The MQL4TradingAutomation Review
MQL4TradingAutomation provides programming services for MetaTrader-4 and MetaTrader-5. Their automated-trading software library contains MT4 & MT5 indicators and Experts Advisors (EAs). Anyone can join their website for free and test demo versions of their software. Note that the MQL4TradingAutomation website includes also interesting learning resources and trade strategies.
Their Software Solutions for Forex Traders include:
■ Trading Indicators for MetaTrader-4 and MetaTrader-5
■ Forex Robots for MetaTrader-4 and MetaTrader-5
■ General Utilities for MetaTrader-4 and MetaTrader-5
MQL4TradingAutomation Software Solutions
Their website is free to join and test indicators and EAs, but the fully-featured versions are commercial and must be paid (one-off).
(A) Metatrader-4 & Metatrader-5 Forex Robots
Expert Advisors for MetaTrader-4 and MetaTrader-5:
- ORDER MANAGEMENT EXPERT ADVISOR
- TRAILING STOP EXPERT ADVISOR
- RISK MANAGEMENT EXPERT ADVISOR
Let’s see an example of an Expert Advisor…
(1) MQL4TradingAutomation Auto-Close Expert Advisor
The MQL4TradingAutomation Auto-Close is a Forex Robot that can assist traders with their risk & money management rules. The Forex Robot can monitor Balance, Margin, Profit and Loss and alert traders in case any of these reaches a specified threshold.
(B) Metatrader-4 & Metatrader-5 Indicators
Trading indicators for MetaTrader-4 and MetaTrader-5:
- PRICE ACTION INDICATORS
- ENTRY AND EXIT INDICATORS
- MULTI TIME FRAME INDICATORS
- CHART MANAGEMENT INDICATORS
- ORDER & RISK MANAGEMENT INDICATORS
Let’s see some examples of useful indicators…
(1) MQL4TradingAutomation One-Click Trade Pro
The MQL4TradingAutomation One-Click Trade is a useful tool that allows traders to open & close orders with just one click. The MQL4TradingAutomation PRO version also offers:
- Open opposite pending orders
- Setup and submit orders using lines
(2) MQL4TradingAutomation Candle Timer
The Candle Timer shows details about symbols and creates alerts before the close of a candle.
(3) MQL4TradingAutomation Pattern Detector
The MQL4TradingAutomation Pattern Detector is programmed to recognize common 1, 2 and 3 candlestick patterns. Traders can add the indicator to their chart and receive notifications when a new candlestick pattern is detected.
(4) MQL4TradingAutomation Support Resistance Lines
The MQL4TradingAutomation S&R Lines calculates the historical levels of Support and Resistance and shows them as Colored Lines on the chart. The indicator sends alerts to traders if the price is in a dangerous zone.
(5) MQL4TradingAutomation Bollinger Bands Breakout Alert
The MQL4TradingAutomation Bollinger Bands Breakout Alert can notify traders when the price breaks out of the Bollinger Bands. The only thing required is to set the parameters.
(6) MQL4TradingAutomation Parabolic SAR Trailing Stop
The MQL4TradingAutomation Parabolic SAR Trailing Stop will trail the Stop Loss price of selected orders following the PSAR indicator.
(7) MQL4TradingAutomation Supertrend Line
The Supertrend Line indicator shows traders the trend using a calculation based on the ATR.
(8) MQL4TradingAutomation Currency Strength Matrix
Currency Strength Matrix (CSM) is an indicator that shows traders the current strength of the major Forex currencies in several timeframes. There is also a DEMO version that shows 4 currencies and 4 timeframes.
MQL4TradingAutomation Review -Summary
The MQL4TradingAutomation offers interesting tools for MetaTrader-4 and MetaTrader-5, including trading indicators and Forex Robots. These tools can be used by all trading styles including intraday-trading, swing, and position trading. Traders can join the service for free and download free versions with limited capabilities. The fully-featured versions are commercial and paid individually for a one-time fee.
Overall, the MQL4TradingAutomation aims to improve the trading experience when using the MetaTrader platforms. There are extended educational resources and traders can test everything for free.
■ MQL4TradingAutomation Review