Expert Advisors (EAs) are programs that run on the MetaTrader platform, used to monitor and trade financial markets using algorithms: finding opportunities according to set parameters, then either notifying you or opening a position automatically. And once your position is open, an EA can add close conditions including stops, trailing stops and limits.
You could, for example, use an EA to monitor a few key markets, alerting you when it finds a chance for potential profit. Or you could open multiple positions each day with little human input.
For most traders, EAs are primarily used for forex trading. But you can use them to trade any market that’s available on your MT4. If you’re an IG client, for example, you can use an EA to trade forex, indices, cryptocurrencies and commodities on an enhanced MT4.
From a psychological point of view, the forex expert advisor is irreplaceable. A trader decreases the responsibility for decision-making, and the trades become less stressful. The trader does not need to have an in-depth knowledge of technical and fundamental analysis, since all the calculations are already included in the program. Besides, the advisor is able to handle the trading signals even when the trader is absent from the workplace.
Forex Expert Advisors for MetaTrader4 are written in the MQL4 programming language. This language was developed by the manufacturer of the trading terminal specifically for writing expert advisors. It allows the trader to program the trading system without any difficulty, which will trade in online mode day and night. Programmers familiar with this language will not have any difficulty in doing the job. For ordinary users this will be a more difficult task.
You can create your own technical indicators for more effective work by the advisors. They will be a great addition to the existing indicators in the MetaTrader4 terminal. The purpose of using advisors indicators is to implement analytic functions and generate trading signals.
The MetaTrader4 trading terminal has several built-in expert advisors. They have the function of an independent trading system and dub the trading signals. They are very popular among beginners and were created specifically to demonstrate the abilities of programming the MetaTrader 4 Client Terminal.
The possibilities in creating your own advisor are simply dazzling. You can set various orders by price and time, automatically open the counter orders, etc. These programs are able to replace the trader at their workplace
renkoscalper.com is a MQL4 developers team which produces professional automatic trading solutions for nearly 5 years. We would like to share our coding experience with all the people who cannot code, but are interested of automatic trading and would like to get a professional software. We will provide you our unique Forex EA automatic software trading robots which you can take as a great opportunity to earn money on Forex markets. This is a new innovative and automated way to save time and money! All our products are unique and original.
We offer many kinds of Forex EA, Indicators along with other tools based on best trading strategies, so all kinds of investors could find something useful and what fits their trading style best! We are also here to help people getting common sense about currency markets by providing various tips and articles with useful information.
Our goal is to help people who are interested investing in Forex markets using automatic, manual and semi-automatic systems.
Our mission: develop best global trading solutions so that every person on the planet would be capable of using and help developing latest trading technologies.
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