It’s hard to imagine modern life without computers. They are everywhere: at work, at home, in your pocket, in all kinds of equipment that works under the control of a person, or almost independently. The computer has become a necessary tool for every trader. Automated trading software has made the stock shares trading procedure very easier for beginners and investors.
Can a computer start making money on its own? You just need to teach him a little, put into it a simple algorithm – buy when it gets more expensive and sell when it gets cheaper, share with him your experience of victories and warn against annoying failures. That is why there is a function of automatic trading in the MetaTrader4 ™ terminal, which is implemented with the help of the so-called Expert Advisors.
MetaTrader4 ™ Expert Advisors are programs developed in the MetaQuotes Language 4 (MQL 4) programming language and allowing you to automate analytical and trading operations. Expert Advisors allow you to automatically analyze the current situation and, based on the received signals, they are able to issue commands to execute trade operations and manage open positions.
The MetaTrader4 ™ client terminal has its own Expert Advisor development environment – MQL4 IDE. It includes:
- MetaTrader4 ™ terminal is a module for managing and executing auto-trading programs.
- MetaQuotes Language 4 (MQL4) is a direct programming language for trading strategies.
- MetaEditor is an expert advisor editor and compiler.
- Strategy Tester is a module for testing and optimizing Expert Advisors.
The technology of testing advisors on historical data allows you to get results that are as close as possible to the results of testing advisors online on a demo account. At the same time, checking the effectiveness of the advisor for a period of several years will take no more than a few minutes, that is, you will not have to wait for years to confirm the profitability of your trading tactics!
What automatic trading gives a Trader?
1. The ability to create an automated strategy that trades around the clock without the participation of a trader.
2. The opportunity to partially remove the routine of trading operations and focus on creative work, for example, developing and optimizing a new trading system.
3. The ability to implement a trading system that cannot be applied with manual trading.
4. The ability to use trading strategies created by other authors simply by copying program codes.
5. The ability to get trading automation tools:
- Advisors that give only signals;
- Tools for collecting various statistics;
- Implementation of the missing functionality.
6. The ability to create an individual strategy tester:
- Calculation of unique indicators that you need;
- Use of unique copyright trading systems.
Creation of advisors
MetaEditor is used to create Expert Advisors. To start the Expert Advisors editor, you need to execute the “New” command of the context menu of the “Navigator – Expert Advisors” window, When you create an Expert Advisor, the Expert Advisor Wizard will automatically open, allowing you to quickly start working with a new MQL4 program.