backtesting trading robots against the provided historical data so that you know its strategy has been working in the past. This is something difficult to achieve with any other EA builder.
While using the MT4 code generator, the tester will be automatically running in the background and evaluating your strategies according to its algorithm.
This process enables you to assess how the EA could have performed in the past.
As such, you can provide different input parameters and run them against the tester to check their viability. This way, you can always create forex robots that work.
More so, it’s advisable that you should try your generated strategies under simulated forex trading conditions before launching them to a real account.
Forex Robots List
The forex robot generator allows you to create a wide range of trading robots—from simple EAs to complicated EAs capable of trading varied strategies.
With the huge list of robots that you can produce using the tool, you cannot miss something that meets your tastes and preferences.
Regardless of your trading style, the generator can assist you to create forex robots that work.
For example, if you prefer long-term trading, you can create a robot that is capable of long-term trading.
Here are just a few forex robot types that can be created:
- Williams R expert advisor
- Forex robot with RSI
- Forex robot based on moving averages
- Expert advisor for micro accounts
- Expert advisor for different standard accounts
- And many others
Here’s a full list of MT4 & MT5 indicators that are available in the Forex Robot Factory:
- Accelerator Oscillator
- Accumulation Distribution
- Average True Range
- Awesome Oscillator
- Bears Power
- Bollinger Bands
- Bulls Power
- Commodity Channel Index
- Directional Indicators
- Force Index
- Money Flow Index
- Moving Average
- Moving Average of Oscillator
- Moving Averages Crossover
- On Balance Volume
- Standard Deviation
- Williams’ Percent Range
Forex Strategy Builder
In expert advisor programming, most developers make the mistake of not properly defining their trading rules.
As a result, this often leads to increased losses and poor EA performance.
The EA generator tool tries to overcome this problem by providing a reliable forex strategy builder to assist you in clearly defining trading rules and other parameters.
With the inbuilt strategy builder, you can manually create EAs, which allows you to define their own profitable automated trading rules. How do you know that? Well, Forex Robot Factory will test your trading rules on historical data in a few seconds and show whether the strategy was or was not profitable in the past.
Therefore, the forex advisor generator is the best option for building reliable EAs with well-defined trading rules.
What’s more, as mentioned before, the EA generator provides backtest results, which allows you to optimize your trading rules for maximized profitability in the forex market.
Expert Advisor Programming
Instead of manual trading, expert advisor programming allows you to create robots that can automatically enter and exit the market on your behalf.
Although you can develop an EA using MT4 programming, it’s much more expensive and tedious than using the forex EA generator online.
The web-based MQL4 code generator assists you to conveniently create profitable robots within seconds and without any technical skills.
With the EA generator, you can develop competent robots without requiring any programming skills.
Furthermore, the created robot can be exported either in MQL4 format or in MQL5 format, enabling you to seamlessly integrate it into your preferred trading platform.
If you have some programming experience, you can incorporate additional rules into the robot to ensure it’s optimized to your needs.
The forex EA generator is the tool you need to create real money-making robots without ever worrying about any complicated lines of code.
It’s the world’s first forex advisor generator that has been developed with the needs of traders in mind.
The online-based application allows you to generate profitable robots without any technical skills and within your budget.
If you want to develop winning forex robots within seconds and take your trading career a notch higher, then use the Forex Robot Factory.