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Question-1. What is MQL4/MQL5?
Answer-1: MQL4/MQL5 are programming languages used for developing trading algorithms, indicators, and scripts in MetaTrader platforms.
Question-2. What is the difference between MQL4 and MQL5?
Answer-2: MQL4 is designed for MetaTrader 4 (MT4) and follows a procedural programming model, whereas MQL5 is for MetaTrader 5 (MT5) and follows an object-oriented approach.
Question-3. What types of programs can you write in MQL4/MQL5?
Answer-3: Expert Advisors (EAs), custom indicators, scripts, and libraries.
Question-4. What is an Expert Advisor (EA)?
Answer-4: An automated trading program that can execute trades based on pre-defined strategies.
Question-5. How do you declare a variable in MQL4/MQL5?
Answer-5: int myVar = 10; declares an integer variable named myVar.
Question-6. What are the basic data types in MQL4/MQL5?
Answer-6: int, double, bool, string, color, datetime.
Question-7. How do you print text to the MetaTrader terminal?
Answer-7: Print("Hello, MQL!"); prints text in the Experts or Journal tab.
Question-8. What is the OnInit() function in MQL5?
Answer-8: It is executed when a script, EA, or indicator initializes.
Question-9. What is the OnTick() function in MQL4/MQL5?
Answer-9: It is triggered on every market price update (tick).
Question-10. How do you open a trade in MQL4?
Answer-10: Using OrderSend() function: OrderSend(Symbol(), OP_BUY, 1, Ask, 3, 0, 0);
Question-11. How do you close a trade in MQL4?
Answer-11: Using OrderClose() function: OrderClose(ticket, lots, Bid, 3, clrNONE);
Question-12. What function is used to check account balance?
Answer-12: AccountBalance() returns the current account balance.
Question-13. What is the purpose of OnDeinit() function?
Answer-13: It is called when an EA, script, or indicator is removed from the chart.
Question-14. How do you retrieve the current Bid price?
Answer-14: double bid = Bid; assigns the current bid price to bid.
Question-15. What is the difference between Ask and Bid prices?
Answer-15: Ask is the buying price, and Bid is the selling price of an asset.
Question-16. How do you check the current spread in MQL4/MQL5?
Answer-16: double spread = Ask - Bid; calculates the spread.
Question-17. What function is used to get the current time in MQL4?
Answer-17: TimeCurrent() returns the current server time.
Question-18. How do you retrieve historical price data in MQL4?
Answer-18: Using iClose(), iOpen(), iHigh(), and iLow().
Question-19. What is iClose() function in MQL4?
Answer-19: iClose(Symbol(), 0, 1) returns the closing price of the previous candle.
Question-20. What is the iMA() function in MQL4?
Answer-20: It calculates the Moving Average (MA) of a symbol.
Question-21. What is the difference between OrderSend() and OrderSelect()?
Answer-21: OrderSend() places a trade, while OrderSelect() retrieves existing order details.
Question-22. What is a Magic Number in MQL4/MQL5?
Answer-22: A unique identifier for differentiating trades opened by an EA.
Question-23. What function is used to modify an order in MQL4?
Answer-23: OrderModify() modifies an existing order's Stop Loss (SL) and Take Profit (TP).
Question-24. How do you calculate lot size dynamically in MQL4?
Answer-24: Using risk management formulas, e.g., Lots = AccountBalance() * Risk / 100 / StopLoss;
Question-25. What is iCustom() function in MQL4/MQL5?
Answer-25: It calls custom indicators inside an EA.
Question-26. What is IsStopped() function in MQL4?
Answer-26: It checks whether the script or EA is stopped.
Question-27. What is a for loop in MQL4/MQL5?
Answer-27: A loop structure used for iterating multiple times: for(int i=0; i<10; i++) { Print(i); }
Question-28. How do you use an if statement in MQL4?
Answer-28: if(Bid > 1.2000) { Print("Price is above 1.2000"); }
Question-29. What is the difference between switch and if statements?
Answer-29: switch is better for multiple conditions, while if is better for binary decisions.
Question-30. How do you create a function in MQL4?
Answer-30: double myFunction(double x) { return x * 2; } defines a function.
Question-31. What is a while loop in MQL4?
Answer-31: It repeats execution while a condition is true.
Question-32. How do you check if an order is still open?
Answer-32: Using OrderSelect() and OrderType().
Question-33. How do you send a notification in MQL5?
Answer-33: SendNotification("Trade Alert!"); sends a mobile push notification.
Question-34. What function is used to send an email in MQL4/MQL5?
Answer-34: SendMail("Trade Alert", "Check your trades!");
Question-35. What is a structure in MQL4/MQL5?
Answer-35: A custom data type that groups related variables.
Question-36. What is the purpose of #property strict in MQL5?
Answer-36: It enforces strict type-checking and modern coding rules.
Question-37. How do you load an external library in MQL4?
Answer-37: Using #import "mylibrary.ex4" and #import directive.
Question-38. What is ENUM_TIMEFRAMES in MQL5?
Answer-38: It defines predefined timeframes like PERIOD_M1, PERIOD_H1.
Question-39. How do you set a Stop Loss and Take Profit in a trade?
Answer-39: OrderSend(Symbol(), OP_BUY, 1, Ask, 3, SL, TP); where SL and TP are calculated values.
Question-40. What is ChartID() function in MQL5?
Answer-40: It returns the current chart ID.
Question-41. What function is used to refresh market data in MQL5?
Answer-41: RefreshRates() updates the latest market prices.
Question-42. What is ChartNavigate() function in MQL5?
Answer-42: It moves the chart cursor to a specific time or position.
Question-43. How do you check for errors in MQL4/MQL5?
Answer-43: Using GetLastError() function.
Question-44. What is the purpose of OrderMagicNumber()?
Answer-44: It retrieves the Magic Number of an order.
Question-45. What is iATR() in MQL4?
Answer-45: It calculates the Average True Range (ATR) indicator.
Question-46. How do you log messages in MQL4?
Answer-46: Using Print() or PrintFormat().
Question-47. What is Symbol() function used for?
Answer-47: It retrieves the current market symbol (e.g., EURUSD).
Question-48. What function is used to get free margin?
Answer-48: AccountFreeMargin() returns available trading margin.
Question-49. How do you create a button in an indicator?
Answer-49: Using ObjectCreate(0, "Button1", OBJ_BUTTON, 0, 0, 0);
Question-50. How do you delete an object in MQL5?
Answer-50: Using ObjectDelete("Button1");
Frequently Asked Question and Answer on MQL4/MQL5 (MetaTrader)
MQL4/MQL5 (MetaTrader) Interview Questions and Answers in PDF form Online
MQL4/MQL5 (MetaTrader) Questions with Answers
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