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

FXOpen Forex Partnership Program

We offer our Forex partnership program to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading...

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...

STP Broker: Definition, Characteristics, and Advantages

A Straight Through Processing (STP) broker is a forex brokerage firm that provides wholesale forex services orders to institutional traders. The STP broker was built from the exchange...

Trading Like A CFO - Organizing

Once you've got your trading plan in place, it's time to put it in practice. This is the fun part that got you interested in trading in the first place, so you've...

Decreasing the Exchange Spread: What Does it Mean for Traders?

When you first start looking for potential Forex brokers, you might notice that some of them take commissions for executing every trade while others claim to offer zero-commission services...

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...

Bitcoin Cash: Will It Reach Great Heights Again?

All financial markets have ups and downs, and Bitcoin Cash fits this rule just like any other cryptocurrency. But due to the novelty, these cycles of increase or decrease...

What should you do during a crash?

The world of markets can, in some cases, become very difficult, while uncertainty and often a lack of essential knowledge can lead to confusion amongst traders. And a market crash could be one of those situations...

Top 7 forex trading strategies in 2020

The foreign exchange (forex) market is a global marketplace where the participants exchange one national currency for another. According to Wikipedia...

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 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...

Unlocking the Golden World of Trading: A Comprehensive Guide to Gold (XAU)

Gold (XAU), a timeless symbol of wealth and stability, has held its allure for centuries. Its shimmering presence spans from the grandeur of ancient civilizations to the sleek gadgets...

How to Amplify Earning With Margin Trading?

Leverage is the practice of using an amount of debt or borrowed capital to take a position in an investment, finance a project, or fund a business and...

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

Understanding the difference between Solana and Ethereum can give you an insight into how to invest in both. When debating Solana vs. Ethereum, you should understand...

When a fracture in the spread of COVID-19 pandemic can be expected?

The fall in global financial markets, which began in February 2020, is associated with the COVID-19 pandemic...

Basics Of Bitcoin Market Analysis

Many investors who are new to bitcoin don't know much about analysing individual digital currencies, so they can benefit significantly from learning some quick tips...

Relative Strength Index

The Relative Strength Index (RSI) is an oscillator that measures a particular financial instrument's current relative strength compared to its own price history...

What New Crypto Coins Are Coming in 2022

The crypto industry has experienced an eventful 2021. The world's largest investment funds are actively investing in various crypto assets...

Small-caps and large-caps. What’s the difference for those who buy them?

Shorthand for "market capitalization", the term market cap refers to the total value of all a company’s shares of stock. One can calculate it by multiplying...

How to Trade CFD effectively like the Pro

Hardly can anyone talk about investment without mentioning contract for Difference (CFD) because of its popularity on most forex trading platforms. CFD is a contract...

Vantage information and reviews
Vantage
85%
FP Markets information and reviews
FP Markets
81%
IronFX information and reviews
IronFX
77%
T4Trade information and reviews
T4Trade
76%
Just2Trade information and reviews
Just2Trade
76%
FXNovus information and reviews
FXNovus
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.