The method of putting in an Professional Advisor (EA) could be very easy. EAs are also called buying and selling robots. They will execute automated buying and selling methods or handle your trades.
Putting in an EA is straightforward, listed below are the steps:
- Obtain the customized EA
- Open MT4 and go to File > Open Knowledge Folder within the menu
- Navigate to MQL4 > Specialists
- Drag the EA into the Specialists folder
- Restart MT4 and drag the EA onto the chart
If you would like extra particulars, the tutorial under gives you step-by-step directions on how one can set up your first EA.
It solely takes a few minutes, as soon as what you are doing.
The Set up Course of
Putting in an EA could be a little complicated, for those who’ve by no means accomplished it earlier than.
These easy steps can have you up and working along with your new EA in simply a few minutes.
Keep in mind that EAs can’t be put in on the net or cell variations of MT4. They solely work on the desktop model.
Step 1: Obtain the Customized EA
First obtain the customized EA out of your supplier. It does not matter the place you get the EA from, so long as you belief the supply.
If the EA is in .ZIP format, then double click on the file to extract it. From there, it’s best to get a .EX4 or .MQ4 file.
Both file format will work.
Step 2: Open the MT4 Knowledge Folder
Upon getting the EA downloaded, it is time to add it to MT4.
Open MetaTrader, then go to File > Open Knowledge Folder on the high of the display.
It will open the info folder the place the entire knowledge in your person profile is saved.
Step 3: Copy the EA Into the Knowledge Folder
Double-click the MQL4 folder, then double-click the Specialists folder.
Then drag and drop the EA into the Specialists folder.
Your EA is now put in.
Step 4: Restart MT4
To ensure that the EA to be out there, it’s important to restart MT4.
When you restart MetaTrader, ensure that the Navigator window is open. You may entry the Navigator window by doing one of many following:
- Press Management + N in your keyboard
- Click on the Navigator button on the toolbar
- Go to View > Navigator within the menu
The broaden the Specialists folder to see your EA.
Step 5: Activate the EA on a Chart
Now make sure that the AutoTrading button is chosen. If the button is inexperienced EAs are activated. If the button is purple, EAs is not going to work.
Drag the EA from the Navigator window into your chart window. It is best to see the identify of the EA within the higher proper nook with a cheerful face subsequent to it. This exhibits that the EA is lively.
If there’s a unhappy face subsequent to the indicator identify, which means it’s important to activate AutoTrading by clicking the button within the toolbar.
Frequent Errors When Putting in an EA
There are 2 widespread errors that folks make when putting in an EA.
First, some folks double click on the EA and anticipate it to put in by itself. An EA must be put in manually and doesn’t embody an auto installer.
EAs are available in both .EX4 or .MQ4 codecs. If you wish to edit an EA, then you definitely want the .MQ4 file. That is the supply file that people can learn and edit.
As soon as the .MQ4 file is compiled, it is changed into a .EX4 file, which MetaTrader Four can use. You can’t edit an EA in .EX4 format.
Second, some merchants attempt to use Home windows File Explorer to navigate to the MT4 folder and set up the EA. MetaTrader used to work like that, however they now use profile folders which might be hidden deep within the Home windows file system.
So it’s essential to use the File > Open Knowledge Folder menu merchandise to entry the Specialists folder that you simply’re at the moment utilizing along with your person profile in Home windows.
EAs are unbelievable instruments for automating half or your entire buying and selling system. You do not have to run a totally automated robotic. Incremental Automation helps you automate your entry, exit or trailing cease loss.
So think about using an EA, even for those who do not wish to be 100% automated dealer. If you do not know how one can code, listed below are ideas on discovering a programmer.
You may see our out there EAs and different MetaTrader plugins right here.