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Thread: What is an Expert Advisor?

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    Member nirmaldu is an unknown quantity at this point nirmaldu's Avatar
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    An Expert Advisor is a piece of software written specifically for the MetaTrader Platform. Trader is an expert advisor that works on MetaTrader 4 Platform.expert advisor is a software written in metaquotes language for the meta-trader platform.

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    Member rashel55 is an unknown quantity at this point rashel55's Avatar
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    Expert advisor is a software written in metaquotes language for the meta-trader platform. it automatically trades according to its strategy and opens buy and sell orders . different expert advisors have different settings and you can set it according to your need. Ie, money management, risk management,etc. all u have to do is to set it up and then it will automatically open and close trades.
    but i would not recommend to use expert advisors because they can blow away your account. and they cannot understand or trade when some major news comes and thereby blowing your account. There are many kinds of them so choosing the best would be prudent on our part. As you can see technology has been taking over in all possible fields.

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    Senior Member Andra FX is an unknown quantity at this point Andra FX's Avatar
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    In MetaTrader 4, there is a function called "Expert Advisor" EA commonly abbreviated, or we used to know well with the term robot. This function is used to instruct the computer to automatically analyze the charts and then make trades based on the results of the analysis. Of course, so that the computer can do it automatically, we need to provide a rule or rules, so that the computer can translate wishes and our trading strategy.

    For ease of understanding, we provide the following illustration:
    You are trading in the EUR / USD with H1 timeframe.
    You want to open a buy, at any price up through the highest point in the last 5 hours.
    You want to open a sell, at any price down through the lowest point in the last 5 hours
    With the obvious rule is, you can translate it in a programming code, and make their own EA through MQL Editor that is provided when installing MetaTrader 4.
    After EA so, simply pairing on H1 timeframe, then the computer will open a buy position and sell itself, without requiring you to click on any button. Thus certainly easier for traders, because it will not miss any moment analysis and, and not have to sit at the computer for hours waiting for a signal to open a position.

    Basic steps to create a robot that is able to generate profit is as follows:
    Think of your trading rules and strategy and translate into a complete and clear patterns. Example: Go buy if the pair moves up for 5 straight bar, then close the position if the highest point is at last bar below the highest point of the previous bar.
    Pour the steps detailed at No. 1 earlier in the MQL programming language. If you have trouble, you can read a detailed guide to MQL Editor Help.
    After EA was compiled, do backtest several times and find a favorable setting. Perform forward test with the best settings for 1-2 weeks.
    If it continues to profit, then run the EA on real account and reap the profits, even while you sleep at night.

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    Senior Member mhwaheed is an unknown quantity at this point mhwaheed's Avatar
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    Expert Advisor mostly use for Robot and Auto Trading. its good Option in MT4 for more you visit Instal site

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    Member don1 is on a distinguished road don1's Avatar
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    we can set different advisers according to our own permission.it written in meta-quot language for the meta trade platform and it works automatically trades according to its strategy and do sell and buy trades.

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    Senior Member Andra FX is an unknown quantity at this point Andra FX's Avatar
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    Quote Originally Posted by don1 View Post
    we can set different advisers according to our own permission.it written in meta-quot language for the meta trade platform and it works automatically trades according to its strategy and do sell and buy trades.
    An Expert Advisor is a piece of software written specifically for the MetaTrader Platform. An Expert Advisor can just advise traders which trades to make or can be programmed to automatically execute the trades on a live account.

    Expert Advisors are very flexible pieces of software that can take any information into account that is available on the metatrader platform. They are written in their own proprietary programming language called MetaQuotes Language Version 4.

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    Member jack25 is an unknown quantity at this point jack25's Avatar
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    Expert Advisor (EA) or often called forex robots can perform some automated trading execution and relatively faster than humans because it is very convenient facility for traders who want the ease of trading ..... but I think it still has a trading robot weakness because it is not always going to work! and generate profits......

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    Expert professionals are used in forex working nowadays thanks to the specialized up****es. There are many kinds of them so best would be sensible on our element. As you can see engineering has been getting over in all possible places.

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    expert advisor is an indicator or a tool that can help a trader to buy or sell determine, analyze the direction of the market, analyze the graphs and other expert advisors are very useful for newbies and professional traders because it is easy to understand and very helpful contohexpert advisor rsi (relative strength index) to measure the saturation of the market so they can pinpoint overbought or oversell and many more expert advisor that is unbelievably helpful for traders

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    Banned muna1982 is on a distinguished road muna1982's Avatar
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    Quote Originally Posted by David rock View Post
    What is an Expert Advisor in forex?
    expert advisors are some script or program to operate automated trading in forex with guide line provided by the trader or the programer. they can make a lot of profit without the help of doing any thing by the trader. some time they are dangerous too and make big loss. so first try them in demo to observed the result of its performance then go for live trading.

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