Top 5 Ready-Made Algorithmic Trading Robots in MQL5 by@zadhidpowell

Top 5 Ready-Made Algorithmic Trading Robots in MQL5

image
Zadhid Powell HackerNoon profile picture

Zadhid Powell

Zadhid Powell is a CSE graduate Technical Writer, Digital Marketer, Fintech enthusiast, and a B2B SaaS expert.

Algorithmic trading is certainly growing, with approximate global market size of $12.1 billion in 2020 and a projected 18 billion by 2024. It clearly states that Algorithmic trading is booming, and thus the demand for Algorithmic trading robots is also increasing.

Nowadays, ready-made algorithmic trading robots allow you to trade immediately. You need to purchase the solution, specify parameters for possible transactions, allocate funds, and enter or exit positions while focused on other tasks. The trading robot will handle the rest.

However, it would be best if you found a suitable automated trading solution, considering your trading market and expectations. Otherwise, you may wreck your profitable business; rather than receiving profits, you may destroy your thriving business.

This article will overview a few key factors and discuss some of the best ready-made algorithmic trading robots you can purchase from the market right away.

Characteristics of a Ready-Made Algorithm Trading Robot

It's improbable that you'll benefit only from the trading solution but also from how you conduct your business with the trading robot. If you rely on an algorithmic trading robot, it should have the qualities of a trusted companion.

Let's discuss some of the characteristics of an efficient trading solution:

1. Extensive Backtesting Opportunity:

Historic data testing is critical to your trading algorithm's efficiency and behavior. Deficient backtesting may risk your trading algorithm's viability, profitability, and sustainability. Therefore, you must select a trading robot that allows efficient backtesting and comprehensive historical data collecting.

Let's discuss some key backtesting benefits:

  • Filtration: Your primary purpose is to create a strategy pipeline and eliminate those that don't fit. As a consequence, backtesting eliminates tactics that don't perform well.
  • Net profit or loss: Backtesting aids in calculating the potential percentage gain or loss of a strategy in the simulation. Hence, you could use the proven approach in actual trading.
  • Modeling: Backtest allows you to find new market models for transaction costs, order routing, latency, liquidity, and other microstructure problems in a safe environment.
  • Optimization: Even if strategy optimization is biased, modifying a strategy's parameters and recalculating its findings in backtesting enhance its performance.

2. Diverse Market Connection:

If you have an excellent tool to make you money, assume that you want to move and try earning from different markets or platforms. As you should be aware, Algorithmic trading dominates 80% of the stock marketand 92% of forex trading.

Likewise, software that connects with different markets and exchanges can also read the data in various formats will keep that door open. Eventually, an excellent trading solution should have versatile markets like regular stocks, forex, gold, or crypto.

3. Least Latency:

One of the most crucial aspects of algorithmic trading is Latency, the temporal delay produced when data points are sent from one application to another. According to a global investment bank, every millisecond lost results in a $100m opportunity lost every year. Also, CNBC states that high-speed traders cost regular investors almost $5 billion a year.

Hence, you are inevitably losing money if your signals are arriving slowly. Therefore, your trading solution should keep the Latency to a minimum to guarantee you up-to-millisecond and correct information without any delay.

4. Cost Efficient:

A successful trading robot is priceless, but nothing is ever really priceless. If you're spending money on trading software, the first investment mustn't deplete your overall trading capital. As a result, it's crucial to use reasonably priced automatic trading software since every penny counts in investing.

5. Configuration & Customization:

There are practical and sustainable trading strategies but barely guaranteed trading algorithms. Moreover, the trading business is fast-paced. We recommend using a trading robot or a platform that reacts to your orientation when crossing or whipping the Moving Average. Customization of parameters in both purchasing and selling is preferred over built-in or fixed capabilities.

The Top5 Ready-Made Solutions for Algorithmic Trading in MQL5

The MQL5.community is one of the oldest and most reputable resources for trading robots that exists and develops together with the MetaTrader 5 trading platform and serves millions of traders globally. It's the most popular trading robot platform with 7m MAU, according to Matrica.

So, let's talk about the efficient ready-made algorithmic trading systems you can now get from the MQL5.community.

1. Night Hunter Pro

Night Hunter Prois a complex scalping trading system that employs clever entry/exit algorithms and sophisticated filtering methods to discover the safest entry opportunities during market calms. This approach is geared at long-term, consistent progress.

Night Hunter Pro is a professional program built and developed over the years by Valeriia Mishchenko, an expert trading robot manufacturer. It comes with a portfolio of 5 pairs, also shown 99.9% quality in the backtesting with real data.

image

In the creator's words, there's nothing fancy about Night Hunter Pro, no Holy Grail testing, no "risk-free martingale," merely a strict rule-based trading technique that allows you to maximize your earnings while keeping your risks under tight control.

Key Features:

  • Requires only a single chart to trade all the symbols.
  • Supports multiple currency pairs for a diverse approach.
  • Proficient backtesting results and live performance.
  • Advanced News Filter
  • Automatically detects GMT
  • Offers a Self Diagnostic System
  • Includes a Negative Swap Filter

2. Darwin Evolution

image

Darwin Evolution has conducted an environmental analysis for a better understanding potential for manual trading. EA's design and strategy turn it into a robot capable of managing your account without exposing you to unnecessary danger.

Darwin Evolution is a long-term advisor, not a short-term scalper. For example, an EA may sit idle for a week, waiting for the best opportunity to profit for you. To maximize DD and profits, it may keep deals open for days or weeks. Thus, this environmental evaluation's profit, recovery, and risk elements are remarkable.

This system has more than 8 indications and filters. The EA is also multidose, working on all 28 pairs at the same time. So he will work with any broker regardless of quotation, execution speed, fees, or spreads.

Key Features:

  • Trade on 28 pairs at the same time
  • Maximizes earnings while limiting drawdown.
  • Risk capital management
  • Does not require any optimization (set files)
  • Not exposed to the market.

3. Carousel Triple Correlation

image

Carousel Triple Correlation is a powerful instrument with no peers on the market, and it may be the only automated trading system with a unique trading philosophy and capabilities. The Carousel Triple Correlation logic uses triple correlation, using three trading instruments simultaneously.

It's a unique trading method since it avoids the need to re-optimize the system based on prior data. Three instruments also interact in real-time.Therefore, instead of analyzing one currency pair independently, the study considers three additional instruments' correlation movement (strength, direction, and deviation).

Key Features:

  • Simultaneous trading in 3 different pairs
  • Can trade collaborating with different instruments (Forex, Metal, Crypto, Oil/Gas, Future, Index)
  • Keeps Profit/Loss values for individual separate open position
  • Separate correlation control for each trading instrument, shift double correlation to triple
  • Control on multidirectional position opening for each item.
  • On/off control over the grid strategy

4. Gold Super Trends AutoTrader Robot

Gold Super Trends AutoTrader Robot is a specifically designed gold trading robot. It has almost 14 years of successful patterns and can trade 24 hours a day. It's a trading robot that handles everything from initiating trades to closing them and managing risk.

It contains a dynamic decision-making system and a dynamic market observer that adapts to changing market conditions. Besides, the built-in risk management mechanism examines your account's actual equity and profits.

It also offers different timeframes for trading in many marketplaces throughout the world. For example, the US and Asian markets have two dissimilar market hours. Moreover, you may also set a daily profit objective that the robot will only trade till it reaches the target.

Key Features:

  • Dynamic market watcher and dynamic decider
  • Position switching grid cell cells systems as the price goes up or down.
  • Built in risk control system
  • Identifies market trends and can react and open positions taking the favor of the trend.
  • Precisely defined switches to allow for scaled account size.

5. EA Gold Stuff

EA Gold Stuff is an Expert Advisor that has been particularly created for gold trading. The trading robot functions as starting orders utilizing the Gold Stuff MT5 indicator works according to the "Trend Follow" method.

It comes with a DD reduction algorithm. The drawdown reduction method is used when the final order with profit is near the first-order series with a loss. Besides, it has friendly money management with automatic calculation.

image

Asides, it consists of a dynamic distance star/distance multiplier/order dynamic distance opportunities options and a distance fix feature. Moreover, a built-in lot multiplier for the following orders.

Key Features:

  • Use Money Management - on / off use of automatic lot calculation.
  • Autolot. 0.01 lot Free margin for each  - free margin ones every 0.01 lots.
  • TP - take profit, in pips.
  • DD Reduction Algorithm
  • Trail Start/Trail Step control option
  • Maximum lot/Maximum spread

Summary

Finding the most incredible algorithmic trading robot is like looking for a nibble in the hay. These ready-made algorithmic trading solutions have their significance, benefits, and drawbacks. So, it isn't easy to declare one as the best choice.

On the other side of the coin, whether you gain or lose in trading relies on the trading tactics. That is why your automated trading attempt rests on your trading strategy.

So, if you're looking for the best trading robot, look for some essential qualities like being made by a good developer, good reviews, and a larger support and user community to get aid when necessary.

Zadhid Powell HackerNoon profile picture
by Zadhid Powell @zadhidpowell.Zadhid Powell is a CSE graduate Technical Writer, Digital Marketer, Fintech enthusiast, and a B2B SaaS expert.
Read my stories

Comments

Signup or Login to Join the Discussion

Tags

Related Stories