MetaQuotes Language 4 (MQL4) / Expert Advisers

Well guys, as a newbie it seems there is one thing after another when it comes to learning Forex.


Stumbled across this page http://docs.mql4.com/basis at the MetaTrader4 website.


Now, at the moment Im not even sure if I should be worrying too much about it, but I am curious anyway.

From what I can gather this 'MQL4' is a program that helps you identify possible deals, and is a seperate program run in unison with your trading platform? Is that correct?

Also is MQL4 a complicated computer programming code that a trader should learn? Or is it just a program that runs in the background and no coding is required by the trader?

MetaQuotesLanguage is programming language similar to C++

You don't need to know anything about the code unless you want to.
Maybe you'll like some script, but want to alter it a little...

Allaround the internet you can find 2 types of files, with extensions .mq4 and .ex4 (just type that in search engine on this or any other forum or google)

.mq4 is the code
It is compiled to .ex4, executable file which you just copy at the right place (c:\programfiles\mt4\experts if its EA, + indicator\ or + script\ if it is a indicator or a script )

You don't need to have .mq4 file if you only want to use it. If you want to change the code, you'll have to have the code.

There are several types of .ex4 files:

- EA - Expert Advisor
- Script
- Indicator

Each goes in its own folder.

EA - possibilities - up a fully automated script that opens, executes, modify or delete orders, can have more than one

Script - can have only one at a time until finished or deleted from graph, for example i have a script called CloseAllOrders which closes all orders and then is finished

Indicator - i would describe only as "a new graph" for now

Each of these types you use as follow (for MetaTrader4, as i understand other programs also use MQL4)

In navigator window, you should find EA, script or indicator. If it's not there and you did put it in right folder try restarting MT4

When found, click on it and drag it to a chart (graph). And release button of your mouse. That's it!

If you can program your rules into an EA, you don't have to sit and watch the screen.

Yep.

If you can't program it, you should get no problems finding someone who can, and will. Even out of curiosity, for free.

But before, one should search few forums, as I did and have found the EA that I wanted to program that is superb. It is well written, works exactly how i wanted plus a thing or two I didn't even think about, has all variables one need to alter it from the outside...

Thanks for the replies guys.

I will continue to learn about EA's, its all very comlicated at the moment for a beginner.


If I wanted someone to program an EA for me based on how I want to trade, is this something that one of the lovely people on ForexFactory would help with or are you talking about going to see a broker?

I would go here.

there are quite a few well seasoned programers here. I have been doing it for a little bit, but in no way am I quilified to do it for others.

Rusty

You should first try to find out if there is something already written and save the trouble as there are millions of programs online...

Most of them have extern variables so you can alter your setup however you want...

great, wud u care to share with us the EA? wud greatly appreciate it