Any trading strategy of any complexity can be coded into MT4. This product has a high degree of great work behind it.

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For example, some fundamental strategies might be more advanced than just reading a news result from a news web site and acting on it, hence it would require some manual input.

And in those cases when a strategy cannot be fully automated it is often possible to create semi-automated tools that are extremely helpful for the trader. For example, for many years no programmer were able to develop a chess computer that won over the chess world championship.

The reason was that while a computer is able to compute and compare millions of step variations and chess positions, a human thinks in strategy, and is able to change the strategy according to experiences. A trader can use an EA effectively by knowing this limitation and by using it to execute everything that can be fully automatized saving precious time for the trader , while taking control, and change the strategy ask the developer to alter the software when needed.

MQL is a complete programming language Turing complete, as the academics say , so any strategy that is computable can be coded as an MT4 Expert Advisor. To be computable, a strategy must be expressible as well-defined rules consisting of stored values, math operations, if-then conditionals, and looping. Subjective strategies are not computable. For example, a method that trades based on subjective interpretations of central banker arcana is not computable by machines.

Subjectivity aside, MT4 Expert Advisors are, in theory, as capable as any machine. But trading is real world, not theory. In practice, data availability and performance can make MT4 unsuitable for particular assets and strategies. For example, MT4 is not a suitable platform for a high frequency trading strategy capable of tens of thousands of trades per second. Although the logic of such a strategy could be coded as an MT4 Expert Advisor, slow performance would defeat the purpose.

There are very few technical hurdles to overcome when programing trading strategies. These are very complex tasks that take a great deal of specialist programming and are beyond the budget of most MT4 traders. But in general, nearly everything that people think of can be coded. The one grey-area that catches people out is the discretionary portion of their idea. You actually need a set of rules first to say what a trend is, how to measure if it is there, and then to decide how to measure if it is ending.

Our team at EA-builder. We can also help with suggestions for improving your system or diversifying your ideas. So far we have built hundreds of EAs, from very simple ones that use 1 or 2 indicators as signal triggers to more complex strategies that do multi-instrument correlations or use artificial intelligence.

Most traders have not boiled down their strategies to a series of if-then statements. They know what they do as a rule, but have a very difficult time expressing it. There is no limit to programming strategies if the trader overcomes the hurdle of communicating his idea. We can code anything that can be quantified with numbers.

MT4 Expert Advisors have a lot of possibilities to code almost any strategy idea of the trader, which base on information feed data coming from MT4 platform. Of course, we can use all indicators which are based on historical and current feed data. There can be one problem with using historical tick data because this information is not available in MT4 platform. This problem can be resolved by collecting thick data which are coming in real time. Second thing is that we have also no access to depth of market what can be also useful in some situations.

Next thing is if the trading strategy is based on any data from other application or from other internet service, then in pure MQL language to code MT4 Expert Advisors it can be a problem to code such idea. In fact, with this possibility we are able to code any trading strategy, which will be used on MT4 platform. The only one limitation may be access to data which we would like to use. I believe that nearly any trading strategy can be coded into a MetaTrader4 Expert Advisor.

However, strategies based sophisticated analytical methods are definitely code-able. In my own experience the more sophisticated the strategy, the more likely that it can benefit from moving complex functions into a DLL accessed from the EA. MT4 DLL access is based on unmanaged code. NET, it is necessary to coordinate functions using a bridge. Whether coding exclusively in an EA or in conjunction with DLLs, it is helpful for clients to understand that sophisticated strategies are complex and time-consuming even for those who know what they are doing.

Clear instructions, timely response, multiple revisions are essential to the success of any project. Any trading strategy of any complexity can be coded into MT4. This may include setups based on indicators, price actions, candlestick patterns, visual manipulation of MT4 objects like trading based on trendlines, arrows, fibos, etc.

In order to create an automated trading system, one has to have a clear set of guidelines for opening, closing and handling orders. I would like to add my answer to the same question as well. For me, things like drawing of the trend lines and divergences, is something I never dare to program. This is simply because every human being will see this differently and we all know, that computers cannot see things the same way our eyes see.

Robots cannot have the same imagination. So for someone, a trendline drawn from A to B, might look inappropriate, while others would simply draw it from C to D. Then there will be people who will never draw trend lines in those places and rather choose to draw it from E to F, etc.

The same with divergence lines. I know there are indicators for that, but if you try them, you will find that they will not draw the same divergences you want to see. There will be less or more divergences.

Now tell us, what do you think. Can any trading strategy be coded into MT4 robot? I am also a Forex trader, a programmer, an entrepreneur, and the founder of ea-coder. I have created two of the most popular trade copiers and other trading tools for MT4 that are already used world wide by hundreds of currency traders.

Very interesting question also. As fas as I can see MT4 has so many limitations compared to the human mind. Then you have bridging, server side handling etc. My only solution to deal with this, is draw down which no retail trader can avoid from the second a position is opened. Thanks for your feedback, Conway. But today it does not show on my screen. The smiley face is there but the actual ea is not showing. I installed multi-meter II and it worked wonders for me doubling an account within two days.

Av install multi-meter III plus the fonts but it is ovarlapping the charts with very big fonts. Am using windows 7. Help please but you are doing a great job for what i have experience with the lower version. I noticed there is a website on the face of the meter www. Is it the same meter? I'm not complaining just curious,. People hope to make money that way. The back ground fonts is programmed to large or needs to be deleted in the program. You can delete it manually but it takes a while to find the object name and then start deleting.

Is there anyway to have them be on the left side instead of the right side? Blocks other background indicators around price action. Any help much appreciated! Why download fonts, and no expert, opens the text. This should solve the problem: Download and Installation note ws perfect.

What about Trading note? I mean, I installed it and it set itself beautifully on the right side of the chart.