Hello, dear traders! Today, I want to tell you about useful plugins for the MetaTrader trading platform that will improve your everyday work on the market. In this article, we will talk about an automated Forex trading, advisors and scripts, and other trading tools for the MetaTrader 4 application.
Firstly, I want to start with what the popular MetaTrader platform is. It is the software developed and produced by MetaQuotes for Forex, CFD and futures trading. The MetaTrader platform allows to not only placing orders, watching charts and using indicators. This trading platform can be a great helper in analyzing the market, running Expert advisors, and using social trading. Therefore, this process can be automated, and you are able to get twice more profit from both manual and auto trading.
Thanks to a rich functionality, following MetaTrader indicators helps people to define a trend and find the best entry points into the Forex market. 9 timeframes, 30 indicators, 24 objects are available to make your trading results better. But these are not the only advantages of this software.
The best MT4 plugins
As for the best MetaTrader plugins available, these are ones for automation and functionality expansion. Not looking at the fact that there are already many means for trading, you can make it more versatile.
For instance, you may develop a Report API plugin that will generate reports automatically. It is possible to create additional modules for connecting with online payment systems as well, so, you will be always sure that your account is funded.
As for free premium MetaTrader plugins, MetaQuotes have already developed 20 of them for making your trading more efficient and comfortable. They are built into the program. If you need more, you can find them all on the MetaTrader plugins Market.
Except the best MetaTrader plugins, you will find nearly 1700 of expert advisors and 2000 indicators of the technical analysis. Of course, there will be features that one may buy for a fee, but you will also find lots of free MetaTrader features.
If you need to get live quotes and news on Forex and commodities right while trading in MetaTrader, check this out! You can transmit the news or quotes from any provider with MetaTrader. Just launch a feed of your choice, and make some adjustments! After that, the information will appear in the terminal in real time. This plugin works thanks to the 4 API, so you can customize your feed and trade more effectively.
So, we have talked about the MetaTrader indicators and news feed, and what about expert advisors? Sure! As I’ve said before, the automated trading is available here too, and newbies find it the best MetaTrader feature ever.
The MQL programming language allows people to write their own trading robots. Expert advisors can analyze the quotes and execute deals. So, you would be free from performing analysis and sit back watching how the program works for you.
Where to get an EA?
Find it for free in the Code Base, buy it from the MT Market, or order a personal advisor from a professional developer on one of the freelance sites.
One more option is developing a trading robot by yourself. For doing this, you should have a working trading strategy with certain rules that can be automated, and the knowledge of the MQL4 programming language. It is possible to do in the MetaEditor tool for writing and compiling your own robot. For testing, I advise you to use the Strategy Tester.
Also, visit the MQL5 community and ask questions, there are always people who are ready to help.