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PIP Genie- EA/Algorithm

What is an EA?

Expert Advisors (EAs) are programs that run on the MetaTrader 4 (MT4) platform, used to monitor and trade financial markets using algorithms. They find opportunities according to the parameters you set, then either notify you or open a position automatically. And once your position is open, an EA can add close conditions including stops, trailing stops and limits.


You could, for example, use an EA to monitor a few key markets. It would alert you when it finds a potential opportunity for profit. Equally, you could let it loose on the markets completely, opening multiple positions each day with little human input. For most traders, EAs are primarily used for forex trading. But you can use them to trade any market that’s available on your MT4.


HOW DO EAs WORK?


EAs work by enabling you to set the parameters by which opportunities are found, and positions are opened and closed – essentially using a set of yes/no rules to trigger trading decisions. You can either build an EA for yourself, or import one that someone else has built.


By combining lots of yes/no rules into a complex mathematical model, EAs can execute sophisticated trading strategies, using computational power to make decisions – and act on them – almost instantly.

 


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