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Indicator Tutorial for MetaTrader 5

November 26, 2009 (Last updated on December 10, 2013)

This tutorial covers only MetaTrader 5 indicator installation. If you need info on MetaTrader 4 indicator installation, please, refer to my previous tutorial. So, you’ve downloaded some MT5 indicator and have no idea how to install into your trading platform? Read this tutorial to know how.

1. Make sure you have either .mq5 or .ex5 files of the indicator downloaded. You can’t install an indicator before downloading it.

2. Go to your MetaTrader platform’s folder (wherever you installed it; usually, it’s C:\Program Files\MetaTrader 5). If you are using Windows 7, then you should copy your indicators to other location (usually, it’s C:\Users\USER NAME\AppData\Roaming\MetaQuotes\Terminal\MetaTrader 5\MQL5\Indicators).

3. Enter the MQL5 folder:

Enter MQL5 Folder

4. Enter the Indicators folder:

Enter Indicators Folder

5. Now you have two options — either create a separate folder for your indicator or copy files directly into common folder. The first choice is preferable as it will help you to keep the indicators organized. If your indicator came already in a folder, just copy the folder here, otherwise create a folder and copy files there or copy files directly into Indicators folder:

Copy Indicator

6. If you had .ex5 file (compiled indicator) then you can proceed to the next step. If you had only .mq5 and possibly some .mqh files (uncompiled indicator) you can just restart your MT5 platform for automatic compilation, but this way you won’t know if there were any errors in the code (and if there were errors it won’t get compiled). Or you can manually compile it. Double click your indicator’s .mq5 file and the MQL5 Editor window will open. Make sure it’s your indicator opened, click the Compile button and see if there are any error/warning messages in the bottom tab:

Compile MT5 Indicator

7. Now you can start your MT5 (if it’s not already started) and add your indicator to any chart from the Navigator tab (usually on the screen’s left side). Just double-click it or drag-and-drop to the chart:

Add MT5 Indicator to Chart

10. Now you can enjoy your new MT5 indicator and, hopefully, better Forex trading results.

If you liked the tutorial or don’t understand something, or have other problems installing indicators into your MetaTrader 5 platform, feel free to leave your replies and ask your questions via the commentary form below.

52 Responses to “Indicator Tutorial for MetaTrader 5”

  1. tora

    thanks for guiding ,I installed mt5 but sorry to cant get the mean of describe to putting indicator in chart page .
    could u please guide me more clearly to seeing indicator for buing and selling’s poing ?
    thanks a lot

    tora

    Reply

    Andrei Reply:

    Did you read the tutorial above?

    Reply

    Ananth Reply:

    Realllly with this clear tutorial only I was able to include my favy .mq5 indicators for my convenience.Thank you very much and please keep this up for ever.

    Reply

  2. Franky

    Am begining to like this..

    Reply

  3. mark

    can’t open “C:\Program Files (x86)\MetaTrader 5\MQL5\Indicators\S_R\Fractals – adjustable period.ex5″ output expert file 0 0

    Using MetaEditor =>Navigator panel in above folder indicator is not visible…but using windows explorer file is there…so how come is not visible in MetaEditor folder…It should be simple like in MT4

    Reply

    admin Reply:

    Can you send me a link to your indicator? Or at least provide a screenshot of the error and other relevant screens?

    Reply

    mark Reply:

    send me e-mail and I will reply to you with screen shot attachments
    this is message from metaeditor -toolbox-errors:

    can’t open “C:\Program Files (x86)\MetaTrader 5\MQL5\Indicators\S_R\Fractals – adjustable period.ex5″ output

    and as I said using windows explorer I created folder in: MQ5-Indicators and paste indicator….When I open metaeditor I dont see neither new folder nor indicator in that folder…Why?

    Reply

    admin Reply:

    Host both indicator and the screenshots on some file sharing hosting and post the links here.

    Reply

    mjackson Reply:

    would be better if it s allowed to attach here picture or file

    Reply

    admin Reply:

    Unfortunately that’s not possible to do it correctly without ruining the blog with poorly sized attachments. While it’s not that hard to upload an image to http://tinypic.com/ in 3 clicks and copy the link here.

    Reply

  4. Amol Deokar

    Hi,I am getting problem in installing the indicator called pattern recognistion for the candles.As you have told in tutorial i have tried all that options.But the option of compiling, i was not able to open the .mql5 file in the editor…i tried to access but in that location of folder in my laptop editor does not able to access the file.

    below is the link of the indicatior for patern recognition of candle….that indicator i hv downloaded from this link…

    http://www.forexmetatraderindicators.com/category/elite-mt4-indicators/

    so please do experiment on this link indicator for MT-5 and do reply for me…

    Thanking you..

    Reply

    admin Reply:

    I can’t find the “patern recognition” indicator using the link that you’ve provided. Can you, please, post a direct link to the indicator?

    Why can’t you open it in the editor? What did it say? Was the file there?

    Reply

  5. AlexUA

    У меня тоже было такое. На Windows 7 индикаторы добавлять сюда!
    C:\Users\USER NAME\AppData\Roaming\MetaQuotes\Terminal\******************\MQL5\Indicators

    Если они в формате *.mq5 – отркыть в MetaEditor и компилировать.

    Reply

    admin Reply:

    Спасибо!

    Reply

  6. required

    thanks a lot, man!

    Reply

  7. musti1780

    Sir great work it really helps alot

    Reply

  8. Zephyr Trinity

    What I know the main thing that Metatrader 5 and Metatrader 4 have in common is that they are designed to provide brokerage services to customers in Forex, CFD, and Future markets. Aside from that, what else does Metatrader 5 and Metatrader 4 have in common?

    Why do you think Metatrader 5 is very useful to the clients? If you would range from 1-10, where does Metatrader 5 belong?

    Reply

    admin Reply:

    Basically they are very similar. It’s much easier to tell their differences than their similarities. I’d rate MetaTrader 5 at 7 or 8 out of 10.

    Reply

  9. khairuldin

    thank you metaTrader5.

    Reply

  10. Srghio Sharabakin

    Спасибо огромное!!! На других ресурсах провисел пол часа, а тут нашол на английском, и потратил пару секунд, запуск мета и компила))) !!!

    Reply

    admin Reply:

    You are welcome!

    Reply

  11. khaled

    thanks ,man :-)

    Reply

  12. DEBASHIS CHOWDHURY

    good

    Reply

  13. Hayk

    Здравствуйте, как мт4-индикаторы установить в мт5? Спасибо.

    Reply

    admin Reply:

    К сожалению, никак. Нужно почти полностью переделывать исходный код индикатора.

    Reply

  14. Pedram

    Hi,
    I’m trying to install an indicator I’ve downloaded from: http://www.mql5.com/en/code/472
    but while compiling I get following errors:
    http://adc.site40.net/photos/3c6b06952c75.jpg

    Would you help please, I’m a newbie in trading
    Thanks!

    Reply

    Pedram Reply:

    In fact I’ve found out if I copy it to
    C:\Users\user\AppData\Roaming\MetaQuotes\Terminal\D0E8209F77C8CF37AD8BF550E51FF075\MQL5\Indicators
    it will work.

    It seems there should be a way to tell MetaEditor to reload indicators or something like that.

    Reply

  15. bouchoucha mohamed

    pouvez vous svp m indiquer comment placer mes indicateurs mt4 dans mt5 j ai essaiyé mais ca marche pas . y a t il un programme de transformation des indicateurs mt4 en mt5 ?
    merci d avance

    Reply

    admin Reply:

    Sorry, I do not speak French. Is what you ask is how to get MT4 indicators work under MT5? If so, then I must disappoint you. MT4 indicators have to be recoded almost completely to work in MT5.

    Reply

  16. taimoor

    bro i have a MetaTrader 5 plat form i download cci arrows mq5 & copy files directly into Indicators folder after that when i Double click my indicator’s .mq5 file there is no response windows can not open this file windo can go online to look it up automatically or select manual from list . no MQL5 Editor window will open plz guide me what can i do now

    Reply

    admin Reply:

    You probably need to reinstall your MetaTrader 5.

    Reply

  17. anguraj

    sir i want to convert some of mt4 indicators to mt5 anyone help me

    Reply

    admin Reply:

    You can try MQL5 Jobs website for that. Alternatively, you can just post the indicators’ MT4 source code on our forum and, perhaps, someone will be able to help you for free.

    Reply

  18. wzvhyz

    Why does PositionSizeCalculator not show any data in Chart window when Indicator is dragged and dropped from the Navigator?

    Reply

    admin Reply:

    Is there any output to the Experts tab at the bottom of your terminal? Is MetaTrader connected when yoг try it? What version do you use – MT4 or MT5?

    Reply

  19. Javier Teixeira

    Hello admin, I have an error using MT5 in Windows 8, and trying to install the Position Size Calculator.

    I do everyithing as above is shown, I paste PositionSizeCalculator.mq5 into Indicators folder (inside this folder I only see an Examples folder), but when I try to compile, these errors are shown:

    - can’t open “C:\Program Files\MetaTrader 5\MQL5\Indicators\PositionSizeCalculator.ex5″ output expert file (5) 0 0
    - EX5 write error 1 1

    Could you help me to find a solution, please? Thank you very much.

    Reply

    admin Reply:

    Try moving your .mq5 to:
    C:\Users\_your_username_\AppData\Local\VirtualStore\_your_metatrader_\MQL5\Indicators\

    Reply

  20. Winny

    Thank you for the tutorial with screenshots. It really helps

    Reply

  21. Christine Kelly

    Hi, I just dont seem to be able to download and install mt5 indicators to my mt5 platform. I have windows 7 and followed all instructions from your tutorial…… (usually, it’s C:\Users\USER NAME\AppData\Roaming\MetaQuotes\Terminal\MetaTrader 5\MQL5\Indicators
    I cant seem to find the file AppData…after getting as far as my user name…
    your help would be greatly appreciated.
    Best regards

    Reply

    admin Reply:

    You should enable Windows to show hidden files/folders via folder properties.

    Reply

  22. adri

    Thanks I have install it.

    I want to know do you have TTM Squeeze for mt5

    Reply

    admin Reply:

    What is TTM Squeeze?

    Reply

  23. terry

    i downloaded n install indicators on mt 5 bt it says i have to save eur usd n usd jpy n gbp usd n other to get index working how do i save these in market watch

    Reply

    admin Reply:

    I don’t know what do you mean by “saving” them, but adding the currency pair to Market Watch is easy. Right click somewhere in the Market Watch window and choose Symbols, then just add the currency pairs you need.

    Reply

  24. REDISHETTI

    Hello Administrator,

    What is T3-tilson indicator, Where I can find it. If available, will you please send me the same.
    Thanks,
    Pandupr2

    Reply

    admin Reply:

    Sorry, no idea about “T3-tilson” indicator.

    Reply

  25. Daniel

    Great tool but is leverage taken into account with this tool?

    There isn’t a parameter I can see that I can adjust to my accounts leverage.

    Reply

    Andriy Moraru Reply:

    What tool do you mean, Daniel?

    Reply

  26. Daniel

    It was for the Position Size Calculator.

    Reply

    Andriy Moraru Reply:

    No, Position Size Calculator does not need to know your leverage to calculate position size based on your account balance and risk tolerance.

    Your leverage only affects the effective maximum position size you can afford to open.

    Reply

  27. Daniel

    Thanks for the clarification. Not sure why I even thought the indicator needed to know leverage. Brain freeze moment!

    Thanks for the quick replies.

    Reply

    Andriy Moraru Reply:

    That’s quite normal for traders to become confused about leverage/PSC. It was a big confusion for me too when I developed the tool :-).

    Reply

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