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How to use an expert advisor (robot)?

The vast majority of traders uses a trading robot in their operating activities, because it significantly minimizes trader's actions and allows him to earn effectively. What is a trading robot?

Trading advisor is program created by a trader (also called a trading robot.) A clear sequence of the transaction executions is specified in it, so the trader does not have to wait for a comfortable situation to make money. The program will do the calculations instead of a trader. A significant advantage of this program is lack of human emotions. This is the reason why all tasks are performed in a strict accordance with the programming algorithm.

Configuring and applying

There are already built-in advisors in Мetatrader4 created by ForexGrand. You can see them on the screen on the left, in the Navigator window. If for some reason this window can't be opened on your monitor, you can use the combination of Ctrl+N.

MetaTrader 4

For running a trading advisor, the trader just needs to drag the corresponding item to the chart by holding the right mouse button. After this operation appears a window with the tabs "General" and "Input parameters". In this window, you can change the options of your trading strategy or choose the algorithm of the robot.

MetaTrader 4

To configure the TA correctly, you must first understand how it works and compare several different advisors with your trading goals to select the most optimal one for yourself.

After you specify the options, the TA will track and analyze the established currency pairs and will open or close deals on this basis. It is very important to understand that not all advisors are effective for different monetary instruments.

If you make everything right and ran the Advisor, you will see the name of the trading advisor and a smiley face near it. If you want to disable the robot for some time, follow the path "Tools" - "Settings"- "Expert Advisors" - uncheck the line "Allow automated trading". After that, you will see a cross instead of the smiley.

MetaTrader 4

Only 2 of the TA are available on Мetatrader4 by ForexGrand. For trading with others, you should buy them or write your own program using MQL language.

If you have already created a trading advisor and want to add it to the terminal, you must do the following:

  1. If the files of advisor are zipped – unzip;
  2. Close the terminal for some time;
  3. Copy a file with the extension .ex4 (executable file required for the Advisor) to the "experts" folder directory "MetaTrader 4 ForexGrand".

After that you will see your robot in the list of advisors in the "Navigator" window, and will be able to run it in the usual way.