An API is a set of programming code that enables data transmission between one software product and another. It is standardized technology that allows different applications to "talk" to each other. These can include the use of data warehouses like a SQl server, accessing an Oracle or Microsoft Access database, among others. Integrating into these systems can require a sophisticated, custom approach. As systems get more sophisticated and are modified, it is not your concern because the API and its benefits will continue to work.
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Selecting Broker Based on API
An API is a set of programming code that enables data transmission between one software product and another.
The algo trading system does this automatically by correctly identifying the trading opportunity.
Auto Buy Sell Signal Software that provides you an automatic Buy and Sell alert on your screen.
MT4 and MT5 indicators, master advisors, calculators, and even money management.
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UNDERSTANDING HOW API BRIDGE WORK
The Bridge works on the basis of "Signals". A Signal is generally a sign (not choice) to Buy or Sell with explicit conditions. The Bridge forms 4 sorts of Signals:
Long Entry (LE): Equivalent to new Buy for making Long position.
Long Exit (LX): Equivalent to Sell for decreasing/square off Long position.
Short Entry (SE): Equivalent to new Sell for making Short position.
Short Exit (SX): Equivalent to Buy for decreasing /square off Short position.
For putting orders, the Bridge requires values either from Signal, or from Symbol Settings window. Any qualities given in Symbol Settings window abrogate the Signal qualities.
The sequence of Signal handling is as per the following:
Signal is received in Bridge.
Signal Setting rules are applied from Application Settings -> Signal Settings.
Risk Management rules are applied from Application Settings -> Global Risk Management.
Request is sent to API.