In the context of MetaTrader programming, the term "forex global variable" typically refers to a variable with a global scope within the MetaTrader trading platform. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely used platforms for developing and executing algorithmic trading strategies. In this environment, global variables are declared outside specific functions, making them accessible throughout the entire program or script.

Forex global variables in MetaTrader scripts are crucial for storing and sharing information across different parts of an algorithm. Traders and developers often use them to retain important data, such as account information, trade parameters, or market conditions, ensuring consistency and coherence in the execution of automated trading strategies. Careful management of global variables is essential to maintain the integrity and efficiency of MetaTrader scripts, contributing to the effectiveness of algorithmic trading in the forex market.

In MetaTrader programming (MQL4/MQL5), a global variable is a variable that retains its value even after the program terminates, allowing data to persist between sessions. These variables are stored in the client terminal’s memory and can be accessed across different scripts, indicators, or expert advisors (EAs).

Global variables are managed using functions like:

GlobalVariableSet() – Creates/modifies a variable.

GlobalVariableGet() – Retrieves a variable’s value.

GlobalVariableDel() – Deletes a variable.

They are useful for sharing data between EAs or storing temporary settings. Unlike static or extern variables, global variables remain until manually deleted or the terminal restarts. Proper management is essential to avoid memory clutter.