The FOREX market operates in trillions of dollars, but anyone with a computer and Internet access can work on it. To facilitate decision-making during trading, many traders use advisors - special programs that work according to a specific algorithm.
Instructions
Step 1
The most common Forex trading platform is the mt4 terminal. Accordingly, most of the advisors are written for it. If you do not have a terminal yet, download it from the website of the dealing center with which you work.
Step 2
Start a terminal. Open MetaEditor by pressing F4. In the editor window that appears, in the File tab, select New, the Expert Advisor Wizard will open. Select the type of the created advisor - Expert Advisor. Click Next. In the next window, enter the name of the advisor and the details of the author (if you want).
Step 3
The same window contains the Parameters table - click the Add button on the right. The new parameter Extparam1 appears. Using the parameters, you can "teach" the advisor to perform the required actions. For example, change the name of the Extparam1 parameter to StopLoss by double-clicking the line with the mouse and entering a new name. Set the parameter type to double. Set the value of the parameter (Initial value) equal to the value of the allowable loss for you - for example, 20 points.
Step 4
Similarly, you can enter a value for profit and other parameters. You can not enter anything at this stage and enter the required values later manually, directly into the code. Click "Finish", you will see a window with the basic code of the advisor.
Step 5
Pay attention to the init, deinit, start functions. The first one performs operations related to the initialization of the Expert Advisor after its launch. The second turns off the advisor when it is turned off or the terminal is closed. The most important function is the start function, since it is this function that processes all the data that comes with each new tick (price change).
Step 6
How does the advisor work? It is necessary to enter lines in its code, thanks to which it will open or close an order if the current situation corresponds to the conditions laid down in the advisor's logic. For example, a simple Expert Advisor can be based on the Moving Average indicator. Two averages are plotted with different periods - for example, 5 and 15. If the fast line crosses the slow one from the bottom up, a buy order is opened. Closing occurs when the desired profit is reached or when the fast line crosses the slow one from top to bottom.
Step 7
In the same way, the opening and closing of a sell order occurs. To reduce the number of false signals, you can introduce a rule according to which the order will be opened only after the fast line moves away from the slow one by some distance - for example, 10 points. You can set specific settings by defining the most successful parameters.
Step 8
How do I write specific lines of code? To do this, you need to master the basics of the mql4 language. You can find a lot of useful materials, including tutorials, here: https://forum.mql4.com/ru/ Do not start creating a complex Expert Advisor right away - endow it with the simplest functions first, and then gradually complicate it. However, be sure to keep the basic versions - they will come in handy if you have to go back to the previous versions.
