MT4 Expert Advisors (EA), Automated Trading. How to Install

An Expert Advisor is an automated trading system (ATS) written in the MetaQuotes Language II (MQL II) and linked to a particular chart. That Expert Advisor is not only able to notify you of trading opportunities, but can also execute trades on your trading account, sending them through to the trading server. Expert Advisors will also let you test your strategies on historical data, and will plot entry/exit points on the chart

Metatrader Expert advisor should has ex4 or mq4 file extenshion. mq4- sourse code, ex4- compiled code. First of all it is necessary to copy this file to the folder experts of working directory. Under a working directory we understand a root directory, in which we installed MetaTrader 4 terminalThe second step is to restart MetaTrader . After the restart the expert should be added to the list of experts in the window Navigator . It necessary to stress that the colored icon corresponds to mq4 file. If you have an ex4 file only, an icon in the window Navigator will be grey. The same grey color may mean that the errors in a source code appeared.





















In order to check expert errors, you may press F4, the editor of language MQL4 , and then it is necessary to load the source code of expert into the editor. Press F5 in order to compile the expert advisor. In case of success, the sentence '0 errors' will appear in conclusion window. Warnings are not errors and their presence does not hinder the successful compiling.

Now MetaTrader identifies our metatrader expert advisor and the source code of forex expert does not contain errors. Next logical step will be to specify working pair and timeframe for the expert. The easiest way to do it is to apply the technology Drag-and-Drop . For this purpose it is necessary to select metatrader expert, press the left mouse button and drag it on the required chart, then release the button. There is another way. After the selection of metatrader expert advisor, press the right mouse button for context menu, then choose from the menu Attach to and chart .

If you made the steps mentioned above correctly, you should see the window of expert settings, where you should let the expert 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.