Strategy Quant EA Wizard Questions & Answers
Building your own expert advisors or indicators with alerts for metatrader4 without programming knowledge is something many Forex traders would like to do… and exactly the opportunity Strategy Quant EA Wizard provides. Since this became available, there have been many questions. Here are some of the answers…
>> Q: Can I use my own custom indicators?
Definitely. With EA Wizard you can use any custom indicator, all you have to specify is its name and parameters.
I believe it is very simple. There’s easy learning curve. If you watched the videos, you saw me creating a simple strategy in a few minutes. Of course, I work quickly, perhaps too quickly, it is because I know the program already and also because it is so easy.
If you are able to define a trading rule in a natural language like this:
IF CCI(50) CROSSES ABOVE 0 THEN
BUY LONG AT MARKET PRICE
WITH STOP LOSS 50 pips AND PROFIT TARGET 60 pips;
That’s all you need with EA Wizard.
The EA logic consists of such simple defined rules.
Of course, the rules can be more complicated, you can combine unlimited number of conditions and actions.
Yes, it is possible to trade a breakout of a given range. When you specify the stop or limit order level, you can use value of any indicator or high/low value of any previous bar.
>> Q: Can I close a position and open a new one?
Yes, EA Wizard gives you a total control over your orders.
In a simple way you can choose to close any position and open another.