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what is the difference between indicator and advisor
guys i am new at this thiing calle dadvvisers and robots. what is the difference betweeen indicator and adviser
Please refer to:
https://apiaryfund.com/forum/metatrader … -scripts-0
Expert Advisors(EA's)
These are programs that are designed to automate the tradingprocess by identifying where to enter trades, how many lots to buy/sell, where to place stops/targets and how it will trail any position to maximise potential profit. They generally update every time a new tick arrives.
Sounds great doesn't it.
The problem is, when a human looks at a chart, there isfrequently a large amount of subjective data that the human can make sense of easily. e.g. a Human might say, enter when the fast MA crosses the slow MA and the RSI is NEAR 50. But what does NEAR actually mean? The EA likes to work with absolutes, and some of the things we lack in trading are absolutes.
Consequently, putting all the rules that you use forentering/managing a trade into an EA is not always straight forward, often produces unexpected results, and can easily lead to "curve fitting" e.g. optimising the output of the EA to return as high a profit as possible but only for a specific set of circumstances.
Indicators
These allow you to create variations of existing indicatorsor completely new ones based on whatever set of rules you wish and to display them on the charts or below in the data windows. Indicators cover such things as moving averages, histograms, plotting text above/below bars and changing bar colours based on the coded rules. These are adjusted every time a new tick arrives but depending on the nature of the data being processed may need a certain number of bars to have been posted (e.g. a 10 period MA will need at least the previous 10 bars to provide a value).
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