MetaTrader4 Platform, or simply MT4 Platform, offers an excellent opportunity for Forex traders to try their own trading visions about price analyses by letting them create as well as add Forex indicators into their MT4 platforms. Even if you have never traded on the MT4 platform in the past or you are currently trading with non-metatrader4 platform, you could gain so much from custom indicators.
We will walk you through how you can add Forex indicators into your MetaTrader4 platform.
The ease with which to install indicators in MT4 explains why the platform has gained so much popularity. Also, Metatrader usually comes with own automated trading creator called Meta editor. It is this tool that lets you create your indicators and it also allows you to edit existing files.
Step 1: Open MT4 Platform
For you to add custom indicators onto your MT4 platform, the first thing that you will need to do is to open your MT4 platform. Select the file found on the top right-hand side and then click on Open Data Folder.
Step 2: Choose MQL4 Folder
After selecting this, you will be directed to where you should start installing indicators. Choose the MQL4 folder in the direction to which you will be taken by the platform. The folders contained in the MQL4 folder are listed as follows
Step #3: Select Indicators folder
Since you are installing custom indicators, you will require selecting the Indicators folder and then pasting your file into the folder.
- Check on the local disk of your computer to locate the folder into which you installed the MT4.
- Inside that folder, look for Experts folder within which is contained the Indicators folder.
- Next, have your custom indicators copied into Indicators folder.
- Run the MT4 platform
- Go to insert, Indicators and then to Custom in the platform’s upper menu.
You will see the indicators that you have successfully added.
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