HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
XM information and reviews
XM
86%
Exness information and reviews
Exness
86%

MetaTrader 4. Advanced Features


As people are becoming more dependent on electronic devices, many forex brokers now offer applications to support MT4 on mobile devices. The functionality of the MT4 application is similar to that of the desktop version. Traders can access charts, utilize technical analysis tools, and place and manage trades. While MetaQuotes currently supports only the Windows operating system (OS), third-party brokers have made Android and iPhone applications available. At the end of 2011, MetaQuotes announced it would soon be releasing applications for the iPhone operating system.

While most forex brokers do offer mobile apps, they do not always provide apps for all of the different operating systems. If the mobile app feature is a priority, confirm with a broker ahead of time that it will be able to support a particular operating system. Certain brokers charge a fee for the application, or charge for a license key, while others give it away. A quick call to a broker’s customer service number, or an online chat, can provide details regarding operating systems and fees, if any. Specific installation instructions are typically provided on each supporting brokers’ web site. (For related reading, see How To Pay Your Forex Broker.)

Expert Advisors

MT4’s Expert Advisor (EA) program can be used to implement trading strategies and automate trading. The proprietary programming language is called "MetaQuotes Language 4," or MQL4. Traders can write their own custom indicators and/or strategies using the platform’s "MetaEditor"feature. To open, click on "Tools" and select "MetaQuotes Language Editor," shown in Figure 18, or click on the "MetaEditor" icon in the toolbar. This will open the programming environment.
While details regarding the creation and usage of MT4’s Expert Advisors are outside the scope of this guide, helpful information can be found in the "MetaEditor" window by clicking on "Help" and selecting any of the subheadings under "MQL4 Community," including MQL4 Website, Book, Documentation, Articles, Code Base and Forum. This online community offers free support, and members can post questions such as, "How can I write an EA that will allow me to enter simultaneous buy and sell orders to capture a breakout?" and other community members can post responses. The "MQL4 Code Base" offers free EAs that other members have posted, including a description of the purpose and application of the code. (For related reading, see Is Your Forex Broker A Scam?)

The MQL4 community provides support for MT4’s proprietary programming language

The MQL4 community provides support for MT4’s proprietary programming language.

Once EAs have been written or otherwise acquired, they can be attached to any chart to perform a variety of functions, including technical analysis, as with indicators, or even trading automation. EAs, Custom Indicators, and Scripts (programs that are executed on request that are intended to perform a single action) can be added to a chart by clicking-and-dragging, or by double-clicking the desired item within the "Navigator" window, as shown in Figure 19.

Double-clicking on an EA, indicator or Script will apply it to the active chart. Traders can also simply click and drag the item onto a chart

Double-clicking on an EA, indicator or Script will apply it to the active chart. Traders can also simply click and drag the item onto a chart.

In addition to the "Help" menu in the MetaEditor window, clicking on "Help" in the MT4 window and selecting "Help Topics" will open the MT4 User Guide, which has lots of documentation regarding the creation and application of Expert Advisors, Custom Indicators and Scripts.

#source


RELATED

How to make money on meme stock?

Meme stocks are shares that gained popularity and achieved a cult-like following on social media. As a result, private investors in online communities can create hype and influence the price of individual shares...

Can ChatGPT trade better than humans?

AI machine learning models are a hot topic right now, and ChatGPT is the name on everyone’s lips. Some believe AI will inevitably lead to millions of job losses...

What Are Bitcoin Options? Bitcoin Options Vs Bitcoin CFDs

Everywhere you turn in financial sector, the focus is on Bitcoin and cryptocurrencies. Businesses are now adopting blockchain or supporting digital currency for payments...

What is a Pump-and-Dump Crypto?

A pump-and-dump scheme is a crime in which criminals accumulate a commodity or financial asset over time and artificially inflate the price by spreading...

Mobile Trading: Revolutionizing Financial Markets

The advent of mobile trading has transformed the financial landscape, offering unparalleled flexibility and accessibility to traders worldwide. This comprehensive guide delves into the intricacies...

Common Knowledge is a Trading Trap

It is no secret that trading can be just as risky as it can be profitable. Many amateur traders dive into it without a proper plan or strategy in place, which costs them lots of money. But an even bigger mistake they can make...

The Benefits Of Cryptocurrency Explained: Should I Trade Cryptocurrencies?

Gold has been in use for ages, and the stock market dates back hundreds of years. Cryptocurrencies have been around for more than a decade now...

A Guide To Risks In DeFi: Are Exploits A Sign DeFi Is Still Too Risky?

At first glance, decentralized finance, called DeFi for short, is the next big thing in finance, ready to replace traditional banks and financial services that have been around...

Is the US market too expensive during COVID-19?

Global financial media have reported the "extreme cost" of the US stock market in recent days. In theory, this should be followed by an imminent collapse...

Maximize Your Profits in 2022 Through the Best Forex Advisors

Practically all modern Forex expert advisors are built on the foundation of the complex programming language called MetaQuotes versions 4 and 5, which are also used...

Is money really its worth

While using money as a form of exchange in our everyday life, very few people really understand how money receives its value. Money is used practically under...

Risk Management in Cryptocurrency Trading

The cryptocurrency market is still quite new and unusual for most forex traders. Non-standard, as compared to traditional...

The Top 10 Forex Brokers With Tightest Spreads

One of the main rules of money management in Forex lies in taking the broadness of the spread into account when executing trades. Low spreads in Forex means...

Discover how to trade commodities CFDs in 2020

Learn the basics of how to trade commodities CFDs. Discover types of commodities trading (precious metals, energy, food crops) and commodity brokers...

Bitcoin Trading Strategy Never Works

Bottom-picking is one of the most profitable plays you can make in trading cryptocurrencies. It's also one of the most difficult times to pull the trigger...

Mastering Stock Trading in Diverse Markets: A Deep Dive into Strategies and Nuances

Navigating the vast sea of stock trading is akin to art. The canvas of the stock market, with its myriad colors and shades, showcases a spectrum of opportunities...

Copy Trading Strategies: How to Start Successful Copy Trading

To be a successful copy trader, you need to understand quite a bit of nuance and things to ensure that it is the profitable venture you are hoping for...

Forex Vs. Stocks - What are the Differences?

In the Olymp Trade platform, traders can choose Stocks or Forex trading mode, each optimized for their respective trading instruments. The fundamental difference between...

Unlocking the World of Commodities: An In-Depth Exploration

Commodity markets have often been portrayed as a realm for high-risk individuals, and while there's some historical accuracy in that depiction, the reality is that nearly every type of investor engages in commodity markets...

The Nine Biggest Risks Of Trading Cryptocurrencies

While the cryptocurrency space has become an increasingly exciting one, and more and more mainstream, it is still a new space that comes with certain risks...

FP Markets information and reviews
FP Markets
81%
IronFX information and reviews
IronFX
77%
AMarkets information and reviews
AMarkets
76%
Just2Trade information and reviews
Just2Trade
76%
FXNovus information and reviews
FXNovus
75%
T4Trade information and reviews
T4Trade
75%

© 2006-2025 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.