FxPro information and reviews
FxPro
89%
FXCC information and reviews
FXCC
86%
XM information and reviews
XM
81%
Octa information and reviews
Octa
79%
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

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...

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...

How to make money trading Bitcoin

The question "how to make money with bitcoin" has awakened an acute interest of forex traders. Usually the answer is associated with the purchase

Best Gaming Crypto Coins to Invest in 2023

You may have many unanswered questions about the best gaming crypto. After all, there are so many new games in the pipeline that you need to be aware of...

Banking Forex: advantages and disadvantages

Without exaggeration, currency pairs can be called the most popular financial instrument. The instability of the exchange rate, combined with the high threshold of credit...

Applying VSA in Forex Trading: Everything You Need to Know

Tick volumes are one of the simplest options for VSA analysis Most forex traders are familiar with technical and fundamental analysis. There are several ways to use these two methods...

Is Ripple a good investment and can you profit on XRP in 2020?

Cryptocurrency trading has become a big business and is extremely popular for people just entering into the trading space, as well as for major institutional traders...

Mastering Bond Trading in 2024: A Comprehensive Guide

Bonds, often referred to as fixed income securities, continue to play a pivotal role in the financial landscape, serving as a fundamental instrument for governments and corporations to raise capital for various ventures...

How to Trade Indices? A Useful Guide

To begin with, indices are a way to measure the performance of a specific group of assets, like stocks, including their prices. Famous indices are basically...

Top NFT Coins

It cannot be that you have never heard of NFTs. Artists sell their paintings in NFT format, musicians release NFT albums, and even Banksy's work "Morons (White)"...

How to Construct a Mechanical Forex Trading System

As forex software becomes more complex and automation becomes more common, many traders now rely on mechanical forex trading systems...

USDT vs USDC: Which one is the Better Investment?

When you start trading crypto, you often hear the term “stablecoin.” Furthermore, you will learn that there is more than one out there, but the two biggest ones to consider will be USDT vs USDC...

Choosing a trading instrument: how to trade cryptocurrency

The capitalization of the cryptocurrency market is estimated at trillions of dollars and is only increasing every year. Cryptocurrency has come a long way from...

Cardano vs. Solana: Which one is the Better Investment?

Cardano and Solana have captured the imagination of crypto enthusiasts in the last few years, rising with the previous bullish run of crypto. The two cryptocurrencies...

Taking Advantage on A Bearish Market

Shorting a stock has been popular and widely accepted investment strategy in past years. It had become increasingly globally known when...

Top Trading Tools to Help You Make Profits in Forex

The forex business is a lucrative one, with several traders making the kill daily. However, while a lot of successful traders make do with some professional...

Which Citizenship by Investment Programs are Crypto-Friendly?

With the evolution of the digital era, the crypto industry has taken the world by storm. In most countries, digital assets are considered a commodity rather than currency...

How to Identify a Suitable Broker for Trading Crypto

Cryptocurrencies have become attractive both as trading and investment instruments. The uniqueness of this market sector puts additional requirements on a broker that...

5 ways to get your strategy copied

Copy trading is one of the popular ways that allow professional traders to earn additional income on their trading by offering investors to...

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...

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
0%

© 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.