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Create Expert Advisor (EA)

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Create Expert Advisor (EA)

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On MetaTrader4 (MT4) / MetaTrader5 (MT5), you use a programming tool called MetaEditor and a dedicated language called MQL4 or MQL5 to create an Expert Advisor (EA).

Here we will look at how to create an Expert Advisor (EA) on MT4/MT5.

Switch between MT4/MT5 tabs to check the steps for each.

mt4
mt5

Step 1

Click "Tools" in the menu and select "MetaQuotes Language Editor".

Open Options Open Options

Step 2

MetaEditor will be launched. Click the "New" button in the menu.

Launch MetaEditor Launch MetaEditor

Step 3

Select "Expert Advisor" and click "Next".

Create an Expert Advisor Create an Expert Advisor

Step 4

Enter the Expert Advisor (EA) name, author, and link to display. Configure the parameters as necessary and click "Next".

The properties settings for an Expert Advisor The properties settings for an Expert Advisor

Number

Item name

Descriptions

1

Name

Enter the name of the Expert Advisor (EA) that you create.

2

Author

Enter the author of the Expert Advisor (EA).

3

Link

Enter the link to display.
point Name and author will be displayed in the settings

The registered name, author, and link information will be displayed on the Expert Advisor (EA) settings window.

Step 5

Set event handlers, which are the functions that are called if certain conditions are met.

Set event handlers Set event handlers

Number

Item name

Descriptions

1

OnTrade

OnTrade is a function that handles changes to orders, executions, positions, and trade history when a trade is executed.

2

OnTradeTransaction

OnTradeTransaction is called by the Expert Advisor (EA) when a TradeTranscation event occurs to process the execution result of a trade request.

3

OnTimer

OnTimer is a function that runs at a specified time interval.

4

OnChartEvent

OnChartEvent is a function that handles events on a chart. It is executed when an event occurs on a chart, such as creating, deleting, moving, or editing an object.

5

OnBookEvent

OnBookEvent is a function that handles the changes in the depth of market data.

Step 6

Set tester event handlers, which are the functions that are called if certain conditions are met.

Set event handlers Set event handlers

Number

Item name

Descriptions

1

OnTester

OnTester is a function used for formulas to calculate optimization results in the Strategy Tester.

2

OnTesterInit

OnTesterInit is a function that executes the initialization of the Expert Advisor (EA) when starting optimization in the Strategy Tester.

3

OnTesterPass

OnTesterPass is a function that executes data processing during optimization by the Strategy Tester.

4

OnTesterDeinit

OnTesterDeinit is a function that executes data processing after optimization by the Strategy Tester.

Step 7

Write an MQL4 program.

Write MQL4 program Write MQL4 program
knowledge MQL4 vs MQL5

MQL4 and MQL5 have some similarities, but they aren't compatible with one another. MQL4 is similar to C, while MQL5 leans more towards C++. Please note that you won't be able to use Expert Advisor (EA) for MT5 in MT4.

Step 8

After writing the MQL4 program, click the "Compile" button on the menu.

Compile Compile
point If a compile error happens

You will get a compile error as shown below if, for example, the syntax of your code is incorrect.

Compile error Compile error

Missing semicolons and using full-width space are the two most common mistakes made when coding. If you get a compile error, please check these first.

Step 9

After the compilation, the Expert Advisor (EA) created will appear in the designated folder in the Navigator.

Compilation completed Compilation completed

Step 10

Close the MetaEditor and go back to MT4. Check that the Expert Advisor (EA) created is in the Navigator on MT4.

The Expert Advisor is in the Navigator The Expert Advisor is in the Navigator

Step 1

Click "Tools" in the menu and select "MetaQuotes Language Editor".

MetaQuotes Language Editor MetaQuotes Language Editor

Step 2

MetaEditor will be launched. Click the "New" button in the menu.

MetaEditor MetaEditor

Step 3

Select "Expert Advisor" and click "Next".

Expert Advisor Expert Advisor
point "Template" vs "generate"

If you select "Expert Advisor (template)", only the minimum fields will be filled out, such as the name of the Expert Advisor (EA), copyright, parameters, and functions. If you select "Expert Adviser (generate)", it will contain the items mentioned above, as well as the source code of indicators that come with MT5 by default.

Step 4

Enter the Expert Advisor (EA) name, author, and link to display. Configure the parameters as necessary and click "Next".

Configure the parameters Configure the parameters

Number

Item name

Descriptions

1

Name

Enter the name of the Expert Advisor (EA) that you create.

2

Author

Enter the author of the Expert Advisor (EA).

3

Link

Enter the link of the Expert Advisor (EA) to display.
point Name and author will be displayed in settings

The registered name, author, and link information will be displayed on the Expert Advisor (EA) settings window.

Name and author will be displayed in settings Name and author will be displayed in settings

Step 5

Set event handlers, which are the functions that are called if certain conditions are met.

Event handlers Event handlers

Number

Item name

Descriptions

1

OnTrade

OnTrade is a function that handles changes to orders, executions, positions, and trade history when a trade is executed.

2

OnTradeTransaction

OnTradeTransaction is called by the Expert Advisor (EA) when an event occurs to process the execution result of a trade request.

3

OnTimer

OnTimer is a function that runs at a specified time interval.

4

OnChartEvent

OnChartEvent is a function that handles events on a chart. It is executed when an event occurs on a chart, such as creating, deleting, moving, or editing an object.

5

OnBookEvent

OnBookEvent is a function that handles events on the Depth of Market. It is executed when the Depth of Market is updated.

Step 6

Set tester event handlers, which are the functions that are called if certain conditions are met.

Tester event handlers Tester event handlers

Number

Item name

Descriptions

1

OnTester

OnTester is a function used for formulas to calculate optimization results in the Strategy Tester.

2

OnTesterlnit

OnTesterInit is a function that executes the initialization of the Expert Advisor (EA) when starting optimization in the Strategy Tester.

3

OnTesterPass

OnTesterPass is a function that executes data processing during optimization by the Strategy Tester.

4

OnTesterDeinit

OnTesterDeinit is a function that executes data processing after optimization by the Strategy Tester.

Step 7

Write MQL5 program.

MQL5 program MQL5 program
knowledge MQL4 vs MQL5

MQL4 and MQL5 have some similarities, but they aren't compatible with one another. MQL4 is similar to C, while MQL5 leans more towards C++. Please note that you won't be able to use Expert Advisor (EA) for MT4 in MT5.

Step 8

After writing the MQL5 program, click the "Compile" button on the menu.

The Compile button on the menu The Compile button on the menu
point If a compile error happens

You will get a compile error as shown below if, for example, the syntax of your code is incorrect.

**** ****

Missing semicolons and using full-width space are the two most common mistakes made when coding. If you get a compile error, please check these first.

Step 9

After the compilation, the Expert Advisor (EA) created will appear in the designated folder in the Navigator.

The Expert Advisor (EA) created will appear in the designated folder in the Navigator The Expert Advisor (EA) created will appear in the designated folder in the Navigator

Step 10

Close the MetaEditor and go back to MT5. Check that the Expert Advisor (EA) created is in the Navigator on MT5.

The Expert Advisor (EA) created is in the Navigator The Expert Advisor (EA) created is in the Navigator

Date

Created

 : 2022.10.11

Update

Last updated

 : 2024.08.28

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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