Thought of writing a simple expert advisor for Metatrader 4 to send automated orders from MT4 to Algomojo – Cloud-Based Trading Platform. This tutorial provides a basic framework for implementing expert advisor and setup guidelines to automate their trades with Algomojo Platform.
Supported Brokers: Angel Broking, Alice blue, Firstock, Tradejini, Mastertrust, Zebu
What is an Expert Advisor?
Expert Advisors are nothing but a trading program that performs prompt technical analysis of price data and manage to place orders automatically on basis of trading signals generated.
Here is a simple Moving Average Expert Advisor which simple technical conditions. Buy above the 10 period Moving Average and Sell below the 10 periods Moving Average.
Installaling the Expert Advisor
- Download the Simple Expert Advisor
- Unzip the Downloaded file Copy the relevant expert advisor files (.mq4 and .ex4 files)
- Open the Metatrader 4 -> Goto File -> Open Data Folder
- Navigate to Experts folder and paste the .mq4 and .ex4 files here
5)Once copy and pasted the ex4 files of the relevant broker files restart MT4 to use the Expert Advisor
Configuring Expert Advisor
Configuring Expert Advisor for automated trading is very easy. Just one has to drag and drop the Expert Advisor on top of the chart (i.e the symbol one needs to automate) and check the Allow Live Trading and Allow DLL imports under the common tab of Expert Advisor as shown below
Now go to the inputs tab and Configure the API Key, API secret key and other order related parameters from the input tab and press okie to kickstart automated trading
From the downloaded zip file, one can extend their trading ideas to build their own Expert Advisor and very soon more innovative expert advisors one can expert from the Algomojo Community.
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