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A trading system based on technical analysis is much easier to automatize. If it consists of indicators, it is enough to know the programming language of the trader's platform. For example, on Forex the most popular platform is MetaTrader 4. To write a trading robot for this platform, the MQL4 programming language is necessary, i.
A great option for creating a trading robot for those who do not know any programming language will be a multi-market platform R StocksTrader. It has a built-in simple and intuitively understandable strategy constructor. It is meant for automatizing your trading system if you have no programming skills. I will try to answer all of your possible questions by showing you how to create a trading robot on R StocksTrader on the example of a very simple trading system consisting of two indicators.
The first and the most important thing you will need at the start is a trading system. It must have clear rules of opening buy and sell positions. To avoid mistakes, you should draw all the indicators on the chart. The lower border of the Bollinger Bands Low 20, Close, 2, 0 is above the minimum price of the current candlestick. The upper border of the Bollinger Bands High 20, Close, 2, 0 is below the maximum price of the current candlestick.
I have shown you how to describe an entrance point for a Buy. Now we need to transfer it to the R StocksTrader platform. After these steps are complete, you get to the constructor itself, where you specify the parameters of your trading system. To start with, the constructor suggests setting up the condition for a Buy position. As long as we have described them above, it will be enough to just choose the corresponding parameters of the indicators and specify the conditions.
If these values are specified, the position will be closed at the condition that is fulfilled first. So, we have formulated the necessary conditions for opening and closing a Buy. Now let us check whether this system will demonstrate good results.
For this, choose your preferred instrument, choose a timeframe, "Order volume", and click "Backtest". Testing is performed historically, the timeframe is picked up by the platform and depends on the number of testable quotations. Unfortunately, you cannot upload quotations for longer testing here. In our case, the strategy demonstrates a positive result with a profit of 1, USD. A negative result would have meant that the system needed reworking. In this tester, the starting deposit is not specified.
The growth of profit starts from zero, so everything below zero can be considered a slump. This strategy showed a slump of USD at the very beginning. Then all losses were covered by the money earned. However, this is not it, and the result can be enhanced by adding some more standard conditions. Go back to editing the strategy click "Editor" and type 2 in "Max open deals". By this, we allow the trading robot to open a second position even if the first one has not closed yet.
I must warn you that in this particular strategy the parameter works incorrectly. The conditions are checked on every tick, and in one minute a whole load of positions may be opened. To avoid such a situation but still be able to open a new position at a better price, we can use the "Enter every 0 ticks above last entry" function. Instead of zero, type in the necessary number of points. Additionally, in "Multiplicator" we type 2, by which we tell the robot to make the volume of the second position 2 times bigger than that of the first one.
Click "Backtest" and check the new results. To do it, click "Enable"; a window will appear. If the two last boxes are left blank, the positions will be closed at the conditions implied by the strategy. The choice of the instrument is performed automatically. In our case, the program will choose the instrument the chart of which is currently on the screen.
This is US After the launch of the strategy, we can check the name and all the information such as the time of launching, the instrument, the timeframe, the profit, etc. Same way, we can launch the strategy on any instrument that it shows a positive result. However, you will have to calculate the volume of the trade for each instrument to avoid exceeding risk limits on the deposit as the simultaneous closing of all positions on the account with a loss can cause serious damage to the deposit.
With R StocksTrader, unlike MetaTrader 4 and MetaTrader 5 , there is no need to keep your computer on all the time for the robot to trade. Neither do you need a VPS. You only need to launch the robot on the platform, and then it starts trading on the server automatically. While trading, you can close the positions manually and alter both the order and the strategy itself.
You can put the expert advisor on a halt or simply delete it if your results are worsening. Yet another advantage of the trading robots on R StocksTrader is the vast selection of instruments, including the stocks traded on European and American exchanges and currency pairs.
Thus you can try one robot on several markets, otherwise, you would have had to create a separate robot for each platform and study programming languages, which is time-consuming. Now you see that anyone can create their trading robot. A platform features standard trading strategies, all of them having their work conditions transparent.
In our case, you can enhance them according to your ideas and find the best instruments for them. All you need is a strong desire to progress in trading and use all the opportunities for making a profit on financial markets. One such opportunity is discussed in this very article. He has been in the financial market since Since , has been trading stocks in an American exchange and publishes analytical articles on the stock market.
Actively participates in preparing and delivering RoboForex educational webinars. Is robot trading system is similar like manual? How i can create a forex robot, and what setting and advice one should follow to make aEA become powerful to be trusted? Handover our money to EA and sleep well!
They can simultaneously consider variables for multiple currency pairs and trade at a speed no human can do. Also read: Best Trading Bot Strategies. Open your MT4 panel and follow the five steps below to create an Expert Advisor:. Click on the tab called Expert Advisors. On the extended options under the Expert Advisors tab, right-click on the window and click on Create. Flag Expert Advisor as a new object to be created and fill in the information below:.
Note: Under Inputs , simply click on Add or Delete to add or remove a parameter. A new Expert window with the customized inputs will be opened in the editor. MQ4 format. At this point, you can start writing the Expert code. These are the steps to create an Expert Advisor.
You can create basic trading bots if you know basic coding and programming. But in order to use professional ones, you have to download or buy one and then run Expert Advisor on MT4. Want to Improve your Trading? Give yourself a better chance at the Forex market by hosting your trading platform right next to your broker. All you have to do is to download an EA and extract it to your MT4 folders.
In the end, you can check to see if your EA is running correctly. Follow these steps to run Expert Advisor on MT After downloading your EA files, you have to unzip them. An EA folder should include two files:. Expert Advisors that are more professional might include more files required for them to work correctly.
To do so, launch the MetaTrader 4. In the upper navigation menu, click on File and then click on Open Data Folder. Before using your EA, run this quick check to make sure everything is up and running. In the upper navigation menu, click on Tools and then on Options. In order to run Expert Advisor on MT4, the Auto trading option should be enabled in the control panel. When enabled, this button has a green indication. Before starting your Expert Advisor, make sure the chart with the asset and time frame you want to use your EA on is open.
Under the Inputs tab, make sure all the right parameters according to your trading strategy are there. Expert Advisors help make trading a lot easier for forex traders. They can trade multiple deals at a speed we are not able to. If you want to become a professional forex trader , educate yourself about trading bots and trading bot strategies. You can also invest in a VPS for trading. At Cloudzy, you can have a forex VPS close to your broker and reduce latency as much as possible.
You will be relieved to know your trades and transactions are safe and secure when done with our visual private servers. If you have any questions, leave us a comment, we will be happy to help! Expert Advisors can reduce human errors. Even though you can program the EA to trade for you, it still works based on your commands. You have to jump in from time to time to make sure everything is going on as you desire.
MetaTrader 4 is a trading platform. You can use it to trade in different markets. But you have to use trading bots specific to crypto trading.