Tools for Better Trading
Automated trading involves the buy, sell, stop-loss and profit-target rules for trade entries and exits. The various benefits of automated trading make it a helpful tool for traders, but it is important to remember that automation can also fail.
Perhaps the biggest advantage of automated trading is the ability to remove some of the emotion from trading. Another significant advantage to trade automation is that the trades are automatically executed with extremely fast reaction times.
The traders can create their own custom experts, indicators and scripts based on specified factors.
The expert advisors are used for the automation of analytical and trading processes. EA trade for you automatically, run inside your terminal and can be attached to any currency you choose. It never sleep and can look for trades 24 hours a day, 5 days a week.
The indicators are intended for analyzing price activity, but not for trading itself. Indicators are used to analyze past and current price information to help traders predict future price movement.
The scripts are programs that are intended to perform a single action. Unlike an indicator or expert that works continually, a script stops functioning once it has completed its function one time. A script can fulfill both analytical and trading functions.