MQL4 is the programming language for writing programs for the MetaTrader 4 trading platform.
IQT Advantage is The IQT’s library of MQL4 programs designed to help traders to automate and deploy their trading strategies as quickly as possible. We will simply refer to this as Advantage from now on. Advantage is designed with both experienced and new programmers in mind.
In summary Advantage helps in two main ways:
Standard MQL4 programs do not clearly delineate business logic (the code relevant to the trading strategy e.g. buy at an upward MA crossover) and execution logic (the code needed for executing the strategy e.g. place a naked buy order, then add a stoploss to the order, and save errors to a file if either step encounters problems).
Advantage aims to handle as much of the execution logic as possible for traders, and keep the business logic in as short and as contiguous a section as possible, so that traders can concentrate on fast deployment and idea generation.
Advantage extends MQL4’s functionality to enable more sophisticated strategies and backtesting:
Partial Closes can be handled more easily
Near Stoplosses are possible, also preventing stop-hunting
(near stoplosses are where the broker would not allow a stoploss due to it being too near the market price.
Since near stoplosses are not seen by MT4 or in the market, they cannot be used by institutions to deliberately
trigger a stoploss)
Chart Annotation is clearer - this is especially useful in backtests
Over time, The IQT will add further functionality to increase this section, e.g.
Addition of news indicators for major market events
Addition of market sentiment indicators
Addition of statistical and candle pattern indicators
Click on either link to see more detail.
The next page, on Trading Roles, explains how Advantage can help in more detail. Please note the disclaimer below.
Trading is risky. It is possible to lose all your funds, and in some cases, be liable for even larger losses.
IQT Advantage is designed to help you with your trading. We have done our best to test it, however, no guarantee of fitness for purpose is provided. The IQT, E. K. Technologies and Dr Nikhil Shenai bear no responsibility for your trading and usage of the IQT’s products therein. By using The IQT’s products, you acknowledge this and that you will take full responsibility for your own trading.