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The simplest way for beginners + BEST TIPS!
Installing an EA on MetaTrader 4 (MT4):
0. MUST Protect your Trading --> https://www.mql5.com/en/market/product/94887- Download the EA:
- Download the EA file (usually with a .ex4 or .mq4 extension) from a reliable source.
- Locate the "Experts" Folder:
- Open your MetaTrader 4 platform.
- Click on "File" in the top menu, and then select "Open Data Folder."
- Inside the data folder, you'll find a folder named "MQL4." Open it and then go to the "Experts" folder.
- Copy the EA File:
- Copy the downloaded EA file into the "Experts" folder.
- Restart MetaTrader 4:
- Close and restart your MetaTrader 4 platform.
- Enable Automated Trading:
- Make sure automated trading is enabled. You can find this option under "Options" > "Expert Advisors" in the platform settings.
- Attach the EA to a Chart:
- Drag the EA from the "Navigator" panel onto a chart. You might need to set some parameters depending on the EA.
- Check for Smileys:
- Look for smiley faces in the top-right corner of your chart. This indicates that the EA is active.
Installing an EA on MetaTrader 5 (MT5):
- Download the EA:
- Download the EA file (usually with a .ex5 or .mq5 extension) from a reliable source.
- Locate the "Experts" Folder:
- Open your MetaTrader 5 platform.
- Click on "File" in the top menu, and then select "Open Data Folder."
- Inside the data folder, you'll find a folder named "MQL5." Open it and then go to the "Experts" folder.
- Copy the EA File:
- Copy the downloaded EA file into the "Experts" folder.
- Restart MetaTrader 5:
- Close and restart your MetaTrader 5 platform.
- Enable Automated Trading:
- Make sure automated trading is enabled. You can find this option under "Tools" > "Options" > "Expert Advisors" in the platform settings.
- Attach the EA to a Chart:
- Drag the EA from the "Navigator" panel onto a chart. You might need to set some parameters depending on the EA.
- Check for Smileys:
- Look for smiley faces in the top-right corner of your chart. This indicates that the EA is active.
BEST TIPS FOR BEGINNERS
Check that your Auto-trader is tuned onCheck that the chart is on the time frame as directed by EA
Always test EA on Demo and understand all its functions before risking on a real account
ChatGPT TIPS:
REMOVED
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