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Global Variables Expert Advisors and Custom Indicators Two broad categories can be singled out among automated trading applications: trading robots and indicators. Applications of the first type are designed for performing trading operations, and the second type programs are used for analyzing prices and identifying patterns in price changes. Indicators can be used directly in trading robots forming a complete automated trading system.

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These are special applications for trading platforms, and their use does not require any specific knowledge or programming skills. Finally, if you are not always looking for a simple solutions, you can develop a custom robot or indicator on MQL4 language by yourself.

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We do not have time to learn something new, and this is a normal attitude of a normal human being. Traders are people just like everyone else, they want to get maximum results for the minimum of effort.

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Algorithmic trading Development of trading robots and technical indicators Algorithmic trading automated trading is one of the strongest features of MetaTrader 4 allowing you to develop, test and apply Expert Advisors and technical indicators. It eliminates any obstacles in analytical and trading activity. Its core is MQL4 object-oriented programming language for trading strategy development. It offers high efficiency, flexibility and functionality.

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The Bottom Line Many traders aspire to become algorithmic tradersbut struggle to code their trading robots properly. These traders will often find disorganized and misleading algorithmic coding information online, as well as false promises of overnight prosperity. However, one potential source of reliable information is from Lucas Liew, creator of the online algorithmic trading course AlgoTrading