Forexeadvisor.com Review Online Forex Expert Advisor Generator

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Generator for forex trading expert advisor systems compatible with
all forex brokers offering the MetaTrader 4 ( MT4 ) trading platform

Welcome to the Expert Advisor Generator

The forex market is one of the most dynamic markets on the planet. Unfortuatelly 95% of the traders loose their money. This is mainly because they don’t have good tested trading strategy.

On the other hand having a strategy, means that you have clear rules about every market situation. And when the rules are clear this trading system can be automated. There are many advantages for the automated systems like – 24 hours trading, reaction speed,monitoring huge numbers of financial instruments in different timeframes, the ability to backtest the system and many others.

Automating a trading system is difficult because it requires program skills which most of the traders don’t have. With this Expert Advisor builder such skills are no longer needed.

In our big experience creating automated trading systems, we have found that usually simple things work. With every rule you add , you optimize your results in the past, but this will give you worst results in the future.So our advice is – keep things simple.

Now lets create simple trading system for example.To begin we need four basic things :

  1. When to open long position?
  2. When to close long position?
  3. When to open short position?
  4. When to close short position?

Lets say we have this basic strategy:

  1. We open long position when Rsi (Relative Strength Index) crosses 30.
  2. We open short position when Rsi (Relative Strength Index) crosses 70.
  3. We don’t have exit rules , we have 50 points of StopLoss and 50 points of Takeprofit.

Now we need to open the first tab Open Buy and we choose this :

This basically means this if the pre previous value of RSI is less than 30 and previous bar is closed with value for RSI over 30 , we have our open long condition.

The same we do for sell:

We skip Close buy and Close Sell and go directly to Settings tab.

We set StopLoss 50 points and TakeProfit 50 points. We want advanced MM so we check that option. Now we go to the last tab and press the Generate button. Now all we need is to copy the code and paste it in the MQL Editor, compile it and start using it.

Forexeadvisor.com Review: Online Forex Expert Advisor Generator

Online Forex Expert Advisor Generator Review: this is the name of a Forex EA generator online that helps create trading systems. Is forexeadvisor.com legit or a scam?

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What Are Forex Signals or Indicators?

Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.

Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.

On the page, the vendor explains that strategy means rules that traders use while in some market situations. Having a strategy that is clear can allow it to be coded or automated. Although automating a trading system is difficult because it requires programming skills, the Expert Advisor builder offered by Online Forex Expert Advisor Generator takes care of that problem.

It is totally in character for Forex EA vendor to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.

How Online Forex Expert Advisor Generator Works

Like have been discussed above, automating a trading system with this vendor only requires knowing what rules to apply in certain market situations. To begin creating a trading system, the page offers 4 basic questions which answers help to automate their strategies.

The Online Forex Expert Advisor Generator offers an example of how the systems can be set up using their template. We have the following pictures explain how the following 3 basic strategies can be set up:

1. Open long position when Rsi crosses 30.
2. Open short position when Rsi crosses 70.
3. (No exit rules) 50 points of SL and 50 point of TP.

After the rules are set up as shown in the pictures above, a trader can go to the last tab and press the “Generate” button. Then they can copy the code, paste it in the MQL Editor, compile it and start using. The process seems quite simple and straightforward.

On the page, a link is provided where clients can start automating their trade rules. It is compatible with only MT4 platform.

Online Forex Expert Advisor Generator Pricing Structure

We find no price information and could access the generator page for free.

Clients Feedback

There is no review from clients available anywhere. With the page not looking new, we expected some reviews online and are disappointed to find none.

Online Forex Expert Advisor Generator Support

To reach the customer care representative of the vendor, clients are directed to fill an online message request form.

Conclusion

The information presented on Online Forex Expert Advisor Generator page is well detailed and straightforward. The lack of price seems to mean it is free which will be an added advantage. Testing the “Generator” page seems to work and since they are not required to pay, traders can test it out.

Automate Your Forex Trading

Since most Forex trading strategies contain common elements: opening positions, closing positions, trailing stops, signals, etc. generator creates Expert Advisor, Script or Custom Indicator with those common components for trading Forex markets. Press Generate menu and your EA, Script or Custom Indicator is ready.

Test your ideas before you hire someone to program Expert Advisor, Script or Custom Indicator for you.

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Forex Generator

  • Full support for MetaTrader 4 and MetaTrader 5.
  • No programming required for most setups.
  • Create both Expert Advisors (EA), Custom Indicators and trading Scripts.
  • Setup order opening signals via build-in or custom indicators.
  • Import your own or custom third party indicators.
  • Set order execution: take profit, stop loss, trailing stop, etc.
  • Limit opening of new orders to specific days of the week.
  • Set hours when Expert Advisor should open new orders.
  • Limit Expert Advisor to work only when spreads are less than set value.
  • Setup second order with different take profit, stop loss, etc. Mainly used for break-even trading scenarios.
  • Option to close orders if opposite signal has been received.
  • Martingale and Semi-Martingale risk management.
  • Include your own custom code into the diagram.

Block Editor

  • This is free companion add-on product for Forex Generator.
  • Create your own building blocks and use them in Forex Generator.
  • Build your own library of advanced blocks.
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