Petko AleksandrovRobot Trading Software: The Key to Algo trading
Robot trading software is the easiest way to build Expert Advisors and to automate strategies as Expert Advisors. At Trading Academy platform you can learn a lot – we have our courses, we have a blog that is absolutely free, the forum where you can ask any questions or meet fellow traders, there are very experienced traders there as well.
It is absolutely free if you want to ask any questions, and as well we have the software section where we have integrated 2 software programs for algorithmic robot trading.
One is Expert Advisor Studio, the other one is Forex Strategy Builder.
What is Expert Advisors Studio?
Expert Advisor Studio or EA Studio is a robot trading software that sees a sudden rise in demand and is used to create and backtest trading robots for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
The robots, also known as Expert Advisors (EA), trade automatically by following the parameters that you specify. Moreover, when the position is open, the EA can follow many close conditions including stops, trailing stops, and stops.
You can, for example, use EA Studio robot trading software to generate trading robots for many markets and assets. Most traders use EAs mainly for foreign exchange trading. However, you can use robots to trade with cryptocurrencies, commodities, stocks, and etc.
How does the robot trading software work?
Expert Advisor Studio works by enabling you to set the parameters by which the robot opens and closes positions – using lots of yes/no instructions to launch trading options. The software allows you to create a trading robot by yourself or import an EA created by another person.
By combining sets of yes/no instructions in a complex numerical model, the EAs can implement improved trading systems, using the computational ability to report – and track them – instantly.
With EA Studio traders can backtest their trading systems against real historical data and see the graphs and details about this robot. You can create as many Expert Advisors as you need for your MetaTrader instance.
EA Studio is the fastest and most reliable robot trading software on the market. It is the result of 20+ years’ participation in making high-quality technical programming. It generates trading strategies written in 100% local MQL code. The program does not require external code and is integrated into MetaTrader without errors or warnings.
How EA Studio helps you win
Solitary expert Advisor can flounder in real economic situations. We make systems arrangements for each market (suppose 2, 5, 10) and put them all for trading at the same time. This is simply due to the severity of EA Studio. At the end of the week (or any other pre-defined period), we evaluate the presentation. Everything is equal. We fire those who fall and replace them with new ones we just made. We do not rely on a sole expert or a solo market because our own trading frameworks do not bound us.
Getting Started with Expert Advisor Studio
So these are professional programs that we use to create Expert Advisors and to automate strategies as Expert Advisors without programming skills. I will click on the first one, Expert Advisor Studio. So this Robot trading software is created by a third party company and we have integrated it on our website so it’s easier for our traders and students to use it.
And I have made actually a free course on how to use it.
So all of the videos are free if you want to get into more details about this algorithmic Robot trading software. And, actually, you can use it for free as long as you want. You can generate strategies, you can analyze strategies, I will show you this later.
Enjoy a 15-day free trial for the Robot Trading Software
What you need a license for is when you are exporting the strategies as Expert Advisors, I will show that. And, actually, there is a 15-day free trial which you can use. During these 2 weeks, you can export as many Expert Advisors as you wish.
There is no limitation so it’s a great experience, I believe, for everybody if you just want to create your own strategies, test how it’s working, and basically work with such professional Robot Trading software will give you a much brighter idea of algorithmic trading. And it will bring you some new skills and knowledge for sure.
So let me just log into my account and I will go quickly over this software. There are many languages which you can switch to, of course, and as well on our website, we are working on translations now and having our courses translated.
As well, we are working on the captions a lot. So what is the basic idea of this Robot trading software?
The basic idea is that if you have a strategy, you can automate it as an Expert Advisor. For example, you can see below the strategy that I demonstrated to you in the previous lecture.
I have the RVI Signal, the Stochastic, and the Awesome Oscillator as an exit rule. On the right side, I see the Balance chart and on the left side, I have the Indicator chart.
Indicator chart in the Robot Trading Software
So if I click on it, I see details about where the trades were opened, where they were closed. We have a sell order. The RVI crosses the signal line downwards and at the same time, we have the Stochastic rising which we said is the entry for a sell.
The trade is open up to this moment.
So if I scroll it more on the left side, there are many different orders and executed trades. For example, we have a long trade. So if I have a green line below the chart, it means I’m in a long trade.
And if it is red like what we saw previously, we are in a sell. So when we have a buy, RVI crosses the signal line upwards, and Stochastic falls,
And this is what I told you when we are looking at the chart, it’s really hard to say if it is rising or if it is falling at a certain moment. But when we have the backtest, it is very clear to see where the trades open and close. As well, we have the Balance chart where we have different graphs and statistics,
and the Journal which is very same with the Meta Trader.
The backtest is what makes the Robot Trading Software unique
This is what I really like about the Robot Trading software, we can see so many statistics from the backtest output where we can see things like Average position length, Bars in trade, and Maximum consecutive losses.
So we have just 3 Maximum consecutive losses with this strategy which is a little bit more of an advanced thing. And we have Maximum stagnation, Sharpe ratio, Win/loss ratio, and many other things.
We can see how this strategy performs during certain days, during the week, or how it goes by profit and loss in currency by weekdays.
As well, we have the Profit and loss in currency by hours. So this strategy is more active in the afternoon. This is like at the end of the London session and the beginning of the New York session with me.
And then we have the Profit and loss by exit out. So this is by entry hour, and on the right side is by exit hour. We have a Count of entries, profits, and other statistics which are very useful.
The indicators in the Robot trading Software
So what I was saying is that if you want to automate your strategy, simply you can place your indicators. I can put any other indicator and if I click on Accept, I see immediately the change in the Balance chart on the right side which is very useful. And if I remove any of the indicators, there is a dramatic change.
So you can put your Stop Loss, Take Profit, everything that you have in your strategy and you will automate it.
This saves a lot of time compared to manual trading because if you have a certain strategy in manual trading and you want to test it, you will spend a couple of months to see if this strategy is profitable or not. And if it’s not you will just be losing your time.
While if you use such a Robot trading software, you put your strategy here, and you will see if this strategy is actually profitable or not. And, as well, here we have the chance to optimize the strategy, to use the Normalizer, something I will talk about in a separate lecture, and many other tools which give us the best parameters of the indicators.
You don’t need programming skills for you to code the strategy
As you saw, for example, I’m using the RVI with a period of 13.
And if I just close the RVI signal and I put it again, you will see which is the parameter by default. RVI signal, a period of 10.
It’s not 13. So the software shows us which parameters of the indicators work best. After you build your strategy, with one click you can export the Expert Advisor for Meta Trader 4 or for Meta Trader 5.
This is why I said you don’t need to have any programming skills. You need to open it with the MetaEditor and here it is.
This is the code of the Expert Advisor so you don’t need really to code this strategy by yourself. You don’t need to be a developer and you don’t need to hire developers which is the thing I was doing before I found out about the Strategy Builders and these 2 algorithmic Robot trading software.
So it is really easy to export the strategy as Expert Advisor, it is just one click. Of course, it takes some time to get used to the program and to learn how to build profitable strategies, and most importantly robust strategies that remain profitable longer in time. Now, if you don’t have any trading strategy in mind, if you’re just starting trading, you can use the Generator.
The Generator in the Robot Trading Software
This is a powerful tool in Expert Advisor Studio which will create strategies for you. But in order to use it, you need to export the historical data of your broker. For example, below I have much data from different brokers.
Please don’t take any of them as a recommendation, I just have imported them right here.
Thank you very much for reading and if you have any questions, of course, let me know at any moment.
Cheers.
