MetaTrader is one free, powerful, customizable Forex trading platform that supports custom Expert Advisors. MetaTrader 4 replaces MetaTrader 3.8, with more robust features. The MetaQuotes Language 4 (MQL 4), the built in programming language, is a bit more sophisticated than MT 3.8.

MT can trade any pair of currencies. You can also customize the system to trade in more currencies, on your approval. You can also use MetaTrader to analyze any historical data. With Expert Advisors installed, MetaTrader responds to market movements. That is any upward or downward move of prices alerts MetaTrader into action (of selling or buying).

With MQL 4, you can create your own custom indicators or alerts, with your own scripts and libraries. MetaTrader Expert advisor is a MetaTrader 4 add on, which automates the trading process based on your settings. An expert advisor for MetaTrader automates opening and closing of trades. The software has direct connection with your Forex account and uses a set percentage of money for trade and investment.

You can set more than one Expert Advisor for MetaTrader and each EA can be set to book profits at assigned points. If the currency shows negative trend, MT opens another trade to book profits at assigned margins and buffers the loss from the first trade.

MetaTrader expert advisor is only a tool that you can use to automate your Forex trading strategies. In other words, MetaTrader 4 Expert Advisor allows you to script your strategies and attach it to the MetaTrader platform. Thus, the software implements the strategy that you have taught the system, without the need of your interference.

With MetaTrader Expert Advisor, it is just like you doing the real business. Only difference is, your Forex trading strategy is put into an autopilot.