Expert Advisor: Order Placement

Bid, Ask & Spread As a Forex trader, you’re probably already familiar with the Bid and Ask prices. But you might not be aware of their role in order placement. It is very important to use the correct price when opening or closing orders. The Bid price is what you see on the MetaTrader charts. It is usually what we …

Expert Advisor-Layout of an MQ4 File

Creating a New Expert Advisor The Expert Advisor Wizard in MetaEditor is the quickest way to get started in creating an expert advisor. You can start the wizard by selecting New from the File menu, by pressing the New button on the toolbar, or by pressing Ctrl+N on your keyboard. The dialog presents you with several options. You can create …

An Introduction to MQL

Introduction to MetaEditor What is an Expert Advisor? An expert advisor is an automated trading program written in MQL. Expert advisors (commonly abbreviated as EA) can place, modify and close orders according to a trading system algorithm. EA’s generally use indicators to generate trading signals. These indicators can be the ones that come with MetaTrader, or they can be custom …