Forex Programming: How To Choose An Expert Advisor Coder?

Jul 10, 2020 04:38 AM ET
Forex Programming: How To Choose An Expert Advisor Coder?

Why You May Need a Forex Programmer?

A forex programmer is important if you are serious about creating automated trading software. As a result, it may help to implement your trading strategy more efficiently in the markets. You can also use it for incremental automation which means automating parts of the strategy or delivering trading signals. Moreover, with the help of a forex programmer, traders can create a unique custom indicator solely for themselves that no other trader has.

When you find the right programming company or a freelancer for you, try to develop long-term relationships. So, whenever you need any service related to coding work, you’ll be able to reach the support every time. It is good to work with only one developer because you confidently expand the knowledge of their toolbox and form realistic expectations. The reliable, transparent pricing is also the 

When you choose your forex programmer, keep in mind that just like forex brokers, there are a lot of scammers out there in the programming sector as well. So, you must be cautious with your research. However, it can be a little difficult to find the right forex programming services. Even if you research on search engines like Google most thoroughly, it does not show any results. It seems like the most talented programmers are not great in search engine optimization. So, you need to contact them separately to know more about them.

What To Pay Close Attention To

During your interactions with the developer, here are some points you need to pay attention to:

  • The response speed: It is very important because you are thinking about going into a long-term relationship with them. It is only natural that you will face issues and difficulties while using the forex programs, especially if you are a beginner. So, it is essential to know if your programmer would respond to you fast. If they respond quickly the first time, then you can expect them to be responsive in the future as well.

  • Written language: Even if they are helpful and quick to respond to you, the quality of their written language will make a great difference. Anything related to forex is complicated and associated with many technical terms. You need to make sure that the company can explain everything to you in an understandable manner so you do not get confused.

  • Clarification questions: Asking clarification questions, displays how the developer is paying attention to whatever you are trying to achieve at the end. It also shows if they can come up with tailored solutions as per your specifications and requirements.

  • Fitting the budget: Obviously, not fitting your budget, means limits for the development of the exact trading robot you need. Forex trading is risky, and it is always better to stay within your budget in the beginning or you may end up losing a huge amount of money.

  • References and testimonials: References and testimonials help to understand if the company or developer, you have contacted has been able to help other clients. With feedback from other traders, it is easy to know the strength and weaknesses of the software which helps you make the right decision.

  • Suggestions for improvement: If they provide you with suggestions for improvement, then it is a good sign. The first reason - it displays the developer’s competence. Second -  it shows that you will receive good technical support when you need it. If you are a beginner, then you may need it more than you think.

Tips To Work With EA Coder And Develop A Great Trading Software

Check scrupulously: 

Keep in mind that sometimes programmers claim that a program works without testing it properly. They can also make mistakes due to miscommunication if they did not understand your requirement accurately. So, make sure that you verify that every feature of the EA works correctly. If you have a programmed EA, then it is a must to test it in a demo account, before going live. Do not put your live account at risk without being sure about the program you are using. You would not want to lose your hard-earned money before even start earning. So, check accordingly before using it.

Create Your Project Plan: 

Before contacting any programmer - create a detailed project plan. It does not have to be formal or complex, but you need to include exactly what your specifications are for this piece of software. Apart from including the formulas for the software, pay attention to figure out the if-then scenarios. Keep in mind that you need to let the programmers know what is the purpose of the EA, so they can provide you with the right specifications. Next, you need to come up with some testing plans to test the software. To do it, think of tricky scenarios and figure out how to test them. You do not have to be very detailed, but it is essential to sketch out a plan to test all features before calling the project complete. This whole procedure may be time-consuming, but it will save you from all sorts of trouble. Also, do not forget to write down the specifications and testing plans in a document so you can mail it easily.

Test with A Small Project: 

When you have worked on the testing plan, contact some programmers, and send your project specification to a few. Pay attention to their response, and take notes. 

Now, you will find more than one company that will match your criteria. This is when you need to test out a company before paying any large amount of money. So, it is a good idea to start with a small project. When the project is not too expensive, you can just pay upfront to test them. We would recommend going with simple indicators that come for less than $100.

Forex Programming

Top EA Programming Services

  1. One Step RemovedOne Step Removed: One Step Removed is a forex programming service that helps traders to find new strategies and automate their trading. You can join more than 68000 fellow forex traders by choosing this company. It offers several forex EAs such as MAPP Z, Slow Stochastics, MAPPZ Momentum, Rolling Pivots, Signal-Noise Ratio, Gaps, CCI, Bollinger%b, RSI, Keltner Channels, and Bollinger Bands. You can choose a new strategy from the large list of strategies including First Strike Trading System, Enhancing Fibonacci, Simple Breakout Strategies, Optimizing Slow Stochastics Crossovers, Dual Stochastics, RSI Entry Strategy, Simple MACD Trend Following System, The Oscillating Momentum Indicator and more.

  2. Method TradersMethod Traders: Method Traders is a great option when it comes to automated trading systems. The company develops custom indicators including generating visual chart signals and marking key price levels. You also get notification alerts to help in manual trading. Moreover, you can create your own trading robots with the programmer’s help. Method Traders also provides scripts to make trading easier. Scripts are powerful tools that you can use to propagate several orders together, generate CSV reports, and simplify the complicated trading tasks. Lastly, the company can modify your existing programs to improve them according to your requirements.

  3. FXCMFXCM: FXCM offers its award-winning tools and trading services to its clients to help them in trading. One of its services is algorithmic trading API for CFD and forex which is ideal for automating your trading strategies. API or application programming interface is a set of definitions, tools, and protocols to develop application software. FXCM provides four free APIS, such as REST API, FIX API, Java API, and ForexConnect API. Fxcmpy Python Package exposes the capabilities of the REST API through various Python classes and takes care of the lower-level technical aspects. Other services include market data, FXCM apps, and trading analytics.

  4. Digital Trading SystemsDigital Trading Systems: Digital Trading Systems assists traders with formulating solutions to trade the markets. The in-house development team of the company develops EAs and MT4 indicators for traders. It uses custom MetaTrader programming for understanding and historical simulation of design alternatives, allowing system optimizations to meet high standards or performance, and trade-offs among trading methodologies. You can test the programs very thoroughly with multiple scenarios that make catching errors and troubleshooting existing issues easy. As a result, traders get advantages like shorter development cycles, cost savings, and higher quality forex robots and systems.

  5. Alpha NovaeAlpha Novae: Alpha Novae is not only a technology provider expert in automated, systematic, and algorithmic trading but it is also a consulting company. It provides technical solutions, advisory and operational support, and tailor-made developments. The solutions are useful for both serious individual traders and industrial clients like systematic trading start-ups, asset managers, hedge funds, and proprietary trading firms. The expertise of Alpha Novae includes using automation and smart execution to cut overall costs of traders and connecting the client’s algorithms to market with extra-low latency. Other services include multi-broker solution, alphamonitoring, alphasearch, and brokerage.

  6. AirbionicfxAirbionicfx: Airbionicfx helps its clients to create their indicators and EAs on MQL4 and MQL5. The company offers a wide range of services for both traders and resellers. Apart from EA and indicators development, traders are provided with services like scripts for semi-automatic trading, MQL project modifications, code protection from decompiling, and custom integrations with external data sources and libraries. Resellers get services like local and web source code protection, installers for MQL products, automatic payment processing for customers, trade copy solutions, access control, and license management, customers usage statistics, and control panels and dashboards.

  7. 4XDev4XDev: 4XDev is one of the few programmers that specialize in both MetaTrader and NinjaTrader. This company provides traders with a complete set of services to fulfill their trading requirements. The development team creates indicators, expert advisors, and other tools like scripts and alerts for traders. They also convert EAs and indicators into the traders’ desired format like MT4 or MT5, Forex Tester 4, NinjaTrader, and TradingView. Moreover, they test and improve tools, indicators, and expert advisors to maximize their effectiveness. You will not get the indicator/EA conversion at most places but 4XDev does it at a reasonable price.

  8. SnapDragon SystemsSnapDragon Systems: Adam Hartley, the programmer of SnapDragon Systems, creates trading software for some of the largest institutions and fund managers in the world. He specializes in doing complex programming projects. The company provides services like TradeStation/Multicharts programming, MetaTrader programming, trading systems testing, Forex tester programming, API development, MetaTrader historical data provider, and backtesting data provider. Adam also offers an online MetaTrader 4 programming course for beginner traders. Some of his clients are Barclays Capital, Headstart Fund, the European Bank for Reconstruction and Development, and the Tudor Group. You may contact Adam if you are looking for a talented forex programmer.

  9. MT4Developer.comMT4Developer.com: MT4Developer.com is MT4 programming solutions that provide traders and financial institutions with programming service. The company aims to maximize traders’ profit by using MetaTrader 4 Automated Trading Program like EA, scripts, and custom indicators. Apart from programming and modifying these, the company offers services like providing EA/CI/scripts protections with DLL, securing EA/CI/scripts using hardware id, account number or user id, and time limit. Moreover, you can accept all EAs requests performing by using both custom indicators and non-indicator such as hedging system, martingale system, stealth, trade management, and more. Apart from these, there are some basic features such as lot size, compatibility with 4/5 digits broker, fixed take profit/loss, breakeven, the magic number, etc.

  10. TradingCodersTradingCoders: TradingCoders has its own system to obfuscate, copy protect and license EAs and MetaTrader 4 indicators. The company helps to remove key elements from your code and moves it into encrypted DLLs. The licensing code lies within these DLLs, and TradingCoders also configures the code as per the clients’ requirements. Coding services include customised programming solutions for EAs, strategies, indicators, studies and formulas to the client’s specifications. The SaveAndLoad feature saves and loads files of parameters. With the MirrorLines feature, traders can view the market’s hidden lines of force automatically. Apart from these features, the company also offers consulting and conversions services.

We hope this list helps you find you the forex trading programmer you are looking for.


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