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An Expert Advisor is an automated trading mechanism provided by a trading platform to automatically place and manage trades (and orders) based on the trading rules defined by the user. An Expert Advisor is also called by other names like Strategy, Trading System, Trading Algorithm, Trading Robot etc.
An Expert Advisor is programmed in a (programming) language provided by the trading platform based on well-defined entry and exit rules. The Expert Advisor is then deployed in the trader's trading account, placing orders and trading exactly as per the rules. It should be noted that an Expert Advisor does not have any intelligence of its own - it simply follows the trading rules it is programmed to execute.
For example, consider a simple moving average trading strategy whereby a buy trade is opened when the price crosses above the moving average, and a sell trade is opened when the price crosses below the moving average. This rule can be programmed into an Expert Advisor, thus automating the process of trading. Further rules for risk and money management can be added to the Expert Advisor based on the trader's requirements.
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