For those who have never heard of mt4 expert advisor, it is a automated trading robot for a charting and trading program called Metatrader. Metatrader is a charting and trading program that you can analysis and trade with it. MT4 expert advisor means Metatrader 4 expert advisor. This type of auto trading script or robot supports the latest version of Metatrader.
Using MT4 expert advisor is a great way of trading forex market. Depends on your MT4 expert advisor functions, it can be working from semi automated to fully automated. A semi automated script will inform a trader to make the trade once it detects an opportunity for a profit. It can be sending emails, making some alerting sounds on your computer or even send sms notifications to your mobile if you subscribe for it. A fully automated MT4 expert advisor will process your trades on a fully automated process. All your trades will be made automatically by the robot.
MT4 expert advisor is an automated trading system written using MetaQuotes Language or call MQL. They are run on your metatrader charting software and can be watching out for the market automatically for 24 hours. Doing this manually by yourself can be mentally stressing. Another good point for MT4 expert advisor is that it and make clear and decisive trades without involving emotions. There are bound to have some emotions involve while trading the forex market. MT4 expert advisor can help alot in this.
Metatrader 4 expert advisor supports back testing. In another words, you can test the systems with use a historical data. With the options to let you tweaking the setting of the advisor, you can keep doing back testing and keep tweaking the settings of the advisor until you get the perfect results.
With metatrader 4 expert advisor, you have unlimited possibilities to trading forex. From applying a trading system to creating your own trading, there are no limits.