How to set up an EA in MT5

Table of Contents

Setting up an Expert Advisor (EA) in the MetaTrader 5 platform is a key step in automating your trading strategy. Follow this step-by-step guide, enhanced with screen shots, to seamlessly configure your EA:

Step 1: Launch MetaTrader 5 Platform

Open your MetaTrader 5 platform and log in to your trading account.

Step 2: Access the “Navigator” Window

Go to Tools -> Options -> ExpertAdvisor tab and  enable Allow Automated Trading, Allow DLL Imports, and add the Prop Quant link:  http://prop-quant.com/  on Allow Web Request for listed URL settings

*This step applies only to users who bought our PQ-VBotMT5!

Step 3: Access the “Navigator” Window

Locate the “Navigator” window on the left side of the platform. If it’s not visible, you can enable it by pressing Ctrl+N or by clicking on the “Navigator” icon in the toolbar.

Step 4: Open the “Experts” Folder

Select “File” from the main menu and click “Open Data Folder”. From here, go to “MQL5”, then to “Experts” and finally to “Advisors”. This is where your Expert Advisors will be stored.

Step 5: Copy or Install Your Expert Advisor

If you’ve received an EA file (usually ending in .ex5), copy and paste it into the “Advisors” folder.

Step 6: Refresh the Navigator Window

Right-click on the “Experts” folder in the “Navigator” window and select “Refresh” to ensure your newly added EA appears.

Step 7: Drag Your EA Onto a Chart

Go to the chart where you want your EA to operate. Drag your EA from the “Navigator” window onto the chart. A pop-up window will appear for you to configure settings like input parameters.

Step 8: Configure EA Settings

Adjust settings such as lot size, stop loss, take profit, and any other parameters based on your trading strategy. Click “Ok” to launch EA.

Step 9: Verify EA Status

Ensure you’ve enabled automated trading by checking the “Algo Trading” button on the toolbar. Check the top right corner of your chart. You should see a blue hat in the upper-right corner, indicating your EA is active and functioning correctly.

Step 10: Monitor the Experts Tab

Navigate to the “Experts” tab at the bottom of the platform to monitor any messages or errors generated by your EA. This tab provides valuable information about your EA’s performance.

Step 11: Enjoy Automated Trading

Congratulations! Your Expert Advisor is now set up and running. Monitor your trades and make adjustments as needed. You’ve just automated part of your trading journey!

Table of Contents

Products

Categories

Tags

Recent Posts

Learn how to code your own Trading Robot using ChatGPT

Subscribe and we will let you know when we’re launching the course ->