How to run an advisor?Monday, 3 July 2017 09:01
An expert advisor, otherwise known in the Forex world as an EA, is a program that you install onto the platform. It will automatically follow a trader’s instructions once certain criteria are met. With an advisor, you can replicate the actions required once your system signals. Also, advisors based on received signals can issue commands for the execution of trading operations and manage open positions. Advisers, as a rule, are entrusted with all routine work on technical analysis and trading activities.
So, after you have downloaded and unpacked the archive with the trading robot, you can start installing it. To do this, you need:
- Copy the file (extension *. ex4 or * .mq4) to the "Experts" folder of the MT4 platform. The approximate path is C: / Program Files / MetaTrader4 / experts.
- Reload the MT4 trading terminal. Open the window of the currency pair on which you need to install an advisor.
- Go to the menu "Tools" → "Settings" → "Expert Advisors" and tick "permissions."
- In the menu, select the option "Navigator" → "Expert Advisors" and drag the Expert Advisor to the currency pair chart.
- After the Expert Advisor has moved to the graph, a window appears that displays the input parameters. You can modify them manually, or set the settings from the set-file (download button, then specify the path to the configuration file).
- Click "Ok." The advisers are activated.