Tutorial - Start automatic trading
Last update: 25 October 2022
If you came here because you're starting the endeavour of building a trading robot: you've come to the right place! This tutorial will focus on building an EA using EA Builder Pro. You can build our example EA by following our footsteps, or you can make you own decisions by using the extra information provided to you during this tutorial.
When trading, you're placing orders at a broker. A broker usually offers a trading platform so you can place your orders manually. One of the best of such platforms is Metatrader. Besides manual trading, Metatrader allows you to install a trading robot, called an "Expert Advisor" (EA). EA Builder Pro helps you build an EA with the greatest of ease.
This tutorial assumes you've got Metatrader 4 or 5 installed and are fairly familiar with it.
If you're unfamiliar with Metatrader, we suggest you start by installing Metatrader from the Metaquotes website, because this way you won't have to choose a broker right now. Metaquotes will offer you the trading software and a Demo account. Trading with real money at a real broker can wait until you're all setup and ready. We will get back to you about brokers later in another tutorial. We also suggest you follow the 'Introduction to Metatrader' course on the BabyPips website if you're unfamiliar with Metatrader.
How to create an automatic trading using EA Builder Pro?
In this tutorial we will be creating the so called "4 EMA & Channel" EA. This EA will use 4 different EMA trend lines and an EMA based high/ low channel.
Let's write out the entries/ exits, which we call 'signals' for our EA to act.
- Open buy signal: when the 4-bar EMA is rising, the 12-bar EMA is above the 23-bar EMA, the 50-bar EMA crosses the channel's high upwards and the price closes above the high channel.
- Open sell signal: when the 4-bar EMA is declining, the 12-bar EMA is below the 23-bar EMA, the 50-bar EMA crosses the channel's low downwards and the price closes below the low channel.
- Close buy signal: When the 12-bar EMA crosses the 23-bar EMA downwards or when the price touches the 50-bar EMA.
- Exit sell signal: When the 12-bar EMA crosses the 23-bar EMA upwards or when the price touches the 50-bar EMA.
Next: Part 1 : Get started.