LEARNING

Automated Forex Trading

Free MT4, MT5 Expert Advisor Builders

Automated Forex Trading is the 'Holy Grail' of advanced Forex trading. Τhe following EA builders are offered for free / or provide a free-trial period and can be used for creating EAs on MetaTrader-4 and MetaTrader-5.

MT4 builders are designed to generate customized Expert Advisors by compiling MQL4 or MQL5 code. Some of the following EA builders are web-based, others require installation. When you create your first customized EA you are advised to test it risk-free in a Demo Account before trading for real money.

Here are the free Expert Advisor Builders:

(1) EA Builder for MT-4, MT-5, and Tradestation

◙ PRICE: Free for creating Indicators

◙ BUILDER: Web-Based App

◙ EXPERIENCE: Semi-Advanced / Advanced Traders

The EA builder is a free application for creating indicators. You can turn your manual trading into arrows and alerts and create indicators for MT4, Mt5, and TradeStation. You can also turn any manual system into a fully-working Forex Robot (EA).

» EA Builder for MT4 and MT5

Here are the basic features of the EA Builder:

Develop indicators and EAs for trading Forex pairs, stocks, indices, ETFs, commodities
Create EAs without knowing anything about programming
Tens of built-in functions such as support, resistance, trendlines and time (select when to trade)
Every feature of the EA Builder has a popup tip that helps and guides you
Three (3) Alert Types (eMail, Audible alerts, print to output window)
Full Money-Management system with custom functions
The generated code is contained in a single file, ready to be used on MT4, MT5, or Tradestation

EA builder is completely free for creating Indicators but if you want to create EAs there is a one-off payment.

Here is the website of EA Builder:

» Download here free EA Builder MT4 & Tradestation Indicators

(2) Expert Advisor Builder for MetaTrader 4

◙ PRICE: Free

◙ BUILDER: Web-Based App

◙ EXPERIENCE: Semi-Advanced / Advanced Traders

The Expert Advisor Builder (EAB) is a web-based EA builder that is free and simple to use. EAB generates EAs for MT4 by using seven (7) fields.
(i) EA Template field
In this section, you may enter your own script.
(ii) EA Variables field
In this section, you will set up your main variables according to which you will control your trading strategy {Buy and Sell strategy / Close(Buy and Sell) strategy}.
(iii) EA Buy-Strategy field
Set-up your EA buy-strategy.
(iv) EA Sell strategy field
Set-up your EA sell-strategy.
(v) EA Closing (Buy) strategy field
This section allows you to enter the conditions for Closing Positions opened according to the 'Buy strategy' field.
(vi) EA Closing (Sell) strategy field
This section allows you to enter the conditions for Closing Positions opened according to the 'Sell strategy' field.
(vii) EA Order Options field
Set up some extra settings for your Expert Advisor.