{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/install-ea-mt4-mt5\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/install-ea-mt4-mt5\/","headline":"How to Download and Install EA on MT4 \/ MT5","name":"How to Download and Install EA on MT4 \/ MT5","description":"What is a MT4 Expert Advisor – EA An Expert Advisor is an automated trading strategy or a trading robot that automatically buys or sells on your MT4 account according to its algorithm. EA’s are not limited to just automated trading strategies, but they can also be used in automating your trade management system like […]","datePublished":"2019-03-14","dateModified":"2019-03-14","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2019\/03\/mt4-ea-installation-guide.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2019\/03\/mt4-ea-installation-guide.png","height":720,"width":1280},"url":"https:\/\/forexschoolonline.com\/install-ea-mt4-mt5\/","about":["Beginner Trading Lessons","Metatrader | MT4 | MT5 | Brokers","Stops - Profits - Trade Management"],"wordCount":921,"articleBody":"What is a MT4 Expert Advisor – EAAn Expert Advisor is an automated trading strategy or a trading robot that automatically buys or sells on your MT4 account according to its algorithm. EA’s are not limited to just automated trading strategies, but they can also be used in automating your trade management system like our own Forex School Online Trade Manager EA. How to Install Expert Advisor to MT4To manually install an expert advisor or indicator, the process is very simple to follow. Firstly, you want to locate the installation files on your MetaTrader 4 platform and in almost all cases, it\u2019s going to be located in a common location that is under your C drive. These files are often stored in hidden files folder and access to them is very difficult. In order to access the file folder where we have to install different indicators and EAs, we\u2019re going to need to do it directly from the MT4 platform. The fastest way to locate the installation folder on your PC is to go directly into your MT4 platform >> File >> Open Data Folder Different Types of EA FilesIt\u2019s important to note that there are two types of files for an indicator or an expert advisor:The first file is the EX4 file – which is the compiled file and it can\u2019t be edited.The second file is the MQL4 file – which can be edited through Meta Editor. MetaTrader 4 Installation Folder SourceIf you have chosen to install an indicator you will have to go inside the MQL4 >> Indicators folder. If you\u2019re trying to install an expert advisor, you will have to go inside another special location the MQL4 >> Experts folder and copy \/ paste your EA file into the adequate folder. See below; After the installation is completed, you will have to restart your MT4 platform in order for your indicator or EA to be viewable in your MetaTrader 4 platform. It\u2019s important to always restart after installing any expert advisor or indicator so that the MT4 can recognize the file just installed. Running an Expert Advisor – EA in MetaTrader 4Once you have installed an EA it will then be available for your own use in the expert advisors section inside the Navigator window on your MT4 platform. The image below highlights where ‘Expert Advisers’ are located under the Expert Advisors drop down menu inside the Navigator window on your MT4 platform. In order to activate your EA or indicator you will have to drag and drop the expert advisor onto a price chart. Even though there are multiple different ways of activating your indicators or EA’s, such as right click and selecting ‘attach to a chart’ that\u2019s the simplest way. In order to locate the Navigator Window, go to Menu >> View >> Navigator, or you can always use the keyboard shortcut CTRL+N. Once you have located your EA in the navigator window, either drag and drop to a chart or right-click and select “Attach to a chart“.Once the EA is attached to the chart you will be able to see the name of your Expert Advisor at the top right-hand side of the chart which will be followed by a smiley face if working correctly.  Expert Advisor ModesThere are three distinctive modes in which your Expert Advisor can appear on your chart. These are shown with three different emoticons:\u201c X \u201d means that your EA is disabled.\u201c\u2639\u201d means that your EA is enabled, but the option \u201cAllow Live Trading\u201d is disabled or there is another error.\u201c \u263a\u201d is indicative that your EA is enabled and is working properly. How to Use and Manage an EA in MetaTrader 4In order to get your Expert Advisor (EA) working, drag and drop your EA anywhere on your chart. A box will then pop-up with a number of different tabs (About, Common, Inputs, Dependencies) across the top. Make sure that under the Common tab >> Live Trading >> “Allow Live Trading“ is checked. Allow Automated TradingThe next step is to make sure that some other relevant settings under the Menu >> Tools >> Options >> Expert Advisors tab are set properly so that your MT4 platform will allow your EAs to run. Due to safety reasons, the \u201cAllow automated trading\u201d box is disabled by default and we need to enable it. The subsequent two very important options \u201cDisable automated trading when the account has been changed”, and “Disable automated trading when the profile has been changed”\u00a0are also designed to protect your capital in case you switch from one account to another. This function will ensure that all active Expert Advisors will automatically shut down. We recommend leaving these two options ticked. Once the \u201cAllow automated trading\u201d option is ticked your EA is ready to run. Alternatively, you can always turn your EA On or Off by clicking on the \u201cAutoTrading\u201d button in your toolbar. You can also disable all your EA’s by pressing the same button again. Recap on Installing MT4 EACertain EA\u2019s and indicators can be extremely useful and enhance the MT4 platform.These indicators and EA\u2019s can help us manage trades, manage our money, trading risk and even add extra time frames to our MT4 charts. Safe trading,Johnathon Please leave your comments and questions in section below;"}