Definition of an expert advisor:
An expert advisor is a software program that is designed to automatically execute trading functions on the Metatrader client platform. The Metatrader client platform is a free personal software program for MetaQuotes that displays charts and real-time quotes for foreign exchange currency traders.
An expert advisor is written in MQL4, a C-like language, and is added to a file within the Metatrader client so that buy and sell orders can be executed automatically based on pre-determined trading rules.
Due to the widespread distribution of Metatrader and its preference among forex traders, Expert Advisors have become increasing popular.
Having a 'system' that will follow trading rules exactly and that can run 24/7 is very advantageous to the serious currency trader. Expert advisors are sometimes called automated trading robots, ea's, experts or expert advisers. Most currency traders are looking for an expert advisor that can consistenly make winning trades in the presence of an inherently random and chaotic market.
Forex traders like to use expert advisors because they can follow their chosen trading rules to the letter without emotion and can execute trades instantly with virtually no delay between finding the trade opportunity and executing the trade.
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