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Autotrading without EAs in MetaTrader 4: discrete trading emulation

In this article we are going to uncover some information about MegaClicker, an addon for Megatrader allowing automated trading in MetaTrader 4 (MT4) without using expert advisors (EAs). It fetches the quotes directly from МТ4 and presses “Buy/Sell” buttons as a manual trader would. One may ask: why should I try to imitate manual trading if I’m trading automatically? Two main reasons are:

First: there are lots of brokers completely disallowing any kind of automated trading with EAs. Obviously, no arbitrage EA can work with a broker like that, so they are not "abused" by arbitrageurs and pose an easy "target" for MegaClicker.

Second: emulating a discrete trader can lessen the risks of brokers hindering the EAs performance. Most Forex trader would not be surprised by our "revelation" that it’s very easy for a broker to differentiate a manual order from an expert advisor one - they simply have different markers in MT4 Administration software. Dishonest brokers are known to hinder profitable traders’ conditions by requotes, execution delays etcetera... Scalping and arbitrage EAs are their top priority for worsening the conditions. At the same time most brokers are known to be very loyal to discrete traders. More to say, manual traders often get better execution conditions and virtually no requotes at some brokers. MegaClicker will allow you to avoid getting under brokers’ "filters" and may even help you in getting better executions because of brokers believing the trades to be executed by a human, not a robot.

So how does MegaClicker function? It uses WinAPI to fetch the quotes directly from "Market Watch" window and transfers the data to Megatrader. Opening positions is achieved by clicking "Buy/Sell" buttons on the "One Click Trading" panel. Position closing is either done by clicking the close button on the position summary tab or locking an order by opening an opposite one.

Unfortunately, MetaTrader 4 does not allow getting every order/symbol information via WinAPI so MegaClicker users are limited to one symbol only.

Now we’ll show you the MegaClicker setting up process. First we’ll set up MetaTrader 4.

1. MT4 should be set to "English" language.

2. "One Click Trading" panel should be enabled.

3. Only the symbol that is going to be traded should be enabled in "Market Watch".

4. The symbol should have a chart opened with a "One Click Trading" panel on it (to enable it, just right-click the chart and choose "One Click Trading").

5. "One Click Trading" volume should be set equal to "Lots in spread unit" in composite instrument settings in Megatrader and "Order size" in MegaClicker settings.

6. "Terminal" panel sould have the "Trade" tab enabled, and "Auto Arrange" option in the tab settings should be also enabled (done by right-clicking and choosing the corresponding option in the context menu, enabled by default).

Now to MegaClicker’s settings.

MegaClicker Settings

Account – MT4 trading account number.

Trading symbol – instrument name in MT4.

Order size – Position volume. Should be equal to "One Click Trading" volume setting and "Lots in spread unit" in composite instrument settings in Megatrader.

Confirmation time – order confirmation timeout for MegaClicker in seconds.

Lock position instead of closing – If turned on, MegaClicker will open opposite orders, thus locking the positions instead of closing them. Then the locked positions should be closed by using "Close by" or "Multiple close by" functions or scripts in MT4. This option is very convenient if using MegaClicked on a Virtual Private Server (VPS).

MegaClicker interface consists of two buttons: "Connect" and "Disconnect", connecting to and disconnecting from MT4 accordingly.

If MT4 terminal is restarted after the connection has been established, it should be re-enabled by pressing "Disconnect", and then "Connect").

Full algorithm for starting MegaClicker trading is:

1. Start МТ4.

2. Start MegaClicker and connect it to MT4.

3. Start Megatrader and establish connection with МТ4.

Trading on financial markets is tightly tied with competition among traders and is called "war" by many analytics and traders themselves. A trader needs an edge above the market and other traders to win, be it a trading strategy or hardware/software advantage. MegaClicker does definitely give you an edge over other traders because you both can trade using robots with the brokers that disallow them and can also "disguise" you for a discrete trader so you won’t get your execution and trading conditions worsened.