An Expert Advisor (EA) is automated software written for MetaTrader 4 or MetaTrader 5 that places and manages orders according to coded rules. It acts only inside the symbols, timeframes and risk figures configured in it, and it cannot adapt to a situation outside those settings. An EA does not remove risk from trading; it removes hesitation, and it will keep applying its logic during conditions its author never anticipated.
Forex glossary
Expert Advisor
Related term
Backtest
A backtest runs a set of rules over historical price data to see how that rule set would have performed in the past. It answers a narrow question about history…
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