Best Free EA for MT5

Looking for the best free EA for MT5? You’ve come to the right place. We develop software that trades as a portfolio across many Forex pairs, Share CFD’s, Index Markets and more to ensure your risk is as low as possible for the desired results to safely be achieved.

So that the EA is not overused in the markets, we do not provide them on tap to download. This is to reduce the risk of overtrading at the same time across the markets, which could potentially cuase a negative impact. If you want to check out our free EA’s, head over to the Trading Robot page. We provide successful EA’s for free, if you ask nicely 🙂 

How to create an Expert Advisor MT5

Creating an expert advisor for your MT5 trading account is easy enough in principle. All you need to do is open the MetaEditor, which is downloaded when you get your platform. Then you click on File, then create New. You want to choose the Expert Advisor (template) and then click next all the way through. You can then start to code your project!

Writing the code can be a bit tricky for beginners. Google your needs and select the MQL5 website to help guide you on what functions there are etc. As an example, you might want to use a Bollinger Band to measure something and perhaps trade it. You might google, “Bollinger Band MQL5” to find out more. The other thing you could do in this case, is type “iBands” in your MQL5 editor and then press F1 to bring up the help menu. The help menu tells you the function parameters you need to use to fill out the iBands function. Once you have coded everything, simply press ‘Compile’ to compile your MQL5 source code.

Once you have written your code for your MT5 algorithm EA, you can apply it to a chart to use it. You should be able to see it in your Navigator (you may need to right click in your navigator and refresh it) and drag and drop it onto any chart you want it on. It will run in the background, however it will not trade unless you Allow Automated Trading by clicking the Allow Automated Trading button in the top toolbar area of your platform. 

Below is a sample EA that you can copy and paste. It is not complete and will not be worth trading with, but it is a good start to placing an order based on a Bollinger band system. It will place trades until it runs out of money as it is only an example to get you started with something that works. 

It contains examples of the following items:

Date and time usage (datetime)

Placing Orders

Arrays

Indicators (Bollinger Band)

A working version of CopyBuffer

Magic Numbers and setting them to your trades.

Enjoy!

Sample EA to Copy and Paste to MetaEditor

//+——————————————————————+
//| SimpleTestExample.mq5 |
//| Copyright 2019, MetaQuotes Software Corp. |
//| https://www.mql5.com |
//+——————————————————————+
#property copyright “Copyright 2019, MetaQuotes Software Corp.”
#property link “https://www.mql5.com”
#property version “1.00”

#include<Trade\Trade.mqh>
CTrade trade;

int TSMM = 0;
int WeeklyBollinger;
double Ask = 0.0000;
double Bid = 0.0000;
int MagicNumber = 1114;
double WBol [];
double StopLoss = 0.00;
double Target = 0.00;
double WBolo [];
double LotSize = 0.01; //Change lotsize calc once done testing for topstep
input double Width = 2.8;
int Highest = 0;
int Lowest = 0;
double HP = 0.00;
double LP = 0.00;
double WB = 0.00;
double WBo = 0.00;
ENUM_TIMEFRAMES TimeFrame= PERIOD_M5;


//+——————————————————————+
//| |
//+——————————————————————+
void OnTick()
{
// Minute
MqlDateTime TripleSwapMin;
TimeCurrent(TripleSwapMin);
TSMM = TripleSwapMin.min;

if(TSMM>=0)// Time for actions
{
Ask = NormalizeDouble(SymbolInfoDouble(Symbol(), SYMBOL_ASK), _Digits);
Bid = NormalizeDouble(SymbolInfoDouble(Symbol(), SYMBOL_BID), _Digits);
ArraySetAsSeries(WBol, true);
ArraySetAsSeries(WBolo, true);
WeeklyBollinger = iBands(Symbol(), TimeFrame, 20, 0, Width, PRICE_CLOSE);
CopyBuffer(WeeklyBollinger, 1, 0, 3, WBol); //upper band
CopyBuffer(WeeklyBollinger, 2, 0, 3, WBolo); //lower band
WB = WBol[0]; //High Band of current candle
WBo = WBolo[0]; // lower band
StopLoss = (Bid*0.02);
Target = (Bid*0.01);


// Action set
if((Ask>WB))
{
trade.SetExpertMagicNumber(MagicNumber);
trade.Sell(LotSize, Symbol(), 0, (Bid+StopLoss), (Bid-Target), “Short”);
}

if((Ask<WBo))
{
trade.SetExpertMagicNumber(MagicNumber);
trade.Buy(LotSize, Symbol(), 0, (Bid-StopLoss), (Bid+Target), “Long”);
}
}
}

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EA MT5 Developer

It is costly in both time and money to learn how to code trading algorithms. And that’s excluding the whole finance and trading learning experience! If you’re looking for more in-depth help, Global Finance Trading is happy to assist you in learning how to code and understanding the financial markets in more detail. 

Want to Hire an MT5 Developer?

If you’re not quite there with learning how to code, or you just want something done now, hit us up and we will see if we can get your trading system automated for you! We have developed hundreds of different expert advisors and tested thousands of combinations and strategies over the years. Hire an MT5 Developer to get your system running on autopilot so you can sit back and relax. 

Depending on your needs, we can create an MT4 or MT5 expert advisor for you. Send us an email on your requirements and we will advise you if we can assist and if we can’t we can let you know the next best option to get your needs met.

MT5 Trading Robots

MT5 trading robots have some pretty amazing features that took years to work out. Whether you want to create your own portfolios or get us to help you out, creating MT5 trading robots is a great experience. There’s lot’s to learn about the markets and one of the best ways is to use automation and MT5 trading robots are great for automating your testing and trading.

MT5 Strategy Tester

The strategy tester is a way you can automatically backtest your trading systems. It can take a bit of time but if you are in a hurry, you will probably want to deselect the ‘visual backtest’ option before pressing start! 

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