EA Programming – Automated Trading with MQL5 for METATRADER5

The core of the IDE is the MQL5 programming language (MetaQuotes Language 5). All MetaTrader 5 programs are created using this language. With its broadest functionality and flexibility, MQL5 allows you to control almost every aspect of your trading strategy or analytical tool. You can read more about this language in MQL5 Reference – it is written in clear and accessible language. The “Introduction to MQL5: How to write simple Expert Advisor and Custom Indicator” article will help you to quickly get used to the new programming language and write a simple EA or indicator.

The best way to write MQL5 trading programs is to use our special-purpose MetaEditor. The MetaEditor built-in debugger can find errors as you develop your MQL5 programs.

After compilation MQL5 programs are available in MetaTrader 5 trading platform, where you can run them. In no time you can apply technical indicators to a chart and start to analyze dynamics of financial instrument. It’s better to test an Expert Advisor in Strategy Tester before it is allowed to trade.

Strategy Tester is an extraordinary powerful tool crafted for developers of trading robots. Before you start your robot to trade, you can assess its profitability, risk level, stability and other parameters in Strategy Tester. Testing is based on historical data available for the chosen currency pair or stock. These data reflect the unique features of this financial instrument dynamics. The corresponding section of the terminal user guide describes the basic steps that will allow you to estimate EA’s profitability during tests and optimization.

Optimization of Expert Advisors is another core feature of Strategy Tester. The purpose of optimization is to find the best values of Expert Advisor’s parameters in order to achieve the desired characteristics of trading robot. For example, it can be maximal profit, stability, low level of risk, etc. Genetic algorithms support in Strategy Tester significantly decreases the time of complex optimizations with large number of passes. Distributed optimization also terrifically speeds up this process by taking advantage of additional computational power via local network or the Internet.

MQL5 Wizard

However, you can get the necessary Expert Advisor without any programming skills. For example, using the MQL5 Wizard, which allows to quickly generate an Expert Advisor code. With the new Wizard, the programming experience is not required – the application will do all the necessary work to create an Expert Advisor. You only need to set the required parameters and select necessary components. Thus, every trader with just four clicks can construct a trading robot that trades according to a given strategy. The best way to get started with MQL5 Wizard is to read the MQL5 Wizard for Dummies article.