How to setup EA in meta trader
What is Expert Advisor
Expert Advisor is a bot that helps you to submit orders to the forex market. Order submission, order amending, order close and any logic can be automated via Expert Advisor. This is simply called EA. To work with an EA, we need an MT4 account. First of all, you need to create a forex account with any recommended broker. Then you need to create an Mt4 account. To log into the account, MT4 Id, password, and server name are required.
How to set up EA
- First of all, you must download and install MT4 software for your local or host machine. you can get the set up from your registered broker and these are available for windows and mac. To work with EA, your MT4 should be up with the internet throughout the market open time. Otherwise, you might miss some of its actions. So hosting EA in virtual machines is a better option for forex bots. (check how to create VPS: interlink)
2. Then open Mt4 and “Auto Trading” should be enabled to work with EA as shown below.
3. Then go to “file” and click “Open Data Folder”
4. Then, a new window will pop up and go to the “MQL/Experts” directory and copy your expert advisor file into that directory
5. Now, you need to refresh expert tabs as below and now you will see newly added expert advisor file in the experts panel
you can double click or attach to the relevant graph. Then as below, you can change input variables and click “ok” to run the EA file.