Forex EA (Expert Advisor) specifically refers to automated trading systems that run on MT4/5 terminals. In general, EA is based on proven manual trading methods and experience, built with various technical indicators and coded in MQL language.
EA can automatically monitor the market and execute orders 24 hours a day, effectively avoiding the impact of time, physical strength, emotions and other factors on manual trading. EA is one of the most important trading tools for both professional and retail traders.
In addition, through rigorous and scientific backtesting, we can not only test whether the key logic of the EA is feasible, but also have a reasonable expectation of the risk and reward of trading performance in the future.
However, MT4/5 EA is not omnipotent. the MQL language is similar to the C language, the function is relatively simple. Some complex and/or advanced trading logic can not be expressed well. Then we need to use Java Script and other languages in eSignal, Reuters Eikon, CQG or other professional platforms to build the trading system.
The series of articles “Commercial EA Review by LinoCapital” aims to provide readers with some principled guidance in selecting a commercial EA through our knowledge and experience. Welcome to all kinds of feedback and discussion.
We hope all the traders succeed.