Do you want to program an Expert Advisor (EA) for MetaTrader and do not know where to start? Here you will find all the information you need. Our intention is to explain the different options you have to develop a robot for MT4 and MT5. Do you want to learn how to program the EA by yourself? Or do you prefer a faster route by hiring Expert Advisor programming services? In any case, review all the possibilities so you can choose the one that best fits your goals.
Table of contents
Option 1 – Develop an EA by yourself (Long Path).
This is a good option if you are not in a hurry to program the Expert Advisor and if you want to save money. It is recommended to have some basic knowledge of programming. You must also separate some hours of your time to dedicate them to learn Expert Advisor programming. Otherwise, you will advance very slowly and it could take you a long time to develop a moderately functional MT4 trading robot.
Pros to program an Expert Advisor by yourself
- Economic. You will not have to invest any money to learn Expert Advisor programming.
- Independence. You will only depend on yourself to program your own MT4 trading robots.
Cons to program an Expert Advisor by yourself
- Time. It will take you much longer to learn how to code an EA than to hire MT4 professional services to do so.
- Possible mistakes. Most likely you will make many mistakes in the learning path. If you take precautions, these errors will not harm your trading.
Free programming resources:
These are some of the free resources to start learning how to program your own MT4 robot.
- Creation of a Normal MT4 Program: this can be a good starting point for those with programming skills. If not, it would be recommended to start from the beginning with MQL4 book.
- The source code of EA programs: it is very important to explore examples of other Expert Advisors to see how other MT4 programmers implement different solutions. Here you will find many MT4 EA programs that you can download for free.
We must highlight that there are also other ways to program your own MT4 robot:
Using the MQL4 Wizard. This is already integrated in MetaEditor. It is quite simple and intuitive but it also requires a minimum of MT4 programming knowledge.
Searching the web for an EA builder. These are applications —almost always online— that help to code MT4 robots to those without MT4 programming skills. There are several available out there. However, they are limited to the use of MetaTrader built-in indicators. That is, they do not allow the implementation of MT4 custom indicators in the EA. Nor do they work to develop trading logic with a certain complexity. On the other hand, and not least, in almost all you will have to pay to develop your MT4 trading robot.
Option 2 – Hire professional Expert Advisor programming services (Short Path).
Without a doubt, this is the most appropriate option for those who need to code an EA with higher quality guarantees. In addition, it would considerably shorten not only the development time of the robot but also any other modification or improvement required by the program. Logically, these advantages would entail a cost.
Pros to hire professional EA programming services
- Time. You will get finished your trading robot in a much shorter time frame than if you decide to learn to program from scratch. Also, keep in mind that an Expert Advisor almost always requires updates. This will imply additional time, which will be much shorter if the improvements are implemented by professional MT4 programmers.
- Quality. Being pro MT4 programmers, you will have more guarantees that the EA will work correctly. This will make it easier for the Forex trader to devote most of their time to perfecting the logic of his trading rather than dedicating it to developing and correcting the automated MT4 program.
Cons to hire professional EA programming services
- Costs. Outsourcing this type of programming services will involve a cost that will depend to a large extent on the complexity of the Expert Advisor to be developed.
- Dependence. By hiring external MT4 programmers to develop your robot, you will depend on them to develop and update your Expert Advisor.