The Metatrader 4 has been the backbone of forex retail trading since its inception in 2005. The platform is primarily renowned for its adjustability, simplicity, and user community support. These factors have also contributed to this platform becoming the go-to trading facility for many investors and traders worldwide.

However, as we have noticed the rise of AI automations and innovative tools, many people think it will hinder the MT4 platform’s functionality. Moreover, there is another reason that suggests the diminishing lifespan of the Metatrader 4 platform, which is the introduction of MT5 and its new facilities.

In this article, we will explore the factors that are impacting the functionality of the Metatrader 4 and whether this trading platform will stop operating permanently in the trading world.

The Consistent Popularity of Metatrader 4

Before we go to innovative tools and AI, you must comprehend the popularity of the Metatrader 4 and what factors are responsible for driving it. For example, here are some points:

• Speed and Simplicity: The MT4 trading platform features a lightweight ecosystem that enables forex market traders to operate smoothly, even on devices with limited resources.

• Personalization: The platform features a programming language called MQL4, which enables users to develop various facilities. For instance, you can refer to scripts, Expert Advisors (EAs), custom indicators, etc.

• Broker Assistance: Most of the forex brokers can still provide you with services for the MT4 platform. It is primarily due to its robust user base and low resource requirements.

• Resources and Community: While operating on the Metatrader 4 platform, you can find a robust repository of instructions online. Moreover, they are mainly forums, tutorials, and pre-built tools which can make your onboarding convenient.

The Emergence of Smart Tools And AI in Trading

Following our previous mention, AI is responsible for making several changes to trading facilities, such as the forex market and CFD trading. For example, AI is currently shaping how traders can manage risks, analyze the market, and execute their trading operations.

Although the AI tools were initially accessible to institutional traders, they are now also available to retail traders. Moreover, retail traders can mainly access AI due to facilities such as open-source libraries, Python integration, and cloud computing.

Nonetheless, AI also has various technical and trading strengths you can refer to, such as:

• Pattern Detection: Various machine learning models can recognize market patterns that are commonly invisible to the human eye.

• Sentiment Inspection: NLP (Natural Language Processing) can analyze various econometric factors. For instance, there are commercial news, tweets, and reports that are concurrently available for gauging market sentiment.

• Predictive Inspection: AI tools or models can accurately predict price volatility and trends by analyzing previous data.

• Adjustable Strategies: Artificial intelligence can also adapt to trading strategies in response to a shifting market environment.

AI Integration with MT4: Solutions And Obstacles

As there is no native support for Python or AI libraries in the Metatrader 4 Platform, it becomes a challenge for most retail traders. Moreover, several developers and trading professionals have already come up with alternative solutions to solve this problem, such as:

MT4-Python Integration through APIs

Through the usage of MT4-Python APIs, you can extract data from the Metatrader 4 platform and process it in Python. Moreover, you can mainly do this by implementing various powerful libraries such as PyTorch, TensorFlow, and scikit-learn. Nonetheless, some of the popular integration tools and methods include:

• Metatrader 4 Gateway API.
• ZeroMQ message query system.
• MT4-Python bridges by implementing WebSockets or DLLs.

Cloud-Based AI Assistants

Several developers and trading experts utilize various cloud platforms. For instance, you can refer to AWS, Google Cloud, Azure, and many more to connect them with Metatrader 4 through APIs or lightweight scripts. Moreover, this setup allows traders to have various capabilities, such as:

• On-demand model updates.
• High-speed backtesting.
• Integration with large-scale data sources.

AI-Powered Expert Advisors (EAs) And Custom Indicators

Although MQL4 is not ideal for machine learning, some developers can still use it to create hybrid systems. Moreover, they can also encode the AI-generated signals into logic that is readable by an MQL4 EA (Expert Advisor).

For example, here are some points:

• Trained AI models can forecast several market reversals.
• It can translate forecasting logic into a rule-based MQL4 Expert Advisor (EA) that can be utilized for trading purposes.
• The following Expert Advisor (EA) can reflect the AI behaviour within the Metatrader 4 ecosystem.

Smart Trading Management Facilities

Above the trading entry, AI can optimize trading management as innovative tools can offer you different capabilities, such as:

• Automatic adjustability for stop-loss and take-loss levels depending on market volatility.
• Using reinforcement learning to improve the trailing stop logic.
• Managing portfolio risk by implementing various advanced mathematical models.

The Future of Metatrader 4 in An AI-Powered World

Although MetaQuotes has shifted its focus to the MetaTrader 5 platform, it continues to offer various facilities. For instance, there are native features, efficient support for cross-asset trading, and optimized testing tools.

Also, by incorporating AI-powered solutions and innovative tools, the Metatrader 4 platform can continue its services to serve traders who:

• Prefer its interface and workflow.
• Depend on existing Expert Advisors and indicators.
• Trade primarily in the forex market.

In Conclusion

In the rapidly evolving trading infrastructure, legacy platforms like Metatrader 4 can still operate by integrating with different methods. Also, instead of leveraging smart integrations and AI, traders can still use the MetaTrader 4 facility and extract more value from it.

Nonetheless, if you are looking for trading platforms for reliable services where you can settle without much inconvenience, our FXGiants platform might be the right fit for you. For example, our services include affiliated programmes, professional brokers, and other trading facilities which you can leverage to enhance your overall trading experience.

FAQs

1. Can you implement AI to trade in the forex market?

– Yes, you can implement AI to trade in the forex platform by using AI-powered algorithms and tools that mainly operate through the market data.

2. Can you profit in forex trading by using AI?

– AI can be profitable for many reasons, such as emotional detachment, fast processing, and constant observation.

3. How can you make an Expert Advisor (EA) with AI?

– If you want to create an EA with AI, you mainly have to describe your preferred trading tactics to an AI platform.

4. What is the most efficient Expert Advisor (EA) for MT4?

– Some of the most efficient EAs for the MT4 platform include FXCharger, CarinaBot, and GPS Forex Robot.