MetaQuotes Language Editor is used to create, edit, and compile program source codes written in MetaQuotes Language 4 (MQL4).
It can be used in developing of experts, custom indicators, scripts and DLL’s.
Expert Advisors Wizard is built in the editor to assist in fast creation of new MQL4 programs.
The new file will be saved in the corresponding folder of the client terminal automatically.
Templates can be used in creation of an MQL4 program, as well. After that, one can start writing of the program text.
The supplemental information can be found in MQL4 Dictionary.
The full description of the language with examples of how to use it is given there.
After the program has been written, one has to compile it in MetaQuotes Language Editor.
As a result of successful compiling, the executable program code will be created that can be launched or tested in the terminal.
What is the MetaQuotes Language 4 (MQL4)? What can I do with that?
MetaQuotes Language 4 (MQL4) is a built-in language for programming trading strategies in MetaTrader 4.
This language allows the creation of your own Expert Advisors that render the trade process management automatic and are perfectly suitable for implementing your own trade strategies.
You can create your own Custom Indicators, Scripts and Libraries of functions with the help of MQL4, as well.
A large number of functions necessary for the analysis of the current and last quotations, the basic arithmetic and logic operations are included in MQL4 structure.
There are also basic indicators built in and commands of order placement and the control over them.
MetaEditor is the editor for MQL4 programming.
Programs written in MQL4 have different features and purposes:
- Expert Advisors is a mechanical trade system linked up to a certain plot. The Advisor can not only inform you about a possibility to strike bargains, but also can make deals on the trade account automatically and direct them right to the trade server. Like most trade systems, the MetaTrader 4 terminal supports testing strategies on historical data with displaying on the chart the spots where trades come in and out.
- Custom Indicators is an analogue of a technical indicator. In other words, Custom Indicators allow creating technical indicators in addition to those already integrated into MetaTrader 4 terminal. Like built-in indicators, they cannot make deals automatically and are aimed only for implementing analytical functions.
- Scripts are programs destined for single execution of some actions. Unlike Expert Advisors, Scripts aren’t run tick wise and have no access to indicator functions.
- Libraries are user functions libraries where frequently used blocks of user programs are stored.