Last update: 27 April 2023
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 us in our footsteps, or you can make you own decisions, using the extra information provided by this tutorial.
When trading, you're placing orders at a broker. A broker usually offers a trading platform which allows you to send 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 (up to 10 times quicker than with our competition).
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 we are guessing you don't want to have to choose a broker right now, until you are setup and ready to trade on a demo- or live account. Metaquotes, the developing and publishing corporation of MetaTrader, will offer you the trading platform and a demo account. 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.
Let's get started! In this tutorial we will be creating the famous 'Cowabunga' EA. This EA will use the trend on the H4 (4 hour) timeframe to act as a filter and then look at the M15 timeframe for opportunities to go long or short.
Let's write down the entries/ exits, which we call 'Signals' as a general term for a collection of conditions for entries and exits.
Well, that's quite something! The EA you had in mind may be less complicated than that. Actually 9 out of 10 trading strageties are less complicated than the Cowabunga strategy. However, we wanted this tutorial to show EA Builder Pro is capable of creating advanced EA's and at the same time make sure you learn enough to create advanced EA's yourself. If you just started building EA's and notice during this tutorial that you have questions and need additional help, please Subscribe and send us your questions. Now, let's continue!
Next: Part 1 : Get started.