MT5 on SteadyPipshttps://steadypips.net/tags/mt5/Recent content in MT5 on SteadyPipsHugoen-usWed, 29 Jul 2026 00:00:00 +0000Forex Expert Advisor (EA): What It Is, How It Works & How to Choosehttps://steadypips.net/guides/what-is-expert-advisor/Sun, 15 Feb 2026 00:00:00 +0000https://steadypips.net/guides/what-is-expert-advisor/<h2 id="what-is-a-forex-expert-advisor-ea">What Is a Forex Expert Advisor (EA)?</h2> <p>A <strong>forex Expert Advisor (EA)</strong> is an automated trading program that runs inside MetaTrader. It reads incoming price data, applies a fixed set of rules, and places, manages, and closes trades on your account without you being present. On MetaTrader 4 an EA is written in MQL4 and compiled to an <code>.ex4</code> file; on MetaTrader 5 it is MQL5 and <code>.ex5</code>. Both run the same way: you attach the file to a chart, switch AutoTrading on, and the program takes over execution for that symbol and timeframe.</p>