HFM information and reviews
HFM
96%
FxPro information and reviews
FxPro
89%
FXCC information and reviews
FXCC
86%
XM information and reviews
XM
81%
IronFX information and reviews
IronFX
77%
Just2Trade information and reviews
Just2Trade
76%

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

Chainlink: Is It on Track for a Bull Rally?

If you have recently watched the crypto charts, you can see the growing popularity of many coins, including Chainlink (LINK). And while so many assets are on the bull run...

What is paper trading?

The term 'paper trading' comes from the stock exchange market, where investors who wanted to practice would write their investments on paper...

Day Trading While Maintaining a 9-5 Job: Strategies, Considerations, and Balancing Act

The world of day trading, with its tantalizing potential for financial gain, has become increasingly accessible even to those who hold down conventional 9-5 jobs...

How to trade Forex on news releases

News trading can be risky and profitable at the same time. Learn how traders use the news to trade and win in the financial markets. Prices of financial...

Trading the FTSE All Share Index

The London Stock Exchange (LSE) is one of the oldest and most important financial institutions in the world, and in case you have heard of the...

Short Selling vs. Puts: An In-depth Analysis of Market-Contrarian Strategies

Navigating the intricate landscape of the stock market can be overwhelming for newcomers. Amidst a sea of financial jargon, you may have come across terms like "short selling" and "puts" without a clear understanding...

How not to fall prey to the Black Swan

The black swan is a sudden unpredictable event with enormous consequences - this is a brief description of this term, which became widespread...

Online Cryptocurrency Trading: Features and Advantages

The year 2008 marked the birth of the crypto market. It was in August when the domain bitcoin.org was registered and the description (White Paper) of the cryptocurrency was published...

What Is Equity: A Complete Guide

Equity, also referred to as shareholder equity, is one of the most common terms in the financial markets that almost every investor or trader has come across at least once...

What is blockchain technology and how does it work?

Blockchain technology provides an innovative way to securely record, store and transfer data. Blockchain is the technology that makes cryptocurrency possible...

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...

Six factors that determine currency exchange rates

Understanding the forces that influence currency exchange rates is key for successful Forex trading. In this type of market...

AMarkets presents a new tool: Trade Analyzer

AMarkets works every day to create the best trading conditions for its clients. To make your trading process easier, more convenient and even more profitable...

Pros and cons of trading Forex with Bitcoin

Cryptocurrencies are gaining popularity again. It's the perfect opportunity to use them for your trading portfolio, especially the ever-popular Bitcoin. Here's a short...

Is it Still Smart to Trade in Precious Metals?

Is precious metal trading still traders’ choice? People have been putting value on precious metals since the beginning of time. The price of gold was $35 per ounce in 1971...

Nasdaq - Are Tech Stocks the Future?

The US Stock Market has more than $100 trillion worth of stocks sold yearly, with technology stocks such as Apple and Netflix becoming more popular. However, not many...

What's best: Forex robots or trading strategies?

Regular winners of Grand Capital contests sometimes honestly admit to the use of Forex robots. Meanwhile, many participants use contests to test their trading strategies...

Why trade cryptocurrency CFDS?

What would you do today if you learned cryptocurrency trading five years ago? Cryptocurrency is a new venue for many people looking for an alternative platform to invest in

Trading opportunities during the football world championship

The world football championship is fast approaching. Fans around the world are already thinking about how to best spend their time during this event, and soon...

What are Interest Rates and How to Calculate Them?

Every country around the world strives to create the best economic conditions and provide financial security to their citizens. However, the unpredictable nature of the global...

T4Trade information and reviews
T4Trade
75%
Riverquode information and reviews
Riverquode
75%
FXCess information and reviews
FXCess
75%
Fintana information and reviews
Fintana
74%
AMarkets information and reviews
AMarkets
60%

© 2006-2026 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.