An Expert Advisor (EA) is a program that trades on its own inside MetaTrader. What an EA is and what to look for is covered in What is an Expert Advisor?. This guide shows step by step how to install MT5 and safely get an EA you bought or downloaded running.
You need: a Windows PC or VPS, your broker login (a demo account first, ideally) and the EA's .ex5 file, possibly with a .set file. The drawings show the English MT5 interface.
Chapters
- 0:031. Download MT5 from your broker
- 0:102. Install, one folder per account
- 0:163. Log in to your trade account
- 0:234. Allow algo trading in the options
- 0:295. Copy the EA into the Experts folder
- 0:366. Refresh the Navigator
- 0:427. Drag it onto the right chart
- 0:498. Allow algo trading in the EA dialog
- 0:559. Load the settings (.set)
- 1:0210. Switch on the Algo Trading button
- 1:0811. Check that the EA runs
The guide in 11 steps
Step 1: Download MT5 from your broker
Download MetaTrader 5 from your broker’s client area if you can: that installer already knows the broker’s servers. The generic installer from metatrader5.com works too; then you search for the server by name when you log in.
Open drawing full size Step 2: Install, one folder per account
In the setup click Settings and enter a separate installation folder, for example
C:\Trading\Broker-MT5-Demo. For every further account install again into another folder. Demo and live then run separately and never get in each other’s way.Open drawing full size Step 3: Log in to your trade account
Open File → Login to Trade Account and enter login, password and server exactly as they appear in the broker’s email. The server decides demo or live, for example
Broker-DemoorBroker-Live03.Open drawing full size Step 4: Allow algo trading in the options
Under Tools → Options → Expert Advisors tick Allow algorithmic trading. The option Disable algorithmic trading when the account has been changed switches algo trading off when you change accounts. It stops a demo EA from trading live by accident; keep it on if you switch between accounts.
Open drawing full size Step 5: Copy the EA into the Experts folder
Open File → Open Data Folder and go to
MQL5\Experts. Paste the EA’s.ex5file there. If the vendor also ships libraries or include files, they go into the folders of the same name underMQL5.Open drawing full size Step 6: Refresh the Navigator
In the Navigator (
Ctrl+N) right-click Expert Advisors and choose Refresh. The EA then appears in the list. Restarting the terminal does the same.Open drawing full size Step 7: Drag it onto the right chart
Open the chart and timeframe the EA is built for, for example EURUSD H1. Drag the EA from the Navigator onto that chart. If your broker adds a suffix to symbols, such as
EURUSD.raw, use exactly that symbol.Open drawing full size Step 8: Allow algo trading in the EA dialog
Dropping the EA opens its properties. On the Common tab tick Allow Algo Trading. Only enable Allow DLL imports if the vendor requires it and you trust them.
Open drawing full size Step 9: Load the settings (.set)
The Inputs tab lists the parameters. If the vendor gave you a
.setfile, load it with Load and confirm with OK. Then check lots or risk before the EA trades.Open drawing full size Step 10: Switch on the Algo Trading button
The Algo Trading button in the toolbar is the master switch for every EA in the terminal. It must be on (green icon), otherwise no EA trades, even with all the ticks set in the dialogs.
Open drawing full size Step 11: Check that the EA runs
The EA’s name and icon sit top right on the chart; a blue icon means it may trade, a grey one means algo trading is off. In the Toolbox the Experts tab shows “loaded successfully”, the Journal tab shows connection messages and errors.
Open drawing full size
Common errors and fixes
| Symptom | Cause | Fix |
|---|---|---|
| EA icon on the chart is grey, no trades | Algo Trading button off or Allow Algo Trading unticked in the EA dialog | switch the button on, open the EA properties with F7 and tick the box |
| Order fails with “AutoTrading disabled by client” | algo trading switched off in the terminal | as above; switch it on again after an account change |
| EA does not trade, Experts tab reports an unknown symbol | the broker uses a suffix such as EURUSD.raw or EURUSD.m | attach the EA to the chart with the suffix; if the EA has a symbol or suffix input, set it there |
| “Trade is disabled” | logged in with the investor password, symbol not tradeable on this account type, or market closed | log in with the master password, check the symbol in Market Watch, mind the trading hours |
| Experts tab says DLL calls are not allowed | the EA needs a DLL | only for vendors you trust: Allow DLL imports in the options and in the EA dialog |
| Nothing runs after switching accounts | Disable algorithmic trading when the account has been changed switched algo trading off | switch the Algo Trading button on again and check the chart icon |
| EA missing in the Navigator | file in the wrong folder (program folder instead of data folder) or only the .mq5 source | copy into MQL5\Experts via Open Data Folder; compile a .mq5 in MetaEditor first |
What next?
To keep the EA running while your computer is off, it belongs on a VPS: Set up a VPS for MetaTrader. How to choose the risk per trade is in Position sizing and risk per trade, and why a demo test before going live is a must is explained in Backtesting and forward testing.