The MT4/MT5 trading platform are very versatile, and allow users to add different types of expert advisors and indicators for trading. With the DigitalForex Forex Tools Addon, you get access to many expert advisors and technical indicators which you can download from our website and install them into your MT4/MT5 trading terminal on your Forex VPS. This tutorial explains how to install an expert advisor in Metatrader 4. It is very straightforward, and anyone can complete it.
Step 1: Transferring the files to your Forex VPS
- You find all available expert advisors and technical indicators by clicking on “Forex Tools” in the menu on our homepage.
- Select and download the expert advisor you intend to install on MT4.
- If you browse our website from your home computer and copy/paste it to your Forex VPS by using CTRL+C and CTRL+V.
- On the MT4/MT5 terminal, click on the “File” tab found on the top navigation menu. Then, click on the “Open Data Folder” on the drop-down menu.
Open Data Folder
- If you intend to install an expert advisor in Metatrader 4, double-click on the “MQL4” folder and then the “Experts” folder.
- If you intend to install an expert advisor in Metatrader 5, double-click on the “MQL5” folder and then the “Experts” folder.
- Transfer the copied files by pasting them on the opened folder.
- On the MQL4/MQL5 directory, you can also install indicators and scripts—on their respective folders as indicated below.
Step 2: Install the expert advisor on the chart
- To make sure the robot is available for installation, refresh “Navigator” panel or restart your MT4/MT5 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/MT5 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”.
- You need to complete this step 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, please check the necessary settings before clicking “OK”.
- Usually, “Allow live trading” and “Allow DLL imports” are required for the Forex EA to work. However, each EA can have their 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/MT5 platform. It 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 an expert advisor in MT4/MT5!
What To Do If Expert Advisor Is Not Working?
After completing all the stages on how to install a forex robot in MetaTrader 4, you may still find that your expert advisor not working correctly.
As such, you’ll need to troubleshoot the robot and fix any problem it may be experiencing. Various issues can cause an EA to malfunction.
If your expert advisor is not working, the first thing you should check various parameters.
The following options should be selected (as highlighted earlier):
- “Autotrading” option (showing green color)
- “Allow live trading”
- “Long & Short” positions
- “Allow DLL imports” option (for some robots)
- “Allow import of external experts” (usually optional)
Most of these options are disabled by default. For example, Autotrading is disabled by default for your 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.
Once the option is selected, the robot has the greenlight to do trade decisions without your direct intervention.
Also, you should check for the following error messages:
- Error messages at the “Experts” section at the bottom of the trading platform
- Error messages at the “Journal” section at the bottom of the trading platform
- Error messages due to poor connection between the trading terminal and the broker’s server
- Error messages due to a poor Internet connection
- Error messages due to unauthorized use (“Cannot load …”). You can use the expert advisors and indicators in our Forex tools add-on on your DigitalForex VPS only. It does not work on any other VPS or on your home computer.
If you discover any error messages after completing the process of how to install the forex robot, you should correct them as proper to make sure optimal performance of your robot.
If you look at the error messages keenly, you can find solutions to most of the problems your EA could be experiencing.
The tabs found at the bottom of the trading platform contain various sections that log every action the EA is performing and thus can tell you of any errors.
Your Metatrader terminal logs all expert advisor activity and errors in the “Experts” and “Journal” tabs at the bottom of MetaTrader terminal window. Additionally, all these messages the terminal store in the MT4 log files you can access anytime later should you need to troubleshoot the installed expert advisor.
After you’ve ensured the various parameters are checked and corrected error messages but your EA is still not working, you should re-read the instruction manual and double-check that you followed the stipulated instructions.
Importantly, to make sure the success of the process of how to install forex robot MetaTrader, you should also try restarting your trading terminal.
You can close the MT4 platform and start it again after a few seconds.
This way, the terminal will refresh and pick the latest changes made to it, ensuring peak performance.
If you are experiencing problems, you can ask our technical support.