The forex expert advisor is a program capable of performing in the terminal any action following the instructions of a trader, without his direct involvement. All tasks are performed automatically or mechanically, which is why the advisors are called experts or mechanical trading systems (MTS). Simply put, this is a program sending applications to a broker without any intervention on the part of the trader. You install a profit forex expert advisor to the existing forex online trading platform, which is connected to the server broker, adjust all the settings, and the advisor will begin trading according to a preset strategy.

Benefits of Forex Expert Advisors

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.

Writing An Forex Expert Advisor

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.

Forex Expert Advisors Indicators

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.

Built-in And Own Forex Expert Advisors

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.

Testing Forex Expert Advisors

The trading terminal can not only write advisors, but also check them on historical data before using, which is another unique feature of using the advisors. Testing is very useful, since it helps to measure the ability and effectiveness of a mechanical trading system on historical data, estimating the chances of future earnings and errors. If you have tested the advisor, and know how it will behave in different market conditions, you can begin trading without needing to intervene. For this purpose, the terminal has a special window where you can also optimize the input parameters of advisors.