How to Use Expert Advisors – JustMarkets Help Center

Expert Advisors (EAs) are automated programs or scripts that allow traders to execute trades based on pre-programmed strategies and market analysis. With EAs, traders can automate their trading activities, reducing the need for manual intervention and ensuring consistency in executing trading strategies. This is especially useful for traders who want to follow specific strategies 24/7 without needing to be in front of their computers constantly.

Please note that EAs are only available for use on the desktop version of MetaTrader (MT4/MT5) and not on mobile or web-based versions.

If you’ve purchased an EA from the MQL5 Market, here’s a step-by-step guide to installing and using it in MetaTrader:

Step 1: Login to Your Trading Account

Before using an EA, make sure you are logged in to your MetaTrader trading account. If you haven’t logged in yet, go to the “File” menu, select “Login to Trade Account,” and enter your credentials.

Step 2: Open the “Options” Menu

Once you’re logged in, open the “Options” menu. You can do this by clicking Tools > Options in the menu bar or simply pressing Ctrl+O.

Refer to our article on What Are the Tabs Trade, History, Journal, and Navigation in MetaTrader for more insights into navigation.

Step 3: Enable Automated Trading

To allow your EA to function, you need to enable automated trading in MetaTrader. Follow these steps:

In the Options menu, click on the Expert Advisors tab.
Check the box for Allow automated trading (listed as Allow algorithmic trading in MT5).

This ensures that the platform will execute trades based on the EA’s instructions.

Step 4: Login to the MQL5 Community Account

You must be logged in to the MQL5 community account to access your purchased EA.

In the Options menu, click the Community tab.
If you don’t have an MQL5 account, you can easily register by creating a login name, providing your email, and clicking Register.
If you already have an account, fill in your Login and Password, then click OK to log in.

Step 5: Install the EA from the Market Tab

Once logged in:

Navigate to the Market tab located in the Terminal section.
Use the search function to find the EA you purchased.
Click Install to add the EA to your MetaTrader platform.

Step 6: Select the Symbol/Pair and TimeFrame

To begin using your EA, select the appropriate symbol/pair and timeframe for your trading strategy. The EA will analyze and trade based on these parameters, so choose according to your strategy.

Step 7: Attach the EA to the Chart

To activate the EA:

Open the Navigator (CTRL+N) section in MetaTrader.
Find your EA under the Expert Advisors tab.
Drag and drop the EA onto the chart you wish to apply it to.

Step 8: Enable Live Trading

After attaching the EA to the chart, a dialogue box will appear:

Go to the Common tab.
Ensure that Allow live trading is enabled so that the EA can place trades on your behalf.

Step 9: Adjust EA Parameters

MetaTrader allows you to customize your EA’s settings:

Open the Inputs tab in the EA dialogue box.
You can modify various parameters depending on the EA’s design.
Options like loading or saving settings, resetting to default, and configuring specific parameters will be available.
After making the necessary adjustments, click OK to confirm.

Step 10: Check EA Operation

To verify that your EA is operating correctly, look for a smiley face next to the EA’s name on the chart. This indicates that the EA is running and functioning as expected.

Note: If you’ve purchased or developed an EA using another programming language like Python or from a source other than the MQL5 Market, please contact the EA provider for specific installation instructions.

If you decide to stop using an EA or want to completely remove it from MetaTrader, follow these steps: