Expert Advisors for MT4 - Examples

By: Molanis  09-12-2011
Keywords: Expert Advisors

Please note that these Expert Advisors were created for educational purposes and do not constitute any financial advice.

DUE TO MAJOR CHANGES IN DESIGN, PLEASE NOTE THAT DIAGRAMS MADE IN VERSION 3.14 ARE NOT COMPATIBLE WITH VERSION 3.15.

Before using the Expert Advisors, please read the following:

  • The examples use a basic logic and avoid trading using the current bar to reduce false signals and flickering.
  • If your broker is an ECN broker, go to the START icon, find the Buy/Sell orders include TP/SL option and change it to No. Otherwise you will get stop errors. With ENCs, the stops limits are placed after the order has been executed. Non ECN brokers accept the order and stops/limits at the same time.


0. Download all expert advisors in a zip file

1. Simple moving average

2. Multi-Currency Simple moving average

This EA is similar to the Simple moving average example above but it trades two currency pairs at the same time.

Tip: Use the Current Symbol option if you are not creating multi currency EAs - This way your EA will work on any currency pair.

Multi currency EAs CANNOT be backtested in MT4. It is not possible. This ea will work fine but backtesting results are misleading. MT4 can backtest one currency at a time. Thus create separate EAs for backtesting and then put them together for trading.

3. Multi-timeframe Simple moving average

This EA opens a long position when the fast moving average (timeframe 1 minute) is higher that the slow moving average (timeframe 1 minute) and the fast moving average (timeframe 5 minute) is higher that the slow moving average (timeframe 5 minute)  and vice-versa. Thus the ma conditions are evaluated in two different timeframes for a doble confirmation. Both conditions have to be true to open/close positions.

Tip: Use the Current Timeframe option if you are not creating multi timeframe EAs - This way your EA will work on any timeframe.

Multi timeframe EAs CANNOT be backtested in MT4. It is not possible. This ea will work fine but backtesting results are misleading. MT4 can backtest one timeframe at a time. The only way to backtest multi timeframe EAs is using MetaTrader 5.

4. Multi-timeframe Advanced Simple moving average

Similar to the previous example but this EA opens a new position looking at both the 1 minute and the 5 minute timeframe; and closes it evaluating the trading condition at the 1 minute timeframe.

Close Long (CL) and Close Short (CS) icons are used to close the position when the 1 minute chart shows a change in trend direction.


5. Moving Average Crossover

An MA Crossover is the change from MA slow>MA fast to MA slow<MA fast and vice versa. MA Crossovers can be defined in several ways. We use the definition from the MT5 article which reduces flickering.

6. Intersection of the Main and Signal Line of MACD

Buy signal: If the signal line crosses the main one from top downwards.

Sell signal: If the signal line crosses the main one bottom-up.

7. RSI indicator Overbuying/Overselling strategy

Buy signal: RSI  falls lower than a certain level (30) and then rises above it.

Sell Signal: RSI rises higher than a certain level (70) and then falls below it.

8. Exit from the Overbuying/Overselling Zones of CCI

Buy signal: CCI  falls lower than -100 level and then rises above it.

Sell signal: CCI  rises above 100 level and then falls below it.

9. Exit from the Overbuying/Overselling Zones of Williams Percentage Range

Buy signal: Williams %  falls lower than -80 level and then rises above it.

Sell signal: Williams % rises above -20 level and then falls below it.

10. Bounce from the Borders of the Bollinger Channel

Sell signal: If the price pierces or touches the upper border of the Bollinger band and then returns back, it is a signal to sell.

Buy signal: If the price pierces or touches the lower border of the Bollinger band, then it is a signal to buy.

11. Strategies that use custom indicators

12. Simple moving average with MetaTrader variables for the ma periods 

Simple strategy that uses 2 moving averages.

13. Simple moving average with next trade management 

Simple strategy that uses 2 moving averages and the new trade management feature so it behaves likes the the ma crossover example.

14. Moving average crossover with MetaTrader variables for the ma periods

A basic moving average crossover

Keywords: Expert Advisors

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