An expert advisor (EA) is a program that you install onto the MT4 platform that will automatically open trades once a certain setup has been met.
It is called automated trading as you don’t even have to be touching your mouse and keyboard for orders to be entered.
This is useful if you like trading multiple pairs or if you just don’t have the time to be in front of your computer to trade.
Watch the installation video below to see how you need to install a EA.
How to install an EA in your MetaTrader 4 platform.
- Download an EA. Don’t forget the location of where you saved it.
- Select and copy the EA you wish to install.
- Open MetaTrader 4.
- Click on file in the top right corner of MetaTrader 4.
- Click on Open Data Folder
- Open the MQL4 folder
- Open the Experts folder
- Paste the file (EA) into the Experts folder
How to activate the EA on your MT4 platform.
- Look for the Expert Advisors section under the Navigator panel at the left side of the MT4 platform. Click on the + and the EA should be listed there.
- Click on the EA you want to install and drag it onto one of the charts on your platform.
- A pop-up box will appear showing the settings of your EA, make sure that the settings are correct and click OK.