A program written in MQL4 or MQL5 that automates trading on MetaTrader. EAs continuously monitor market conditions and execute trades based on pre-set rules. For example, an EA might use OrderSend() to open a position when a moving average crossover occurs. The IG glossary defines EAs as “programs that run on the MetaTrader 4 (MT4) platform, used to monitor and trade financial markets using algorithms”. EAs encapsulate the strategy logic; traders run them on charts to automate trading, and developers write or customize them for specific strategies.

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