How do you build your own EA?

In this tutorial we will show you how to use EA Builder Pro to create your own EA.

Get started with EA Builder Pro
Duration: 7 minutes

What is EA Builder Pro?

EA Builder Pro is a web-based tool which provides you an intuitive user interface to create Expert Advisors (EA's). EA's are fully automated scripts, or bots, which can be used to fully automate your trading. It works on your laptop, tablet or smartphone.

If you do not want to build your own EA but would like a company to build an EA for you, hire a programmer here.

Currently EA Builder Pro allows you to export your EA to two platforms:

  • MetaTrader 4 - file extension: .ex4
  • MetaTrader 5 - file extension: .ex5

We will support more platforms in the future.

To run your EA you need to setup MetaTrader 4 or MetaTrader 5, depending on the platform you prefer. To setup, please download and install MetaTrader. Copy your exported EA to MetaTrader's Expert folder and start backtesting. When you feel your EA has been tested well and you are ready to trade live, you can open an account with a broker you trust and run the EA on a Demo or Live account. We recommend running an EA on a Demo account for at least 3 months if you're completely new to MetaTrader or to running EA's in general. This is not an extensive tutorial on how to use MetaTrader. For more information about MetaTrader go to MetaTrader 4 or MetaTrader 5.

Why subscribe to EA Builder Pro?

"So, why do I need EA Builder Pro? I can just write my code directly in mql."
Yes, you can write your code direcly in mql, but:

  • You will need to learn how to code. Learning how to code takes a lot of time, more than just weeks or months. Becomming a good programmer can take years.
  • You will need to learn MQL which is the specific MetaTrader programming language.
  • You can't just switch between platforms. If you write your code for MetaTrader 4 and would like to make the switch to MetaTrader 5, or another platform, you'll have to start over, learning the specifics of MQL5. In EA Builder Pro you can recreate your EA's written for other platforms with just a few clicks.
  • All of the above takes away the focus of what is really important, which is creating profitable EA's with decent open/close signals and risk management. This way, you can spend your time fully focused on what you want to achieve without losing time.

How does EA Builder Pro work?

EA Builder Pro has been designed to make building EA's easy. EA Builder Pro offers templates to get you started in no time. Just add an new EA, select the template of your choice and you are good to go. Like to start from scratch? Just select the empty template.

After creating your EA you will see it exists of different components:

  • Indicators and Custom Indicators
  • Signals
  • Modules
  • Money management

When you are done building your EA you have 2 options:

  • Export to MetaTrader 4 or 5. Run your backtest in MetaTrader.
  • Have EA Builder Pro run the backtest for you, so that you don't have to switch on your desktop.

Indicators and Custom Indicators

An indicator consists of input variables. You can create, edit or delete indicators with a few clicks. Creating an indicator is as easy as filling a form. For more information about indicators go to indicators.

Signals

Signals are the logic your EA will apply for opening orders. The indicators you created can be used here. The Signal editor is extremely flexible, this means you can make any signal that you would like. There are 4 signals.

  • Open Buy
  • Open Sell
  • Close Buy
  • Close Sell

The Open Buy and Open Sell are used to open an order (or position). The Close Buy and Close Sell are used to close an open order. Closing orders can also be achieved by using EA Builder Pro's Modules. For more information about Signals go to Signals.

Modules

There is an extensive library of Modules built into the system. Simply activate a module and tweak a few inputs to have the module behave as you want, and you are good to go. These modules have various tasks:

  • Prevent opening orders.
  • Closing orders.
  • Configure how many orders can be open at the same time.

For a complete list of modules and their application go to Modules.

Money management

Configure how much risk you would like to take.

  • Fixed lotsize
  • Linear lotsize
  • Martingale

A fixed lotize will always be the same no matter the balance on your account. A linear lotsize will grow or shrink with your account size. Martingale will compensate lotsize for losses. For more information about riskmanagement go to Money manager.

Export to MetaTrader 4 or 5

When you've finished your EA you have the option to export it to MetaTrader 4 or 5. This can be done by clicking the 'Export to MetaTrader' button. This will generate an .ex file for you, which is your own fully working expert advisor. You can backtest your EA in MetaTrader or run it in a demo or live environment.

Backtest in EA Builder Pro

EA Builder Pro has a built-in backtester which you can use to quickly test your EA without the need of exporting it. Handy for when you're not near your MT terminal. Just press the Backtest button, choose the test periode, symbol and spread and start the test. Once completed you will receive the results in your mailbox. You can also monitor your backtest in EA Builder Pro.

Next: EA Builder Pro Algorithm