What’s the difference between an Expert Advisor and a Script? Everybody get this concern a lot.
Both are composed in MQL, so they both have access to the library of MQL functions for opening and closing trades, finding sign values and even sending out e-mails.
One distinction is that Scripts lie in their own folder below the “Experts Advisor” folder on your computer.
Also, Scripts appear under their own menu in the MetaTrader platform.
However, the most significant difference is that a Script performs just once, while an Expert Advisor executes each time a new price value is gotten.
Yeah, I understand that tail end is a mouthful: “carries out each time a brand-new rate worth is received”.
This is how it works: Your Expert Advisor, physically situated on your computer system, waits on new cost data to be sent out from the broker’s server.
When new rate information is received, your Expert Advisor executes. If there isn’t any new price information, your EA does not perform.
You might have seen that when the market is slow your EA does not run. This behavior is right!
EA’s are created to perform their reasoning based upon changes in cost. (Remember, a modification in cost will usually lead to a modification in an indication worth.) If there is no change in price, there is no factor for the EA to carry out.
There’s a subtle by-product of this behavior that you should be aware of.
If your EA consists of logic that is entirely based on time, it may not carry out precisely the way you prepared.
Expect your EA is created to open a trade at 8:00, but the marketplace is sluggish and there is no rate motion at that time. Well, it ain’t gon na happen. Not at 8:00.
Due to the fact that your EA will not even carry out if there is not a modification in cost.
If your EA is written correctly, it will perform on the next cost modification after 8:00.
Truthfully, this is normally not a big offer. That trade arranged for 8:00 will normally be opened within a few seconds of 8:00.
Still, it’s good to be familiar with these subtleties. You ought to understand the behavior of your EA under any market condition.
