Popular Expert Advisor Building Tools - The Good Men Project

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Popular Expert Advisor Building Tools - The Good Men Project

Popular Expert Advisor Building Tools - The Good Men Project

Posted: 26 Jun 2020 06:23 PM PDT

An EA builder by definition is a software tool that allows the traders to create an Expert Advisor without the knowledge and skills required for coding and programming.

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Are you a foreign exchange trader who wishes to automate their trading strategy? But does not have any programming skills to make such a thing happen? You are basically one of those people who find it difficult and almost impossible to learn a programming language like MQL4. And also has crossed out the thought of hiring a programmer because you have no intention of sharing your trading strategies with anyone. For such needs, you must turn towards considering using an Expert Advisor builder. This is the most ideal solution in order to automate trading strategies with the utmost privacy.

What is an EA builder?

An EA builder by definition is a software tool that allows the traders to create an Expert Advisor without the knowledge and skills required for coding and programming. Traders often start to look for these EA builders when they wish to automate their trading strategies. Its main purpose is to help you create custom indicators and EA without programming skills and generate code for different trading platforms including TradeStation, jForex, MetaTrader 4, MetaTrader 5, etc.

One must not forget that EA builders may be easier than coding but they are at the end complex software tools which require getting familiar with. The good news is that most quality EA builders come with useful learning materials and easy to follow video tutorials and books for your convenience.

Here are some of the most famous and best EA builder tools:

1. Forex Strategy Builder Professional– Forex Strategy Builder Professional or FSB is one of the top Forex EA builders or tools that allow the creation of Expert Advisors without demanding programming and coding skills. It is a powerful EA building tool for MetaTrader 4 and MetaTrader 5 trading platforms that comes with a 15 day free trial period. After that must buy this tool in order to continue usage. One of the most attractive features of this tool is that it can not only build but test, analyze, and optimize your strategy. It also makes it possible to trade via the MetaTrader platform directly from the application.

2. Visual jForex Strategy Builder- jForex is a highly advanced and intuitive trading platform suited for both manual and automated trading that be conveniently used by beginners and experienced traders. But it is also a high-quality EA builder at the same time. It can be used to build custom indicators and trading strategies that are created in the Java programming language.

3. FX EA Builder- This is another exceptionally good Expert Advisor builder and very much popular. FX EA Builder is very user-friendly and simple to use. It is a web-based EA building tool which is available for free usage and can be used to create robots for the MetaTrader 4 platform.

4. EA Builder- EA Builder is a web-based tool or application that allows you to create complex Expert Advisor programs and custom indicators for MetaTrader 4, MetaTrader 5, and TradeStation in just a few clicks. The full version of the tool comes at a cost of $97 but you can use the free version as well since it is totally functional for creating custom indicators.  This tool is great for beginners as well as seasoned traders as it can help boost the program development process. EA Builder can also create robots for binary options trading. Strategies using EA Builder can be created for Forex, Commodities, and stocks.

5. Molanis Strategy Builder– Molanis Strategy Builder is designed for the MetaTrader platform. It provides a highly instinctive and innate graphical environment with a comprehensive set of predefined trading blocs which allows you to build Expert Advisors and Forex signals in a few minutes. Its full version comes at the price of $250. Using this tool you can create custom indicators at a rapid pace without any coding requirement. Its leading-edge code generation creates all the code for MetaTrader. It also allows you to test your trading ideas in minutes. This was you get to keep your trading strategies and indicator ideas to yourself.

6. Forex Generator- Forex Generator is free to use the EA building tool available for your desktop. It entirely supports both MetaTrader 4 and MetaTrader 5. It allows the rapid creation of custom indicators, Expert Advisors, and trading scripts. Forex Generator is also appreciated for its ability to allow traders to import their own or custom third party indicators.

7. EATree- This is a quality EA builder for MetaTrader 4 and MetaTrader 5 and made specifically to help traders who have no programming knowledge. This tool is efficient and does not require you to know coding language but it also helps you to learn the MQL coding language if you are interested. All of your data is kept secret and private and the development process of EA is speedy and ready within minutes.

8. Expert Advisor Studio– Expert Advisor Studio is a web-based tool that is one of the fastest and most reliable when it comes to testing and creating custom indicators and Expert Advisors. It comes with a free trial of 15 days and then you will have to make a purchase of $1290. You can use this tool from any device with an internet connection such as your desktop, laptop, tablet, phone, etc. EA Advisor Studio makes it as easy as just one click to export built, tested, and analyzed Forex strategies as Expert Advisors. It carries out a back-test of the strategies against real historic data and shows statistics and charts.

9. EA Builder Pro– EA Builder Pro is a free to use web-based online tool for creating indicators and strategies for both the MetaTrader platform.

So, it is best if you start exploiting such ingenious tools for building EA so that you can do it without the knowledge of coding, yet enjoy the perks of an EA and automated trading strategies.

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This content is sponsored by Hunain Ansari.

Photo: iStockPhoto

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