How to Install an EA in MT4 Basics

Now that you've had some experience with the MT4 platform's indication tools, it's time to move on to the next level of your MT4 training: how to install an expert adviser.

An expert adviser, often known as a “EA” in the forex business, is a program that you install on the platform and that will automatically follow a trader's instructions whenever a certain criterion is reached.

In some ways, it might be referred to as “automatic trading,” because orders are entered without the use of a mouse or keyboard.

The benefit of employing an EA is that if you already have a mechanical system in place, you can use it to create an EA that will repeat the activities once your system has given you a signal.

This is especially beneficial if you prefer to trade many pairs or just don't have the time to trade in front of your computer.

But, before we go into how to install an EA, you should be aware that there are a lot of people out there selling EA programs that may or may not work as stated.

They will claim that their EA method has generated hundreds of pips for them without them having to do anything.

We're not saying it's impossible, but take it with a grain of salt unless they provide you account statements that have been audited by a respected third-party accounting company.

DO NOT be deceived by their glitzy advertising or promises of increased profits!

It would be ideal if you developed the EA yourself. We won't lie: it ain't easy, and you might have to put in some effort to figure it out, but hey, if it were easy, everyone would do it, right？

We strongly advise you to learn and comprehend all features of the Expert Advisor you intend to use.

If the EA is based on moving averages, make sure you understand if it employs simple or exponential moving averages, as well as how many there are.

If it employs Stochastic, make sure you understand how the signals are generated.

Keep in mind that you're giving your hard-earned cash to a computer program.

Step-by-Step Procedures: Putting in an EA

Transferring files is the first step.

• An EA can be created or downloaded. Make a mental note of where you saved it.

• Choose and copy the EA file you want to use.

• Go to the MetaTrader4 folder and look for it. This is typically found on the C: disk.

• Copy the files and paste them into the Experts folder. If a window asking for admin permission appears, simply click Continue.

Installing the EA on the MT4 platform (Step 2)

• Start using the MT4 platform.

• Look for the Expert Advisors section in the Navigator panel on the platform's left side. When you click the Plus symbol, a list of available EAs should appear.

• Drag the EA you wish to install onto one of your platform's charts by clicking on it.

Step 3: Making adjustments to the parameters

• A pop-up box will open, displaying your EA's settings.

• Before selecting OK, double-check that all of the settings and notifications are correct.

Let us remind you once more that you should not rely solely on an EA.

Before investing your money in it, try it out on a demo and learn everything there is to know about it.