Free Forex Expert Advisor

Hunter Scalper EA Cost $625 FREE Download. The Hunter Scalper EA is a fully automated trading Expert Advisor robot designed for scalping during periods of market turmoil. The EA uses advanced algorithms. FX141 January 30, 2021. Sep 28, 2020 Forex Excellence Expert Advisor review: About The Forex Excellence Expert Advisor Excellence is fully automated expert advisor based on Trend. Smart algorithms determine the reduction of losses in the event of sharp market movements. The entire expert advisor responds to the market and automatically chooses the best starting points.

  1. Free Download Expert Advisor Forex Robot
  2. Forex Trading Expert Advisors

Free MT4, MT5 Expert Advisor Builders

Trade logic of this Expert Advisor. The ADX EA is a forex robot based on the ADX indicator. It includes 5 different entry strategies and in the Advanced and Pro version 3 additional exit strategies. Entry Strategies. ADX Breaks Over Level trades if the ADX Main Line crosses above the Entry Level ADX Breaks Under Level. FREE INDICATOR + Expert Advisors. Visitor Analytics Stat-Counter.

Automated Forex Trading is the 'Holy Grail' of advanced Forex trading. Τhe following EA builders are offered for free / or provide a free-trial period and can be used for creating EAs on MetaTrader-4 and MetaTrader-5.

MT4 builders are designed to generate customized Expert Advisors by compiling MQL4 or MQL5 code. Some of the following EA builders are web-based, others require installation. When you create your first customized EA you are advised to test it risk-free in a Demo Account before trading for real money.

Here are the free Expert Advisor Builders:

(1)EA Builder for MT-4, MT-5, and Tradestation

PRICE: Free for creating Indicators

BUILDER: Web-Based App

EXPERIENCE: Semi-Advanced / Advanced Traders

The EA builder is a free application for creating indicators. You can turn your manual trading into arrows and alerts and create indicators for MT4, Mt5, and TradeStation. You can also turn any manual system into a fully-working Forex Robot (EA).

» EA Builder for MT4 and MT5

Here are the basic features of the EA Builder:

  • Develop indicators and EAs for trading Forex pairs, stocks, indices, ETFs, commodities
  • Create EAs without knowing anything about programming
  • Tens of built-in functions such as support, resistance, trendlines, and time (select when to trade)
  • Every feature of the EA Builder has a popup tip that helps and guides you
  • Three (3) Alert Types (eMail, Audible alerts, print to output window)
  • Full Money-Management system with custom functions
  • The generated code is contained in a single file, ready to be used on MT4, MT5, or Tradestation

EA builder is completely free for creating Indicators but if you want to create EAs there is a one-off payment.

Here is the website of EA Builder:

» Download here free EA Builder MT4 & Tradestation Indicators

(2) Expert Advisor Builder for MetaTrader 4


BUILDER: Web-Based App

EXPERIENCE: Semi-Advanced / Advanced Traders

The Expert Advisor Builder (EAB) is a web-based EA builder that is free and simple to use. EAB generates EAs for MT4 by using seven (7) fields.
(i) EA Template field
In this section, you may enter your own script.
(ii) EA Variables field
In this section, you will set up your main variables according to which you will control your trading strategy {Buy and Sell strategy / Close(Buy and Sell) strategy}.
(iii) EA Buy-Strategy field
Set-up your EA buy-strategy.
(iv) EA Sell strategy field
Set-up your EA sell-strategy.
(v) EA Closing (Buy) strategy field
This section allows you to enter the conditions for Closing Positions opened according to the 'Buy strategy' field.
(vi) EA Closing (Sell) strategy field
This section allows you to enter the conditions for Closing Positions opened according to the 'Sell strategy' field.
(vii) EA Order Options field
Set up some extra settings for your Expert Advisor.

Here is the website of the Expert Advisor Builder (EAB):


(3) EA Builder Forex Advisor for MetaTrader 4


BUILDER: Web-Based App

EXPERIENCE: Semi-Advanced / Advanced Traders

The EA Builder ‘Forex Advisor’ is also a free web-based expert advisor builder. The EA Builder is simple to use and requires only the set-up of four main conditions (When to Buy, When to Sell, When to close a Buying Position, When to close a Selling Position).

Forex AdvisorOptions Tabs

In the EA Options Tab you may choose your basic settings if you don't want to use some of these settings just enter 0:

(i) EAs Expert Magic Number: Set-up your EAs unique ID number. All the trading positions that you will open using your EA will share the same ID number and your EA will manage only them. If you choose to trade via different trading systems in the same account you should use different ID numbers in order to avoid problems on execution.

(ii) EAs Lots: This is where you set-up the basic lot-number for your trading system. All your trades will be opened with this volume number.

(iii) Stop Loss Value: Set-up your stop-loss value, usually x2 times the trading spread (as concerns most Forex brokers).

(iv) Take Profit Value: Set-up your take-profit value, usually x2 times the trading spread (as concerns most Forex brokers).

(v) Trailing Stop Value: Set-up your Trailing Stop value, this order will be activated only if the position’s profit is higher than the value set.

(vi) EAs Use Long Positions: Set-up your long positions.

(vii) EAs Use Short Positions: Set-up your short positions.

EA Code Tab

(i) When your settings are filled (or left 0) this tab allows the generation of your final code. You may copy the EA code and paste it in your MT4 MetaEditor

(ii) Compile your code via the MetaEditor and run your EA in the MetaTrader.

This is the website of the EA Builder Forex Advisor:


(4) Molanis Strategy Builder for MT4

PRICE: Free Trial (Price to buy: $149.99)


EXPERIENCE: Beginners / Semi-Advanced / Advanced Traders

You may use a free working version of the Molanis EA builder for a trial period. This EA builder is programmed on Java and offers a graphical environment without complicated scripts and input fields. You enter your settings by selecting via a full set of predefined graphical blocks. The EA building is based on click and drag & drop diagrams. Afterward, these diagrams are analyzed by the EAs MQL generator which transforms into ready-to-use EAs.

Here are the basic features of the Molanis EA builder:

(i) Create EAs via an interactive fully-graphical environment

(ii) Reduced Learning Curve, offers the chance to focus on ideas and not on EA settings

(iii) Create expert advisors that can trade multiple Forex currencies in multiple timeframes

(iv) Create simply your own Forex Signals

(v) Molanis supports an Online Community and a Forum

This is the website of Molanis EA Builder:


(5) Zoro Trader for MetaTrader 4

PRICE: Free (Requires Registration)

BUILDER: Web-Based App

EXPERIENCE: Advanced Traders / Professional Traders

Zorro is a very interesting community project offering extensive learning resources and an advanced EA builder. The whole project is free and you just need to register in order to use the EA builder. Here are some basic features of the EA creator:

  • Can operate as MT4 EA or as a fully-individual robot

  • Multiple time frames (from 100 milliseconds to one day)

  • Choose among hundreds of indicators

  • Includes a true machine code compiler for fast back-testing (the programmers claim its 50 times faster than MQL4)

  • Orders include limit, stop-loss, take-profit, profit-lock, trailing-stop, timed-exit

  • Binary options emulation with adjustable win/loss payout

  • Full NFA compliance for US-based accounts

  • Open API interface for easy implementation of any broker API (source code included)

  • Runs on cloud servers (VPS) with Windows Server 2003 / Windows Server 2012

  • Uses the Lite-C script language (C syntax) / Strategies require only a few lines of script

  • Windows API, external DLLs, and R bridge

  • CSV data import and export

  • Syntax script editor with help (course for Lite-C is included)

  • The script code can be converted from one trading platform to another

  • Monte Carlo analysis with randomized equity curves

  • Emulation of slippage and rollover interest (swaps)

  • Tick-chart Mode

Zoro EA Builder Data Mining / Machine Learning

Free Download Expert Advisor Forex Robot

  • Curve pattern detection with Fréchet algorithm

  • Curve spectrum analysis with filter bank and Hilbert transformation

  • Price curve correlation and autocorrelation

  • Fuzzy logic for peak/valley, crossover, and pattern detection

  • Algorithm generator with neural network (perceptron) / Pruned decision tree

  • Algorithm generator for price action trading with patterns

  • Generated trade algorithms can be exported in C code to other platforms

  • R packages support for machine learning and data analysis

This is the link to the Zoro Web-Site:


(6) Forex Generator EA Builder for MT4 and MT5

PRICE: Free Trial (only MT4)


EXPERIENCE: Semi-Advanced / Advanced Traders

Forex Generator EA Builder allows you to create a customized Automated Forex Strategy. The free-trial can only generate MT4 EAs. The Professional Edition generates both *.mq4/*.mq5 files and may be used for MT4 and MT5 EA building. Here are some basic features:

  • Easy-to-use / No programming skills required

  • Generates EAs, Indicators, and Scripts

  • Set up your own trading signals via built-in indicators

  • Import 3rd party indicators

  • Set all basic orders (trailing stop included)

  • Limit the EA trading activity to specific only days of the week

  • Limit the EA trading activity to specific hours of the day

  • Set-up the maximum accepted spreads

  • Setup 2nd orders that can be used for hedging opened positions

  • Martingale and Semi-Martingale money management

Forex Generator EA Builder Requirements include a Windows XP/Vista/2003/7/8/10 PC with 256MB ram. In addition source code in MQL4 and MQL5 is required. Download the EA builder from here:

» Download Forex Generator 6

» Download mql.exe

This is the link for the Forex Generator EA Builder website:


(7) Fx EA Builder for MetaTrader-4


BUILDER: Web-Based App


The Fx EA builder is a simple software to create your own Expert Advisors. The whole process is free and web-based but you shouldn’t expect much as concerns the final outcome. Here are some basic features:

(i) You do not need programming skills

(ii) Generate EAs for trading multiple Forex currencies in multiple timeframes.

Here is the Fx EA Builder website:


Free MT4 Expert Advisor Builders

Fx Brokers: »Compare ECN/STP Fx Brokers

Quant Strategy Building: »StrategyQuant Review

The systems have no money management or other elements of risk accumulation. Data on charts are updated every hour and shows how many points the systems win. There will be a constant process of adding new forex expert advisors with good expectations and removing these with bad results.

Choose the right forex ea for your algo trading

Forex Trading Expert Advisors

Trading with forex ea is a marathon, not a sprint. Going fast with huge risk equals throwing your money from the window. Avoid trading systems with risk accumulation. Don't be fooled by nice smooth equity curves, because they hide huge risk. The real trading systems don't have such a nice equity curve. They have their drawdowns and stagnations. Use small lots, don't take unnecessary risks. Slowly build your trust in the expert advisors, see what correlation they have. See how they do when the market is in range and trend. Make a big portfolio of expert advisors, but only from good profitable forex robots. You don't want the profit from the good systems to be lost from the bad.

Why do i need a forex trading robot?

Probably if you are new to the forex market you will ask this question. Maybe you think that the human brain can process the chart information better and make better forex analysis and decisions about the possible market directions. Well... you are wrong. The forex market is unpredictable as the most things in our lives. If the market becomes predictable, it will stop existing. Then what can we do? We can monitor and find specific market situations after which something is happening. Of course, you will never find such case in where after A follows B in 100% probability. But you can find a 60% one. And this will lead to developing a forex trading strategy and when the strategy is crystal clear, it can be coded into expert advisor. If we need to make an expert advisor definition, it will be - trading robot based on statistics.

How to choose the best forex trading system

No matter how many stats you watch, no matter how good the equity curve looks, you never know how it will perform in the future. It is possible that an forex robot that has medium results, to be much better than the best forex ea now. Let's say that a good-looking expert advisor has a 60% chance to be also good in the future. So if we choose 1, from which it will be - from the 40 losing or the 60 winning? Again... we don't know. But the bigger portfolio of experts we make, the closer we get to that 60 -40%. What if we monitor closely the things and shut down the bad performers and substitute them with better expert advisors? Then we can reach 70-30 or even higher.

Why the forex ea can stop working?

As everything around us, the markets change too. The swaps change. Economic results change. Market volumes change. Trends are becoming bigger or smaller, ranges are becoming wider or thinner. The forex expert advisor is designed to work within some specific market parameters. When they change beyond a certain limit, the ea will stop working as expected. Usually, this doesn't happen right away but like a process when the forex ea is constantly getting less and fewer profits. We must be prepared that all the expert advisors will fail at a certain point and the questions are not if, but when.

The lifecycle of the forex automated trading systems

There are many types of forex ea and many lifecycle models but the one we choose is test, out of sample test and trade. The test is the largest period where we test our rules. It must be big enough to get enough trades for good stats and not so big, because as we said in the previous paragraph -it can be close to its end or have bad backtest results just because we are including different market conditions. For example, 10-15 years ago we had 5-8 points spread on EURUSD, now we have 0.8. If we test on such old data we will have good results which are not real. We have chosen that backtest period to be close to 2 years. The next important period for the forex robot is the out of sample test. In this test, we verify that the system still have the same performance parameters as in the test period. If the system can pass that period it is ready for trading. In the most common case, we have 2 years backtest, 6 months out of sample test and 1-year trading.


Is it possible one trading robot to have different results?

Yes. The trading robots logic is restricting them to have more than one position at a time. This means that they may have many entry signals, but they can use them only when there are no other open positions. This means that if you download an expert advisor and start it at a different time/price, your positions can be different from the same system which is started at a different time. Usually, after several local trends, the forex ea will start making the same positions, but there is a chance that this will not happen for some specific expert advisors.