By far experts recommend using MetaTrader 4/5 as an ideal Forex trading platform to trade currencies with. Traders are of the opinion that it’s easier to handle and it’s very stable. Additionally, it also comes loaded with features like EA and custom indicators. There are also different types of programs that work for a limited time validity which expires once it performs its functions. Script Forex works just like an indicator or EA but vanishes once its work is done.
If you are using MetaTrader for trading currencies, you will find the option to call Scripts from Experts wizard. It works quite the same way as indicators, so calling one is also similar. Traders opine that scripts perform some very important functions that require one-time dealing. Often there are times when you need to perform some definite function like live trading and DLL imports.
How to call Scripts from MetaTrader:
Under the main menu, select Tools option and select Scripts. That should open a specific Scripts dialogue box which gives various options. Opting for Script Forex works quite the same way as calling indicators or EA. There are numerous parameters to choose from depending on your choice of operation.
What can Scripts do?
Scripts perform those functions which do not need repeated functioning. It works one time and performs very specific functions. Say that you are willing to add a single stop loss value for all your lots. Instead of doing it one by one, choose scripts to perform this function all at a time.
Consider the scenario of hedging. In case traders want to buy and sell simultaneously, they might face the problem of clicking the wrong inputs thereby exposing them to market manipulations. To make the most out of it, traders can take refuge under scripts. They need to select the parameters and scripts automatically do it for them.
Remember that scripts themselves do not perform any operation unless otherwise specified. It needs execution through the navigator-scripts window. Set your MQL4 programs automatically and select scripts under a host of options.
Editing scripts are vital and the new script window opens in new editor window. This requires prior knowledge of writing codes after which it needs to be compiled and interpreted. MetaTrader 4 automatically allows execution once scripts are compiled. If you are unsure of the code, you may change it multiple times according to your purpose.
Shutting down script Forex:
Going by its definition, scripts shut down automatically after it's working. But if you still want to ensure complete deletion and removal, you will need to reinitialize its operation first. This requires practice since you need to understand how to roll it away from memory. After selecting the script of your choice, you may remove script and change its overall time frame.
To conclude, scripts perform very technical and specific functions. But in order to make full use of it, you need to be an able coder. It requires very little space and does not impose pressure on your computer systems. Make the best use of script Forex and trade like a pro.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.