An Expert Advisor (EA) is a type of automated trading software that operates on the MetaTrader platform, such as MT4 or MT5. It allows traders to automate their trading strategies by executing trades based on pre-defined criteria without the need for manual intervention. EAs can analyze market conditions, manage trades, and implement strategies using various indicators and algorithms.
Traders can customize EAs to fit their specific trading styles, such as trend following or scalping, and can also backtest their strategies on historical data to evaluate performance. This automation helps to eliminate emotional trading decisions, increase efficiency, and enable trading 24/7 without the trader's direct involvement.