If you want to get into forex algorithmic trading, you might be interested in coding a completely custom algorithm rather than relying on someone else’s trading bot.
If you already know how to code, great! You can dive right in. But if you are not a coder, you will need to learn the basics before you can code your own algorithms. Let’s lay out a map of how you can proceed.
What Programming Languages are Used for Forex Algorithms?
First of all, you need to decide which programming language to focus on. There are tons of languages out there, but these are the most common ones used for programming forex trading algorithms.
• Python: If this is your first time learning a programming language, Python is arguably the easiest and most intuitive. It also works great for forex algorithms.
• C++: If you are programming for a low latency method, you should consider C++, which works great for these applications. C is also a good entry point for learning programming. It also gives you a good foundation for later learning MQL4 and MQL5.
• Java: Like Python, Java is considered a solid all-around choice.
• R: This is a favorite programming language among statisticians. It is not surprising that it is useful for trading algorithms.
• MQL4 and MQL5: These are the programming languages for MetaTrader. MQL stands for “MetaQuotes Language.” It’s a lot like C++, and was developed especially for people building trading algorithms.
Still not sure what to learn, or feeling overwhelmed? Go ahead and pick Python, and get started.
How to Learn to Code Forex Algorithms
After you decide which programming language you want to learn, how do you do it?
• Online tutorials
• Online courses
• Videos
• Projects
Here’s a little more information about each of these. You will probably learn best through a combination of resources.
Online Tutorials
An excellent starting point is an online tutorial. There are dozens of free tutorials out there for every programming language. The really popular languages like Python have a huge selection available.
Find a highly-rated tutorial for beginners, and get started. Some of it will just be reading, while other parts will give you exercises and projects to work on.
Most tutorials can be accessed using your browser with no downloads. But you will need to install the language you are learning so you can do the exercises. The tutorial will probably walk you through how to do this right at the beginning.
Online Courses
An overlapping category of learning resources are online courses. We’re discussing these separately, because they tend to be a bit more “formalized” than simple tutorials.
An online course might be offered by a university, a code camp, or another organization. It may be free or paid. Some online courses in programming award certificates or university credits, while others do not.
Pick a course that you can afford which receives good reviews, and which is being taught by a reputable institution. If you want a cert, go for it. But if your main goal is just to work on forex algorithms, you don’t need one.
Videos
If you prefer video content over written content, check YouTube. There are a lot of free video courses on programming languages. You should be able to find some that suit your needs.
Projects
At some point, you are going to need to start doing projects. Some of these could be assignments included in a course or tutorial. But you will eventually need to start assigning yourself some projects as well.
Programming is a skill that is mostly developed through doing. You can try ideas that are similar to the assignments you have already done, or you could start working on trying to code an algorithm. Eventually, you will have to get there, and nobody is going to do it for you. Don’t wait until you feel comfortable. Just take the leap.
Consider joining some communities along the way that focus on programming and trading. That way, if you get stuck or have questions, you will have people you can ask for help.
Another Option: Use AI to Code for You
What if you just cannot get the hang of programming, or you simply do not want to learn it? There is another option for getting a customized forex trading algorithm, and that is to use AI to assist you with development.
What you can do is try prompting an AI chatbot like Claude, Gemini or ChatGPT. Tell it exactly what the rules are for the trading algorithm, and what programming language you want it to use. The more specific and exacting your instructions are, the more likely the AI will do what you want.
The AI chatbot should be able to write the code for you. You can then attempt to compile and run it, and see if it works as expected.
If it does, then you can go ahead and import your new trading algorithm to your trading platform, and start using it. If it doesn’t, you will need to make some adjustments. You can either ask the Chatbot to make some changes, or you can try to do it manually if you have learned a bit about coding.
Even if you have little or no coding knowledge, you may be successful in creating your algorithm.
Make the Most of Your Programming Journey
After you have coded your own trading algorithm, with or without AI assistance, you will have a process you can use to create even more algorithms. Along with using them to trade, you could also sell them to other traders.
If you learned to program during this journey, you will find yourself with an extremely useful job skill. You might even be able to use it to get a new day job, or an extra side gig. You can use the extra income to help fund your forex account.
