You can install expert advisors on Mt4 to automate forex trading

MT4 offers a stand-alone installation for Forex traders. You can easily open a Forex account, download the software and install it onto your PC, important link! You can start trading after you have configured the broker and setup your server. A programming capability is one of its key features. Other than being able do charts, to store historical data and to execute trades, it also has the ability of storing price history.

Expert Advisor

MQL4 or Metaquotes is a programming language that looks like C. It comes with a number of features including a structure to the programming language, variable declarations for variables and operands. They are all in MQL file format, which can be modified using the editor provided with the platform. These are known as expert advisers. They run on the MT4 Trading Account.

Create EA

Your trading strategy should be programmed in MQL code, and it must compile without errors. Alternatively, you may purchase a third-party code to be used on your own trading account. After you sign in to your Forex Trading account, you will have to select the chart and timeframe that is best for your trading.

EA Loading

Then, copy the MQL File (Expert Advisors) in your MT4 folder called “experts”. Run MT4 now and it’ll automatically compile your expert advisor. This will show up in “navigator” windows under the “expert advisory” directory. Just select the advisor that you desire and navigate to your currency charts. Simply click and drag. At the top of the chart, in the corner on the right side you’ll see the name the expert adviser. Watch out for a face smiling on the left. If you are seeing a cross it means that you didn’t enable EA.

Enable Expert Advisor

MT4 provides an option for disabling or enabling the expert advisor trading at the middle of the screen. It can be disabled or enabled by simply clicking on the icon. You might have to go into the option menu, and set up some parameters under “tool”. Then you can select “Expert Adviser” on tab. To select, you will need to click on the boxes. Select “Allow DLL imports”, select “Allow Expect Advisor”, or check “Allow the external experts to be imported”. Leave all boxes unchecked for the “Disable specialists when account change”, “Disable expertise when profile is changed”, for “Ask manually confirmation” as well as “Confirm a DLL function call”. After you’ve completed the steps above, there should be a smiling head at the upper-right corner your currency chart. It is up to you how many EAs are loaded. The number I would recommend is 8.

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