How to write a Forex Bot, New Forex Trading Robot Programming Documentation 2023

If you are knowledgeable and knowledgeable about the nature of the Forex market, creating Forex Bots to make money, to trade automatically is also a suitable solution for long-term investment. So how to write the most accurate Forex Bot, right below AZ Bank will provide specific instructions, from knowledge to implementation software.

What is a Forex trading bot?

Bot trade, also known as Forex Robot, is a software created based on certain rules, programming a Forex fully automated trading system. And Trade Bots will be pre-programmed to replace humans in trading on Forex platforms like MT4 and MT5.

The use of Forex Bots is increasingly popular, because traders without knowledge and time will not need to learn about the nature of the forex market , and do not need to follow the market to promptly issue profitable orders. best for yourself.

Advantages of using a Forex Bot

If you have programming skills, can write a self-trading Bot, there are many advantages for you. And here are the advantages of writing a Forex Bot:

Save time trading Forex

When using Bot trade Forex you will not need to spend time to monitor the market, technical analysis to trade because the software will automatically execute trades according to the calculations and pre-established principles. Very suitable for those who do not have time to trade and those who trade part time.

Don't miss a good opportunity

One of the advantages of Bot trading Forex is that it will help you trade quickly, without missing the best opportunity to buy and sell. When you go to bed, you don't have to worry about the price going up or down, or when you can't track the price.

Continuous trading

The difference of trading Bot with manual trading is that the trade bot trades continuously. Thus, you will operate continuously on the Forex market without being affected by the time difference, nor do you need to spend a lot of time here, you can use your time to do other things. 

Forex trading is not governed by emotions

Emotion is a factor that causes many traders to fail, but for Bot trading it is pre-programmed for trades, automatically executing when satisfactory. So whether you are sad or happy, stressed or not, it will not affect your trading in this market.

How to write a Forex Bot

For yourself to be able to create a complete Forex Bot for yourself to use or sell to others to make money is actually not easy, here are the necessary knowledge that Nganhangaz.com thinks you will have to do to create it. So 1 best automatic Forex trading software.

How to create a Forex Bot on Forex Robot Factory

Forex Robot Factory is an available software platform that will help you create specialized Forex trading software, this is the simplest way for you to create your own fastest automatic Forex trading tool.

How to create Bot trading on Forex Robot Factory

Step 1: Determine the required transaction parameters

Everyone needs to determine the parameters they need to include in their trading software, and those are the parameters you put in place in your Forex trading strategy. Usually there are factors like:

+ Forex Indicators

+ Conditions

+ Money management strategy

This means that you must visualize your trading demos, simulate your desired trading indicators and results including price, entry point, trading time, closing price. profit, stop loss price… all data must be simulated based on actual trading from your given strategy.

Step 2: Enter simulation data into the software

After having a simulation of the Forex trading strategy, everyone will proceed to enter those parameters into their software.

+ Everyone opens the software, then selects the Generator tab , at the Generator Input window - the input will set and select the favorite currency pair and transaction time. 

How to create a Forex Trading Bot

+ Strategy properties : Fill in the parameters of the lot, stop loss, pips and take profit orders 

+ Setting strategy:

Basically everyone needs to fill in all the parameters suggested in the generator box above. Then click “Start” to get started. This tool will help you to create automated trading software based on the created parameters.

Step 3: Edit the created strategy parameters

Forex Robot Factory helps you avoid over-optimization and prevent curve correction by using IS & OOS tests combined with Monte Carlo stress testing procedures. Then everyone edits their parameters. 

Reviewing which indicators have not been adjusted will be adjusted, and which have been, will not need to be adjusted.

Step 4: Once done everyone will export the created robot template to MQL4 and trade them on MT4 or MT5 

Basically Forex Robot Factory has a lot of advantages so that everyone can create a complete Bot trade, just need a little time to learn more about it, you will create a complete Forex Bot for yourself. In addition to Forex, you can also create bots to trade stocks and ETFs to today's standard trading platforms, which are MT4 and MT5.

How to program automatic Forex trading software with Bot Trality

Bot Trality is an automatic code generator that helps you to create complex and highly innovative algorithms in the most efficient way for yourself. Everyone can do the bot trading by themselves in the simplest way.

Steps to create a Forex Bot on Python:

Step 1: Select the Forex currency pair you want to trade

First, everyone needs to set up a code for themselves and clearly specify the currency pair they want to trade.

Step 2: Calculate metrics from data

+ Set up and create an exponential moving average (EMA), an average with a shorter lookback period of 20 candles and a longer moving average with a period of 50 candles. 

Code:

ema_short = data.ema(20).last

ema_long = data.ema(50).last

Step 3: Fetching the location for the icon

Step 4: Deal with buy or sell signals

Step 5: Put the code together

From the code you created above, people put it together into the longest complete piece of code. Then everyone proceeds to optimize and run the software.

Basically, the software to create this Bot trade is quite difficult, people themselves need time to research to be able to create a complete Bot trade. It is more optimal when you apply it to the cryptocurrency market.

How to Create a Forex Trading Robot on MQL5 Wizard

MQL5 Wizard is a tool to create Automated Trading Robots, it generates the best trading signals suitable for everyone's trading conditions and then automatically executes according to the given criteria. And if anyone trades Forex on the MT5 platform, this is the most suitable Bot trading tool

The steps to create a Forex Bot on MT5 are as follows:

Step 1 : Download Forex MT5 trading software to your computer.

After downloading the software, people open it up and select MetaEditor , then select New to launch the program for themselves. At the screen you select and click Next after selecting Expert Advisor (generate) 

Step 2: Right after that, you choose the parameters related to the trading strategy.

For example people create a trading Bot for EUR/USD

+ Instrument: EUR/USD

+ Time frame: H4

+ Indicators: Simple Moving Average with periods 21 and 89, MACD (12; 24; 9).

Step 3 : Proceed to create a Forex trading program

In that file, people can choose more indicators, edit technical indicators to suit their trading needs. 

+ periodMA you will choose Value as (21)

+ At MACD will choose period = 12, slow period = 24, and period signal = 9)

Basically, everyone needs to fill in all the parameters in the proposed window sheet.

Step 4: Set up money management rules

Here people will set as: 

+ volume – Fixed trading volume: 0.1 lots

+risk – Risk: 10%

Step 5: Check for errors and edit trading conditions

As soon as people set it up, it will display a complete long code similar to the image below. 

Step 6: Export the software and install it running in MT5:

+ Everyone will see on the screen the command “compile button” click on it. Thus your program file has been created.

+ Then people go to MT5's Navigator" to find and apply it running on their trading platform.

If people do not know which platform they should trade Forex on, they can check out the article Compare Forex trading platforms , to be able to create a suitable compatible Bot trade.,

Top easy-to-program Forex Robots for reference

If you do not know how to create a complete Bot trade, you can refer to the Bot trade samples below, then you will be able to review the Bot trade you have created for yourself. . Or you can choose to buy Bot trade from others to trade, not necessarily create Bot.

Here are some Forex Bot samples you can refer to to be able to determine how the Bot trade writing will be done.

If you have programming skills, you can write your own Bots and run it so everyone's Bots will work in their desired direction. This way is relatively difficult, because those who do not know about programming will not be able to do it.

Below will guide everyone the software that helps you to write the fastest and easiest Forex Bots to learn.

Forex Fury

One of the most well-priced Bot trades currently used by many people is For4ex Fury, this is a Bot trade created to support Forex traders who can do it on the MT4 or MT5 platform quickly.

With the advantage that users can change the parameters of take profit, stop loss, news filter, range filter, it is quite flexible, applicable to many different investment strategies at any time. in which you participate. With this trading software is guaranteed to win up to 93%, it is completely free to install, so everyone should try to consider the conditions of this Bot to create a similar Bot trade for themselves.

1000pip Climber System

1000pip Climber System is commented as one of the best FX Robots on the market today, foreign traders use it quite a lot. The performance of this software has been proven over a long period of time, and is rated for trading results with a high win rate. 

With a very clear interface, the features are designed to be easy to see, easy to use and especially full of trading conditions that are updated according to the fastest market trends. So if you want to have a Forex trading Bot with good conditions, this is one of the best reference Bots, the price to buy is not too high.

 Forex Gump

Forex Gump is a trading application that is considered to be quite good and worth a reference, although it is not as diverse as other trading software, but consider the conditions that this trading Bot includes in the set of conditions and rules. trading in accordance with the nature of the market, meeting the general trading psychology.

You can refer to this Forex Bot template for major Forex currency pairs, review and reuse the conditions, then adjust to suit your trading needs. However, this Bot trade is limited to only 9 currency pairs, so if you need a more diverse Bot trade, you should skip this software.

EA Builder

EA Builder allows users to create Forex Bots without being good at programming, it can be said that this is a good tool for you to create your own version of Forex Bot trading style. simplest individual.

With EA Builder, you have set up the basic features and conditions into an algorithm, you just need to enter the data you want according to the plan, then export it into a Bot trade and quickly install it into MT4 or MT5 platforms. all fine. So this is one of the most appreciated Bot trading templates for its flexibility, easy programming according to the investment needs of different individuals, and you can also create Bot trade for products. when investing in derivatives .

Your Own Forex Bot Programmers

If you don't want to use the available software, Forex Bot writing platforms, want to create a completely new Bot for yourself and can use it to make money to invest, apply a full refund to sell to people. Otherwise, here is some information to keep in mind.

Forex Bot software writing tools

First, everyone needs to find a coding platform, to program the Bot. And the software to write code is also quite a lot, but for flexibility, you can choose one of the following introduced platforms:

+ MetaTrader 4 (MT4)

+ MetaTrader 5 (MT5)

+ forexeadvisor.com

+ Robot forex hay Expert Advisor (EA)

Forex Bot programming knowledge

After you have determined the programming platform to create a Forex Robot, the knowledge of the code, the code, and the Forex trading strategy is what you need to supplement. And for learning to code it takes a lot of time, so everyone needs to be patient and study hard.

Nowadays there are many tutorials for writing automated Forex trading algorithms on the net, everyone learn and follow the instructions will be the solution faster. Those who already have the ability to code before, knowledgeable about programming, just need to learn more about the Forex trading strategy, to be able to put the trading rules and conditions into the Bot so that it runs properly with the trend. market orientation and own desires.

Free Forex Robot Download

Instead of buying Forex Bots or creating Forex Bots, people can learn and try Forex Robots for free. Although it is not effective, nor does it guarantee the same credibility as the Bot trades that spend money to buy, but at least people can understand how the Bot trades work.

Here are some free Forex Bot download links:

+ https://signal2forex.com/vi/product-category/free_download/

+ https://www.andreaforex.com/leads/

+ Download the “RoyalPrince_Scalper.ex5” expert advisor

However, for free Forex Robots, using it to apply in your trading should be cautious. And if you choose to buy Forex Robots, you should be careful, because the current scam is quite common, so find reputable places to buy.

With the above instructions on Forex Bot , everyone can better understand how to program trading robots. If you do not have enough knowledge of algorithmic programming, it is best to choose solutions to create automated Bot trade through available software, not programming. Or if you want to create a completely new version, hiring a Bot trade writer will be the best solution. 

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