What are EA?(Expert Advisors)
Expert Advisors (Trading Robots) are programs that run on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They monitor the Financial Market and, by the parameters that had been set within them, find opportunities and execute automatically trades. Once the position is open, the EA can “add” closing conditions including stops, trailing stops and limits.
When the EA is running only on the computer of the trader, it could be used to monitor particular markets and be notified if there a good opportunity to open a position.
How to get started with Expert Advisors
You could either build it on your own or download an excisting one.The EA can be set-up only from the Desktop and the only operation that can be executed from a mobile device is to close a position.
The EA be operated by the trader and be turned on/off or can be hosted by a third party who will ensure that EA is working 24/7.Some EA are free and some are subjected to charges.