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How to install Forex indicators in MT4

Hello everyone, my name is Alexander Norkin. I hope the chosen topic for the article will be in demand and relevant, and if you are a beginner, then even more so, read to the end, because very soon, in the “Indicators” section, interesting developments will appear that you will need to install yourself.

Looking ahead, I can reassure people for whom a computer, as they say, is only for playing solitaire. Installing and adding the indicator to the trading platform is carried out in 3 steps:

  • downloaded;
  • installed;
  • activated for work.

Everything is very simple, but let's take it in order.

How to install an indicator in MetaTrader 4

I would immediately like to ask experienced programmers, fortunately I know that my site is read by such people.

I myself am not a programmer and I don’t fully understand all the tricks, but I, like many other users, had a question: “Is it possible to create a virus in the MQL language?”

The question is not without common sense, because we work with real money, so why don’t hackers take advantage of the existing situation and release a virus, disguised as a promising development, for free access, with further consequences?

I can add on my own behalf, I downloaded it great amount and scripts, and advisors, and indicators, but I downloaded the roofing felts in the right places, or it’s simply impossible to introduce a virus into these files, but the fact remains that no viruses were detected.

Let's figure out where you can download the indicator for the MetaTrader 4 platform? Yes, almost everywhere, anywhere. Not only that, there are specialized sites where people engage in professional programming (for example, www.mql5.com), and in addition, personal sites for program developers for trading platforms appear every day.

Therefore, if you have a desire to work with an indicator not included in the MetaTrader 4 list, then there are two options:

  • find an indicator on the Internet and download it;
  • or, order development according to your technical specifications from a professional.

Zipped MT4 File Extensions

Suppose you ordered the development of an indicator of interest from a professional programmer. In this case, there is nothing to think about; at the moment of transferring the files, the programmer will independently tell you what to install and where. What should you do if you had to download an indicator from the Internet?

Usually created by someone and posted for free access indicator, packed into an archive (.rar, .zip, etc.). Responsible programmers, along with the indicator files, often add instructions for installation in MT4, configuration and, of course, their coordinates.

Files with the indicator have the extension:

  • .ex4;
  • .mq4.

Rarely, but still you come across developments in which, in addition to the indicator itself, a library is used. In this case, the archive will contain a file with the extension:

  • .dll.

In addition to the extensions described above, for many advisors, as well as indicators, developers add a file with the extension:

  • .set.

I would like to answer very briefly what each file is used for.

Files with extension .ex4

The file with the extension .ex4 contains the algorithm of the indicator used.

Very often you can see exactly these kinds of compiled indicators being distributed. If a developer, for some reason, has no desire to share the source code of his creation with others, then he throws open access file of the indicator itself, without the ability to edit.

Files with the extension .mq4

If you see such an extension, then the author nobly allows you not only to use his development, but also to edit the code, provided that you know the programming language. Next, compilation is performed and the output is the indicator described above with the extension .ex4.

Files with the extension .dll

The library contains the main functionality of the indicator/advisor, and the .ex4 file uses these functions and displays the execution results in the terminal.

In other words, the code that is in simple indicators contained in the .ex4 file, in more complex ones it is transferred to the .dll library.

Why is this being done? The fact is that the MQL4 language in which indicators and advisors are written, although good, cannot be compared with a full-fledged programming language like C++, Java or .NET. Therefore, if you need to implement some more complex algorithm, it is much more convenient to use a full-fledged programming language, and then connect it to MetaTrader 4 as a library.

Files with the extension .set

Files with the .set extension store the saved input parameters of the indicator, which will be discussed below.

Copy indicator files for MT4

Great! We have sorted out the files and what they are responsible for, all that remains is to understand how to add an indicator to the custom list and activate it.

The easiest way to find the folder with the trading platform files is to click on the “File” button, in top menu platform, and select “Open data directory”.

In the window that opens, select the MQL4 folder, and then pay attention. Here is a list with different folders, each of them stores its own files. Since we are installing the indicator, our folder is “Indicators”, but do not forget about the library file (if available), it must be added to the “Libraries” folder.

Using the example of adding the “Scalper Dream” indicator, I want to demonstrate this most complex procedure for installing the indicator in the MT4 platform.

After you have opened the folder with indicators, unzip it to separate folder(for example, on the desktop) files with the previously downloaded indicator. Look at what files are stored in the archive and copy each one to its own folder.

In my case, the developer provided the file “Scalper Dream_build600.ex4”, which means that I need to copy it to the “Indicators” folder and, unfortunately, I will not be able to edit or view the code.

If there were no other files in the archive, then the indicator installation procedure is completed. All that remains is to restart the platform and use the added indicator.

Important!! After installing the indicator in MetaTrader 4, you should either restart the terminal or click right click mouse in the Navigator window and select the Refresh command. After this, the installed indicator will be added to the list of existing ones and will be ready for use.

How to install an indicator in MetaTrader 4 through the “Market” tab

The MetaTrader trading platform is developing. With each new version, the developers are offering more and more improvements. In all modern MT4 builds, there is a “Market” tab located in the “Terminal” window. Through this tab, without additional manipulations, you can install the indicator of interest. True, there is one BUT, the indicator must be present in this tab, and it gets there through the programmers’ website www.mql5.com, where you need to register and provide your product to be added. Administrators check the development for errors, and then decide whether to add it or not.

If everything is fine and the indicator is added, we, the users, just need to either find it in the main window or use the search function.

How it works? For example, you found the required indicator in a huge list. We left-click on it, after which we go to the indicator window, where we can familiarize ourselves with its description, characteristics, screenshots and other information. Under the name of the indicator, there is a “Download” button. Click and wait for the download.

When the indicator has finished loading, restart the platform, find the installed indicator in the list of indicators in the Navigator window and activate it.

This method is much simpler. In this case, adding the indicator to the MT4 platform will happen in a matter of minutes, and most importantly, the indicator will be installed where it is needed. But, as you understand, in this case you need to know the name of the indicator, otherwise you can spend a huge amount of time searching the catalog.

How to run an installed indicator in MT4

After rebooting the platform, select the trading instrument of interest and click on “Insert” → “Indicators” → “Custom” → select your newly added indicator, or activate the “Navigator” window by selecting “View” → “Navigator” or by pressing a key combination “Ctrl” + “N” and in the list of indicators, find the one you are interested in.

In fact, adding an indicator to the chart is done, but almost always, after these actions, the indicator settings window appears.

Example of indicator settings for MT4

By activating the indicator, as described above, a settings window with tabs appears:

  • About the program.
  • Are common.
  • Input parameters.
  • Colors.
  • Levels.
  • Display.

I will briefly discuss each tab.

About tab

The title page of any indicator. On this page we can see the name of the indicator, the development version and the contact information of the programmer (if they are indicated in the code).

General tab

On this tab you are prompted to select:

  • Allow DLL import;
  • Allow the import of external experts;
  • Allow changes to signal settings.

Input Parameters Tab

For each indicator, the developer creates its own input parameters. Here you can list various values ​​used in indicator calculations, enable or disable this or that feature (for example, should you use Alert?), edit the colors of the lines used in the Chart window, and much more that can help you configure the indicator correctly.

In addition, using the “Load” button, you can set previously saved settings, which are saved in a file with the .set extension.

Colors tab

In this tab, you can configure the colors of the indicator lines used in the additional Chart window.

Levels Tab

For additional window Chart, we can add different quantity levels used, if required.

Display tab

And the last thing is the display of the indicator on different timeframes. We can select only those timeframes where we want to see our indicator; on disabled ones, the indicator will not be displayed.

This section discussed the settings of the Scalper Dream and RSI indicators, which means that the settings of your indicator may be completely different. I wanted to show the principle of the settings, you can figure out the rest yourself.

I repeat, for each indicator, the developer creates his own own settings. With some delays, experienced traders will be able to figure out the existing settings, but it is better not to worry about it, but to immediately contact the developer and ask them to tell them what and how it is configured.

Let me sum it up

And so, we discussed in detail full procedure installation of indicators in the MetaTrader 4 platform. Now you know what extension each downloaded indicator file comes with and what it is responsible for. We looked at which folders and which files need to be installed.

The simplest thing left is to find or order the indicator you are interested in and start using it.

By the way, I have a friend who creates advisors, indicators and scripts. I’m trying to persuade him to run a column dedicated to MQL programming, but so far it’s all in vain. If anyone needs it, write to Feedback, I’ll try to connect you (in general access I won’t post my contacts).

That's all. I hope the article will be useful to you and answer many of your questions. If everything is clear, go to the “Indicators” section, choose the one you like, install and use it. Until new articles and good luck in trading.

As well as other types of trading directly or indirectly using the Meta Trader 4 trading platform, include indicators that are not included in the standard package of the specified terminal. They are usually attached to the copyright in the form separate archive, which after downloading must be correctly installed in the trading platform that is installed on Personal Computer. And now we will take a detailed look at how to install indicators in MT4.

Installing indicators in MT4

So, in order to use indicators for MT 4, the specified trading terminal must be installed on your personal computer.

In order to install indicators in your MT4, you need to do the following:
1. .
2. Unpack the downloaded archive into a separate folder. At the same time, indicator files can have the extension: ex4 and mql.
3. Next, these files must be copied to the appropriate directory of the Meta Trader 4 program installed on your PC. This is done like this:

In order to go to the MT4 data directory, you need to inside the interface the specified program open the “File” menu item, in which find the “Open data directory” item

How to install an indicator in MetaTrader 4. Open the data catalog.

After opening the directory, you need to find the “MQL4” folder, and inside it the “Indicators” directory. This is where we copy all the indicator files with the extension ex4 and mql.


Find the MQL4 folder and open it.
In the MQL 4 folder, find and open the Indicators folder.
Copy the indicators selected for installation to the Indicators folder.

After this we go to internal interface Meta Trader 4, on top panel platform, click on the “Tools” menu item, select the “Settings” section there, and selecting the “Advisers” tab, check the boxes, as shown in the screenshot. Next, click “OK”.


Settings.

4. Now, in order for the installed indicators to be available for selection and use in Meta Trader 4, the specified terminal must be restarted.
5. After restarting MT4, open the quote chart of any currency pair where you plan to use the custom indicator you installed. After that, at the top of the platform, click on the “Insert” menu item, select the “Indicators” section there, the “Custom” subsection and select the installed indicator.


6. Immediately after this, a window will appear in which you can manually change the parameters of the selected indicator, its display color, levels, as well as its display on timeframes. After entering the data or after you decide to leave them as default, click the “OK” button.


7. After clicking OK, the selected indicator will appear on the quote chart and will be ready for use.

In order to remove indicators for MT 4 from the asset chart, or make changes to their settings, press the combination on the keyboard Ctrl keys+I. After this, you will see a window and a list of indicators installed on the quote chart.

After this, you need to click on the name of the indicator, and using the keys on the panel of the window that opens, delete the selected indicator or implement it additional settings(done through the “Properties” button).

The MetaTrader5 terminal is slowly but surely replacing MetaTrader4. To some extent, this trend is supported by the MetaQuotes company itself, which increases the cost of the licensed “four”, but one cannot ignore the fact that any software is gradually developing. Against this background, traders are increasingly asking the question: how to add an indicator to MT5?

First of all, I want to remind you one important nuance- the programming language in which all MetaTrader5 applications are created differs from the MetaTrader4 language, although to a non-professional it may seem that their operators and variables are identical.

This means that only those indicators that have the mq5 or ex5 extension are suitable for installation in MT5, and all algorithms with mq4/ex4 formats will have to be rewritten again.

But let's get back to the topic. Let's assume the user has already installed MetaTrader5 and opened . How to add an indicator to MT5?

What you need to do to add an indicator to MT5

In order for everything to work out the first time and without errors, the first thing you need to do is find the folder on your hard drive where the algorithms are loaded. To do this, go to the “File” program menu and select the “Open data directory” command there.

This action will open the main folder, which contains the main working modules. As a rule, during the terminal installation process it is automatically created on system disk, so finding it manually is almost impossible.

Next, you need to open the “MQL5” directory. From its name you can already guess that all files related to the programming language of the same name are collected here, and the “Indicators” folder already gives an unambiguous hint on what to do next.

And here I want to immediately warn beginners against rash actions. The fact is that the answer to the question “how to add an indicator to MT5?” depends on the set of source documents that were received from the application developer or downloaded from the Internet.

In particular, the following formats can be added to mq5/ex5 files:

  • txt, csv, xls, etc. - these are various text notes and tables from which some experts read information;
  • mqh are so-called "include files", they are often used to protect the source code and make it more representative;
  • dll - libraries, content information various functions, both custom and standard.

Thus, if a trader only has in stock base file mq5/ex5, it should already be clear how to add an indicator to MT5 - just copy it to the “Indicators” folder.

Additional files for added MT5 indicators

If the archive contains additional files, they need to be distributed into appropriate subcategories.

After copying, the MetaTrader5 terminal should be restarted. This operation necessary for the built-in compiler to generate necessary objects and brought the new expert into the “navigator”.

By the way, since the word “compiler” was mentioned, I would like to remind you of one feature of Expert Advisors written in the MQL5 language. As everyone remembers, they come in two types - mq5 and ex5.

The first ones are source, i.e. they can be modified, improved, supplemented auxiliary functions etc. They are of particular value to the user, as they literally “free their hands.”

But the second format is nothing more than a compiled mq5 file, i.e. This ready-made program, which can no longer be changed. Thus, if a trader only has ex5 at his disposal, he may encounter the following problems:

  • The indicator will sooner or later stop working correctly, as MetaTrader developers periodically make changes to their platform;
  • The user simply will not be able to evaluate the formula on the basis of which the algorithm bases its calculations;
  • Very often problems arise with automation, i.e. It is better to create an auxiliary advisor that reads algorithm signals based on the source code.

The indicator did not appear in the MT5 navigator?

Beginners also often ask, how to add an indicator to MT5, if after installation it does not appear in the navigator? Unfortunately, this situation indicates that a critical error occurred during the compilation process, due to which the program was unable to convert mq5 to ex5.

To eliminate any doubts, you can even manually see where exactly the problem appears. To do this, you first need to double-click on the indicator name with the left mouse button. As a result, the MetaEditor should automatically launch.

Please note - in the top panel of this window there is big button"Compile". To search for a failure, simply click on it and wait for a reaction.

In my example, the editor found one critical error, located at line 165 of code. It is this that prevents the compiler from converting the “source” into required format, so then there are two options - to solve the problem yourself, or to ask programmers to help with the misfortune.

And since we are talking about failures in the operation of installed algorithms, I would like to remind you of one detail - if the kit includes a library, you need to allow DLL import in the MetaTrader5 settings.

In principle, users quickly figure out how to add an indicator to MT5, i.e. possible problems, which I talked about today, bypass many traders, but, as they say, forewarned is forearmed.

Many novice traders face serious problems in the process of installing various tools in MetaTrader 4 to assess the situation on the market. So we'll talk about how to install an indicator in MT4 and we will analyze this process in detail.

The MetaTrader 4 trading platform initially integrates a set of tools for conducting market analysis. Today on the Internet you can find a huge number of tools that are more effective than those pre-installed in the platform.

In order to use indicators that are not included as standard on the trading platform, they must first be installed in MT4.

Finding it on the Internet is not difficult. Traders on thematic websites and forums are offered both paid and free tools.

The process of installing indicators in MT4

Before as install indicator in MT4, you must first download it. After you download the appropriate tool, you need to launch the trading platform and open it root folder: "File" - "Open data directory" (look at the illustration):


After completing the action described above, the MT4 data catalog will open in front of you. Next, you should open the folder called "MQL4".



Then you need to open the "Indicators" folder and copy the indicator file into it.



At the final stage, you need to restart your trading platform.

How to run an installed indicator in MT4

There are two methods for activating installed indicators. First, you need to launch MT4, select the appropriate currency pair and time interval.

To activate an instrument, you need to move it from the “Navigator” window to the price chart, as shown in the following picture.



Here are reviews of two interesting indicator strategies:

Also run installed tool you can by visiting the directory "Insert" - "Indicators" - "Custom". Activating the indicator using this method is shown in the following picture.




After installing the tool, you will be able to see a window with its settings, which you can make changes to if necessary. After completing the process of setting up the algorithm, you need to click on the “Ok” button and it will begin to function.

Now you know how to install the indicator in the MT4 terminal in a few seconds, find it in the list of instruments and transfer it to the desired price chart.

An indicator is a tool necessary to carry out technical analysis. Its use is relevant on all platforms that provide the opportunity to become a participant in online trading. Of course, the functions of the indicator will change depending on the nature and nature of the investment sphere. For example, let's take Forex.

The platform provides that the trader will open orders, and then calculate how many points the transaction will move up or fall down. As you understand, to determine the exact and effective indicators, you need to conduct a thorough technical analysis, of course, in such a situation you cannot do without an indicator.
No less popular is the market binary options, which in a short period of time managed to significantly increase its customer base.

First of all, this is due to the fact that sites offering the opportunity to invest online by making forecasts have always differed from Forex in their simplicity and accessibility. Do not think that trading binary assets is a walk along a sunny alley, at the end of which you will be given a bag of money, it is by no means a very labor-intensive job, but in comparison with other types of online trading it is more understandable and down-to-earth.

Regarding the interaction of indicators and binary options, everything is simple, with the help of these tools, you will be able to track the development of the value of the selected asset, and as a result, based on the information received, you will make a decision regarding the purchase of a Put or Call asset. In addition, indicators will be able to measure the specifics and dynamics of a trend, which is also important in the field of binary options trading.

Why is it necessary to download indicators in MT4?

Earlier, we established that a modern trader cannot do without indicators, but we didn’t say a word about MT4, what is it? MetaTrader 4 is one of the most popular trading terminals, used to work with binary options, Forex and many other platforms. As soon as you download MT4, you will see that initially in this program a whole set of indicators has been integrated, on the basis of which you can build your trading system.

However, tools for technical analysis tend to age and lose their relevance, just like any other program, and therefore there is a need to regularly update the tools by installing the indicator in MT4.

In addition, the trading terminal contains exclusively user programs, that is, a kind of unspoken standard; of course, a trader can buy or find for free any instrument that is not included in the list basic indicators, so he will again face the problem of installing the indicator in MT4. As you can see, the ability to correctly add instruments to a trading terminal is a highly sought-after skill that every self-respecting trader should master.

Alternative trading terminals

Despite the fact that MetaTrader is the undisputed leader in terms of demand from traders, there are many alternative trading terminals, which, in general, are not much inferior to the titan of online investing.

Today, many binary options brokers can offer their clients multifunctional and innovative platforms that suit all existing standards. Actually, we’ll talk about them now.

The developers of 24 Option managed to create a truly spectacular and effective trading terminal. Exquisite design, good response to trader instructions and high profitability are not a complete list of the advantages of this site.
The Grand option broker also offers a very good trading terminal that will fully meet all traders’ expectations.

How to add an indicator to MT4: step-by-step instructions

One way or another, MT4 is the most popular, so now we will step by step analyze the process of integrating the indicator into this trading terminal.

1. Initially, you need to find and copy the indicator file that you want to add to the platform, its icon looks like this.

2. Afterwards, open the trading terminal and select navigation bar the File tab, and then the open Data Folder function.

3. In the opened Data folder Folder we need to find a file with the MQL4 extension.


4. Open the folder with indicators and select our tool, go into the folder and select all the files.


5. Insert the files into the trading terminal, and then restart MT4.

As you can see, installing an indicator in MetaTrader is quite simple; for this you need to carefully follow the instructions above, and then, of course, everything will work out for you.

If, after reading the information, you still do not understand how to install the indicator in MT4, then you need to watch the introductory video, which details the process of updating the tools.