Forex glossary
Expert Advisor (EA)
An Expert Advisor is an MQL4 or MQL5 program running in MetaTrader that can analyze data, submit orders and manage positions. Automatic trading depends on platform permissions and coded rules. An EA may only issue alerts; using one does not establish an autonomous or profitable strategy.
Illustrative example
How does it work in practice?
Assume an EA issues a candle-close alert and opens 0.01 lots only when automated trading is enabled. Disabling that permission blocks the order while the program may continue analyzing the incoming quotes.
A case to work through
An alert without an order
A hypothetical EA generates an alert and attempts an order; automated trading is disabled.
- The alert can still occur because blocking trading does not necessarily stop analysis.
- Check the journal and permissions before treating the signal as faulty.
What follows? Test analysis and order submission as separate functions.
Example boundary: A particular EA's behavior depends on its code and additional conditions.
A useful distinction
Expert Advisor (EA) / Algorithmic trading
An Expert Advisor is a MetaTrader program; algorithmic trading also includes automation outside that platform.
Check your understanding
Distinguish blocked orders from continuing EA analysis.
Show the answer and explanation
Disabled automated-trading permission
Analysis can continue while order submission is blocked.
From a plan to automation tests
Step 3 / 12 · 0 / 12 reviewed
View the full sequence →Progress is saved only in this browser.
Read the fuller explanation
Related terms
Sources and documentation
- MetaTrader 5 – algorithmic trading
Expert Advisor operation and trading permissions in the terminal.
Document read:
The example illustrates the mechanism. Check current account conditions and instrument specifications with the provider.