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Metatrader Programming Overview
MetaTrader is one of the most popular trading platforms in existence today. Wide configuration and control possibilities for brokers and robust programming tool – integrated MQL language – for traders make the system handy and versatile in use at its maximum.
MQL integrated programming language is a C++-like language. Its concepts and syntax are familiar to a majority of programmers and this makes it possible to save time resources during the learning phase. It is enough to understand syntax and basic idea of Metatrader trading platform to start programming in MQL language.
By means of MQL language it is possible to create several program types:
Expert advisor. The main objective for expert advisors is to execute trading operations in automatic mode according to prescribed rules thereby freeing trader from the routine work. Expert advisors can use personal indicators and libraries in their work. Backtest Strategy Tester allows to perform strategy profitability testing on historical data which dramatically shortens development terms.
Custom indicator. Classic indicators have visual components as well as internal buffers to be used in expert advisors. However, non-standard approaches are also possible such as object usage, audio announcement systems and others.
Script. In contrast to Custom Indicators and Expert Advisors scripts allow to execute some code once. It is useful for semi-automatic operation execution by trader. For example, open order with definite parameters or set Stop Loss Level to a new value. For each of the new scripts it is possible to assign hotkeys, making the script usage process quick and practical. Also worth noting is one of the advantages of scripts – immediate execution. Custom indicators and expert advisors execute code only on price change on current currency pair.
Library. Repeatedly used functions and pieces of code can be grouped into libraries. It is possible to use libraries written in MQL or in any other language. The use of interface for connecting external libraries provides merchants with unlimited possibilities in their ideas implementation.
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