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Use Expert Advisor (EA)

On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can use an automated trading program called Expert Advisor (EA).

Here we will look at how to use an Expert Advisor (EA) on MT4/MT5.

Please note that when using an Expert Advisor (EA) from an external source, you must first install it on MT4/MT5.

Related article: Install Expert Advisor (EA)

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

mt4
mt5

Step 1

In the Navigator, click "+" next to "Expert Advisors". Double-click the Expert Advisor (EA) you want to run, or right-click and select "Attach to a chart".

Run EA from the Navigator Run EA from the Navigator

Or, choose the Expert Advisor (EA) you want to run and drag it to a chart.

Run EA by dragging Run EA by dragging

Step 2

The setting window for the Expert Advisor (EA) will open. Click the "Common" tab.

The Expert Advisor settings The Expert Advisor settings

Check "Allow live trading", configure the "Safety" settings and click "OK".

The Expert Advisor settings 2 The Expert Advisor settings 2

Number

Item name

Descriptions

1

Allow DLL imports

Check this box if you want to allow the use of DLLs.

2

Allow import of external experts

Check this box if you want to allow the use of external experts. It's checked by default.

3

Allow modification of Signals settings

Check this box if you want to allow to change the settings of signals.

point Allow DLL imports when using Expert Advisor (EA) with web authentication

If using an Expert Advisor (EA) that requires web authentication, make sure to check the "Allow DLL imports" checkbox. Expert Advisor (EA) with web authentication limits the Expert Advisor (EA) usage to a specified account number. Refer to the instructions of the EA and allow the use of DLL as necessary.

Step 3

Click the "AutoTrading" button in the toolbar. Once the Expert Advisor is enabled, the icon will change from red to green.

Enable AutoTrading Enable AutoTrading

Step 4

Make sure that the Expert Advisor (EA) icon in the top-right corner of the chart has a smiley face.

Check EA on the chart Check EA on the chart

Step 5

To configure the Expert Advisor (EA), click "Tools" in the menu and select "Options".

EA settings EA settings

Step 6

In the "Expert Advisors" tab, edit the settings and click "OK".

EA settings 2 EA settings 2

Number

Item name

Descriptions

1

Allow automated trading

Allow the use of Expert Advisors (EA).

2

Disable automated trading when the account has been changed

Switching the logged-in account will disable trading by the running Expert Advisor (EA).

3

Disable automated trading when the profile has been changed

Changing the chart profile will disable trading by the running Expert Advisor (EA).

4

Disable automated trading when the chart symbol or period has been changed

Changing the symbol or timeframe of a chart will disable trading by the running Expert Advisor (EA).

5

Allow DLL imports

Allow the Expert Advisor (EA) to use a dynamic link library (DLL).

6

Allow WebRequest for listed URL

Allow access to external websites.

Enter the URL of the website to which you wish to allow access.

point Set the default DLL option

The DLL option for each EA has a higher precedence than the one on the "Expert Advisors" tab. This DLL option is for setting whether the DLL option should be allowed or not by default.

Step 1

Choose Expert Advisor (EA) from the menu

Click "Insert" in the menu and hover the pointer over "Experts". Choose the Expert Advisor (EA) you want to run.

Choose the Expert Advisor (EA) you want to run Choose the Expert Advisor (EA) you want to run

Choose Expert Advisor (EA) from the Navigator

In the Navigator, click "Expert Advisors". Double-click the Expert Advisor (EA) you want to run, or right-click and select "Attach to Chart".

Click Expert Advisors. Double-click the Expert Advisor (EA) you want to run, or right-click and select Attach to Chart Click Expert Advisors. Double-click the Expert Advisor (EA) you want to run, or right-click and select Attach to Chart

Or, choose the Expert Advisor (EA) you want to run and drag it to a chart.

Choose the Expert Advisor (EA) you want to run and drag it to a chart Choose the Expert Advisor (EA) you want to run and drag it to a chart

Step 2

The setting window for the Expert Advisor (EA) will open. Check the "Allow Algo Trading" box and click "OK".

Check the Allow Algo Trading box and click OK Check the Allow Algo Trading box and click OK

Step 3

Click the "Algo Trading" button in the toolbar.

Click the Algo Trading button in the toolbar. Click the Algo Trading button in the toolbar.

Step 4

Make sure that the Expert Advisor (EA) icon in the top-right corner of the chart is now blue.

Make sure that the Expert Advisor (EA) icon is now blue Make sure that the Expert Advisor (EA) icon is now blue

Step 5

To configure the Expert Advisor (EA), click "Tools" in the menu and select "Options". (Shortcut keys: "Ctrl"+"O")

Click Tools in the menu and select Options Click Tools in the menu and select Options

Step 6

In the "Expert Advisors" tab, edit the settings and click "OK".

Edit the settings and click OK Edit the settings and click OK

Number

Item name

Descriptions

1

Allow algorithmic trading

Allow the use of Expert Advisors (EA).

2

Disable algorithmic trading
when the account has been changed

Switching the logged-in account will disable trading by the running Expert Advisor (EA).

3

Disable algorithmic trading
when the profile has been changed

Changing the chart profile will disable trading by the running Expert Advisor (EA).

4

Disable algorithmic trading when the charts symbol or period has been changed

Changing the symbol or timeframe of a chart will disable trading by the running Expert Advisor (EA).

5

Disable algorithmic trading
via external Python API

Disable trading using Python scripts.

6

Allow DLL imports

Allow the Expert Advisor (EA) to use a dynamic link library (DLL).

7

Allow WebRequest for listed URL

Allow access to external websites.
Enter the URL of the website to which you wish to allow access.

point Allow DLL imports when using Expert Advisor (EA) with web authentication

If using an Expert Advisor (EA) that requires web authentication, make sure to check the "Allow DLL imports" checkbox. Expert Advisor (EA) with web authentication limits the Expert Advisor (EA) usage to a specified account number.


Date

Created

 : 2022.09.23

Update

Last updated

 : 2023.03.10

Writer

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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