How to Install MQL4 Experts Advisors, Indicators and Scripts

Build 600 of MetaTrader 4 was a huge leap forward and has offered a great deal of improvements and benefits to the MQL4 coder, but it comes at a price.

Many users are confused initially and have a hard time navigating around the new interface and finding exactly where to install their expert advisors, indicators and scripts.

 

The next thing to understand is Margin. But forget about all the confusing terms such as Used Margin, Usable Margin, etc. All you need to know is:

Read more at: http://www.automatedtradingsoftware.com/blog/mql-programming/adding-margin-management-to-risk-management-part-2/ | Automated Trading Software

The folder structure of previous versions of MT4 was much more intuitive and followed the familiar pattern of C:\Program Files\MT4 etc. With Build 600 that  was all changed and the folder structure is slightly more complicated but if you know how to navigate it, it’s  almost just as simple.

 Locating Your Data Folder

Just to make things even more confusing there are actually two locations for EA’s and indicators but we’re only interested in one of them. I’m sure that MetaTrader had to do this to accommodate both MQL4 and MQL5, but again, it’s not that big of a deal once you get used to it.

The most important folder is your ‘Data Folder’ and it’s really the only one you should be concerned about when it comes to your EA’s, indicators and scripts.

To locate your Data Folder all you need to do is open up your MT4 terminal and look to the left of the top of the screen. You’ll see the ‘File’ navigation and if you click it a sub menu will appear.

On that menu you’ll see a link entitled ‘Open Data Folder’ and if you click on it a new window will open that should look somewhat familiar to you.

You’ll notice a folder called ‘MQL’ and if you look inside you’ll see various folders such as ‘Experts’, ‘Indicators’, ‘Scripts’ etc.

These are the folders that you need to place the various items. So you’d put EA’s in the ‘Experts’ folder, indicators in the ‘Indicators’ folder and so on.

Video Walk-through

Once you get used to the new folder structure it’s all pretty straight forward and you’ll have no problems in the  future.

Hopefully the explanation above was clear enough but if you’d like to see a video walk-through that I did for a client then you can watch the video below.

 

Category: TIPS

How to Install MQL4 Experts Advisors, Indicators and Scripts

Build 600 of MetaTrader 4 was a huge leap forward and has offered a great deal of improvements and benefits to the MQL4 coder, but it comes at a price.

Many users are confused initially and have a hard time navigating around the new interface and finding exactly where to install their expert advisors, indicators and scripts.

5 Forex Mistakes You May Be Making

No matter how long you’ve been trading or how successful you think you are, it’s possible that you’re still making some basic mistakes and don’t even realize it.

Take a look at the 5 most common Forex mistakes that traders make and see how many of them you’re guilty of. You might be surprised and who knows, you may even re-think the way you trade.

Improved Input Settings in MQL4

I choose to see the changes as a good thing and as a simplified transition from MQL4 to MQL5, or a mixture of the two. If you want to continue to code in ‘old school’ MQL4 then you’re free to do so, nobody is forcing anybody to change the way they work to any large degree.

Category: FAQ

Easily and intelligently create a stock trading strategy

There should be a step-by-step guide to show novice traders how to create a trading strategy. Are there off-the-shelf strategies that are available for your use? Are there any fees involved or are they offered for free? Can you modify the off the shelf strategies?

Simulate strategies in real time before running live

Most traders would agree that they'd like to "test drive" a system before using it. Some programs allow this through "back-testing," in which the program uses historical data to execute the trades and show you what they would have been.

Have one long and one short strategy per account

Due to the size of the online trading platform, there may be a limit to the number of strategies that you can have loaded on each account. For example, if you want to run two long trading strategies, you may need two accounts.