📖 Financial Lexicon Term
What is Expert Advisor (EA)?
Automated trading software written in MQL4 or MQL5 that runs on MetaTrader terminals to execute trades algorithmically.
Detailed Explanation
An EA monitors the markets 24/5 and executes trades automatically based on pre-programmed parameters (e.g., RSI crosses, moving average breakouts). They completely remove human emotion from trading, provided the underlying code is structurally sound.
💡 Practical Trading Example
You purchase a grid-trading EA, attach it to the EUR/USD chart, and it trades your account while you sleep.