I have MetaTrader 4 through Oanda and we are currently developing signals for FOREX.
We have our own program which creates signals and emails to us in this format (we can change to any):
Enter AUDJPY LONG AT 89.49600 STOP 88.84600 TARGET 90.44600
We'd like to automate this into MetaTrader. Can someone in layman's terms explain the process in as short as possible of how MT4 can accept real-time text of the information above and put it into an pending order?
We actually have multiple signals at once so it would have to receive the signals and place them into pending orders.
Would we be using script or an EA or something different?
Please forgive if there is any bad terminology I'm new.
Thanks in advance,