MetaTrader 4 Expert Advisors (MT4) by WikiFX

Expert Advisors (experts) are terminal programs written in MetaQuotes Language 4 (MQL4) and used to automate analytical and trading procedures. They enable a quick technical analysis of price data and management of trading operations based on indications obtained. Experts can handle the complete regular labor of technical analysis and trading. An expert may do analytical and trading operations on any symbols or periods, regardless of whether the associated chart is open or closed.

Working with specialists entails the following:

• Expert Development - The built-in “MetaEditor” must be used to build and construct an expert. It is a client terminal component that provides a suitable development environment for MQL4 applications.

• Setup by an Expert - Experts must first be set up before they can be used. The client terminal settings include working parameters that are shared by all experts. Furthermore, each expert may have their settings.

• Expert's Publication - To launch an expert, it must be included in the chart. The expert will begin executing as soon as a fresh tick revenue is received.

• Expert Discontinuation - After being removed from the chart, an expert adviser is deactivated.

Learn more about Expert Advisor and how they may assist you with your trading.

Development of new trading robot characteristics

The syntax of the new MQL5 language is identical to that of MQL4, however, MQL5 applications run up to 20 times quicker. This is achievable because all MQL5 language functions are implemented as efficiently as possible, and the compiler aggressively optimizes the resulting executable EX5 code to reach MQL5 application performance.

The second reason is the introduction of asynchronous operations that may be completed in fractions of a millisecond. These transactions provide chances that were previously inaccessible to many experienced traders. You don't require third-party connections to exchange protocols with the fifth-generation platform. Furthermore, you do not have to position your terminals as near to a broker as feasible. Simply get a VPS close to the trading server and command your fast MQL5 robot to trade there from the terminal. Low network costs, high Depth of Market refresh rates, and asynchronous order transmission speed up trade processes thousands of times, enabling you to create trading robots for a new class of strategies.

MQL5 includes event handling, which simplifies and simplifies the development of complicated trading algorithms. The Trade and TradeTransaction events are provided to the terminal during each trading activity to be handled by the relevant handlers. Orders, positions, and trades are treated as distinct entities in the new interface, since you may now trade not only Forex symbols but also exchange instruments. To deal with trade functions, the Standard Library provides ready-made Trading Classes. The classes make it easier to create trading activities. You simply need to define the CTrade type variable to get all of the functionality required to operate with all order types.

Assemble a robot using MQL5 Wizard modules without writing a single line of code to rapidly test your trading concept. The ready-made trading signal, open position tracking (trailing stop), and money management (setting volumes in trading operations) modules enable the creation of an infinite number of trading strategy variants and the combination of many signal types in a single EA. As a result, the new terminal enables the development of intricate tactics even without programming knowledge.

Another benefit of the MQL5 programming language is the ability to deal with the Depth of the Market and access the tick history. Analyze Time & Sales in an EA and build strategies based on pricing changes and deal volume. When testing on actual ticks, the trading server in the new platform saves a tick history for each symbol and transmits it to the terminal on demand. The MetaEditor development environment enables EAs to be debugged and profiled directly in the strategy tester, allowing for fast testing of trading algorithms in various market scenarios. Such a test will take a few minutes or hours in the tester, but a traditional online test of robots may take days or weeks.

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