Trading robots

Trading Robots

Trading robots are specially written programs that operate according to a given algorithm. They make trading in financial exchanges simple and affordable for everyone. With their help, it is not necessary to have deep knowledge in the field of economic sciences to become a professional trader.

Depending on the functionality, these programs can be used to obtain information about the state of the market, automate the trading processes, or ease the work of a trader. Depending on this, there are following types of robots:

• Indicators;
• Compilers;
• Scripts;
• Advisers (experts).

Let’s consider each of them in detail.

Indicators

This is the most numerous group of robotic systems. These programs are created on the basis of a certain algorithm and reflect the features of the market of a certain period. If the target trade event occurs (for example, a trend reversal), the indicator will provide an appropriate signal. With this signal, a trader decides to purchase or sell the asset.

Compilers

These are special programs that allow to convert high-level codes into the MQL4 or MQL5 programming language used in MetaTrader terminals. Without a compiler, the robotic assistants will not function correctly in the MT4 and MT5 trading platforms. Compilers are widely used by traders to adapt their written bots.

Experts

Adviser is one of the programming miracles that actually makes all the work for a trader. It is an automated system that monitors indicators, identifies trading signals, and makes transactions for purchase or sale. If one properly sets up an advisor, it will bring a very good profit. At the same time, the undeniable advantage of advisers is the lack of emotions. A program will act on a clear algorithm, no matter what, while a person is capable of making annoying mistakes due to fear or mere carelessness.

Scripts

The script is a program code that automates work in the MetaTrader terminal. With the help of scripts, one can delete several orders with one click, set Stop Loss and Take Profit at the same distance from the price, set a fixed lot size for orders, etc. You can download ready scripts for MT4 and MT5 on our website or write your own using MQL4(5) programming language.

As you can see, there is a huge number of various tools that make trading as automated as possible, affordable, and effective. All you need to get started in the financial markets is to familiarize yourself with the basic terms, choose an effective strategy, and download the appropriate robots. All this is available on our website.

MetaTrader Trading Platform

MetaTrader is a free information and trading platform, which is the most popular among traders due to its wide functionality and ease of use. With its emergence, trading became available for everyone, regardless of the level of knowledge in the field of economics, finance, or pricing. The functionality of the terminal allows to monitor the dynamics of prices, analyze the state of the market, minimize risks with the help of a huge list of tools, and even use robot so that it can do all the work for a trader.

MT4 and MT5 — differences

There are two versions of the MetaTrader terminal — MT4 and MT5. Each of them is written in different languages ​​- MQL4 and MQL5, which makes it difficult to use the fifth version of programs developed for MetaTrader 4. Besides, in the fifth version, there is no possibility of locking the positions (opening opposite transactions for the same financial instrument in order to minimize risks.) However, the new version of the terminal still has its advantages:

• more precise gradation of timeframes;
• integrated functions of «one-click trade» and «order glass» (additional applications are required to configure these services in MT4);
• ability to work with five-digit quotes;
• built-in economic calendar.

Nevertheless, Metatrader 5 is still being finalized, so those who are used to using MT4, do not move to a newer platform. For beginners, it is better to master the fifth version of the terminal right away, as its functionality is constantly improving. MT4 is not modernized. However, the fourth version of the program is the most popular platform, because hundreds of robots are developed for MT4 rather than MT5. It is the robots that make a terminal multifunctional analytical tool.