MQL5 Automated Forex Trading Bots and Expert Advisors Code Base Library
MQL5 automated forex trading robots code base is the official coding community for automated forex trading systems known as Expert Advisors or EA Forex Robots. EA Forex Robots is a popular topic. However, challenge is how to find a good quality EA bot. This is where MQL5 EA Market comes in: hosted by MetaQuotes Software Corp. , The Makers of MetaTrader Software - to get a good quality EA one Should join this codebase.
A library of Robots and Automated Forex Trading Strategies
MQL5 Expert Advisor Template - MT4 Automated Trading Robot: www.mql5.com/en/market
For a new beginner wanting to know what is automated trading, place to start at is at official MQL5 code base that is hosted by MetaQuotes Software Corp. The maker of MetaTrader 4 Software.
Get Free Forex Expert Advisors as Well as Paid Ones
About Automated Forex Robots
You can go to codebase site and get MetaTrader 4 Automated Forex EA Programming Tutorial and learn how to automate forex trading and write an Expert Advisor. But because most people may not want to learn a programming language or take on the task of building automated trading systems and might want to use their time for trading currencies and making profits, for those who don't want to learn programming they can directly access the Forex robots listed on this market: where programmers using EA Forex Robots that are profitable sell their automated systems, others can then buy from them or order one to be coded for them from this codebase.
This codebase is also a good place for experienced currency traders, it allows those who can demonstrate that they have a profitable forex trading robots to get additional earnings by selling their EA Forex Robots, these are also made available directly From the MetaTrader 4 software, where potential buyers of EA Robots can access them. The screenshot below shows how a trader can access these MT4 automated trading EAs on their platform.
Access Automated Forex Trading Programs From the MT4 Automated Platform
EA Library - for Traders Wanting to Automate Trading
From the above screenshot one can access the Codebase Market directly from their platform. One can then automatically install the EA on to their MetaTrader 4 platform and start trading with it. The Market contains free forex trading EAs as well the paid ones. One can also try out any of the above forex trading EAs by down loading their demo edition after signing up in this Community.
As a trader wanting to get professional automated trading Expert Advisor robots & strategies this is place to start.
How to Get a an Automated Forex Robot
Once you have downloaded the MT4 Software and installed it on your computer. You will then have to open the MetaTrader 4 Toolbox: The Toolbox can be accessed by pressing the CTRL+T keyboard shortcut keys. After launching the toolbox choose ' Market ' tab as illustrated and shown on the screen shot below.
A list of the available EA Forex Robots will appear as shown below. You can also select a forex trading robot from the different categories as shown and illustrated below.
Library of Forex Trading EA Robots
You can then select the one that is suited for your trading style. Every item on this list has a detailed description of how it operates & you can use this information to choose one that suits your methods based on this description.
There are different applications which one can use, among the ones you can purchase are:
- Expert Advisors
- Custom Indicators
- Panels
- Libraries
- Analyzers
- Utilities
You can choose any of these based on categories as illustrated and shown on image above. If you need to learn what is an automated trading EA, custom indicators, libraries, panels, utilities and analyzers on forex trading platform are you will need to visit the Codebase Community.
Once you've visited & decided which type of application you require, next step is to register & become part of this coding community. After signing up you'll then get an account & you can interact with other forum members & have access to multiple Expert Advisor Forex Robots. To register - go to the Registration Page on their website.
After signing up in community you will then need to obtain credits. Credits is the currency which is used in order to obtain the automated trading systems available. To get credits you'll first need to deposit some money in to your MQL5 account.
You will then use this account and the password that you obtain to set up the forex trading automation on your MT4 platform as shown below. These settings will be set on your MetaTrader 4 platform that is installed on your computer, and not on the MQL5 website - but you will first get them from MQL5 website then set them on your MT4.
Setting Up An Account to Use for Automated Trade on MetaTrader 4
Login to MQL5 Account from MT4 Platform
To get to the above window, Go to " Tools", Next to " File, View " at the top left corner of the MT4 platform. Click Tools >>> Click Options, the above window will pop up.
Select ' Community ' as shown above, & then type your Login details: Your Login & Password.
Once this is complete you'll now have complete access to the Market, & you can set up any of the automated Forex robots on your platform and start automated trading.
How to Test an Automated Forex Strategy Before Buying
Before buying an automated trading bot, there is an option to test out and find automated trading strategies that work for you before buying - by down loading demo edition of the bot that you want and testing it out before purchasing it. This way you can try out the automated trading forex EA robot you want by testing its strategy using strategy tester window.
Review and Information of Automated Trading Systems Details
From the above example, the screenshot shows you how to setup an Expert Advisor from the MT4 toolbox by buying it using your credit points or by first downloading the demo robot download version to test out the strategy.
All these automated trading strategies are available from MQL5 and they can also be accessed from the MetaTrader 4 Software. Once a trader gets an Automated Trading System they can then setup & launch this application on 3 different Computers.
Posting Of Automated Forex Trading EAs by Expert Advisor Developers and Forex Analysts
As a developer of Expert Advisors that are profitable, you can get to post your EA by registering as a seller . You can get access to large number of potential customers by posting your robot which can become a mass selling product.
Once you complete the registration process your Expert Advisors will be hosted on the MQL5 Community and you will make money every time your EA is purchased. As a developer you get to set the price for your EA, the more profitable it is the more dollars you can set it for.
Once you setup your registration, traders can then buy and download your automated robots directly from their MT4 Platform. Each purchase must get an activation code from the MQL5 Community, activation code is only limited to a few computers, Three computers. Therefore no one can buy & then start reselling your Automated System because it would need an activation from MQL5 CodeBase Community
To protect creators, each purchase is associated to the account of a trader on MQL5 web-site and a specific PC++Desktop computer, purchase is not associated to the broker platform neither is it associated to the forex account with the broker. It is only associated to the account which the trader has on this Community.
Those wanting to buy can also try demo versions of the Bot, but this edition can only be run on ' Strategy Tester', and demo edition cannot be run on real trading environment. This ensures that a buyer can test out an Expert Advisor's profitability before buying it, at same it will also ensure that the demo edition of your Expert Advisor cannot be used to transact in the real market, not until the time when it has been purchased & activated.
How to Select Automated Forex Trading Bots
All EA Forex Robots are listed on the MT4 automated trading software have snap-shots & a brief review that one can click & read about each.
List of EA Forex Robots on MT4 That Can Be Used for Automated Trading
Upon clicking on any of these trading systems, one can read the review its information which will include even the history of the transactions made that look like this:
One can then select an automated forex trading program from list of those provided depending on one that is most profitable & suitable for them based on their trading strategy.
