start

Step 1 Register for a Forex account

You can register at the following website:

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Step 2 Installation of Trading Software

Generally, forex trading is done using either mt4 or mt5, who you choose depends on the type of account you sign up for.

Here is the address to download the software:

1. mt4 & mt5

Step 3 Login to your account

Pay attention to the selection of the broker for the corresponding account

Step 4 Install EA or Indicator

Step 4.1 EA Installation Tutorial

Transferring files

1. Develop or obtain an Expert Advisor (EA) and remember the directory where you have stored it.
2. Choose the EA file that you intend to deploy and copy it.
3. Seek out the MetaTrader4 directory, which is typically found on the C: drive.
4. Place the copied files into the Experts directory. If prompted with an administrator permission window, simply click to proceed.

Installing the EA on the MT4 platform

1. Start up your MetaTrader 4 (MT4) application.
2. Navigate to the Navigator panel on the left-hand side of the platform and locate the Expert Advisors section. By clicking on the Plus sign, you can view the list of available EAs.
3. Select the EA you wish to integrate and then drag and drop it onto one of the charts displayed within your platform.

Adjusting the settings

1. A dialog box will emerge, displaying the configuration options for your Expert Advisor (EA).
2. Ensure that all the parameters and notifications are accurate prior to confirming with a click on OK.

Let us reiterate the importance of not employing an Expert Advisor (EA) without due diligence. It is crucial to first trial the EA in a simulated environment to gain a comprehensive understanding of its functions and performance. Only after this evaluation should you consider allocating your funds to its management.

Step 4.2 Indicator Installation Tutorial

In this segment, we will guide you through the complete procedure for downloading and installing custom indicators for the MetaTrader 4/5 (MT4/5) platform. Suppose you are interested in incorporating the Volume Weighted Average Price (VWAP) Indicator into your MT4/5 chart (you can find instructions on its usage here). Since the VWAP Indicator is not included by default in MT4/5 and is not already present on your computer, the initial step is to obtain the indicator by downloading it.

Downloading the Custom Indicator

To acquire custom indicators, you should visit a reputable source such as MQL5 or IndicatorSpot and explore the range of indicators they offer.

Proceed to the search function to locate the specific indicator you are interested in. After finding the desired indicator, select the “download” option. If you are seeking the MetaTrader 4 (MT4) compatible version, look for and click on the “Also available for MT4” button.

Subsequently, store the downloaded file in a directory on your computer that is easily accessible. Be aware that the file may sometimes come in a “.zip” format, instead of the typical “.mql5” or “.mql4” extensions associated with MT4/5 indicators.

Installing the Custom Indicator on MT4/5

With the indicator now downloaded, you are ready to proceed with its installation on your MetaTrader platform. However, before you do that, it’s important to take note of the following:

The installation process for indicators in MT4 and MT5 is quite similar, yet there is a key distinction you should be aware of. Indicators designed for MT5 will have a “.mql5” file extension, whereas those intended for MT4 will be identified by a “.mql4” extension.

Having clarified that, let’s move on to the steps required to install your custom indicator on the MetaTrader platform:

Launch MetaTrader 5 (or MetaTrader 4) on your computer. In the top menu, navigate to ‘File’ and select ‘Open Data Folder.’ This will open the MetaTrader 5 (or MetaTrader 4) data indicators folder.

Next, locate the ‘MQL5’ folder (or ‘MQL4’ if you are using MetaTrader 4) and open it.

Within the ‘MQL5’ directory (or ‘MQL4’ if you are dealing with a .mql4 indicator), you will discover the ‘Indicators’ subfolder. Place the downloaded indicator file into this specific folder.

To finalize the installation, it is necessary to relaunch MetaTrader 4 or 5 so that the platform can acknowledge the addition of the new indicator. Once the indicator files have been successfully integrated into the MetaTrader platform, you can proceed to incorporate it into your chart for utilization. To achieve this, navigate to the “Insert” option located at the top left corner of your MT4/5 interface, select “Indicators,” then choose “custom,” and pick the indicator you’ve just installed. Upon doing so, the new indicator will be displayed on your chart.

Congratulations! You have successfully downloaded and installed a custom indicator on both MetaTrader 4 and MetaTrader 5.