How to Install Expert Advisor in MT4
The MT4 trading platform is very versatile, and it allows users to add different types of expert advisors for trading.
After you’ve programmed a trading robot or used an EA builder to generate one, you can install it on the MT4 platform and allow it to make automatic trades on your behalf, while you spend your time working or strolling the beach.
The process of how to install expert advisor in MT4 is very easy, and anyone can complete it.
Step 1: Transferring the EA files
- Develop or generate a trading robot and save it on your computer.
- Select and copy the trading robot you intend to install on MT4.
- On the MT4 terminal, click on the “File” tab found on the top navigation menu. Then, click on the “Open Data Folder” on the drop-down menu.
On your computer’s data folder, double click on the “MQL4” folder and then the “Experts” folder.
- Transfer the copied robot files by pasting them on the opened “Experts” folder.
Opened Experts folder
Step 2: Install the EA on the chart
- To make sure the robot is available for installation, refresh “Navigator” panel or restart your MT4 trading platform.
- Look for the EA under the “Navigator” panel on the left side of your trading platform. Click on the “Plus” sign and the robots available for use will be displayed.
- Install the EA on the MT4 chart by dragging and dropping it onto your preferred currency pair and time frame. For example, if the EA is suitable for trading the EUR/USD pair on a 1-hour timeframe, attach it to that particular chart.
Step 3: Modify the settings
- On the “Tools” menu, click “Options”.
- On the popped-up box that appears, under “Expert advisors”, make sure the settings are checked as shown below before clicking “Ok”.
- This step is best to be completed before you attach Forex EA to the chart.
- A quick way of doing this is to go to the “Autotrading” button found on the top of the platform and activating it for live trading. It will show a green color.
- Furthermore, if a popped-up box appears with your EA’s settings, make sure the necessary settings are checked before clicking “Ok”.
- Usually, “Allow live trading” and “Allow DLL imports” are required for the Forex EA to work. But each EA can have their own requirements.
Step 4: Start trading
- If the installation is successful, you’ll see a smiling face on the top right-hand corner of the MT4 platform. This indicates that your robot is ready for trading.
- It’s important to note that before launching your forex robot for live trading, you should try it out under simulated forex trading conditions. This way, you can be able to tell its profitability and make appropriate adjustments to maximize its performance.
That’s how to add expert advisor in MT4!