Metatrader 5 expert advisor tutorial

Matatrader 5 expert advisor tutorial is script, a write up or a textbook that explains the operating program, indicator and ways of creating an expert advisor in a metatrader 5 platform for the achievement of a profitable forex trading. This tutorial is basically meant for a huge number of forex traders without basic experience in programming that are interested in learning how to develop an expert advisor for a metatrader 4 client terminal. 

Basically, a metatrader 5 expert advisor is a trading platform that allows a forex trader to carry out technical market analysis and to trade both automatically and manually in the concept of currency trades. This platform differs from metatrader 4 expert advisors in positions and order.  This software functions by using a trading strategy that monitors a certain indicator and when a particular condition is met, it automatically places a trade with regards to the present conditions that have been met being it a short/sell or a long/buy.

STEPS ON HOW TO DEVELOP OR WRITE AN EXPERT ADVISOR USING A METATRADER 5 PLATFORM

STEP 1

In other to write an expert advisor program on a metatrader 5, a forex trader using a functional computer should begin by launching the metatrader 5 client terminal and select metaquotes language editor from the option located in the tool menu. In the Meta editor 5 window, the forex trader can choose NEW that is available in the file menu or alternatively press Ctrl+N.

STEP 2

In the MQL5 wizard window, a forex trader can choose the expert advisor as the program intended to create. Next, he/she can stipulate the program name, details about the author and trading parameters that will be requested after the expert advisor is launched. This step automatically leads to the creation of the expert advisor which the forex trader can edit and fill with his/her code.

STEP 3

When the expert advisor is created, it is important to complete it. In other to successfully complete the expert advisor, a forex trader should choose COMPILE from the options in the file menu or alternatively click the F7 key in the computer. If no error was encountered during the development of the expert advisor, a file which have an extension .ex5 will be generated. 

STEP 4

Forex traders can now attach the newly created expert advisor or forex trading robot to a chart of metatrader 5 forex trading platform for the execution of forex trades. 
In conclusion, a Matatrader 5 expert advisor tutorial is a basic note that helps forex traders in the development of an expert advisor for forex trading. Traders with limited knowledge, background and programming skills on how to write a forex robot program are encouraged to take this tutorial seriously. It does not only widen a forex trader’s knowledge but also impacts a level of programming skills to him/her.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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