Description: MQL4, or MetaQuotes Language 4, is a programming language specifically designed for creating trading robots, technical indicators, and scripts for the MetaTrader trading platforms. This language allows traders to automate their investment strategies, facilitating the execution of trades without manual intervention. MQL4 is based on the syntax of the C language, making it accessible to those who already have programming experience. Among its most notable features are the ability to access real-time market data, manage orders, and implement complex algorithms. Additionally, MQL4 includes a wide library of predefined functions that simplify the development of trading applications. Its relevance in the world of algorithmic trading has grown significantly, becoming an essential tool for traders looking to optimize their operations and improve their performance in financial markets.
History: MQL4 was introduced in 2005 by MetaQuotes Software Corp. as part of the MetaTrader 4 platform. Since its launch, it has evolved with updates that have improved its functionality and ease of use. In 2010, MQL5 was released, a more advanced version, but MQL4 remains popular due to the widespread adoption of MetaTrader in the trading community.
Uses: MQL4 is primarily used to develop automated trading robots, known as Expert Advisors (EAs), which can execute trades based on predefined conditions. It is also used to create custom indicators that help traders analyze the market and make informed decisions. Additionally, MQL4 allows for the creation of scripts that can perform specific tasks, such as order management or historical data collection.
Examples: A practical example of MQL4 is an Expert Advisor that uses a moving average crossover strategy to automatically open and close positions. Another example is a custom indicator that displays support and resistance levels on a chart, helping traders identify key points in the market.
