File Expert Advisor Metatrader 4 Settings

How to install Forex expert advisor for metatrader 4

Any of the novice traders eventually discovers automatic trading, fortunately, Forex resources are simply overflowing with free and paid trading experts who want to try to test or even start trading them. Therefore, in this article we will talk about how to install a Forex robot on a trading account in MT4. This article is the best tutorial programming robot metatrader 4.

STEP 1. Download The Advisor

First of all, it should be remembered that the Forex Advisor is not magic that brings money to its owner, but a program that contains the algorithm of trading in certain conditions expressed in one or more files.

The trading robot is a file with the extension .mq4 or .ex4. There is no difference for an ordinary trader: .mq4 is a file with open source, which terminal will compile in the counselor .ex4 is the compiled EA. One can download clear robots metatrader 4 for free.

STEP 2. Install expert advisor files into the folder metatrader 4

Now you need to install each file in the appropriate directory of our MetaTrader 4 terminal.

  • The expert Advisor file (.ex4 or mq4) copy or transfer to the directory C:\Program Files\ MetaTrader 4\ MQL4\ Experts
  • Archive with additional indicators unpack(!) to directory C:\Program Files\ MetaTrader 4\ MQL4\ Indicators
  • Library file copy (move) into the directory C:\Program Files\ MetaTrader 4\ MQL4\ Libraries
  • Settings file copy (transfer) to the folder C:\Program Files\ MetaTrader 4\ MQL4\ Presets

STEP 3. The installation of an expert advisor on the chart

Start or restart the MetaTrader 4 terminal if it was launched before.

Before installing the EA on the chart, we need to configure the terminal to work with trading robots metatrader 4. To do this, press Ctrl + O or on the terminal panel go to the tabs “Tools” — “Settings”.

In the settings window that appears, go to the “Expert Advisors” tab and configure the terminal.

STEP 4. Install an expert advisor on the chart

On the terminal panel, click the “Navigator” button, on the panel that appears on the left, go to the “Expert Advisors” tab, find our expert Advisor and drag it to the chart of the currency pair we need.

STEP 5. Setting the forex advisor

After you take the robot to the chart of the currency pair, the EA settings window appears.

Now we need to configure our expert Advisor to work. To do this, go to the “General” tab and tick all the fields.

If settings files were attached to the EA (.set), to install them go to the tab “Input parameters”, click “Load”, in the window that appears, find the desired file and click “Open”. After setting the settings from the file Advisor click “OK».

STEP 6. Start trading with forex advisor

After clicking the “OK” button, the EA settings window disappears, and the name of the expert Advisor is displayed in the upper right corner of the chart.

On the terminal panel, check the Auto-trade button. If it is red – click, it will turn green, it means that the installed expert works.

Do not expect that the Forex robot will start trading immediately after installation. This is a program. It will open trade only when there are conditions inherent in its algorithm.