HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
XM information and reviews
XM
86%
Exness information and reviews
Exness
86%
FP Markets information and reviews
FP Markets
81%

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

What is tokenomics? Understanding the token economy

With thousands of cryptocurrencies available, traders are beginning to think to themselves "What makes one crypto more valuable than another?" Tokenomics will help make sense of this.

How to Make the Most of the Crypto Drop with Shorting?

The crypto market undergoes a clear negative trend that is expected to last for a while. Bitcoin has plummeted by 33% this week and reached the 18-month low...

When is the best time to buy Bitcoin?

Should you buy Bitcoin at $20k or wait for an even bigger drop? There are many arguments in favor of not postponing the purchase of the flagship crypto...

Oscillating Indicators

As their name suggests, oscillating indicators are indicators that move back and forth as prices rise and fall. Oscillating indicators can help you decide how strong...

US Stock Indices: The Past and the Present

There is a saying in the world of finance: "America will sneeze, but the whole world will catch a cold." But what is the way to determine how serious...

What is a Crypto Saving Account? How to Earn Interest on Crypto?

One of the best ways to earn when it comes to financial markets is through this steady return of interest. While most bond and stock traders understand the ability to benefit from interest accounts...

Maximizing Returns with USDT Staking: A Comprehensive Guide

In the dynamic world of cryptocurrency, staking has emerged as a popular way to earn passive income. Among the various digital currencies available for staking...

Mastering Oil Trading: Comprehensive Strategies and Crucial Aspects

The world of oil trading offers a plethora of opportunities for savvy traders, but it also presents unique challenges. Understanding the nuances of trading in Brent Crude and West Texas Intermediate (WTI)...

Why trade indices?

Indices trading is the trading of Contracts for Difference (CFDs) on a stock market index. This is what we’ll be examining in this article. If you ask why trade indices let’s find it out...

Trading based on fundamental analysis

Fundamental analysis has been used for decades by investors wanting to identify the factors that can have an impact on asset values. Such...

What is Non-Deliverable Forward (NDF)?

A non-deliverable forward (NDF) is a forward or futures contract that is settled in cash, and often short-term in nature. In an NDF contract, two parties agree to take opposite...

Navigating the Exciting Challenge of Trading Over 150 Stocks with ModMount

ModMount presents traders with the exhilarating opportunity to dive into one of the largest and most dynamic online markets – the stock market. This platform challenges traders, whether novice or seasoned...

Deciphering Crypto Lending: A Comprehensive Guide to the Process and Pros & Cons

While many cryptocurrency enthusiasts aim to profit from buying, holding, and selling digital assets, a growing number of individuals are discovering an alternative path to leverage their crypto holdings...

Guide to Fundamental Analysis: Unlocking a Trader's Full Potential

In the world of trading, understanding the intricacies of fundamental analysis is paramount. From novice traders just dipping their toes into the world of finance to seasoned professionals with years of experience...

InvestLite: Bitcoin investment explained

Bitcoin is digital money that does not physically exist. However, there are special registers where information is stored about how many bitcoins someone...

Deep Dive into the Crypto Lexicon: NGMI vs WAGMI

The world of cryptocurrency is not just about trading and investing; it's also about a culture that has its unique language. Terms like HODL, which is shorthand...

Crypto CFDs: A Guide to a Safer Cryptocurrency Trading Approach

The unprecedented rise of cryptocurrencies has grabbed the attention of both novice and seasoned investors. While many venture into direct trading of cryptocurrencies...

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...

Forex Hedging: Shielding Your Business from Foreign Currency Risk

Forex hedging stands as a cornerstone of currency risk management, a strategic shield that businesses employ to safeguard themselves against losses arising from the unpredictable fluctuations in foreign exchange rates. In essence, it involves the acquisition of financial instruments or products to shield an enterprise from unforeseen shifts in exchange rates.

All You Need to Know About Trading in the Best UK Penny Stocks in 2021

Ford, JD Sports, and Monster Beverage were among the many well-known firms that once traded for less than 1 pound a share. Those who bought these businesses...

IronFX information and reviews
IronFX
77%
AMarkets information and reviews
AMarkets
76%
Just2Trade information and reviews
Just2Trade
76%
T4Trade information and reviews
T4Trade
75%
Riverquode information and reviews
Riverquode
75%
FXCess information and reviews
FXCess
75%

© 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.