Topic: Custom .mql4 .ex4 Based Indicator Import

Good day!

Getting acquainted with the builder, couldn't find a simple way to import the MT4 indicators.

Could anyone experienced kindly advise on that feature?

If FSB has such ability, at all..

Will much appreciate your help!

Re: Custom .mql4 .ex4 Based Indicator Import

Hello GeoFX, you're welcome.

Indicators in MetaTrader have return only values of the indicators. To trade you need trading logic which is not present in the indicators.

To make an indicator “able to trade” we have added logical rules to the indicators in our software. So for each indicator you include you can choose when it should “tell” the program to open or close a position.

According to the movement of the market those rules get satisfied or not.

If you put your MetaTrader indicator in our software (even if it let you) it does not have any trading rules programmed into it. It could only return points to draw a line on a chart. Since it does not have any trading logic rules programmed into it you won't be able to use it for automatic trading unless you write those rules into it.

On top of that we should say here that with the current indicators included in FSB Pro and EA Studio there is a practically infinite number of possible trading strategies that can be automatically generated and adding one indicator to a field of infinite possibilities won't add much, if anything.

Another reason is that custom indicators are often flawed and might use future data on a backtest that would not be available when trading in real market conditions.

This is why we have limited support for custom indicators.

FSB Pro supports custom indicators in C# (since this is the language the program is written in). If you want to use a custom indicator you might find it in the Repository or code it.

Read more about it at our FAQ Page and wiki.

Vinicius Pereira, Portuguese Support. Olá se precisar de ajuda entre em contato segunda à sexta: 09:00-18:00; via direct MP, e-mail ou acesse (Pt) Grupo TelegramMQL5 Profile

Re: Custom .mql4 .ex4 Based Indicator Import

I can only regret about the absence of such an obviously high-demand option, as not all the indicators are of equal quality. MQL indicators are the most popular and currently, being used by the vast majority of the traders.   

Confident, the mq4 indies FSB support option would open up the gates to the multiple number of the new FSB users (hint: more purchased licenses=profit), that wish to have such a comprehensive tool for custom based indicators EA creation.

Can only hope the FSB dev's will some day consider the implementation of the mq4 buffer-reading based indicators import ability.

Re: Custom .mql4 .ex4 Based Indicator Import

GeoFX, I'll replace FSB with MT and indicator with Strategy in your question:

-> Getting acquainted with MT, couldn't find a simple way to generate trading strategies.

Please ask yourself how is possible such old and popular software as MT to lack common functions as Strategy Generator and Strategy Reactor.

The purpose of FSB and EA Studio is to generate strategies in a fast and reliable way. It doesn't implicitly mean that we have to use all indicators from MT. We don't need to.

Confident, the mq4 indies FSB support option would open up the gates to the multiple number of the new FSB users

It was fun when new users give hints for the software and the business ten years ago. Now I'm just trying to ignore these.

However, I'll make a compromise for you. Purchase the software now and I'll add one new standard MQL indicator to FSB Pro of your choice.

Re: Custom .mql4 .ex4 Based Indicator Import

GeoFX, you can copy/paste your MQL indicators in the "C:\Program Files\Forex Strategy Builder Pro\User Files\Indicators" folder.

Than restart FSB Pro and run the Generator. It will find strategies for any market you choose. (However, I don't guarantee that the generated strategies will include all or any of your indicators.)