Scripts are the additional program of the trading platform. Trading platforms such as MetaTrader 4, 5 have significant functional. Still, for the convenience of trade you can use additional scripts. Script does not analyze the market or the price movements (like euro dollar movement on forex), and does not give trading signals, does not use fundamental analysis in forex. Their task is to increase the functionality of the trading platform.
Additional equipment terminal allows to trade easily: automatically put pending orders and move the stop loss, take profit with the mouse, one click to close all positions, open orders and many other useful features.
At the moment, there are a lot of scripts. To use them just download the program and ready to install in your trading terminal. To do this, download the file to your computer, make decompress the file and add the program file to a folder expert / scripts at the installation location of the terminal.
Here are some useful scripts:
1) Setting of two pending orders BUY-STOP and SELL-STOP. Set automatically orders for specified parameters. When triggered, the second one is removed.
2) Automatic closing of profitable orders. It operates as soon as the profit margin reaches the specified value.
3) Automatic closing negative positions. Avoids damages at operation stop.
4) Determination of the intersection at which position brings profitability level of drawdown.
5) Move the pending orders and stops with the mouse, or mounting them on a template.
6) Calculation of the volume of trade (lots) in view of all open positions and available funds on deposit in the parameters and conditions of the transaction.
7) The calculation of the level of collateral for transaction points as necessary funds to open a position specified lot of any currency pair.
8) Closing all orders allows one click to instantly close all positions on all assets.
9) The definition of risk trade: the program calculates the recommended amount of the transaction and setting the levels of stops, on the basis of defined parameters.
10) Determination of volatility activation is selected by a certain time period, it characterizes the sharpness of the price fluctuations.
11) Trailing stop. It allows you to accompany profitable positions, with movement into the black, for a given number of points.
If a player has programming skills, you can create something special for their own needs and trade practices. Although an abundance of scripts is sufficiently large. Over time, there are more and more traders assistants.