| AUTOMATED TRADING IN METATRADER 4 |
| Written by Ivan Yurukov |
| Saturday, 12 December 2009 21:05 |
 Automated trading is a relatively new technology but very much promising. The main idea is to manage your accounts by computer program. In MetaTrader 4 analyzes these market assigned programs are called 'Expert Advisors'. In other words, MetaTrader 4 decide when to trade and traders only observe transactions. Of course they can to stop the automatic trade anytime if they consider it is necessary. To see examples of such results you can visit the website of the annual Automated Trading Championship. In the client terminal MetaTrader 4 the language MetaQuotes Language Integrated Development Environment (MQL4 IDE) is included . This environment consists of the following parts:MetaTrader 4 terminal - module where automated trading programs trade through your accounts. Manually trade is also performed. MetaQuotes Language 4 (MQL4) - programming language, which serves to implement trading strategies. MetaEditor - editor and compiler of expert programs 'Expert Advisors'. Strategies Tester set out in 'Expert Advisors' - module testing and optimization of Expert Systems ('Expert Advisors'). With these instruments you can create your own Expert systems. All Expert systems are set up in MQL4 MetaEditor. Then Expert Systems ('Expert Advisors') is compiled and appears in the client terminal where it can be tested by Strategies Tester and start working. MQL4 uses similar language, which is one of the fastest and most functional languages and valued in the world. Its flexibility makes it possible to carry out a thorough check of all parameters of the expert system 'Expert Advisors'. This enables developers to automate virtually any trading strategy. As for its speed, MQL4 surpasses all existing specialized languages for trading systems and takes the second place among the languages of such high-level such as Java and C + +. This combination of broad functionality and high performance makes MQL4 first choice of the majority of traders. Except for Expert systems (Expert Advisors), you can use MQL4 to create custom indicators and scripts. User indicators are complete analogues of those embedded in the terminal. They are indispensable for the analysis of the evolution of financial instruments.They indicate signs of entry and exit. If these built in technical indicators (indicators) are not enough, you can create your own or use others developed by other traders. Scripts are small programs that automate frequently repeated actions. Unlike expert systems 'Expert Advisors', scripts are executed only once, but not with every tick (price change). For example, a typical script may be a small program that closes all open positions for all instruments.
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| Last Updated on Friday, 07 May 2010 10:17 |