HOW TO INSTALL AN EA IN MT4
STEP 1: TRANSFERING FILES
1. Create or download an EA. Keep note of the location of where you saved it.
2. Select and copy the EA file you wish to install.
3. Make sure that you also have your MT4 downloaded and setup in your computer. It’s important to note that you can’t use your phone to install an EA, you need a computer to do this.
STEP 2: INSTALLATION OF EA IN MT4
1. Launch your MT4 platform.
2. On the left top corner, on top of the navigation menu, click on “File,” then click on the “Open Data Folder” from the drop down menu.
3. Double Click on MQL4, the find the Expert/ Expert Advisors folder.
4. Paste the EA/Robot you want to install into the Expert Advisor folder.
5. From your Navigator window, click on the Plus sign on next to Expert Advisors and the available EAs should be listed there.
6. Restart your MT4, or you can also right click in the Expert Advisors section of your navigator and the select refresh.
STEP 3: ADJUSTING AND LOADING EA ON MT4
1. You should now be able to see you EA from the navigation panel.
2. Drag it onto the chart you want to set it up. A pop-up window will appear.
3. Make sure the box Allow Live Trading is selected. In case you need to make any adjustments, you will do this at the input section. Our EA will come already set and ready to trade, but we may give you additional inputs that you may want to use in different scenarios.
4. Once everything looks good, click “OK”
STEP 4: GETTING YOUR EA TO TRADE
1. In case your Robot is not trading, check that you have selected the button Auto Trading as shown in the picture. You will notice the icon turning from red to green.
2. You will also see a happy smiley face on the right top corner of the chart.
3. That’s an indication that everything is in order
If your EA is not working, troubleshoot by ensuring that the following options are selected (as highlighted earlier):
“Autotrading” option should be showing green color
- “Allow live trading”
- “Long & Short” positions should be selected
- “Allow DLL imports” options should be selected
- “Allow import of external experts” usually optional
Most of these options are disabled by default. For example, Autotrading is disabled by default for your own safety. If you were a newbie and accidentally run an EA, it could lead to massive damage to your account.
Therefore, the feature is disabled (showing red color) to safeguard traders from such costly mistakes.
Furthermore, if the “Allow live trading” option is not enabled, the EA will not be able to trade on its own You can always go back to adjust EA settings by clicking on the smiley face and a pop-up window will appear.
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