Expert Advisors and Metatrader4

Posted by vanio2288 on January 13th, 2020

When we are talking about forex expert advisors there are several platforms to create and use them, but Metatrader4 is the best of them. There are several reasons for that, but the main advantage is the power of the mql language. We don't know for sure if this is a real compiler or interpreter, but it is very easy to create very complex forex trading robots. The more advanced version of Metatrader5 also offers them a way to backtest by combining the power of several computers in the office or hiring servers in the cloud. In this way, the power is increased significantly and you can backtest and optimize much complex expert advisors.

There are several reasons for that. First of all the robot never sleeps. It can be online 24/7 and wait to open a trade or manage already opened trades. It can execute many trading actions in miliseconds if needed. The expert advisor has no emotions and doesnt panic. No matter what happens on the market it will stick strictly on its trading logic. And may be the most important of all - you can backtest it. You will know exactly how this automated forex strategy was doing in the past. What was the maximum drawdown, what was the maximum consecutive wins or losess and so on. By this you know what to expect and you will notice if there is a difference between the current trading results and those in the past. You can have unlimited amount of expert advisors.