Standard advisors in the metatrader trading platform
The metatrader trading platform is a multifunctional tool and one of its functions is automatic trading.
For this purpose, special scripts called advisors or experts are used; they independently analyze the market and open positions.
By default, the metatrader 4 trading platform contains several installed advisors that can be used in your trading completely free of charge.
Unfortunately, the number of these scripts is only decreasing every year, and now you will rarely find a broker whose trading platform has more than 2 advisors.
Moreover, it should be noted that depending on the broker, both the number of robots presented and their type may change, but most often you will find:
MACD Sample is an advisor created based on the classic Moving Average Convergence Divergence (MACD) indicator.
That is, signals to open trades are given based on an analysis of the difference between two moving averages. Suitable for almost any asset and time period.
If we talk about work efficiency, then when testing on historical data, the adviser showed a positive result:
Moreover, standard settings set by default were used; for a year of operation, the net profit was $141 or 1.41% of the deposit. You can try to improve the result by experimenting with time periods and assets.
Moving Average - the basic operating principle of the MA advisor is to determine the moment of entry and exit from the market based on price changes and moving averages.
The advisor places orders to buy or sell a currency pair when the price crosses the MA line. Moving Average is a universal robot and can be used on any timeframe or asset.
For testing, we take the same time period as for the MACD Sample test, but we get a completely different result:
For the year, the loss amounted to $1,030 on a deposit of $10,000. Perhaps optimization will help correct the result, but it is still better to use another robot for trading.
To compensate for the small number of scripts available for work, the line “1200 More” was added at the end of the list:
When you click it, you are sent to the library tab, where you can choose from free advisors created by metatrader 4 users themselves.
Despite the huge selection, there are mainly scripts developed by novice authors, and in order to choose an effective option you will have to work hard.
In my opinion, it is better to download a free advisor on our website, and if you want not only a good advisor, but also receive explanations on how to set it up, then you will have to buy a script on the metatrader market from professional developers.