How to install advisor in MetaTrader 5
Hello ladies and gentlemen, comrades forex traders! In the article, we will discuss such a topic as installing advisors in the MetaTrader 5 terminal.
For many, advisers (in other words, trading robots) cause an association with some incredible tool that, in the blink of an eye, can make you rich without any special effort.
In fact, an adviser is nothing more than an automatic algorithm. That is, this is the same trading strategy as any other, but all trading actions are performed automatically. You do not need to manually open transactions, an automatic robot does it for you. Of course, a robot can both earn if it is based on a good strategy, and merge if the strategy is not so thought out. Therefore, advisers should be treated in exactly the same way as ordinary manual systems, soberly evaluating exactly the idea underlying the robot.
You can install the advisor in MT5 either from the Market (an online store built into the terminal) or manually by downloading the robot files from the Internet.
Consider both options.
Installation from the Market
In the standard terminal, you already have pre-installed advisers. However, these are just very basic examples, like the same advisor on MACDor Moving Average.
All advisers can be found in the section Advisers in the window Navigator on the left side of the terminal.
There are two ways to install the Expert Advisor in MetaTrader 5. The first method is installation through the Market.
- To do this, in the terminal window, go to the "Market". Market products are sorted into relevant sections:
We are interested in the section "The experts". Who still do not understand, experts are another name for trading robots.
2. When you have selected a suitable robot, click on the advisor icon, then on the advisor page click “Download»To download the robot to the terminal. Before installation, carefully read the description of the robot. The description may include recommendations for testing, suitable characters or time periods.
After you have downloaded the adviser, a new folder “Market“Where all the advisers downloaded from the store will go.
Of course, the probability that you will download the next grail from the Market is zero. Most of the products, both paid and free, are ordinary trash. Therefore, you should not look for a grail in the Market. Nevertheless, installing advisors in this way is quite simple. Clicked on "Download"And the adviser automatically appears in the"Market«.
Installing advisor files
Now consider the situation when you need to install an adviser downloaded from a site or forum, which is located in a folder or archive. As a rule, the archive contains the MQL5 folder and, possibly, an instruction to the adviser. The MQL5 folder itself can contain both the EA itself and indicators, libraries, sets and other files.
The advisor files may already be distributed in folders, or they may simply lie in a heap.
- If the advisor files are already distributed in folders, then go to this folder, select all the contents, copy (drag the mouse, then click the right mouse button -> Copy)
2. Next, you need to open the terminal data directory. To do this, go to MT5, then to File -> Open the data directory.
3. In the directory that opens, go to the MQL5 folder and paste the entire contents of the clipboard there. (Right mouse button -> Paste). We agree to merge folders if the system asks such a question.
4. Next, we reboot the terminal, and the downloaded advisor will appear in the list of advisers in the terminal navigator.
However, not all advisers downloaded from the Internet are sorted into directories.
Just as we did before, open the terminal directory, only in this case we need to distribute the advisor files manually.
First of all, we are interested in the directly executable file of the adviser. In most cases, it will be a file with the name of the adviser with the extension ex5 - this file will be enough to install the adviser in the terminal.
Also, the folder may contain the source code of the adviser - a file with the extension mq5. For the adviser to work, it is not needed, but if the file with the extension ex5 no, the file will do mq5, which when starting the terminal will be automatically compiled into ex5. If there are both files in the folder, then copy two files at once.
Next, paste the copied files into Terminal data directory - MQL5 - Experts - Advisors.
Also, with the adviser, there may be library files with extensions dll or dat. We also copy these files and transfer them to the folder MQL5 - Libraries.
Even with the adviser often come sets of optimal settings in the form of set files (extension set). If such files exist, they can be copied to the folder MQL5 - Presets. If there is no such folder, you can create it manually using the right-click context menu. Create a new folder.
Additional indicators can also be included with the EA. Indicators have the same extension as advisors. These files, if any, are copied to the folder MQL5 - Indicators. Now restart the terminal, and all installed advisers should appear in the corresponding directory of the navigator.
Before starting the adviser, you need to make some terminal settings.
To do this, go inside the terminal to Service - Settings and select the tab "Advisers". Here you need to check the box next to "Allow automatic trading" and "Allow DLL Import". Also, if the adviser needs access to any site, additionally check the box opposite "Allow WebRequest for the following URLs", And enter the address in the field, starting with"//«.
Also, you need to enable auto-trading on the terminal toolbar. Otherwise, the adviser will not trade. Just click on the button to make it green.
Advisor setting on the chart
- We proceed to the installation of the adviser on the chart. First, open the chart of the currency pair you need for the adviser and set the necessary timeframe. As a rule, the description of the adviser indicates the currency pairs on which it works, and a suitable time period.
2. Next, just drag the adviser from the navigator to the chart of the trading instrument.
3. In the window that opens, in the tab "General“, Check the boxes if they are not already installed.
4. In the tab "Input parameters»You can change the parameters of the adviser as you wish. As a rule, here are the settings of the indicators used and money management.
Also, you should set the Magic Number unique for the EA, if such a parameter is available. This allows the adviser to distinguish its orders from orders opened by other advisors. That is, if you want to install two expert advisors on the same currency pair, then you will need two charts, and two expert advisors with different values Magic number. In most cases, this parameter can be left unchanged.
By pressing the button "Download»You can download a set of predefined settings (a file with the extension set) that we installed earlier. Also, you can save your own settings for future use by clicking on the “Save". To reset the adviser to its original settings, click "Reset". After all parameters are configured, click "OK»And the adviser will be attached to the current chart.
5. After that, pay attention to the icon that appears in the upper right corner of the chart. If it is green, then everything is in order and the adviser is allowed to trade. If the icon is red - check the terminal settings (see above)
Please note that the adviser is not required to open orders immediately. Some advisers generally can trade once a week and this is absolutely normal. If indicators were included with the EA, then it is not necessary to put them on the chart. Of course you can do this, but this will not affect the work of the adviser.
But on one chart only one EA can work at a time. If you want to run another one, you need to open another chart for it and repeat the same procedure for installing the adviser on the chart.
Answers to frequently asked questions on working with advisers
AT. I installed the adviser, 2 hours have passed already, but it does not open positions. What's wrong?
ABOUT. It's like that. The EA will open the order when suitable conditions appear. Be patient.
AT. Advisor closed the deal in minus !!! I'm in a panic! Maybe something needs to be fixed in the settings?
ABOUT. Nothing needs to be fixed. Advisor is not a magic machine that knows where the market will go. Negative transactions will be and this is normal. We are interested in the number of profitable transactions exceeding the number of unprofitable ones, and as a result, the robot gives a positive increase in the balance in the account.
AT. Included with the adviser are indicators. What to do with them? Put on a chart?
ABOUT. If the EA uses additional forex indicators, they must be placed in the Data Catalog / MQL5 / Indicators folder. It is not necessary to hang them on the chart; it is enough to attach only one adviser.
AT. Is it possible to run 2 different advisors on one account at once?
ABOUT. Yes of course. A separate window with a chart should be open for each expert, and in no case should they coincide. Magicnumber.
AT. And how to launch simultaneously two terminals of one DC? I want both demo and real trading at the same time.
ABOUT. You need to install the second terminal in a folder with a different name. For example, Metatrader4-2. See here for more details.
AT. Is it possible to trade hands on the account where the adviser works?
ABOUT. Yes. Advisor will not touch your orders.
AT. Can I manually close orders opened by the robot?
ABOUT. You can. But be careful - not all bots perceive adequately manual closing of an order. For example, after you close a trade, the adviser may reopen the same one.
AT. The adviser downloaded, but it is not tested, what's the matter?
ABOUT. If the Expert Advisor has an AutoGmT parameter, you need to disable it and set it manually to work in the Strategy Tester.
AT. Will the adviser work if I close the terminal or turn off the computer?
ABOUT. No. The computer and terminal should work. Alternatively, consider using a VPS server.
AT. And if I restart my computer and open the terminal again? Will the adviser continue to work or should I re-set everything?
ABOUT. In this case, the adviser will continue its work without any problems. But if, during your restart of the computer, a signal appears to open a position, the adviser may skip it, because did not work during the appearance of the signal.
AT. And how can I test the adviser on historical data?
ABOUT. Watch the video tutorial “How to Test an Expert Advisor in MT5”.
AT. I have an account in rubles. What settings to put in the money management advisor?
ABOUT. The adviser does not know what rubles are. He will think that you have dollars in your account and open up large positions. Those. if you have an account in rubles, then do not use automatic money management, only a fixed lot. Or open an account in dollars.