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Expert Advisors

MT4 allows you to use automated trading strategies, known as expert advisors (EAs). You can select expert advisors to apply to your charts in the Navigator window.

To create your own expert advisors you use the MQL4 programming language. To get started, right-click Expert Advisor in the Navigator window, then select Create.

expert-advisor-menu

This opens MT4’s built-in MetaEditor, which displays the Expert Advisor Wizard.

expert-advisor-wizard

Use the wizard to specify the type of the expert advisor you wish to create. Enter a name for your expert advisor, the developer’s name and the developer’s website in the General Properties window. Click Add to add a parameter to the expert advisor.

expert-advisor-wizard-properties

Testing expert advisors

MT4 allows you to test an expert advisor before attaching it to your chart. The Strategy Tester shows you how an expert advisor would work on a selected instrument under certain market conditions. To access the Strategy Tester, click View and select Strategy Tester.

expert-advisor-testing

Select the EA you wish to test from the Expert Advisor drop-down menu, and the instrument you wish to run the test against from the Symbol menu.

Click Expert Properties to modify the settings before you run the test. Via the Optimization settings you can run multiple tests that mimic different market conditions.

moving-average

You can choose one of five models for optimization by using the Optimized Parameter drop-down menu on the Testing tab.




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Spread betting and CFD trading are leveraged products and as such carry a high level of risk to your capital which can result in losses greater than your initial deposit. These products may not be suitable for all investors. CFDs are not suitable for pension building and income. Ensure you fully understand all risks involved and seek independent advice if necessary.

InterTrader is a trading name of InterTrader Limited which is owned and controlled by GVC Holdings PLC. InterTrader Limited is authorised and regulated by the Gibraltar Financial Services Commission and registered with the Financial Conduct Authority in the UK, ref 597312. Registered address: Suite 6, Atlantic Suites, Europort Avenue, Gibraltar.