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Use Expert Advisor (EA)

In MetaTrader5 (MT5), you can use an automated trading program called Expert Advisor (EA). When using an Expert Advisor (EA) from an external source, you must first install it on MT5. Here we'll take a look at how to use an Expert Advisor (EA) that's been installed on MT5. Expert Advisor (EA) is available from the menu or Navigator.

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

 : 2022.09.23

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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