• Market Analysis Guide
  • Intro
  • Technical Analysis Guide
  • Bill William’s Chaos Theory
  • Japanese Candlesticks Theory
• Video Tutorials
  • Intro
  • Alpari Research: Technical Reports
  • What is Forex and How Does It Work?
  • Introduction to Charting
  • Introduction to Technical Analysis
  • Risks
  • Using Technical Indicators
  • Introduction to Fundamental Analysis
  • Gold and Silver
  • Money Management
  • Position Sizing
  • Understanding and Trading the News
  • Earning Interest in Forex
  • Introduction to Fibonacci Analysis
  • Economic Indicators
• Autochartist
  • Intro
  • Download Autochartist
  • Autochartist Tutorials
• Glossary

Expert Advisors in MetaTrader 4

The Expert Advisors technology is a new method of trading which gives you an alternative to doing so manually. Expert Advisor, written in MetaQuotes Language 4 (MQL 4), automatically analyses current market situations, opens/closes positions and places/modifies/deletes orders.

With the help of Expert Advisors you can:

• Avoid everyday manual routines by automating the process of trading and monitoring orders.
• Be more scientific and rational in your decision making process.
• Keep track of the current market situations.
• Implement your trading strategy in Expert Advisor by using MetaQuotes Language 4 and your MetaTrader 4 will manage your trading account without the need to be present 24 hours a day, 5 days a week.

MetaQuotes Language 4 is used to write:

• Expert Advisors – mechanical trading systems which can be used either for trading alerts or for trading and monitoring orders (automatically, without your presence).
• Custom Indicators – indicators created by you or other users of MetaTrader 4 client terminal in addition to the in-built technical indicators, integrated into MetaTrader 4.
• Scripts – modules which execute repeated actions.
• Libraries - frequently used user's programs.
  

MetaQuotes Language 4 allows you to call functions from the external dll-libraries and get access to the computer file system. This makes it possible to implement trading strategies of ANY complexity.

The new Expert Advisors testing technology uses historic data. Using this data you can test the effectiveness of your trading strategies, usually within just a few minutes.

MetaQuotes Language 4 is very easy to learn and understand even for those who have no or limited experience as computer programmers.

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