Each Element has 1 or more Link Anchors, a small circle where a link will attach.
The Asking price for a currency, submitted by a seller.
The number of open parenthesis must match the number of close parenthesis in a logical statement. If they do not match, the expression is considered unbalanced and will produce syntax errors when compiled.
The Bid price for a currency, submitted by a buyer.
A pending order that opens a long position
when the price breaks below a level.
A pending order that opens a long position
when the price breaks above a level.
The top part of an Element that shows the name. The caption area is used to select an Element, and used to open a Function Drawing Element by double-clicking.
A system in which the location of a point is given by coordinates that represent its distances from perpendicular lines that intersect at a point called the origin. A Cartesian coordinate system in a plane has two perpendicular lines (the x-axis and y-axis).
A VTS definition used for selecting a value for a symbol or timeframe parameter. When the EA runs, it will use the value of the chart that is running on.
To make an exact duplicate.
1. A text attribute that is stored with an open trade; the comment field can be viewed in the platform trade tab.
2. An MQL function that writes text to the price chart.
Comma Separated File
Technical indicators created using MQL. Stored in the "experts\indicators" folder beneath the Metatrader installation folder.
The scope of a variable element defines where the variable can accessed and used.
MQL, like all programming languages, uses data types to store information. A data type is simply a
section of memory used to store a value.
The MQL data types are:
Integer (int): An integer is a whole number. A whole number means the number does not have a
decimal point. For example, the number of total open trades is an integer: 0, 1, 2 …. There is no concept
of 1.5 open trades. However, the balance of a MetaTrader account is a number with a decimal point -
such as 10,000.99. A number with a decimal point is called a real number in the field of mathematics. A
real number data type is called a double in MQL.
Double (double): A double is a real number. A real number means the number has a decimal point.
The balance of a MetaTrader account is a real number - such as 10,000.99.
Boolean (bool): A boolean is a data type that can one of two values: true or false.
String (string): A string is one or more characters. A string value is set using double quotes. For
example: message=â€Hello Worldâ€.
Void (void): A void type is a “nothing†type. It is used in to indicate that no data type is inferred.
Date and Time (datetime): A datetime data type is used to store calendar dates and times. The data
type itself is actually an integer. The current time is an integer whose value is the number of seconds
elapsed since midnight January 1, 1970. (This is a common approach, used in many computer
languages, to define the current time.)
Color (color): A color data type is actually an integer type. This data type is defined to make color
assignments easy.
Date and Time (datetime): A datetime data type is used to store calendar dates and times. The data
type itself is actually an integer. The current time is an integer whose value is the number of seconds
elapsed since midnight January 1, 1970. (This is a common approach, used in many computer
languages, to define the current time.)
The value a parameter or function will resolve to if no other value is explicitly set.
A special MQL function that is called when an EA is is stopped.
To delete an Element from a drawing, select the Element and press the delete key of your keyboard.
To delete an item from the Toolbox, select the item, right-click and select delete. If the item is not set as read-only, it may be deleted.
To delete a System and all of its Elements, on the Welcome screen, right-click on the system and Select delete.
Clicking the Done button will save all changes and close the window.
In a trading grid, a term used to describe the area of a price chart below the initial starting price position.
For example, if the grid begins at 1.3450:
- The price range from 1.3649 to 1.3620 may be considered level 1. (a 20 point range)
- The price range from 1.3619 to 1.3600 may be considered level 2.
These are considered "down" levels because they are located below the starting grid price of 1.3450.
A System created using the EA Wizard can be edited in Drawing mode by selecting Drawing mode in the properties window.
The center window in the VTS application, used for dragging, dropping, connecting and configuring Elements.
Expert Advisor - an automated trading system that runs on the Metatrader platform.
Electronic Communication Network
Exponential Moving Average
An error prevents an EA from being built. A warning allows an EA to be built but provides information that may be critical.
The extension of an executable Expert Advisor.
Expert Advisor - an automated trading system that runs on the Metatrader platform.
FOReign Currency EXchange
A special MQL function that is called when an EA is is started..
Linear weighted moving average or LWMA is a moving average which assigns more value to current prices and is thus more responsive to latest price trends.
Moving average
A unique number that allows an EA to identify the positions it has opened.
The Main System Drawing is the drawing that has the same name as the system. It is the entry point for the system.
An order that is placed at the current market price.
A expression that calculates a value; it may use any mathematic operation as well as any of the MQL math functions.
The Members Area is located at www.iExpertAdvisor.com. It is a members-only area of the website where members can access the latest version of their purchased products.
An editor application; part of the Metatrader platform. The MetaEditor is used to create and edit mq4 files.
The executable application used to convert an mq4 file into an ex4 file.
The MetaTrader trading platform is an intuitive, easy to use Forex trading platform.
VTS supports to modes of operation: Wizard mode and Drawing mode.
A measure of the average price or exchange rate of a currency pair over a specific time frame.
Meta Query Language
In a logical expression, the value that connects two adjacent logical conditions or terminates a logical expression.
The available values are: AND OR RETURN_TRUE
In a logical condition, the left and right values that are compared.
In a logical condition, the center value that operates (performs a comparison) on the left and right operands.
A unique number assigned to a trade when it is opened.
Type of order.
Market orders can be:
OP_BUY
OP_SELL.
Pending orders can be:
OP_BUYLIMIT
OP_SELLLIMIT
OP_BUYSTOP
OP_SELLSTOP
An input value to a function that is used by the function to perform an operation or calculation.
Pip or "percentage in point," refers to the last digit of a currency price.
The trading system that communicates with a broker's system to open, close and modify trades.
The built-in MQL functions.
The Metatrader tools used by VTS to build Expert Advisors.
The path to the location of the Metatrader platform.
Same as PIP: "percentage in point," refers to the last digit of a currency price.
Used to get the price value of a candle (or bar):
PRICE_CLOSE
PRICE_OPEN
PRICE_HIGH
PRICE_LOW
PRICE_MEDIAN
PRICE_TYPICAL
PRICE_WEIGHTED
A function prototype is a declaration of a function that omits the function body but does specify the function's return type, name, number of argument and their types. While a function definition specifies what a function does, a function prototype can be thought of as specifying its interface.
An Element, folder or a file that can be read but can not be changed.
An Element, folder or a file that can be read and written to (changed).
The type of data that is return from a function. See Data Type.
To commit changes to the file system
Save an element or system to a new name. The original still exists; the original item is cloned and then the name is changed.
The scope of a variable element defines where the variable can accessed and used.
A MetaTrader script is created using MQL code and/or VTS Elements. Scripts are located in their own folder underneath the “experts†folder and appear under their own menu in the MetaTrader platform.
Note: a Script executes just once, while an Expert Advisor executes each time a new price value is received.
A pending order that opens a short position when the price breaks above a level.
A pending order that opens a short position when the price breaks below a level.
The bar or candle that is currently forming (furthest to the
right on a candlestick chart) is numbered zero. Each bar to
the left increases in number. A series, or array, of Indicator
values also follow this concept of number 0 starting at the
far right with each number increasing to the left. The Shift
of an indicator value is the index in the array of the value,
where shift=0 is the latest value and shift=1 is the value
from the last period.
Simple Moving Average
Smoothed Moving Average
The files found in the "sounds" folder of the MT platform that can be used by the MQL function PlaySound.
A Strategy Template is type of "New System" that appears on the Welcome screen. It creates a new copy of the Strategy Template system with a new name.
The spelling and grammar of a programming language. Computers are inflexible machines that understand what you type only if you type it in the exact form that the computer expects. The expected form is called the syntax.
Errors created when MQL code does not follow the correct form (or syntax)
The high-level object that contains all elements and produces an Expert Advisor.
All of the functions used within a System; organized in a special folder in the function toolbox.
Same as Main System Drawing. The Main System Drawing is the drawing that has the same name as the system. It is the entry point for the system.
All of the logics used within a System; organized in a special folder in the logics toolbox.
All of the variables used within a System; organized in a special folder in the variable toolbox.
The name of the executable file that is the Metatrader platform: terminal.exe
The minimum upward or downward movement in the price of a currency pair. The term "tick" also refers to the change in the price of a currency pair from trade to trade.
A unique number assigned to a trade when it is opened.
A signal to open or close a buy or sell trade.
A trading system that opens trades based on price movement through different levels of a grid. The total profit or loss of the entire set of trades is calculated on each tick and the grid is closed if either a profit target or a maximum loss is reached.
Same as Data Type. A data type is simply a section of memory used to store a value.
In a trading grid, a term used to describe the area of a price chart above the initial starting price position.
For example, if the grid begins at 1.3450:
- The price range from 1.3651 to 1.3670 may be considered level 1. (a 20 point range)
- The price range from 1.3671 to 1.3690 may be considered level 2.
These are considered "up" levels because they are located above the starting grid price of 1.3450.
Visual Trader Studio. A visual application for creating automated trading systems, including Expert Advisors.
An error prevents an EA from being built. A warning allows an EA to be built but provides information that may be critical.