PC Use Expert Advisor (EA)
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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.
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".
Or, 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. Click the "Common" tab.
Check "Allow live trading", configure the "Safety" settings and click "OK".
|
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. |
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 Expert Advisor (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.
Step 4
Make sure that the Expert Advisor (EA) icon in the top-right corner of the chart has a smiley face.
Step 5
To configure the Expert Advisor (EA), click "Tools" in the menu and select "Options".
Step 6
In the "Expert Advisors" tab, edit the settings and click "OK".
|
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. |
Set the default DLL option
The DLL option for each Expert Advisor (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 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".
Or, 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".
Step 3
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.
Step 5
To configure the Expert Advisor (EA), click "Tools" in the menu and select "Options". (Shortcut keys: "Ctrl"+"O")
Step 6
In the "Expert Advisors" tab, 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 |
Switching the logged-in account will disable trading by the running Expert Advisor (EA). |
|
3 |
Disable algorithmic trading |
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 |
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. |
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.
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