Expert advisor on MT5 – best expert advisors for MT5
Key Takeaways:
Expert Advisors (EAs) in MetaTrader 5 offer automated solutions tailored to traders’ preferences and strategies, enhancing their trading experience.
MetaTrader 5 is a versatile trading platform that caters to various asset classes, including Forex, stocks, indices, and CFDs.
EAs like Apollo, Hera, Zeus, and Ultima bring diverse trading strategies to the table, allowing traders to capitalize on market opportunities.
Creating custom EAs in MetaTrader 5 is possible using the MetaQuotes Language Editor, enabling traders to tailor automated strategies to their needs.
Have you recently considered where to find an Expert advisor on MT5? Why consult experts in this industry to find the best solution for MetaTrader 5?
First, Expert Advisors (EAs) represent specialized software programs or segments of code. When added to MetaTrader 4 and MetaTrader 5, they allow traders to use automated methods for forex trading.
Every Expert Advisor has distinct characteristics tailored to each user’s preferences and requirements. But what should you know before finding the perfect Expert advisor MT5?
Let’s get more information about it, shall we?
MetaTrader 5 as a leading trading platform – All Info
MetaTrader 5, a popular trading platform, launched in 2010, changing the trading world with its flexible features. This platform caters to various assets, including Forex, stocks, indices, CFDs, etc.
MetaTrader 5, created by MetaQuotes, is popular worldwide and available through numerous Forex brokers following MT4’s triumph.
MetaTrader 5 is unique because it offers many benefits, including Expert Advisors (EAs). EAs are automated tools that help investors use algorithmic trading strategies and forex trading robots.
How to find the best Forex EA for MT5?
One common question among traders is finding the best Forex EA for MetaTrader 5. In this guide, we help you find EAs that work well with MT5 and meet your specific needs.
When acquiring a well-crafted EA, there are multiple avenues to explore. One option is to visit the official MetaTrader 5 platform website, where you’ll find a comprehensive catalogue of EAs meticulously designed for use with MT5.
What does this resource allow?
This resource helps traders choose automated trading systems that match their preferences and suit different trading strategies. It helps them make informed decisions in the constantly changing forex market.
Apollo EA is an automated trading system that uses a scalping technique for trading Gold (XAUUSD).
However, let’s take a closer look at the best Expert Advisor MT5 examples you can find online nowadays, shall we?
Apollo EA – trading system
Here are the statistics for the trading system:
Platforms: MT4
Min. Deposit: $500
Asset Types: Gold
Yearly Target: 84%
Risk/Reward: 0.53
Historical Drawdown: 30%
Apollo EA is an automated trading system that uses a scalping technique for trading Gold (XAUUSD). It relies on a customized ZigZag indicator to track and connect extreme chart points diligently.
This system trades once daily and only allows one trade to be open. This EA has made a profit factor of three, which is impressive.
It analyzed historical data through backtesting and live trading. It operates without using grid, hedging, arbitrage, or martingale mechanisms.
EA has achieved a remarkable profit factor.
This EA has made a profit factor of three, which is impressive. It analyzed historical data through backtesting and live trading.
Apollo EA primarily operates in the M30 timeframe. It has a win rate of 74% and an average profit of 7 points per trade.
However, it also experiences an average loss of 7 points. The typical trade duration is remarkably short, averaging just one minute.
Hera EA – trading system
This EA simplifies trading high-impact US Dollar-related news by operating in “auto-pilot” mode. The robot uses pending orders to take advantage of Forex rate changes caused by news events. It aims to profit from 4.5 and limit losses with stop losses.
Automated news retrieval from reputable online sources enhances its functionality. Furthermore, the EA incorporates filters, including the “news impact” factor, to fine-tune its buying and selling decisions.
The strategy focuses on 15 minutes. It utilizes flexible stop loss and takes profit levels. It does not employ grid, hedging, arbitrage, or martingale strategies.
In the fast-paced world of finance, you can expect up to three trades every day. These trades have an impressive success rate of 90%.
On average, they result in a profit of 8 points but also an average loss of 12 points. The trades are completed quickly, taking just 22 seconds on average.
Zeus EA – trading system
Created for the Forex market, Zeus EA offers executed trading based on automated systems. It excels at making trading decisions by adapting to varying market conditions.
Created by Elite CurrenSea in 2019, Zeus EA is a top Forex Expert Advisor worldwide. It has undergone rigorous testing and proven its effectiveness.
Zeus EA delivers impressive monthly profits (5-15%) while offering various subscription options for diverse trader backgrounds. This EA is renowned for its speed, ensuring timely execution and thorough monitoring of trading opportunities.
Designed for EUR/USD trading by Nenad Kerkez and Chris Svorcik, Zeus EA boasts over two years of successful live trading.
Its robust backtesting (four years with a 99% model accuracy) is a testament to its reliable money management and ability to react to market data, price movements, trade volumes, and the foreign exchange market dynamics throughout the trading process.
Ultima EA – trading system
Ultima EA, created by the same company behind Zeus EA, is an excellent Expert Advisor for MT4 and MT5 trading platforms. It offers unique features for traders worldwide.
What makes Ultima EA special is that it includes three different Expert Advisors in one package: Ultima, Ultima Pro, and Rush EA, all for the price of one.
Three subscription options are available, each providing three EAs and 24/5 email support.
The regular yearly bundle costs 1,899 euros; the sponsored yearly bundle is priced at 1,449 euros per year, and a monthly subscription option for 200 euros per month.
Ultima EA is a great choice for traders looking for effective Expert Advisors in the financial markets.
While free Expert Advisors are desired, high-quality EAs often come at a price, and Ultima EA offers valuable services at competitive rates to support your trading activities.
How to create an expert advisor for MT5?
Here’s a short and useful guide on how to create an expert advisor for MT5:
Operate to the “Tools” option in the menu, then choose “MetaQuotes Language Editor.” This action will launch the Meta Editor. Click on the “New” button within the menu.
Select “Expert Advisor” and proceed by clicking “Next.” Input the required details, including the Expert Advisor’s name, author, and the desired link for display. Adjust the parameters as needed, and then click “Next.”
Configure event handlers, which refer to functions triggered under specific conditions.
Compose an MQL4 program.
Once you’ve completed the program, click the “Compile” button in the menu. Following compilation, the newly created Expert Advisor will appear in the designated folder within the Navigator.
Close the MetaEditor and return to MT4 to continue your trading activities.
How to use the volume profile indicator in the best way?
You can utilize the Expert Advisor for MT5 to enhance your trading strategies. There are various ways to apply the Volume Profile Indicator alongside the Expert Advisor for MT5, including different Volume Profile indicators.
Some measure the volume profile over a specific time frame, known as Session Volume Profile Indicators, while others analyze volume profiles for each candlestick, known as Candlestick Volume Profiles.
In this discussion, we’ll focus on the Volume Profile Visible Range (VPVR) indicator in conjunction with the Expert Advisor for MT5, which displays the volume profile of the currently visible candlesticks on your chart.
Add the Volume Profile indicator and Expert Advisor for MT5 to your trading platform to get started.
While this guide uses the specific VPVR indicator developed by Investor_R on TradingView, the process for adding it to your platform is similar to any other trading platform.
Access your indicators tab on TradingView, type “VPVR,” and select the indicator to integrate it with your Expert Advisor for MT5.
Bottom line
Harnessing Expert Advisors (EAs) in MetaTrader 5 can transform your trading journey. These automated tools, chosen thoughtfully, align with your strategies for scalping, news trading, or adapting to markets.
Zeus EA, Hera EA, and Ultima EA excel in financial markets, offering valuable insights. While effective, EAs may require an investment, but the potential returns make it worthwhile.
Integrating EAs in MetaTrader 5 can enhance your trading success whether you’re a seasoned trader or a beginner.
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