What’s MT4 and how do you work with it with your forex robot?
Category : Robots
Today’s FIXAPItrading requires modern technical solutions that allow to trade more comfortably and to improve financial results. Meta Quotes company provides a solution for these problems thanks to its Meta Trader 4 trading platform.
MetaTrader 4 (MT4) is a trading terminal that can be used to perform operations both on the FIXAPIForex market, as well as other other stock exchange sites via brokerage companies. Today a bigger part of brokerage companies offers their clients this platform for one simple reason – it is free. It is rare to find a product that fully interacts with the market and is still free.
Using this terminal, one can configure all the required settings in accordance with the trader’s system specifications. MT4 has a friendly interface and easy functionality. Integrated auxiliary elements allow to make custom chart layouts and adapt each chart under the trader’s preferences: to set indicators, trading alerts and notifications, informative indicators and other tools. As MT4 is completely synchronized with MQL4, any file of this type will be recognized and accepted by the Terminal.
MT4 trading terminal is the ideal solution for traders, because it includes:
- A list of built-in indicators, divided into groups (trend-based indicators, oscillators, volume-based indicators);
- A possibility to add your own indicators;
- An ability to connect to trading experts and trade panels;
- Downloading quotes as an excel file;
- Monitoring of the trading account condition via MQL resource and MyFxbook;
- Built-in Strategy Tester;
- Built-in Meta editor for creating trading indicators and robots based on the MQL4 programming language (you can still use any robot written in other languages, that is, FIXAPIJava,FIX API python,FIX API C#, and adapt them to the Meta editor);
- An ability to plug in trading robots for automated trading.
The main advantage of this platform is in the last point. Most terminals are simply limited to this function. Traders have to conduct analysis in one window, and carry out trading in a second one. And that’s with “manual” trading.
In order to connect the robot to the trading terminal, it is necessary to make just 5 easy steps.
The downloaded file (which is a robot) has to be copied to the root folder of MT4 (in the Terminal window: file – data directory – MQL4 – experts). And then you have to refresh the Terminal. That’s it! Trading robot is ready to work.
* Note that you have to switch the robot to the auto trading mode. This is done in just one click.
Trading robot, after these easy manipulations, starts trading in automatic mode. A robot is a program that, based on the obtained data, performs an analysis and makes decisions to buy or sell the asset. Thus, the trading terminal displays quotes coming from the FIX API broker and trades in auto mode.
Another advantage for using the MT4 platform is the fact that a robot can be tested on historical data with the help of the Strategy Tester. That is, to analyze how the trading robot performs on some virtual data, after which only it can be entrusted with the real assets.
The trading robots that have been written for this terminal, can also be used with FIXAPI protocol. Is one of the main advantages of the trading terminal, because almost 90% of trading robots work through this protocol. That is, the algorithm can also be adapted to work without the Terminal itself.
Meta Trader 4 platform is an ideal solution for both manual and algorithmic trading. An extensive list of features makes this platform one of the best trading terminals at the moment.