Forex scripts are small support programs that, like advisors, are embedded in the trading platform. If trading advisors are independent programs leading automated trading, then scripts are ancillary programs that perform a specific action, after which they can be deleted so as not to clutter the platform. Target actions can be any, to the extent that Forex scripts can be developed by individual orders on the MQL website (scripts are written for MT4 or MT5).
- Important! Be careful when downloading programs from unfamiliar sites. They may contain a virus that counts personal data or makes changes to a trade. Scripts come in different versions. In order not to harm the platform settings, it is advisable to either understand the code or ask questions about the compatibility of the developer.
Forex scripts – professional helpers
The task of scripts for Forex is to save time for a trader, to automate a specific procedure, to insure a trader at the time of volatile markets. Sample scripts:
- CLEAR. A script that deletes temporary files, compresses unused quotes, etc. Working with indicators and advisors “clogs” the platform, because of what it starts to slow down. This script removes all unnecessary;
- script for breakeven. In a volatile market, a trader physically does not have time to rearrange the stop-loss, which is below the opening level of the position. At the time of volatility, the price may not reach the take profit and instantly fall. The script automatically tightens the stop loss to the breakeven level. Replaces the trailing stop, which is not convenient because it is disconnected when the connection is broken;
- script to automatically close all orders. Closes market and pending orders in a few seconds. Convenient for short-term strategies;
- Delete All Graf. Removes all graphic objects from the graph (lines, shapes, drawn levels, elevations, points, etc.);
- Reverse Orders. The script for Forex, which closes the current orders for one asset and opens the same in the opposite direction;
- A script that draws all meaningful Fibonacci levels with a single click. Even professional traders do not always quickly draw levels based on chart analysis. Now the problem is solved by running the script;
- script for measuring spread in real time. Saves the trader time and eliminates the human error factor;
- “transaction copier”. Copies transactions from one trading platform to another.
These are just some of the dozens of existing scripts. You can learn more about them on the forums, on the Internet. Remember that scripts can overload the platform, because delete them after completing the task. Share what scripts you prefer with FxCash blog readers.