Here I thought and decided that at first, it would not be superfluous to analyze the installation process of any automatic trading adviser in general since it is universal for all types.
- As a rule, trading advisors for Metatrader 4/5 themselves have 2 extensions: .ex4 or .mql. However, sometimes it happens that with them comes a set of indicators and libraries (do not be alarmed by this word if you are a beginner), which will need to be installed for correct operation, as they are not in the “standard configuration” of the trading terminal.
- Copy the advisor file (.ex4 or .mql).
- Open the folder in which the MT4 terminal is installed.
- There we find the MQL4 (or MQL5) folder, and in it is the expert’s folder, in which you should insert the file with the adviser (I recall – it has the extension .ex4 or mql). Support files do not need to be copied here.
- Now we’ll deal with the auxiliary files. Depending on the resolution, we will copy these files to the appropriate folders. They can be either in the “Experts” folder or in the MQL5 folder:
- if the file has the extension “set”, it should be copied to the “presets” folder;
- if the file has the extension “dll”, copy it to the “libraries” folder;
- f the set contains files with indicators (they also have the extension .ex4 or .mql, you can distinguish them from the adviser by name) – into the indicators folder.
- We check whether all the files we correctly “shoved” into the correct folders.
- If all is well, start Metatrader 4/5 (or restart if it was open before).
- When the terminal opens, at the top we find the “Service” tab, click on it and select “Settings”.
- Now it is necessary, so to speak, to “give the adviser work.” To do this, select the “Advisors” tab, check the boxes, as in the screenshot, and click OK.
- After we have given the adviser the authority to manage our funds (real or virtual) according to his trading strategy, it is necessary to determine which instrument we will allow him to trade. To do this, you first need to open the chart of this tool. This can be done in several ways, and we will consider the simplest ones:
- At the top of the terminal, select “File” and then “new chart”, after which we select the tool we need;
- In the “market review” window, right-click on the desired tool and select “open chart”
- Next, we need a window called “navigator”. It, like the will to win, is either there right away, or you need to add it yourself. You can add it as follows: at the top of the terminal, select “View” and then “Navigator”.
- Now we should add our adviser to the chart of the instrument we have chosen. To do this, in the “Navigator” window, click the plus sign opposite the “Advisors” section.
We find our advisor by name and drag it onto the chart by holding the left mouse button.
Important! Pay attention to the timeframe set on the chart. It often happens that the adviser is designed to work only on a certain timeframe – this is indicated in the description for it.
- After the above operation, a window with the settings of the trading robot should appear (see figure).
Depending on your risk management parameters, the size of the deposit in the forex market, as well as the desire/unwillingness to follow the recommended rules for using the adviser, you can set the settings as you wish.
If the goal is, for example, to “test the adviser with” basic parameters “, and the file with the settings template (.set) came to it, then you can simply download this template. To do this, click the” Download “button and select the settings file in the “presets” folder (how to find it, we examined in paragraphs 4 and 5).
In addition, if you changed the settings “for yourself” and do not want to set them each time you enter the terminal, you can save them in your own template by clicking the “Save” button.
- After we figured out the settings and installed the necessary ones, click the “OK” button. A smiley/icon and the name of the adviser should appear on the chart in the upper right corner.
You also need to check that the “auto-trading” button is green. If it is red, click on it with the mouse. In principle, that’s all. From this moment, if everything went well, the adviser will trade according to the algorithm laid down in it. If you want to “disable” the EA for some reason – just click on the “auto-trading” button again to make it red. In this position, automatic trading will not be carried out.