5 Best MQL5 Code Generators & EA Builders (2026 Comparison)

Looking for the best MQL5 code generator to create Expert Advisors and indicators for MetaTrader 5? Whether you're building your first EA or looking for a faster workflow, these tools can help.

We've compared the most popular MQL5 code generators based on features, pricing, code quality, and ease of use.

Quick Comparison Table

| Tool | AI-Powered | Pine Script Support | Free Plan | Best For | |------|-----------|-------------------|-----------|----------| | HorizonAI | Yes | Yes | Yes (forever) | Beginners & multi-platform traders | | EA Builder | No | No | Indicators only | Visual flowchart builders | | StrategyQuant | No | No | No | Professional genetic strategy discovery | | Forex Robot Factory | No | No | No | Automated EA generation with backtesting | | Build Alpha | No | Yes | No | Genetic algorithm strategy discovery |

1. HorizonAI — Best Overall MQL5 Code Generator

HorizonAI uses AI to generate clean MQL5 Expert Advisors, indicators, and scripts from plain English descriptions. It also generates Pine Script for TradingView, making it the only dual-platform tool on this list.

Pros:

• Generates both MQL5 AND Pine Script from one description
• AI-powered — describe your EA in plain English
• Built-in knowledge base teaches MQL5 as you generate
• Free forever plan with generous limits
• Clean, commented, readable code output

Cons:

• No visual drag-drop builder
• Newer platform compared to some competitors

Pricing: Free forever plan available. Pro plans for advanced features.

Best for: Traders who want fast, simple EA generation with learning tools and dual-platform support.

Try HorizonAI Free →

2. EA Builder — Best Visual EA Builder

EA Builder is a visual tool for creating Expert Advisors using a flowchart-style interface. It supports MT4, MT5, and TradeStation without requiring programming knowledge.

Pros:

• No coding required — visual flowchart interface
• Supports MT4, MT5, and TradeStation
• Free version available (indicators only)
• Established tool with large user base

Cons:

• No Pine Script / TradingView support
• Generated code is often bloated and hard to read
• Free version limited to indicators only
• Visual interface can be clunky

Pricing: Free version (indicators only). Professional version around $97 one-time.

Best for: Visual learners who prefer flowchart-style building.

See detailed HorizonAI vs EA Builder comparison →

3. StrategyQuant — Best for Professional Strategy Discovery

StrategyQuant X is a professional-grade platform that uses genetic programming to automatically generate, test, and optimize trading strategies. It exports to MT4, MT5, and other platforms.

Pros:

• Powerful genetic strategy generation engine
• Extensive robustness testing and Monte Carlo analysis
• Multi-platform export
• Professional-grade backtesting

Cons:

• Very expensive (around $1,990+ for lifetime license)
• Extremely steep learning curve
• Requires significant computing power
• No Pine Script support

Pricing: Around $1,990 for a lifetime license.

Best for: Professional algo traders with significant budgets and expertise.

See detailed HorizonAI vs StrategyQuant comparison →

4. Forex Robot Factory — Best for Automated EA Generation

Forex Robot Factory (EA Studio/FSB Pro) is a web-based platform for generating and backtesting Expert Advisors. It auto-generates EAs based on your backtesting criteria.

Pros:

• Web-based — no download required
• Auto-generate EAs based on criteria
• Built-in backtesting and optimizer
• Relatively easy to use

Cons:

• MetaTrader-only — no Pine Script support
• Monthly subscription ($15-30/month)
• Auto-generated strategies may lack transparency
• Limited code customization

Pricing: Subscription-based, typically $15-30/month.

Best for: MetaTrader-focused traders who want automated EA generation with backtesting.

See detailed HorizonAI vs Forex Robot Factory comparison →

5. Build Alpha — Best for Genetic Strategy Discovery

Build Alpha uses genetic algorithms to generate thousands of strategies and exports to multiple platforms including MQL5.

Pros:

• Generates thousands of strategies automatically
• Exports to MQL5 and Pine Script
• Overfitting filters included
• Custom indicator builder

Cons:

• Expensive premium tool
• Very complex learning curve
• Auto-generated strategies can be opaque
• Overkill for most retail traders

Pricing: Premium pricing (significant investment).

Best for: Experienced algo traders who want automated strategy discovery across platforms.

See detailed HorizonAI vs Build Alpha comparison →

How to Choose the Right MQL5 Code Generator

Choose based on your needs:

• Complete beginner? Start with HorizonAI — the plain English interface and built-in knowledge base make it the easiest way to create EAs.
• Trade on both MT5 and TradingView? HorizonAI generates both MQL5 and Pine Script from one description.
• Want a visual builder? EA Builder offers a flowchart interface, though the generated code can be bloated.
• Professional algo trader with budget? StrategyQuant offers the most powerful genetic strategy discovery.
• On a budget? HorizonAI's free forever plan covers most use cases without monthly fees.

Start Generating MQL5 Code Today

The fastest way to create Expert Advisors and MQL5 indicators is with an AI-powered generator. Try HorizonAI free — describe your EA in plain English, get clean code for both MetaTrader 5 and TradingView.

No credit card required. Free forever plan available.