What Is an Expert Advisor?

The first question is – what is an Expert Advisor? As mentioned earlier, an EA is an FX automated trading system. In MetaTrader, they are written in MetaQuotes Language 4, and is developed for use under the MT4 and MT5 trading platforms.

EAs can be programmed to automatically generate trading signals and notify you of trading opportunities. Another type of automated trading system is a Forex robot which, like an EA is a program that can identify market patterns and generate trading signals. However, unlike an EA, a Forex robot can automatically trade on a trader’s behalf. An EA, on the other hand, will always require a trader to manually authorise a trade.