PC Use Expert Advisor (EA)
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In 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 window for the Expert Advisor (EA) will open. Click the "Common" tab.
Step 3
Check "Allow live trading" and configure the "Safety" settings.
|
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. |
Allow DLL imports when using Expert Advisor (EA) with web authentication
"If using an Expert Advisor (EA) with web authentication, sometimes you need to check the ""Allow DLL imports"" checkbox. Expert Advisor (EA) with web authentication limits the Expert Advisor (EA) usage to a specified account number.
Also, some Expert Advisor (EA) require an external DLL to enable all features. Since the use of DLL comes with risks, ensure that access is granted only to trusted websites."
Step 4
Click the "Inputs" tab to configure the EA settings, if needed. Once you're done--or if no changes are required--click "OK".
Step 5
Click the "AutoTrading" button in the toolbar. Once the Expert Advisor is enabled, the icon will change from red to green.
Step 6
Make sure that the Expert Advisor (EA) icon in the top-right corner of the chart has a smiley face.
Step 7
To configure the Expert Advisor (EA), click "Tools" in the menu and select "Options". (Shortcut keys: "Ctrl"+"O")
Step 8
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) when checked. |
|
2 |
Disable automated trading when the account has been changed |
Switching the logged-in account will disable trading by the running Expert Advisor (EA) when checked. |
|
3 |
Disable automated trading when the profile has been changed |
Changing the chart profile will disable trading by the running Expert Advisor (EA) when checked. |
|
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) when checked. |
|
5 |
Allow DLL imports |
When checked, "Allow DLL imports" is checked by default in the Expert Advisors settings. |
|
6 |
Allow WebRequest for listed URL |
To allow access to external websites, check this checkbox and enter the URL of the website to which you wish to allow access. Ensure that access is granted only to trusted websites to minimize risks. |
Step 1
Expert Advisor (EA) is available from the menu or Navigator.
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 + next to "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
Once the window for the Expert Advisor (EA) opens, check the "Allow Algo Trading" box.
Step 3
Click the "Inputs" tab to configure the EA settings, if needed. Once you're done--or if no changes are required--click "OK".
Step 4
Click the "Algo Trading" button in the toolbar.
Step 5
Make sure that the Expert Advisor (EA) icon in the top-right corner of the chart is now blue.
Step 6
To configure the Expert Advisor (EA), click "Tools" in the menu and select "Options". (Shortcut keys: "Ctrl"+"O")
Step 7
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) when checked. |
|
2 |
Disable algorithmic trading |
Switching the logged-in account will disable trading by the running Expert Advisor (EA) when checked. |
|
3 |
Disable algorithmic trading |
Changing the chart profile will disable trading by the running Expert Advisor (EA) when checked. |
|
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) when checked. |
|
5 |
Disable algorithmic trading |
Disable trading using Python scripts when checked. |
|
6 |
Allow DLL imports |
Allow the Expert Advisor (EA) to use a dynamic link library (DLL) when checked. |
|
7 |
Allow WebRequest for listed URL |
To allow access to external websites, check this checkbox and enter the URL of the website to which you wish to allow access. Ensure that access is granted only to trusted websites to minimize risks. |
Allow DLL imports when using Expert Advisor (EA) with web authentication
If using an Expert Advisor (EA) with web authentication, sometimes you need to check the "Allow DLL imports" checkbox. Expert Advisor (EA) with web authentication limits the Expert Advisor (EA) usage to a specified account number.Also, some Expert Advisor (EA) require an external DLL to enable all features. Since the use of DLL comes with risks, ensure that access is granted only to trusted websites.
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