Expert Advisor MT4: Transforms Your Trading Success

It is easy to use Expert Advisor MT4 (Also known as Robot MT4, EA MT4, etc.) because the MT4 platform supports many experts and MT4 is one of the platforms that started adding EA by metaquotes, so you will find most of the experts support MT4, although metaquotes stopped updating the platform, but it still works with high efficiency with experts

Expert Advisor MT4 Secrets

Expert Advisor MT4

How Expert Advisors Work on MT4

The MT4 platform allows traders to easily add Expert Advisors, providing traders with an automated trading experience without manual intervention.

Experts work automatically without the trader’s intervention, but the expert advisor mt4 must be added first and then Live trading must be activated for the EA to work on the MT4 platform.

Setting Up Your First Expert Advisor on MT4

To start running the expert advisor mt4 on your account, first choose the expert that suits you, then download it to your computer and make sure whether there are DLL files with the expert or not, because there are some experts that do not work without these files.

In order to start running the Expert Advisor on MT4, you must first add it to the platform, Open the MT4 platform, and click on File –> open data folder –> choose MQL4 –> Experts

Then put the expert files there and the same thing When adding the preset files. After you open the MQL4 file, choose presets, Make sure to add all the preset files so that the expert works at maximum efficiency.

After you add the files in the correct place, you will find the expert in the Navigation Tab and this tab will appear when you press Ctrl + N, Then double-click on the expert or drag the expert to the chart to display the expert settings. All experts have their default settings, so some experts do not need to be modified, There’s no need to modify anything, then press Ctrl + E to start live trading (on the demo account first)

Top Features of Expert Advisor MT4

There are many advantages of the MT4 platform, including that it accepts different types of experts and contains many indicators, and there is the ability to add more indicators as well if the trader wishes to do so.

You can test the strategy or Expert Advisor before using it by pressing Ctrl + R and many options will appear. Just choose the Expert that you want to test and choose the pair that you will trade on and the last thing is the time frame then press Start.

Please note that some errors may occur when you test the Expert Advisor because the MT4 platform is no longer updated by programmers, so you may not get accurate results when you test the Expert Advisor, or it is even possible that the expert will not work in backtesting.

EA alerts and notifications

Notifications can be activated in the expert to alert you if the expert enters into a deal. This may help you monitor the expert’s performance over time.

Choosing the Right Expert Advisor for MT4

Choosing the right Expert Advisor for the MT4 platform depends on whether the strategy you want to work on supports Expert Advisor MT4 or not because there are Expert Advisors that only work on the MT4 platform and if you try to use them on any other platform such as MT5, they will not work.

When choosing the right expert for you, you should choose it based on the risk ratio Whether the account will bear these risks or not

Conclusion

The MT4 platform accepts most types of experts because it is considered one of the first platforms added to the Forex market. This platform has many features that traders use to test the expert before activating it on the real account and to test the strategy and indicators as well.