How to Build your EA

Just started using EA builder. Seems like a great system. I spent thousands buying commmercial ea's from other authors but I realize no reason to use someone else's strat and best to use my own. In regards to eabuilder, I am struggling to be able to build an EA based on pull backs and find it's easy to build based on breakouts. I apologise if this is in the thread already! I just didn't see it. Any idea how one can accomplish this? I purchased the full version of EA builder.

Breakout with and pullback are excellent trades but they have a different problem to them. TO build ea for it, you need a different approach. Direct use of EA builder may not do the task. First use EA builder to generate required code which will do tasks such as opening a trade, closing a trade, etc. You must understand that breakout has no specific mathematical equation, its just the trader perception. one may consider breakout from a single candle boundary while other may use a couple of candles. So that part of the logic you need to add to the code yourself. which is again impossible as logic can only be defined when some rules cannot be broken.
Any thing related to mathematics and indicators(which is again derived using mathematical formula) can be easily build by ea builders. But things which only eye can see is not possible to build entirely. Instead you can enter the trade manually and then let your EA to manage the trade such as moving the stops and profit target as per market volatility.

Basically, just looking to build an ea based on pull backs. So, what would I tell ea builder to do for entry if I want to enter a trade after a pullback to, lets say, the 21ma or even a pivot point? Problem for me is my work schedule prevents me from having time to trade as often as I would like. I'm trying to develop a system that trades with my trading rules for each strat I use.
Also, if I wanted to use pivot points, it looks like its not available as an indicator. Is that hard to build one in ea builder?

Yes you can build an EA based on pullback to pivot point and break of it as pivot points are calculations not just random levels. But to do it you cant rely on EA builder as it has no concept of pivot points. You need to add your own function to an generated code.
My advice is don't directly use EA builder to build everything for you. Instead use EA builder to generate the basic codes such as 21MA comparison or stochastic over bought or oversold indicators, etc. After generating those codes separate the required functions and add your own complex functionalities into it. You need to have a little coding knowledge if you need to develop complex EA else its not possible.

What type of indicator is best to build an EA ?

Generally Indicators can be classified into 3 broad categories:
1. Indicators which follows trend.
2. Indicators which oscillates between a fixed range.
3. Indicators which follow volume.

Out of these 3 categories volume is useless for Forex as there is no fixed exchange, so true volume is never found. Rest left is to follow the trend and let the oscillator roll.
As per my testing, to get trend direction, moving average is the best tool. There is none other like it which can clearly signify trend but most people laugh out on moving average as they never understand the true potential of moving average. I have given more information on moving averages in a different thread : Deep analysis of candlesticks. This has few unique observation which will help you while building your EA.
Parabolic SAR is a beautiful indicator as it predict the reversal point which can occur. I will come to it a moment latter in next post.
Heikin ashi is also powerful in its own. But its not actually an indicator. Still we will discuss about it in future post.
Other trend indicators like bollinger band or ADX or Ichimoku may look complex and powerful but are completely useless. They make trading more complex then it should be.

Next are oscillators. People talk more about MACD. Its good but slow. By the time we catch a trade with it, its already too late as a result the risk increases compared to the reward. So its best adviced to use alternate oscillator.
ATR just gives the candle movement index so it will come in handy while we combine with any strategy but alone it cannot do anything.
Stochastic and RSI are the best oscillators to follow as they predict the move before it has happened, they are not lagging indicators like others. Combining them can create more powerful EA people could ever imagine.

IN next posts let discuss about each of these promising indicators in details. IF you have any doubt about EA designing, then please read the posts from the beginning and check my other threads, all carry valuable information.

A Strategy Which can be highly profitable

This Trading Strategy can be traded manually, but i have automated it as its more fun to watch it trade.
How To automate a strategy is a different topic and is covered in this thread.
The Strategy goes as such:
Indicator used: Weighted Moving Average WMA (20 period) and Heikinashi Candlesticks.

Before I explain the strategy, let me clarify a concept and then the strategy will resonate more clearly with you.
As you know the market move because there is always a denial to the current price by the traders. And at any point of time there is always a buyer and seller for a trade to execute. Thus for you to buy, you need sellers and same for you to sell you need buyers.

So when when buyers starts slowing down and the market has lots of buyers, you should sell near to the top but in real life many people buy hoping the previous buy will continue and they will make profit. And vice-versa.

Now to take trade all these conditions must satisfy,
1. A fresh heikinashi color bar should start with a healthy heikinashi bar having no wicks at the bottom.
2. The fresh heikinashi bar must start from opposite side of the WMA and close in the correct side of the WMA.
3. The entry bar must be healthy and must be the first or second bar of the recently starting trend.

Exit when opposite color bar is formed.
Hard stop is one candle away from the recent trend swing point.

The snapshot below has entry points marked with arrow. You can see every entry ended yp with positive profit. Try it yourself. And automate it too. All the tools required is available in this thread (At the first post).

Best Indicator to scalp 5 Min Chart

As Scalping require Very fast execution of trade no manual trader who spend time with technical analysis can successfully scalp the lower time frame to make consistent profit every day. But most traders want to trade everyday and same time want to stay profitable. The problem is good trade setup do not form daily which can make you lot of pips. So the alternative is go into smaller time frames and precisely execute trades with strict rules and no emotions attached.

To attend this high level of precision, its not possible for a human. An EA is the only hope. (Read starting posts to help you with EA creations or can use EA Builder)
As we know EA's best works with strict mathematical rules or you call indicators. So to trade lower time frame, the indicators you require should inform you about a trade before it can show up on your chart.
The only reliable indicator for this task is stochastic. You can tinker with its sensitivity as per your choice.
Stochastic can predict movement because first it is an oscillator. Like every oscillator when it reaches its boundary, you know a shift is about to happen.
The moment oscillator lines cross each other and the new candle close outside the range of previous candle, you get your entry signal. And then exit when the oscillator lines again cross.
Remember you cannot have moving average cross or heiken ashi candle to trigger your entry because they react very late to the market and by the time you enter, its already too late.

Create your own strategy around stochastic and let me know how it works.

.
Working on one now based on 50 ma and moving above and resting it. How would I do this I'm eating builder? I have a few other conditions to add but I want it to take the trade after it has crossed the ma and then retested it or possibly retested another ma. If I use crosses over,

Sorry bout that. I meant to say if I use "crosses over" then it will take the trade right away. If I use crosses over and then the +, it isn't really clear I can add that extra condition to it.

Make EA of this tell if u can, thanks in advance

Hi D.s, i have tried to create this stochastic EA as mentioned above.
So far, the EA I included allow the user to set the stochastic parameters along with its corresponding price field.
It also has the setting to allow the user to set an average threshold on the deviation of opening and closing of targeted price.
S/L and T/P levels can also be set according to the users preferences.
Furthermore, user get the option to setup their prefer trading percent base on their fund along with the trading volume.

However, there is a small downside for the corresponding EA...
I've included trailing stop for the respective EA, but it just keep closing the trades in negative...
I have compile and run the respective EA, but the EA turn out to running smooth without errors.....
This makes me wonder what I had done wrong with my EA....
Can you please go through my stochastic EA and let me know what are the changes I need to apply to make the trailing stop works?
Highly appreciated if anyone can guide me out on this.
Thank you.

Attached is the stochastic EA that I've mentioned about.
Please kindly try it out on a demo account first, if you use it on a real trading account, you are at your own risk...
Side note: Please note that this EA only runs on MT5. it will not work on MT4.

You can add an extra layer of condition which will activate trailing stop only after the trade moves out in the positive direction. As long as the trade is not in profit stop loss should not be moved.
And i suggest after trailing stop moves into break even or slightly profitable price, do not move the trailing stop any more. Let the profitable trade run until your take profit is hit. Or else you are killing good trades before they could actually make a good return out of them.

Yes you can always add conditions as much as you need.
If you want retest then add condition that after crossover is detected with closing of the candle in your trading direction, wait for next candle to retrace a bit and touch a fast moving average (10 EMa), with this you will enter with a better price.

The break even point...
How can I set it?
Do you mean that for the trailing stop, I should put it in a new module as an add-on for the EA?
If that is the case, how should I prepare for that trailing stop module to be integrated into the mentioned EA?
Just fyi, I'm using class type for my EA

The trailing stop available with your MT5 platform cannot be integrated with your EA, you need to define trailing stop or break even concept in your code.

for example let say it is a buy trade, then put condition like if Bid price is 10 pips or more then the entry price then change stop loss to entry price. This will be your break even.

I am sharing my secret technique which made me a successful trader. So don't complain any more and become successful

By applying this thread knowledge you can make an EA for it too. use tool EA BUILDER

Watch my technique here:

DON'T FORGET TO GIVE YOUR REVIEW

Are there stop hunt happening in the market ?
The answer is don't hate us. We are in a business to make money.

Find it out here why amateur think it only happens with them :

Hi ds

I have this one indicator that I love , it works nice on EURUSD , it gives less negatives and big profits , but I want to do a ea for it but I don't know anything about ea creation , please assist me , can I also have your email address , I have Faith on this one

Regards
Sihle

Hi D.S.
Noob question, sorry:
I'm not looking for an EA that will open trades for me, but I want an alert system to filter out signals and receive email alerts (based on the TDI and price action).
Would having a coder develop such an alert system be cheaper than a full-on EA?
I'm trying to get an idea of how much it would cost to have a developer make this alert system for me. How do you think I should go about it?

Thanks in advance for your advice

Hi all,

I came across this thread and it inspired me to invest in the EA Builder software. Very helpful, thank you for doing this!

I'm just starting out on my FX journey, and my plan is to use EAs as a tool to backtest and optimize potential strategies I would like to trade. If I find a strategy that is fully mechanical and profitable in the process, even better!

I'm currently making my way through the video tutorials on eabuilder.com and followed the How to Create Indicators video (https://www.eabuilder.com/how-to-cre...in-metatrader4) step-by-step to create my very first indicator - so exciting! Well... not really. I went to compile the code and it came up with 21 errors and 2 warnings. In the video, it compiled without problems... qu'est-ce que heck? I'm using MT4 on a demo account at the moment. There must be something I'm missing here. Help?

Here's the code. I've attached a screenshot of the errors I got.


//+------------------------------------------------------------------+
//| Indicator: Extreme Turns Tut.mq4 |
//| Created with EABuilder.com |
//| http://eabuilder.com |
//+------------------------------------------------------------------+
#property copyright "Created with EABuilder.com"
#property link "http://eabuilder.com"
#property version "1.00"
#property description ""
#include <stdlib.mqh>
#include <stderror.mqh>
//--- indicator settings
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_type1 DRAW_ARROW
#property indicator_width1 1
#property indicator_color1 0xFFAA00
#property indicator_label1 "Buy"
#property indicator_type2 DRAW_ARROW
#property indicator_width2 1
#property indicator_color2 0x0000FF
#property indicator_label2 "Sell"
//--- indicator buffers
double Buffer1[];
double Buffer2[];
datetime time_alert; //used when sending alert
extern bool Audible_Alerts = true;
double myPoint; //initialized in OnInit
void myAlert(string type, string message)
{
if(type == "print")
Print(message);
else if(type == "error")
{
Print(type+" | Extreme Turns Tut @ "+Symbol()+","+Period()+" | "+message);
}
else if(type == "order")
{
}
else if(type == "modify")
{
}
else if(type == "indicator")
{
if(Audible_Alerts) Alert(type+" | Extreme Turns Tut @ "+Symbol()+","+Period()+" | "+message);
}
}
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
IndicatorBuffers(2);
SetIndexBuffer(0, Buffer1);
SetIndexEmptyValue(0, 0);
SetIndexArrow(0, 241);
SetIndexBuffer(1, Buffer2);
SetIndexEmptyValue(1, 0);
SetIndexArrow(1, 242);
//initialize myPoint
myPoint = Point();
if(Digits() == 5 || Digits() == 3)
{
myPoint *= 10;
}
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int OnCalculate(const int rates_total,
const int prev_calculated,
const datetime& time[],
const double& open[],
const double& high[],
const double& low[],
const double& close[],
const long& tick_volume[],
const long& volume[],
const int& spread[])
{
int limit = rates_total - prev_calculated;
//--- counting from 0 to rates_total
ArraySetAsSeries(Buffer1, true);
ArraySetAsSeries(Buffer2, true);
//--- initial zero
if(prev_calculated < 1)
{
ArrayInitialize(Buffer1, 0);
ArrayInitialize(Buffer2, 0);
}
else
limit++;

//--- main loop
for(int i = limit-1; i >= 0; i--)
{
if (i >= MathMin(5000-1, rates_total-1-50)) continue; //omit some old rates to prevent "Array out of range" or slow calculation
//Indicator Buffer 1
if(iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_MAIN, i) > iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_SIGNAL, i)
&& iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_MAIN, i+1) < iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_SIGNAL, i+1) //Stochastic Oscillator crosses above Stochastic Oscillator
)
{
Buffer1[i] = Low[i]; //Set indicator value at Candlestick Low
if(i == 1 && Time[1] != time_alert) myAlert("indicator", "Buy"); //Alert on next bar open
time_alert = Time[1];
}
else
{
Buffer1[i] = 0;
}
//Indicator Buffer 2
if(iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_MAIN, i) < iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_SIGNAL, i)
&& iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_MAIN, i+1) > iStochastic(NULL, PERIOD_CURRENT, 5, 3, 3, MODE_SMA, 0, MODE_SIGNAL, i+1) //Stochastic Oscillator crosses below Stochastic Oscillator
)
{
Buffer2[i] = High[i]; //Set indicator value at Candlestick High
if(i == 1 && Time[1] != time_alert) myAlert("indicator", "Sell"); //Alert on next bar open
time_alert = Time[1];
}
else
{
Buffer2[i] = 0;
}
}
return(rates_total);
}
//+------------------------------------------------------------------+