How To Install Expert Advisors In MetaTrader 4
The ability to run expert advisors (EAs) are one of the best things about using the MetaTrader (MT4) trading platform.
While the default MT4 platform runs with basic features that the majority of traders use, it does not support automatic trading or automatic trade modification functions. That's what expert advisors are for.
If you have a non-discretionary trading system, you can get it coded into an EA by an MQL programmer for a relatively low fee.
After adding the EA to your MT4 platform, it will then perform its functions on autopilot as long as the MT4 platform is open.
Expert advisor files are those with the file extension (i.e. file names ending with) .mq4 or .ex4
Once you have an EA file, follow these steps to add it to your MT4 platform:
Open your MetaTrader 4 (MT4) platform.
In the top menu bar, click "File".
Then click "Open Data Folder".
Open the 'MQL4' folder.
Open the 'Experts' folder.
Copy (or move) the Expert Advisor into the 'Experts' folder.
Restart the MetaTrader 4 platform.
At the top toolbar, click the (yellow) Navigator icon.
Under the 'Experts' heading, look for the Expert Advisor.
Drag and drop the Expert advisor onto the price chart, and a configuration window will pop up.
Configure the Expert Advisor and click 'OK'.
If your Expert Advisor is working, you should see a smiley face at the top right corner of the chart, like this:
If Your Expert Advisor Isn't Working...
If the Expert Advisor isn't running, it may be because you have not enabled your MT4 platform to do so.
To fix that, click 'Tools' at the top menu bar, then click 'Options'.
In the options window, go to the "Expert Advisors" tab.
Make sure you check (and uncheck) the options according to this image:
Then click 'OK'.
Lastly, click the "Expert Advisors" button in the top toolbar until it shows a green arrow:
... and your Expert Advisor should now be running!
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