MetaTrader 4 (MT4) remains one of the most popular trading platforms, particularly for forex trading. Its flexibility, user-friendly interface, and comprehensive analysis tools make it a favorite among novice and experienced traders alike. One of the platform’s standout features is its support for Expert Advisors (EAs), which can automate trading strategies and take the emotion out of trading decisions. While the desktop version of MT4 is widely known for its EA capabilities, many traders are now turning to the MT4 Android app to manage their trades on the go. Here’s a concise guide on how to use Expert Advisors in metatrader 4 for android.
Understanding Expert Advisors
Expert Advisors are programs that allow automation of the analytical and trading processes in the MT4 platform. They are written in MetaQuotes Language 4 (MQL4), the platform’s native programming language. EAs can monitor the market for opportunities, execute trades based on predefined criteria, and even manage risk and trade adjustments automatically.
Setting Up Expert Advisors on MT4 Android
While the MT4 Android app offers a wide range of functionalities, it does not directly support the use of EAs as the desktop version does. This limitation is primarily due to the mobile app’s simplified interface and the operational complexities involved in running EAs. However, traders can still manage and monitor EA activities through their Android devices with some workarounds.
Step 1: Install the EA on Your Desktop Platform
The first step is to install and set up your chosen Expert Advisor on the desktop version of MT4. Ensure that the EA is properly configured according to your trading strategy and risk management preferences.
Step 2: Use a Virtual Private Server (VPS)
To keep your EA running 24/7 and to manage it via your Android device, you can use a Virtual Private Server (VPS). A VPS allows your trading platform to run remotely on a server, ensuring that your trading isn’t interrupted, even if your own computer is turned off. After setting up your EA on a VPS, you can access the server through a Remote Desktop app on your Android device.
Step 3: Monitoring and Managing Trades
Once your EA is up and running on a VPS, you can use the MT4 Android app to monitor its performance. You can check open positions, modify existing orders, and even close trades manually if needed. While you won’t be able to adjust the EA’s settings directly from the app, you can still stay on top of your trading strategy and make manual interventions when necessary.
Conclusion
Although the MT4 Android app does not support direct EA usage, traders can still leverage these powerful tools through the use of a VPS. By combining the automation capabilities of EAs with the flexibility of mobile trading, traders can enjoy the best of both worlds, keeping their trading strategies active and under control, no matter where they are.