Once you have the strategy, the next step is to deploy it live in the trading platform. This guide provides simple, step-by-step instructions to help you set up and run your trading strategies in MT5.

Step 1: Copy Indicators to the MT5 Folder

  1. Locate Indicator Files: Find the .mq5 files for the indicators you need to use. You can download these files here.
  2. Open MetaTrader: Launch your MetaTrader platform (MT4 or MT5).
  3. Open Data Folder:
    • In MetaTrader, go to File > Open Data Folder.
  4. Navigate to Indicators Folder:
    • In the Data Folder window, navigate to MQL4 (for MT4) or MQL5 (for MT5), then open the Indicators folder.
  5. Copy Indicator Files:
    • Copy the .mq5 indicator files to the Indicators folder.

Step 2: Copy the Strategy to the MT5 Folder

  1. Locate EA Strategy Files: Find the .mq5 files for the EA strategy you want to use.
  2. Open MetaTrader Data Folder:
    • Follow the same steps as above to open the Data Folder.
  3. Navigate to Experts Folder:
    • In the Data Folder window, go to MQL4 (for MT4) or MQL5 (for MT5), then open the Experts folder.
  4. Copy EA Files:
    • Copy the .mq5 EA files to the Experts folder.

Step 3: Compile the Strategy and Indicators

  1. Open MetaEditor:
    • In MetaTrader, go to Tools > MetaQuotes Language Editor or simply press F4.
  2. Compile Indicator Files:
    • In MetaEditor, navigate to the Indicators folder, select all .mq5 indicator files, and click the Compile button (or press F7). Ensure there are no errors in the compilation.

3. Compile EA Strategy File:

  • Open the .mq5 file of your EA strategy and click the Compile button (or press F7). Again, ensure there are no errors in the compilation.

4. After compilation, there will be both .mq5 and .ex5 files in the respective folders.

Step 4: Refresh MetaTrader 5

  1. Refresh Navigator:
    • Go back to MetaTrader 5.
    • In the Navigator window, right-click and select Refresh to update the list of available indicators and EAs.

Step 5: Enable Auto Trading

  1. Enable Auto Trading Globally:
    • In MetaTrader, ensure that the Auto Trading button on the main toolbar is enabled. The button should be green. If it’s red, click it to enable auto trading.
  2. Configure Auto Trading Settings:
    • Go to Tools > Options (or press Ctrl+O), and then navigate to the Expert Advisors tab.
    • Check the options Allow automated trading and Allow DLL imports. Make sure to configure any additional settings according to your preferences.

Step 6: Insert the Strategy into the Chart

  1. Open the Desired Chart:
    • Open a chart for the currency pair or financial instrument you want the EA to trade on.
  2. Add the EA to the Chart:
    • In the Navigator window, under Expert Advisors, find your EA.
    • Drag and drop the EA onto the chart, or right-click on the EA and select Attach to a chart.

3. Configure EA Settings:

  • A settings window will pop up where you can configure the parameters of your EA. Adjust the settings according to your strategy’s requirements.
  • Ensure that the Allow live trading option is checked in the Common tab.
  • Don’t forget to set the lot size – trade volume based on your account size.

4. Confirm and Start:

  • Click OK to apply the settings. The EA should now be active on the chart.
  • You should see a smiley face icon in the top right corner of the chart if the EA is running correctly. If there’s a sad face, recheck your settings and auto trading status.

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