Script

Script is a program that runs only once after its execution. It is the simplest type of program that can be written in MQL 4.

Scripts are stored in experts\scripts subdirectory of the terminal directory (e.g. C:\Program Files\MetaTrader 4\experts\scripts).

Scripts are often underestimated, although in fact they create a great opportunity to start automation of your trading. They can do a lot of mundane work for you. Actually, they are able to interact with any object on the chart window, open/close/modify orders, create objects, analyze your previous trades, etc. Moreover, if script is dragged and dropped on the chart window, information about indicated price and time can be used in further calculations.

A good example of simple script is the one which opens positions according to Fibonacci Retracement object. This script is described in details and can be downloaded from the Download section.