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Install custom indicator

On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can install indicators of your choice aside from the pre-installed technical indicators. The indicators installed by users, or custom indicators are used for chart analysis, changing time zones, and many other purposes.

Here we will look at how to install an indicator on MT4/MT5.

Switch between MT4/MT5 tabs to check the steps for each.

mt4
mt5

Step 1

Click "File" in the menu and select "Open Data Folder".

Open Data Folder Open Data Folder

Step 2

Open the "MQL4" folder.

Open the MQL4 folder Open the MQL4 folder

Step 3

Open the "Indicators" folder.

Open the Indicators folder Open the Indicators folder

Step 4

Save the indicator you wish to install in the "Indicators" folder.

Save the custom indicator in the Indicators folder Save the custom indicator in the Indicators folder
point MQ4 files need compilation

Files with the "mq4" extension are EA source code files. This file can also be stored in a folder, but cannot be used unless converted into an "ex4" file by a process called "compilation". Double-clicking on the file name will automatically launch the MetaEditor, an editing software for MQ4 files, and then you can compile the file.

Note that if you put the MQ4 file in the folder as it is and click the "Refresh" button as in step 5 on this page, the compilation will be performed automatically. However, with this method, any error messages will not be shown in case the compilation fails, so we recommend using MetaEditor to compile the file.

Step 5

On MT4, right-click on "Indicators" in the Navigator and click "Refresh".

Refresh Indicators Refresh Indicators

Step 6

Once the indicator is installed, you will see its name under "Indicators" in the Navigator. Apply the indicator to the chart by double-clicking or dragging.

Apply the indicator Apply the indicator

Step 7

Set up the custom indicator and click "OK". Tabs displayed vary depending on the indicators. The "Inputs" tab is the most common one.

Apply the indicator Apply the indicator

Step 8

The custom indicator will be applied to the chart.

Indicator will be displayed Indicator will be displayed

Step 1

Click "File" in the menu and select "Open Data Folder".

Open Data Folder Open Data Folder

Step 2

Open the "MQL5" folder.

Open the MQL5 folder Open the MQL5 folder

Step 3

Open the "Indicators" folder.

Open the Indicators folder Open the Indicators folder

Step 4

Save the indicator you wish to install in the "Indicators" folder.

Open the Indicators folder Open the Indicators folder
point MQ5 files need compilation

Files with the "mq5" extension are EA source code files. This file can also be stored in a folder, but cannot be used unless converted into an "ex5" file by a process called "compilation". Double-clicking on the file name will automatically launch the MetaEditor, an editing software for MQ5 files, and then you can compile the file.

Step 5

On MT5, right-click on "Indicators" in the Navigator and click "Refresh".

Refresh Indicators Refresh Indicators

Step 6

Once the indicator is installed, you will see its name under "Indicators" in the Navigator. Apply the indicator to the chart by double-clicking or dragging.

Apply the indicator Apply the indicator

Step 7

Set up the custom indicator and click "OK". Tabs displayed vary depending on the indicators. The "Inputs" tab is the most common one.

Set up the indicator Set up the indicator

Step 8

The custom indicator will be applied to the chart.

Indicator will be displayed Indicator will be displayed

Date

Created

 : 2023.03.17

Update

Last updated

 : 2024.06.06

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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