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Expertadvisor Indicator Tutorial

To install and run Expert Advisors (EAs) or indicators on the Metatrader4 platform: 1. Download the EA or indicator file to your computer and copy it to the Experts or Indicators folder in your Metatrader4 program files. 2. Open Metatrader4, create a new chart, and attach the EA or indicator by dragging it from the Navigator window onto the chart. 3. For EAs, ensure the settings allow live trading; for indicators, adjust the settings as needed. The EA or indicator is now ready to use on the chart.

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77 views

Expertadvisor Indicator Tutorial

To install and run Expert Advisors (EAs) or indicators on the Metatrader4 platform: 1. Download the EA or indicator file to your computer and copy it to the Experts or Indicators folder in your Metatrader4 program files. 2. Open Metatrader4, create a new chart, and attach the EA or indicator by dragging it from the Navigator window onto the chart. 3. For EAs, ensure the settings allow live trading; for indicators, adjust the settings as needed. The EA or indicator is now ready to use on the chart.

Uploaded by

hariridk
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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How to Install, Load, Run and Edit an Expert Advisor ( EA ) or Indicator On the

Metatrader4 ( MT4 ) Forex Trading Platform

By Financial Resource Group


Bringing profitable Expert Advisors and other forex products to market.
www.MetatraderExpertAdvisors.com

In Metatrader4 there are two types of Expert Advisor and Indicator Files. They are MQL4 and EX4 files. Either will work
on the Metatrader4 platform but only the MQL4 files can be opened and edited with the MetaEditor program that comes
with Metatrader4. The EX4 is the compiled program and cannot be edited.

1. Make sure your Metatrader4 platform is closed.


2. From a website or email download your Expert Advisor or Indicator to a folder on your computer.
3. Locate the file, click on it to highlight it and go to Edit on the Menu bar and select copy or you can also just right
mouse click on the file and select copy.
4. Click open “My Computer” and then click open C Drive, or what ever letter drive that contains your program files,
then click open the Program Files folder.
5. Locate your Metatrader4 folder and click it open. It will probably begin with the name of your forex broker.
6. In the Program Files folder locate and open the Experts folder and paste the file in this folder if it is an Expert
Advisor File. You can paste by selecting paste from your edit menu or right mouse click and select paste. If it is
an Indicator file, then in the Experts folder locate and click open the Indicators folder and paste the file in that
folder.
7. You can now open the Metatrader4 platform by clicking on the “Terminal” icon located in your Metatrader4 folder.
8. Once the Metatrader4 platform is opened you can now open a chart for a currency pair by going to File on the
Menu bar and choosing “New Chart”. Then choose the time frame by going to Charts on the menu bar, then
“Periodicity” and then choose the time frame you wish to view.
9. There other options to choose from in the Charts menu in order to view your chart to your liking, such as candles
or bars, grid lines or not, or choosing Properties and selecting various colors.
10. Now you are ready to place the Expert Advisor and/or Indicator on the chart. Go to View on the Menu bar and
choose Navigator. The Navigator window will appear. In the Navigator window expand Expert Advisors or
Indicators by double clicking it. You should now see all the Expert Advisors and Indicators including the one you
just inserted. You can now place it on the chart by 3 different methods. You can either double click on the
indicator or right mouse click on it and choose “Attach to a Chart” or you can drag it onto the chart.
11. If you are placing and Expert Advisor continue to step #12 if an Indicator skip to #16.
12. Once the Expert Advisor is placed on the chart, the Settings window will pop up. Here you can view the default
settings and adjust them if you need to. Make sure on the Common tab you have the “Allow live trading” box
checked.
13. After you have placed the Expert Advisor on the chart, in the upper right hand corner of your chart you should see
a smiley face. This means the Expert Advisor is running. If you do not have a smiley face but see a frown or an
x, then make sure again that under Properties, the “Allow Live Trading” box is checked. If it is and still you do not
have a smiley face there is one more place to check. Go to Tools on the menu bar and choose Options. A popup
will appear and select the Expert Advisors Tab. Make sure the “Enable Expert Advisors” box and “Allow Live
Trading” box are both checked. Your Expert Advisor is now ready to open, modify and close trades.
14. You can always edit the Expert Advisor settings by right mouse clicking anywhere on the chart and choosing
Expert Advisors and then Properties.
15. You cannot place more than one Expert Advisor on a chart. You can open up multiple charts, either for the same
currency pairs or different pairs and even the same time frames or different time frames and place the same or
different Expert Advisors on each chart. By running multiple Expert Advisors there can be some conflicts. Some
Expert Advisors have a MagicNumber setting where other Expert Advisors and manual trades will not interfere but
not all do.
16. If you are placing an Indicator on the Chart…. after placing it on the Chart the Settings window will pop up. Here
you can view the default settings and adjust the settings if you need to.
17. You can always edit the Indicator settings by right mouse clicking anywhere on the chart and choosing Indicators
List and a popup will appear. Highlight the Indicator you wish to view or edit its properties and click Edit.
18. You can place multiple Indicators on one chart.

To view a video on this subject and other tutorials, go to www.metatraderexpertadvisors.com/tutorials.htm

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