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What is MetaTrader? MetaTrader is a completely free Trading and Charting application designed for online Trading Systems for many Global Markets such as Futures, Stocks, Foreign Exchange (Forex), etc. It has the ability to perform technical analysis, and for the development and operation of fully Automated Trading Systems. Forex Brokers can license the right to the MetaTrader Platform, or MT4, and make it available to their Clients. Over 100 major Forex Brokers using the MetaTrader MT4 Platform such as Alpari US, Oanda, FxPro MT4, Mig Investments, IamFX VPS, FXDD, Alpari UK, IBFX, MB Trading, ATC, and FXCM.

[http://www.mtprogramming.com/misc/ Expert Advisor Programming What is Expert Advisor Programming?]

The MetaQuotes Language (MQL) is a programming language for the development of a trading strategy. Programming in the MQL language allows the programmer to create programs called Expert Advisors, or EA's, for the purpose of automated trading. These Expert Advisors are then loaded into the MetaTrader application.

Hundreds of the functions necessary for the analysis of real time or historical Market quotes, or tick data, as well as basic to complex Arithmetic, and logical operations are included in the MQL4 language. There are also plenty of Free Expert Advisors, Indicators and Oscillators such as the Accelerator, Accumulation, Alligator, ATR, Awesome Indicator, Bollinger Bands, Bears, Bulls, CCI, Heiken Ashi, Ichimoku, iExposure, MACD, Momentum, Moving Averages, OsMA, Parabolic SAR, RSI, Slow Stochastic, and the ZigZag.

[http://www.mtprogramming.com/misc/ MetaTrader Expert Advisor Programmers and Programming MT4 EA]

Programs written in the MetaQuotes Language have several different features and purposes when trading:

The 'Expert Advisor' is an Automated Trading System, which can be attached to run on any chart. An EA is executed with every incoming Market tick for a given symbol. The EA can inform you about a possibility to trade, and trade an account automatically by sending the order directly to your MT4 Broker's Server. Unlike most trading systems, the MT4 Platform supports the back testing of an EA on the historical data by displaying the in and out points of a trade on the chart.

The 'Custom Indicator' is a technical indicator written independently of the EA and can be added to the indicators that are already integrated in the MT4 Platform. Like the built-in indicators, they are not used to trade an account automatically but are intended for analytical purposes to find any possible trading opportunities.

The 'Script' is a program intended for a single execution of some actions. Unlike an Expert Advisor, or EA, Scripts are not run on every tick, but on request from another program.

The 'DLL Library' is a set of custom functions, or tools, containing algorithms that are used on a frequent basis. Libraries are accessed through parts of the main program.