How to install, load and run EA (Robot, Expert Advisor) in MT4
Step By Step instructions:
Expert advisor can be in 2 format (extensions): MQ4 or EX4. (MQ4 – source code, EX4 – compiled version of the code)
1 - Copy expert advisor into “Experts” folder
Copy ex4 (or MQ4) file into your C:\Program Files\MetaTrader 4\experts\indicators folder. ( For example : if your broker Alpari – C:\Program Files\Alpari NZ\experts\indicators folder)
2 – Restart your MetaTrader
Assuming it’s currently open … Ignore this if the application hasn’t been launched
3 – Locate this EA
On the left hand side, look for the “Navigator” window. look into the “Expert advisors” directory. Now you can see this EA (colored icon if it mq4 file. Grey icon if you have an ex4 file. (The same grey color may mean that the errors in a source code appeared)
4. Attach EA to MT chart
The easiest way to do it – Drag-and-Drop . For this purpose it is necessary to select metatrader expert advisor, press the left mouse button and drag it on the required chart, then release the button.
Another way – press the right mouse button for context menu, then choose from the menu Attach to and chart .
Allowing live trading. If you made the steps mentioned above correctly, you should see the window of EA settings, where you should let the EA trade.
Do not forget about the button Expert Advisors , which is located on one of standard tool bars of the terminal. The button must be pressed.
NOTE: The name of forex EA and smiling face must appear in the right overhead corner of the chart
Now we can look over or change parameters of Expert Advisor. Pressing F7 , or from context menu of active chart
The changed parameters can be saved by pressing the button “Save” . The button “Load” serves for the load of the values, which were stored before. A file with the expert advisor parameters has extension set and this file is kept in the directory experts\presets of your Mt4. The button Reset restores the values of parameters on those which are prescribed in an EA itself.
All important information about EA (for example Errors log) you can find in Experts tab:
Good luck …