A Forex Robot is a program that automatically decides when to enter or leave the market with inbuilt trading rules. Before, advanced programming skills and other technical skills are needed when making a forex robot for MetaTrader 4. But nowadays, it is already possible to build a forex robot without programming expertise or employing a programmer, just by using the forex robot generator.
Create a Trading Plan
Before you get into making the robot, you need to determine the parameters of a trading plan. This will ensure that it should work according to your preferences and try your strategy under simulated forex trading conditions. Consider it as a trading operation blueprint that can help you identify your targets and help you achieve them with your automated framework.
Create Your Forex Robot Software
Once you have determined what you want your system to do, you can create the forex robot software. It is important to remember, in particular, how your system can classify trading possibilities and what you want it to do when it identifies one.
You no longer need to create a forex robot from scratch if you’ve mastered MQL5. Create a trading signal module and generate a trading robot with the activated trailing and trading volume management modules automatically based on this module.
And even if you are not familiar with it or don’t want to dig much into the trade class structure, you can only go through 6 steps:
1. Create a Class from Scratch
Write your class by first creating a new folder to store signals in MQL5.
2. Follow the Rules
Since the class is empty, select a module seen in every handle. You must follow the basic rules and parameters for this.
3. Setting Parameters Methods
During this step, you will have to work with the external parameters. Declare public methods of the same name of the class created.
4. Check if Correct
After setting values and for the module, check if every parameter is correct.
5. Work with Indicators
Once every parameter is checked, and all of them are correct, you can provide indicators of moving averages for the module.
6. Define the LongCondition and ShortCondition Methods
Suppose everything is ready for making the module work and generate trading signals. A function shows up with two methods: LongCondition checks the buy conditions, and ShortCondition checks the sell conditions.
In MQL5 programming, each move is easy and requires little ability. You need to write your module once, following the instructions, and it will take no more than an hour to further verify any trade concept, without tiring hours of coding and debugging.
I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.