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📖 Glossary (MT4 Terms)

A quick reference for common MT4/GoMT4 terms used throughout the docs and code.

📝 Quick Cheat Sheet

Term Example Meaning
Symbol EURUSD Instrument identifier
Lot 1.0 → 100,000 Standard trading volume
SL 1.09500 Stop Loss (protect from loss)
TP 1.10500 Take Profit (close with gain)
Ticket 12345678 Unique order ID
Digits 5 Quote precision (1.23456)
Margin 100.00 Locked funds for position
Equity 1000.00 Balance ± open positions PnL
Stream StreamQuotes() Continuous updates (ticks, orders, profits)

📊 Order Lifecycle Diagram

   ┌───────────┐
   │ New Order │
   └─────┬─────┘
         │ (executed at market / placed pending)
         ▼
   ┌───────────┐
   │   Open    │
   └───┬───┬───┘
       │   │
       │   │ SL hit (loss)
       │   ▼
       │ ┌───────┐
       │ │Closed │
       │ └───────┘
       │
       │ TP hit (profit)
       │
       ▼
   ┌───────────┐
   │ Delete/   │
   │ Cancelled │ (for pending orders)
   └───────────┘

This diagram shows a typical order lifecycle: creation → open → closure (SL/TP or manual) or cancellation (if pending).

🧑‍💻 Account

  • Login → Numeric ID of your trading account.
  • Password → Investor or trader password. Grants access to terminal.
  • Server → Broker server name (e.g., RoboForex-Demo).
  • Balance → Money currently on the account.
  • Equity → Balance + open positions PnL.
  • Margin → Funds locked for open positions.
  • Free Margin → Equity − Margin.
  • Leverage → Ratio (e.g., 1:500) showing how much borrowed funds you can use.

📈 Market Info

  • Symbol → Instrument identifier (e.g., EURUSD).
  • Quote → Current bid/ask prices for a symbol.
  • Digits → Decimal precision of the quote (e.g., 5 digits → 1.23456).
  • Point → Smallest price step for the symbol (e.g., 0.00001 for EURUSD).
  • Lot → Standard trade size (usually 100,000 units base currency).
  • Lot Step → Minimum increment allowed when specifying volume.
  • Contract Size → Amount of base currency per lot.
  • Stops Level → Minimum distance (in points) required for SL/TP from current price.

📦 Orders

  • Order → Instruction to buy or sell a symbol.
  • Market Order → Executed immediately at current market price.
  • Pending Order → Placed to execute in the future at a specific price (Limit or Stop).
  • Ticket → Unique ID of an order (int64).
  • SL (Stop Loss) → Protective level to cap loss.
  • TP (Take Profit) → Target level to close with profit.
  • Magic Number → User-defined integer to tag EAs/orders.
  • Comment → Free text attached to an order.

🔄 Order Types (MT4)

  • OP_BUY → Buy at market.
  • OP_SELL → Sell at market.
  • OP_BUYLIMIT → Pending: buy if price drops to X.
  • OP_SELLLIMIT → Pending: sell if price rises to X.
  • OP_BUYSTOP → Pending: buy if price rises to X.
  • OP_SELLSTOP → Pending: sell if price drops to X.

🔌 Connection & RPC

  • gRPC → Protocol used by GoMT4 to expose MT4 functions.
  • Port 50051 → Default local address where server listens (127.0.0.1:50051).
  • Stream → Long‑lived connection pushing updates (quotes, orders, history).
  • Unary RPC → One‑shot request/response (e.g., GetQuote).

📊 History & Streaming

  • Quote History → Past bid/ask points (OHLC bars or ticks).
  • Order History → List of closed trades for a period.
  • StreamQuotes → Continuous tick updates.
  • StreamTradeUpdates → Real-time feed of order lifecycle events.

🛡️ Errors & Codes

  • MrpcError → Generic RPC error (code + message).
  • OrderError → Error tied to a specific order (invalid volume, price, etc.).
  • Slippage → Max price deviation allowed when executing orders.
  • Requote → Server rejects trade at requested price, offers new one.

✅ Cheat Sheet (summary)

  • Account → who you are.
  • Market Info → what you trade.
  • Orders → how you trade.
  • Connection → how GoMT4 talks to MT4.
  • History/Streaming → how you monitor trades and quotes.
  • Errors → what can go wrong.