MT4 Components Installation Universal Guide

MT4 Components Installation Universal Guide

Almost all users use the long-outdated MT4 terminal, although there are more up-to-date and efficient terminals already. However, it is hard to give up this habit, since most of the programs, indicators and Expert Advisors are coded exclusively for MT4.

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General File Installation

So, you have a file or an archive. It should be unpacked by placing all the files in the right locations. As a rule, it is enough to unpack the archive into the root folder of your terminal, but the location of some key folders has recently changed, so there is a chance that files will be placed in the wrong locations. We recommend you to make sure that files have been correctly placed or manually place them according to the diagram presented below:

Click “File” – “Open Data Folder” to quickly find the folder of the terminal.

When files have been successfully installed, you should necessarily restart the terminal.

If all the files are placed where they should be, select what you want to install:

 

How to Install and Run an Expert Advisor in MT4

  1. It is necessary to correctly install Expert Advisor’s files; if this is not done, go back to this point.
  2. Open the chart of the selected currency pair and set the desired timeframe.
  3. Find the Navigator. If there isn't, press the key combination Ctrl + N.
  4. Drag the selected Expert Advisor from the Navigator window onto the chart.
  5. In the window that opens, go to the “Common” tab and check the boxes in this way:
  6. Next, go to the “Input” tab and customize the Expert Advisor. If the Expert Advisor comes with a settings file (*.set), you can load these settings by pressing the “Load” button.
  7. Click OK. If everything is done properly, the name of the Expert Advisor with a smiley should appear in the upper right corner of the chart.
  8. It is necessary to enable Auto Trading so that the Expert Advisor can start trading.

To re-open the Expert Advisor’s settings menu or remove it from the chart at all, right-click on the chart and select “Expert Advisors” from the drop-down menu.

 

How to Install an Indicator on the Chart in MT4

  1. It is necessary to correctly install indicator’s files; if this is not done, go back to this point.
  2. Find the Navigator. If there isn't, press the key combination Ctrl + N.
  3. Drag the selected indicator from the Navigator window onto the chart.
  4. Customize the indicator.Depending on the indicator, there may be more or less of such tabs. You can choose the timeframes to display the indicator in the “Visualization” tab. In any case, test all the available parameters.
  5. You need to enable “Allow DLL imports" option on the “Common” tab to make some indicators work.
  6. Click OK. If everything is done properly, the indicator will be displayed on the chart.

To open the list of the installed indicators for their customization/deletion, press Ctrl + I or right-click on the chart and select “Indicators List”.
 

How to Install and Execute a Script in MT4

  1. It is necessary to correctly install script’s files; if this is not done, go back to this point.
  2. Find the Navigator. If there isn't, press the key combination Ctrl + N.
  3. Drag the selected script onto the chart from the Navigator window.Some scripts can be executed without any confirmations immediately after being dragged onto the chart. In other cases, you will see a familiar window showing script settings.
  4. For some scripts to work, you need to click on the checkbox next to “Allow DLL imports” and “Allow live trading” on the “Common” tab. It may be the case that you drag a script onto the chart, but nothing happens. In this case, try to manually click on the checkboxes next to the settings: “Tools” → “Options” → “Expert Advisors”.
  5. Click OK. If everything is done properly, the script will be executed.
  6. Depending on the purpose of a script, you may have to enable Auto Trading.

To remove a script from the chart (it is most often removed automatically), right-click on the chart and select “Remove Script”.
 

How to Install and Activate a Template in MT4

  1. Extract the template files from the archive into the folder of the terminal. Templates often come with various indicators that should also be placed in the right directory. Learn more about the right location of the files in this paragraph.
  2. To install a template on the chart, right-click anywhere on the chart and select “Popular” from the drop-down menu.
  3. Select the required template following which the terminal will be automatically transformed.
  4. Template may include various indicators that require to enable “Allow DLL imports” option to work. To do this, click the key combination Ctrl + O in the terminal window or go to “Tools” → “Options” → “Expert Advisors”.

Should you have any difficulties, write to us – we will resolve them together.