How to write robot with mql5 for MT4

The MQL5 language is meant for trading strategy development, therefore writing a MetaTrader 4 robot or EA in it requires programming. Example code is provided for creating a simple EA. Your code should be compatible with MetaTrader 4 if that’s your desired platform as MQL5 is mostly utilized for MetaTrader 5.

Writing a MQL5 MetaTrader 4 Robot

Steps Basic:

Start MetaEditor to create and build MQL5 code. You may access it using MetaTrader.

Create an EA in MetaEditor. You may code your strategy using this template.

MQL5 syntax resembles C++ for EA programming. Work mostly in the OnTick() method, which is invoked when a quotation arrives.

An Example Code:

This basic EA creates a purchase order when the previous closed bar is bullish and a sell order when bearish.

//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
  {
   //---
   return(INIT_SUCCEEDED);
  }
//+------------------------------------------------------------------+
//| Expert tick function                                             |
//+------------------------------------------------------------------+
void OnTick()
  {
   // Define the size of the order
   double lotSize = 0.1;

   // Get the number of bars on the current chart
   int bars = Bars(_Symbol, _Period);

   // Check if there are at least two bars
   if(bars < 2)
     return;

   // Get the close price of the last two bars
   double lastBarClose = Close[bars - 1];
   double previousBarClose = Close[bars - 2];

   // Check the trend and open orders accordingly
   if(lastBarClose > previousBarClose) // Bullish trend
     {
      // Open a buy order
      OrderSend(_Symbol, OP_BUY, lotSize, Ask, 3, 0, 0, "Buy Order", 0, clrNONE);
     }
   else if(lastBarClose < previousBarClose) // Bearish trend
     {
      // Open a sell order
      OrderSend(_Symbol, OP_SELL, lotSize, Bid, 3, 0, 0, "Sell Order", 0, clrNONE);
     }
  }
//+------------------------------------------------------------------+

Points to Remember:

Always backtest your EA on past data to evaluate its performance.

Risk Management: Protect your wealth with strong EA risk management standards.

Debugging: Fix code issues using MetaEditor’s debugger.

You may tweak your EA for improved performance using MetaTrader’s strategy tester.

Conclusion:

Writing a MQL5 EA involves programming and trading strategy knowledge. This example is simple, but real-world EAs use complicated algorithms and risk management criteria.