Before you load your EA onto the MetaTrader 4 platform, you will need to download the EA to your PC or VPS (Virtual Private Server). If you plan to run your EA on a Virtual Private Server (VPS) for added security, make sure to complete all of the steps below while LOGGED INTO your VPS. Whether you download your EA from an Email or a website, it’s a good idea to have a separate folder on your desktop to easily access your EA. Create a separate folder for your Experts in your Windows Explorer on your PC or VPS. Now you need to save the EA to the folder. To do so, double-click the EA download, or open the attachment (if it is attached to an Email) and the window below will pop up. Once you have downloaded your EA, open the new EA folder that you selected to save the file to. You should be able to see all the EAs that you downloaded when you open your new EA folder in Windows Explorer.
Loading The EA Onto The MetaTrader 4 Platform.
To complete the steps below you must have the MetaTrader 4 platform closed. To load your EA onto the MetaTrader 4 platform you need to move the file into the “Experts” folder under MetaTrader 4 in your program files. We will show you how to do this step by step. You can access this folder using the following commands: click the “Start menu” in the bottom left hand corner of your PC or VPS desktop, click “All Programs” in the start-up menu to show a list of all program downloaded on your PC or VPS, select the MetaTrader 4 program file to view its contents, open the folder labeled “Experts”. NOTE: If this folder does not appear, select the “Journals” folder to access the “Experts” folder. Now when MT4 “Experts” folder is open on your desktop, re-open the folder where you saved your Expert Advisor and move the file. To move the downloaded Expert Advisor into the “Experts” folder within the MetaTrader 4 program file, you can use one of two methods: drag and drop the EA from the new EA folder to MT4 “Experts” folder (keep in mind that this will remove the EA from the new EA folder and you will not have a copy) OR right click the EA and select “Copy” then click within the body of the MT4 “Experts” folder and right click “Paste”. NOTE: If Windows prompts you with any pop-ups when you drag and drop, simply click “Continue”. Close both folders and open your MetaTrader 4 platform software. Once you complete the steps above, your new EA will be loaded onto your MT4 platform. Use the following steps (Part 3) to put your EA to work for you. Your EA will be running automatically updating the data on the time frame of the chart it is loaded on. One thing to pay attention to before loading the EA for live trading is whether you have the data updated on your charts or not. Typically, the Expert Advisor will be basing its entry and exit signals from the historical data on your charts (keep in mind historical data is never an indication of future price). Make sure that your historical data is updated on the chart. To do that, before you add the EA to your chart for the Forex pair you want, click on each time frame. You will see the waiting for update on your screen for a few seconds, once it goes away, the chart is updated and you can add your EA.
You should now be able to see your Expert Advisor in the “Navigator” window in the bottom left hand corner of your MetaTrader 4 platform, shown below (Figure 1): Select the new EA that you loaded into your MT4 platform and drag it onto the chart of the currency pair that you’d like to apply to. The window below will pop up; to have trades executed on your behalf automatically, be sure to select “Allow Live Trading” before clicking “OK”.
Activate and Inactivate EA for Forex Trading.
Your EA is now attached to the currency pair on the chart, but is not ready to place trades yet. In order to activate your EA you must click the “Expert Advisor” button located in the top center of the platform. The button should be shown as a green icon when active and as a red icon when inactive. See images below (Figure 2):
It is also possible to load a second Expert Advisor onto another chart. You can have several robots trading on different currency pairs or even the same currency pair if you follow the next steps. You have already followed the previous instructions to load an EA onto your chart and now you have a single EA running on a single chart. To load the second EA you must first open the second chart window. It is important to note that you cannot run multiple EAs on the same chart. To open the second chart click on the currency pair you are interested in and drag it onto the chart window. Now at the bottom of the chart window you can see two tabs indicating two selected currency pairs. See below for a visual representation of this.
To view both charts at the same time simply minimize each one and size them to fit within the chart window. Below is an example of this (Figure 3):
Since the first EA is running on your original chart (as discussed previously), all you have to do now is to load the second EA. To do this simply click the EA in the Navigator window and drag it onto the new chart. This should be done the same way you loaded the first trading robot. A pop menu will now show up on your screen. Under the common tab make sure to select “Allow live trading.” Once this is complete click the inputs tab to view the different inputs pertaining to your EA.
Make sure that the inputs are all in accordance with what the EA developer has recommended for optimal performance. It is important to note here that each EA has a Magic Number, which can be found in the input section under the term “MAGICNUM”. Make sure that each EA Magic Number is different from one another otherwise the trading robots will not trade appropriately. Simply click in the Magic Number field to override the number that is currently there. Once you have placed your EA on the chart and verified that the inputs are all correct, click “OK”.
You’ll now see the name of the EA in the top right corner of the chart window as shown in Figure 4. If you see “false”, that means that you have not put the information in correctly, to fix it click on the “false”. You should now have multiple EAs running on different charts. You can follow these steps to load as many EAs as you need. Your multiple EAs are now set up!