How To Install Expert Advisor In Mt4

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ThisEA is an evolution of our free online tool and the MetaTrader indicator called Position Size Calculator. Position Sizer is available for both MT4 and MT5, but the MT5 version provides slightly better functionality because the platform itself is more advanced.

The main tab of the panel provides the primary control over the EA's functions and serves to output the most important calculation results: the position size, risk, reward, and risk-to-reward ratio. The following controls and outputs are available:

The risk tab can help you assess current and potential risk and reward profile. Using a simple algorithm, the EA calculates the risk of the currently open positions and pending orders based on their stop-loss levels (or lack thereof). It also assesses the potential reward of already opened positions and the position calculated by the expert advisor based on take-profit levels. The employed risk analysis method does not account for complex situations involving hedged orders and positions. You can use the Risk Calculator indicator for a deeper portfolio risk analysis. You can control the Risk tab using three checkboxes and see the calculation results in ten output fields:

The margin tab provides information about the calculated position's margin, amount of used and available margin after opening the calculated position, and the biggest possible position size considering the current available margin and leverage. The tab has only one input and five output fields:

The swaps tab displays details on the overnight interest payments associated with the current trading instrument and calculated position size. It shows swaps type, nominal swaps, daily, yearly, per lot, per calculated position size, and both for long and short positions:

Using this expert advisor is very simple if your main aim is to calculate the position size based on your stop-loss and the current market parameters and then to execute the trade based on that calculated position size.

You can use the position size output of this EA to open trades manually in the same or some other platform. Alternatively, you can use its trading capability to open trades based on the calculated position size and with the given entry, SL, and TP levels. You can either use the Trade button on the Trading tab or the hotkey (set via input parameters). Additionally, you can turn on more trade buttons: on the Main tab and near the Entry line.

Warning! There is a known issue with using the keyboard shortcut in MT4. If either Shift or Ctrl is used and the Ask for confirmation option is turned on, the shortcut stops working after the first time the confirmation popup appears. That is why the default value for the shortcut in MT4 is just "T". This problem is absent in MT5.

Black background color and chart grid do not interfere with the panel as you can see on this screenshot of the Risk tab. The panel is set to a dark mode, to reduce the screen brightness. The risk outputs show Infinity as there is, apparently, a sell order without stop-loss.

Position Sizer is being developed via a dedicated GitHub repository. You are encouraged to actively participate in the improvement of this EA by submitting your own features via pull-requests and by reviewing existing suggestions, changes, fixes, and so on.

The panel's interface can be translated in MetaTrader 5. Currently, there are five language files available in addition to English: Arabic, Chinese (Simplified), Portuguese (Brazilian), Spanish, Russian, Ukrainian. More languages will be added in the future.

It is actually easy to create your own custom translation of the Position Sizer's interface. It doesn't require any coding skills. The translation file consists of just a few hundred terms and phrases.

Most likely, you need to compile it. To do this, left-click it in the list of expert advisors in MetaTrader's Navigator window and press Enter. MetaEditor will open the EA's source code. Now press F7. See the answer to the question above if there are compilation errors.

To help you with the issue, I would need to know what version of the EA you are using, what version of MetaTrader (including the build number) you are using, and also what broker, account type, and account currency you are trying it on. Additionally, please provide the output in the Experts tab of your Terminal/Toolbox subwindow:

The most probable reason for that is that increasing the position size by the minimum possible increment would lead to a position size with a risk greater than the given percentage. The Position Sizer rounds the position size down in such cases, aiming to reduce the actual risk rather than to overshoot the specified value. You can always set the CalculateUnadjustedPositionSize input parameter to true to make the Position Sizer to show the exact calculated position size, but you won't be able to open such a trade with this broker because it won't comply with the broker's restrictions on the minimum position volume step.

You might want to open a trading account with any of the MT4 Forex brokers to use the Position Sizer for MetaTrader 4. If you want to use an MT5 version of the Position Sizer, feel free to open an account with a broker that offers MetaTrader 5 platform.

A trading robot or an Expert Advisor is a strategy whose algorithm is implemented as a code. All operations are automatically performed after you start the robot in the selected terminal application.

Disable automated trading when the account has been changed. This option is the protective mechanism that deactivates all connected EAs. This happens if another account becomes activated in the terminal.

Disable automated trading when the profile has been changed. This option prevents the use of incorrect settings. Information about the current EA configurations is recorded in the profile. When changing the profile, these robots will continue to trade with the first tick. Current EAs from the previous profile will stop functioning.

Note! Only one trading robot can function on one chart simultaneously. If you connect a new EA, the previous one will stop and be removed from the current chart. To run the same Expert Advisor again (but with different parameters), open an additional chart. Repeat the procedure for robot installation.

Each Expert Advisor has an individual set of parameters. It is determined by the program code. So, for example, you can change the lot size. To change the parameter, double-click on its value and choose a new one.

To run several copies of one trading robot with different parameters, it is enough to install it on various charts. Independent copies of the program are created with different parameters. These copies work independently of each other.

Imagine that the same trading account with the running EA is simultaneously opened both on the desktop terminal and on the mobile platform. When one of these terminals is closed, the Expert Advisor will continue to work in the remaining active session.

Note! To make your trading fully automated, run the robot in the trading terminal with a VPS server. In this case, you can open and close any additional sessions. However, the EA will work as usual on the VPS server.

The EA's performance depends on the algorithm efficiency and the accuracy of its software implementation. However, if the strategy is initially unprofitable, then no Expert Advisor can fix this sad situation.

Do you doubt the reliability of the indicator? Want to check if there is no redrawing? Need an expert programmer to develop a custom Forex indicator? We will do it for you! Just fill in a form and get a free estimate of the price and time needed to develop the desired tool.

You shall duly own all intellectual property rights in any object submitted in any form, including but not limited to text, source code, algorithm, scheme, method. It is your sole responsibility to ensure before submitting that the information to be submitted is free from any third-party rights and incumbencies. By submitting the information, you explicitly confirm that you have all necessary rights to use, dispose and transmit it.

Some of the statements provided on the website are based on the hypothetical trading results, that could have certain inherent limitations due to the nature of the hypothetical trading. When analysing the hypothetical trading results you should keep in mind that they are (a) prepared with the benefit of hindsight and (b) do not impacted by the risk of financial loss. You shall not make trading decision based solely on the past performance. The results of the hypothetical trading and testing strategies using historical data may differ significantly from the actual trading results of using the same strategy for real trading due to the impact of numerous real-market factors.

Forex trading is associated with the high risk and may not be suitable for all investors. Trading with high leverage could lead to substantial loss that could exceed the initial investment. Currency prices are extremely volatile and may be affected by various external factors that could not be foreseen or predicted, including financial or political events. Do not invest money you cannot afford to lose. Past performance does not guarantee the same results in the future. You shall assess the risk carefully before making trading decisions. Trading with the leverage increases the risks associated with trading significantly. All the content is provided on the website for the informational purposes only and shall not constitute or be construed as any kind of investment advice or recommendation.

Quick-start your EA creation by selecting one of our templates and have a working EA immediately. Go ahead and try it yourself! Then, start adjusting the EA to match your ideas. Want to start from scratch? Just select the Empty template and add your indicators.

Add standard MetaTrader indicators or search for an indicator in our Web Library. Found your own MT indicator? No problem, upload the Custom Indicator in any MT format, EX or MQL. Then, configure the indicator parameters as you normally do in MT and click Save. Now you are ready to create Trade Signals.

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