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Version: 2.0

General Notes

Input folders​

Unlike the Expert Advisor Builder, the Custom Expert Advisor uses input folders for its configuration. Only a few settings are specific to the Custom Expert Advisor and available as input parameters, such as the magic number configuration or the all inspector module, which supervises the sum of all executed trading strategies. The Custom Expert Advisor can select from one of multiple profile folders, but each input must contain the following subfolders and files:

  • Configuration: This folder contains the SET files that can be loaded and executed. The Custom Expert Advisor requires the trading idea SET file to be named according to the scheme EAM_In. N can be any positive number, but it must not start with zero. Simply placing the SET files here does not mean they are enabled. It only means the SET files can be used with a trading system.
  • System: The system text file contains the information which configuration SET files are used for the trading system. Only SET files listed in the system text file will be loaded into the runtime engine.
  • Condition: The condition text file defines the trading state of each trading module. Modules can be enabled, disabled with closing the orders, or disabled without closing open orders.

The folder structure should look like the following.

Profile folders for tester variant.png

If any input folder does not exist, the application will create it in the selected profile folder. All input files can be edited with any text editor, even while the application is executed on a live chart or in the strategy tester. The Custom Expert Advisor scans its input folder for modifications every 10 seconds and adjusts the trading systems accordingly.

This means a trading system can be actively modified while being executed, allowing the execution of automated trading systems to seamlessly integrate into computerized processes that continuously evaluate and replace the trading modules.

Profile folder​

As previously mentioned, the Custom Expert Advisor is available in a live version and a tester version. As their names suggest, the Custom Expert Advisor Live is designed for use on live charts, while the Custom Expert Advisor Tester is designed for use with the strategy tester. It's important to note that the tester version cannot be used on a live chart, and the live version cannot be used with the strategy tester.

Each version uses different input folders. This separates live trading systems to ensure they are not accidentally modified while conducting strategy tests.

The profile folders for the tester version can be located by entering the following path into your Windows file explorer.

%AppData%\MetaQuotes\Terminal\Common\Files\FEA Trading Tester Data\Custom Expert Advisor Tester 2.0

Profile folders for live variant.png

The profile folders for the live version can be located by entering the following path into your Windows file explorer.

%AppData%\MetaQuotes\Terminal\Common\Files\FEA Trading Live Data\<META_TRADER_INSTANCE_NAME>\Custom Expert Advisor Live 2.0

<META_TRADER_INSTANCE_NAME> shall be your MetaTrader instance name, for example, MetaTrader 4 IC Markets.

Different profile folders for individual strategies.png

Each profile folder can contain multiple trading systems fully independent from the others. If a trading module SET file needs to be used in various profile folders, the SET file must be duplicated into both configuration folders. This approach allows for using, for example, four profile folders for completely different trading systems.

Configuration, condition, and system folder content.png
  • MyCustomEa1 is used to configure a system on chart EURUSD M30
  • MyCustomEa2 is used to configure a system on chart DAX M5
  • MyCustomEa3 is used to configure a system on chart EURUSD M15

Strategy testing with latest events​

One of the most unique features of the Custom Expert Advisor is its news engine. This feature enables news events to be used directly as signals for automated trading systems in MetaTrader 4 and MetaTrader 5. Impressively, this feature is also available during testing with the strategy tester!

Outdated news data warning.png

To enable this, the compiled executable file for the Custom Expert Advisor incorporates all news data dating back to December 2009.

As a result of this approach, updating the entire application to conduct strategy tests with the most recent news is necessary. The Custom Expert Advisor will display in the news data table if no offline news data is available. Therefore, if you encounter the above warning, please download the latest installer and reinstall the application. Typically, the installers are updated every month.

Examples collection​

The Custom Expert Advisor includes a collection of examples that users can refer to. These examples provide a practical demonstration of how to use the various features and functionalities of the tool. They serve as a valuable resource for understanding how to use the Custom Expert Advisor effectively to configure trading systems. The examples cover various scenarios and trading systems, offering users a comprehensive guide to navigate the tool. Users can gain hands-on experience and insights into building customized trading systems by studying and experimenting with these examples.