MetaTrader Indicators User’s Tutorial
This tutorial covers indicator installation for MetaTrader 4. If you need info on how to install MetaTrader 5 indicators, please, read my Indicator Tutorial for MetaTrader 5.
There are many free MetaTrader indicators available
1. Download custom MT4 indicator and save it to the ’indicators’ folder inside the ’experts’ folder inside your MetaTrader’s installation folder:
2. If it’s already compiled (.ex4 file) then fine, if not (.mql file) — double click it with your mouse and it will be opened in MQL editor (this editor is standard for every MetaTrader 4); click the ’Compile’ button at the center top of the editor window — the indicator will be compiled and ready to be attached. There might be some errors or warnings during the compilation, but in most cases there shouldn’t be any. You can try and fix those errors, but usually it takes some time and programming skills to do this.
3. After you get the .ex4 file in your indicators folder (through compilation or download), you can start using it with your MetaTrader platform. All you have to do is to attach it to the chart. If you know what you are doing you might also want to change some of the indicator’s input parameters.
OK. Now you can enjoy your new MT4 indicator and hopefully — better Forex trading results.
Tags: indicators, MetaTrader, MetaTrader indicators, MT4, tutorial
October 22nd, 2008 at 7:52 pm
when i follow these instructions to compile i always get a pop up that says compiler could not be opened. tried with several files and they all do the same thing. Please advise thanks
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October 22nd, 2008 at 10:37 pm
Bob.
What a strange error. Maybe your MT4 wasn’t installed properly. Try re-installing it or download it from a different broker.
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July 4th, 2009 at 4:33 am
pls how long does the compilation process take
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Andrei Reply:
July 4th, 2009 at 8:36 am
Almost instantly.
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July 16th, 2009 at 2:33 pm
is it possible to have a begginer indicator with an alert? your help will be appreciated guys
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Andrei Reply:
July 16th, 2009 at 7:55 pm
Please, ask all Beginner related questions in its dedicated forum:
http://www.earnforex.com/forum/f12/beginner-5/
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August 10th, 2009 at 5:29 pm
You’re confusing people by giving them too much information by telling them they have to install mq4 files and then open the editor and compile them. The platform will do this automatically when the mq4 file is used for the first time.
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Andrei Reply:
August 10th, 2009 at 5:59 pm
Yeah, but if there are compilation errors in the code they won’t even know it.
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September 20th, 2009 at 2:22 am
Compiled a mq4 with no error, but where’s the ex4? don’t see it showing on my custom indicator column?
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Andrei Reply:
September 20th, 2009 at 8:09 am
Did you put it in experts/indicators folder? Did you restart MT4 after compiling it?
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November 2nd, 2009 at 4:33 pm
Thank you for the indicators and the valuable information that you have provided on your website. I tried installation of the fisher indicator you have provided on your website for the MT5 platform, however was not able to get it to work, infact I wasnt able to see it in my Navigator column. Could you please let me know how once installs it on the MT5 platform. Thanks in advance.
PS: I saved the MT5 fisher indicator to the C:\Program files\Metatrader5\MQL5\Indicators\Examples
Am I doing it right or do I need to save it in some other folder
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Andrei Reply:
November 2nd, 2009 at 4:58 pm
For MT5 you have to save Fisher indicator (.mq5 file) into C:\Program files\Metatrader5\MQL5\Indicators\Fisher\
Then restart MT5.
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November 2nd, 2009 at 5:56 pm
Thanks Andrei, got it. Have a great day
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November 3rd, 2009 at 6:20 am
Hi Andrei, I have tried to download the resistance and support indicators.however when ever I unzip the files, I cant open them. it looks like when you have a word document but microsoft office is not installed in your PC. Kindly help me out as I need this very urgently.Many thanks in advance
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Andrei Reply:
November 3rd, 2009 at 9:19 am
You don’t need to open any files. Just unzip them into experts\indicators\ folder of your MetaTrader 4 terminal folder and restart MetaTrader. But, judging from your description (the type of files isn’t recognized), you don’t have MT4 installed. And you won’t be able to use any of MT4 indicators without installing MT4 platform.
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November 15th, 2009 at 10:43 am
It work for me really well,thanks man!
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Andrei Reply:
December 4th, 2009 at 12:44 pm
I am glad that it’s useful.
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February 9th, 2010 at 3:11 am
I followed the instruction and I can see the price alert ea in the navigator box but I cant drag it into the chart to set price alerts, can some one please help me? Not sure If I’m doing it right. Thank you!
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Andrei Reply:
February 9th, 2010 at 8:29 am
Actually you shouldn’t be seeing an EA, because it’s an indicator. Are you sure that you’ve copied it to “experts/indicators” folder of your MT4?
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