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Using Expert Advisors (EA)

Written by Jerome

If you prefer to set up automated actions within your trading platform, Expert Advisors (EAs) are for you.

EAs may automate trading, but the strategies implemented should be understood before use. Due diligence is recommended when installing and using EAs.

What is an EA?

An EA program runs within a trading platform to monitor and automatically carry out trading actions without direct input. During installation, a user must set specific criteria (trigger alerts, notifications etc.) that result in trading actions on market conditions the EA is programmed to track.

EAs are programmed in MetaQuotes Language 4 (MQL4) or MetaQuotes Language 5 (MQL5) to work with MT4 and MT5, respectively.

To ensure your EA works:

  • Only desktop trading terminals for MT4 and MT5 support EA; they do not operate on mobile or web versions.

  • If your EA is disabled, it may be caused by one of the following reasons:

    • Low balance. Your trading account does not have enough funds to meet the minimum requirement.

    • The EA settings are too aggressive. This can overload the terminal with excessive submissions and irrelevant requests. Ensure the settings are appropriately configured to avoid overwhelming the system.

If your EA is ever disabled and cannot be manually enabled, please open a ticket in the Support Hub for assistance and reactivation.

Setting up EA

  1. Download EAs from the MQL Community, MetaTrader’s official sources.

  2. Log in to your respective MT5 trading terminal.

  3. Open File > Open Data Folder, then find and copy the downloaded EA files to the following path: MQL5 > Experts.

    • If any EAs require libraries (.dll files) or settings (.set files), copy them to the corresponding folders: MQL5 in Libraries and MQL4/5 in Settings. If necessary, EAs will direct you where to place additional files.

  4. Next, restart the trading terminal.

  5. Open Tools then Options and then navigate to the Expert Advisors.

  6. Tick Allow algorithmic trading, then click OK.

    • Also, tick Allow DLL imports and/or Allow WebRequest for listed URL if you know your EA requires .dll file capability and/or a connection to a specific URL. Please be sure of your EA’s requirements, as they may vary on which permissions are required to run.

  7. Next, in the Navigator window:

    • For MT4: Expand the Experts Advisors entry by clicking the + symbol .

    • For MT5: Click Expert Advisors and then Advisors.

  8. Locate your EA. Click and drag it onto the preferred instrument chart window to bring up any preferences your EA allows. Once done, click OK.

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