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Using the programming language by a trader brings him to a completely new trading level – autotrading. Today a trader has an opportunity to realize his ideas by means of application program – write an user-specific indicator, script for implementing one-time operations or create an advisor – automatic trading system. The advisor can work 24 hours without any outside interference – monitor all changes of financial instruments price, send e-mail messages, sms-messages to a mobile phone and make many other useful things.
This Forex instrument certainly attracts experienced traders and stimulates their success on Forex market. For the newcomers MQL programming language is some kind of a guide into Forex market, where certain streams are manageable.
The main advantage of applicable programs is an opportunity to carry out trading operations according to the algorithm set by a trader at his own discretion. Any ideas which can be expressed in the algorithm language can be inserted into the program and used in a practical trading afterwards.
Application programs composition for MetaTrader 4 trading terminal requires knowledge of MQL4 language allowing to create advisors, scripts and indicators by yourself bringing your ideas to life – profitable trading algorithms.
Using MQL programming language you can create:
• Scripts – sequences of commands, programs which are implemented only once on your demand. They can replace actions made by you daily during the trading.
• User indicators – technical indicators written as an addition to the indicators inserted in the terminal. They display graphs or any other visual information. In distinct from scripts they perform at each price changing.
• Advisors – mechanical trading systems attached to any financial instrument. Advisors as well as user indicators perform at each price changing.
• Libraries – set of functions for executing specific tasks.
If you want to become familiar with the programming language you have to spend quite much time for this purpose. The better you get wise to the whole received material the easier it will be for you to start trading with an automatic trading system.
Added by InstaForex Staff