Metatrader 4: The Forex Platform for EAs
Metatrader 4
Metatrader 4 is an online software program, that allows a user to place trades primarily through the forex market. Many large broker companies like IBFX, ODL, FXCM utilize the software made by a company called Metaquotes. The rebadged it with their own logos and provide a data feed for the software to display charts.
Features
Indicators
There are many features within the meta-quotes software. It comes with many of the most common indicators in trading as well as some custom indicators. There are many resources on the internet that can supply custom indicators and it is as simple as placing these indicators inside the installation root folder for them to operate. You are able to customize the look and feel of each chart with candles, bar and line charts with varying colours schemes or customize your own. You are then able to save those layouts and apply them to any chart you wish.
Instruments
Metatrader 4 was initially designed to trade the forex market. However, many more brokers are enabling instruments like gold, oil as well as stocks and stock options to be traded within the platform.
Time Frames
The platform allows you to instantly change the time frame from 1 minute all the way up to monthly periods in the chart. Alternatively, you can have multiple instances of the chart open with multiple time frames.
Alerts
When there are certain conditions met within a chart, say the eurusd cross pair reaches a certain price, you have the computer give an audible alert or alternatively, send an alert to an email address to alert of the price.
Manual or Autotrader
This is where the software shines. Anyone can place a trade manually via instant execution or pending orders. Or you can attach what is called an expert advisor.
An expert advisor is a program that has certain rules that determine when to enter a trade, how large the position size should be, what the stop losses should be, what times of the day to trade and when to exit a trade. This allows the user to have a set of rules in place and have them executed to the letter by the program.
Also, the trader does not have to be in front of the computer for the program to work. As long as the trader initiates the auto-trader, the computer is turned on and there is a constant live internet feed to the program, the auto trader will run without human intervention.
Strategy Tester
Once you have an auto-trader installed in the metatrader software, you can then run a strategy tester and back test certain periods on certain time frames to determine how it would have gone. This is a great tool to determine if using a certain parameters would have given profits or not.
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My name is Glen Wilson and I own and run Fapturbo.com.au. This website is about all things Fapturbo. The most successful forex robot in history. It will also follow the updated version, Fapturbo Evolution and be a portal for all things fapturbo related. Make sure you stay tuned 
[...] An auto-trader is a piece of written software that generates buy and sell signals and then enters into those positions automatically. This allows a great deal of freedom in that the trader does not have to be tied to his computer for hours upon end waiting for their trade setups to present themselves then manage them. Autotraders in the forex market have exploded recently due to the fact they can be easily coded and integrated with a program called metratrader 4 . [...]