Expert Advisor
An Expert Advisor is a program, written in MQL4 or MQL5, that can send orders when prices change.
Explanation
The MQL4 reference says an Expert Advisor is a mechanical trading system attached to a chart. It runs on events such as a new tick, a timer, or the start and end of the program, and it can inform the user or send orders to the trade server. MetaQuotes uses the same name for MQL5 trading robots. Indicators written in the same languages are not Expert Advisors: the MQL4 reference says custom indicators cannot trade by themselves. An Expert Advisor does what its code says. Backtest results on historical prices are not a prediction of future results, and this page does not recommend any robot.
This page explains published terms for education and reference. It is not financial, investment, tax, or trading advice, and it does not recommend a firm, product, or strategy.
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Sources and last check
Last checked . Rules, prices, and product names change. Read the source.