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What is an EA?

  • #1
  • First Post: Nov 4, 2006 12:27pm Nov 4, 2006 12:27pm
Hi i am new to FX and i want to find out what is an EA and Indicator. I would Appriciate if you could post a link where i can find out more. Or onee of you can break it down for me.

Peace.








Amico dove sai, sono la persona che lavora a TRX centro di londra.
  • #2
  • Nov 4, 2006 12:38pm Nov 4, 2006 12:38pm
EA stands for Expert Advisor, and it is essentially a sub-program that will trade for you in Meta Trader. A custom indicator is just that, a customized indicator for Meta Trader 4. These are just a couple of reasons why Meta Trader is so popular.
Binary Options Trader
  • #3
  • Nov 4, 2006 1:02pm Nov 4, 2006 1:02pm
Thank you Yoda_Glenn. Can you elaborate a little bit on how as a trader I can take advantage of this two tools. Basically an example of a real life situation would be nice.

Peace.





Amico dove sai, sono la persona che lavora a TRX centro di londra.
  • #4
  • Nov 4, 2006 3:20pm Nov 4, 2006 3:20pm
Quoting TrxFreeSpirit
Thank you Yoda_Glenn. Can you elaborate a little bit on how as a trader I can take advantage of this two tools. Basically an example of a real life situation would be nice.

Peace.

Amico dove sai, sono la persona che lavora a TRX centro di londra.
You can use an EA to automate your trades or receive signals when it's time to enter or exit a trade. Such signal can be in different forms like an alert box or an email right to your mail box.

Custom indicators can be a combination of two or more indicators or indicators that are made from scratch. We usually use these indicators pretty much the same as other existing indicators. They can help us to enter or exit a trade. You may also use your custom indicators as tools to develop or enhance the behaviour of an EA.
  • #5
  • Nov 5, 2006 3:22am Nov 5, 2006 3:22am
Quoting aparsai
You can use an EA to automate your trades or receive signals when it's time to enter or exit a trade. Such signal can be in different forms like an alert box or an email right to your mail box.

Custom indicators can be a combination of two or more indicators or indicators that are made from scratch. We usually use these indicators pretty much the same as other existing indicators. They can help us to enter or exit a trade. You may also use your custom indicators as tools to develop or enhance the behaviour of an EA.
Exactly, as for EAs, just think of them as Trading Bots, simple AI scripts that enter and exit trades based on a particular trading methology. If you want to learn more, go to the tutrial section here (at Forex Factory) and learn the basics of MetaTrader 4.
Binary Options Trader
  • #6
  • Nov 9, 2006 9:45pm Nov 9, 2006 9:45pm
Hi Yoda, could you please kindly advice me how to load the EAs from this forum to my Meta4 program? How i just copy the EAs to Meta4's indicator file or there is another way of loading it? Thanks in advance!

Quoting Yoda_Glenn
EA stands for Expert Advisor, and it is essentially a sub-program that will trade for you in Meta Trader. A custom indicator is just that, a customized indicator for Meta Trader 4. These are just a couple of reasons why Meta Trader is so popular.
  • #7
  • Nov 9, 2006 9:55pm Nov 9, 2006 9:55pm
Just move the EA to C:\Program Files\Metatrader 4\experts
and move your indicators to C:\Program Files\Metatrader 4\experts\indicators

Then restart Metatrader and they will be ready fro you to use.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #8
  • Nov 10, 2006 6:33am Nov 10, 2006 6:33am
Quoting songyugao
Hi Yoda, could you please kindly advice me how to load the EAs from this forum to my Meta4 program? How i just copy the EAs to Meta4's indicator file or there is another way of loading it? Thanks in advance!
I don't even restart MT4. What I do is open up the EA (after it is downloaded) into the MT4 MetaEditor, copy the code, go to 'File,' 'New,' 'Expert Trader.' From that point on, I then type in the name of the EA (where it tells you to,) the new EA window will pop up and then I will paste the actual EA code into it, go back to 'File,' click on 'Compile,' and then the EA will be ready for you to use in MT4.

If you get an EA with unique user settings, then you must place those settings in the 'presets' folder, which is under the 'experts' folder in the MT4 main directory. When you start the EA up, by placing it on a chart, simply right click on the chart, go to 'Expert Advisor,' 'Properties' and then 'Load.' You will then see the preset in the preset folder that you downloaded.
Binary Options Trader
  • #9
  • Sep 1, 2010 5:49am Sep 1, 2010 5:49am
Hi, could someone please advise why the EA no.21 wont load when i follow the instructions below.

Much appreciated.


Quoting andersenws
Just move the EA to Crogram FilesMetatrader 4experts
and move your indicators to Crogram Files/Metatrader4/experts/indicators

Then restart Metatrader and they will be ready fro you to use.

andersenws
  • #10
  • Sep 1, 2010 6:47am Sep 1, 2010 6:47am
Quoting PeterE
Hi, could someone please advise why the EA no.21 wont load when i follow the instructions below.

Much appreciated.
21) Set SL to BE is a SCRIPT, not an EA.

You should save it in the experts/scripts folder, then open the Navigator window, locate the script and drag it to your chart, and tick the "Allow live trading" box in the settings window that will show.
  • #11
  • Sep 1, 2010 6:33pm Sep 1, 2010 6:33pm
doblece, thanks

i tried that also, but still doesnt work

strangely, i have other EAs and scripts that have worked/ or are presently working

any ideas?

much appreciated

Quoting doblece
21) Set SL to BE is a SCRIPT, not an EA.

You should save it in the experts/scripts folder, then open the Navigator window, locate the script and drag it to your chart, and tick the "Allow live trading" box in the settings window that will show.
  • #12
  • Sep 1, 2010 8:02pm Sep 1, 2010 8:02pm
Quoting PeterE
doblece, thanks

i tried that also, but still doesnt work

strangely, i have other EAs and scripts that have worked/ or are presently working

any ideas?

much appreciated
Do you mind posing the EA? See if anyone of us could install it. Sometimes EA's are not programmed completely and in that case will not install or work properly.
  • #13
  • Sep 2, 2010 12:34am Sep 2, 2010 12:34am
Quoting Jhig
Do you mind posing the EA? See if anyone of us could install it. Sometimes EA's are not programmed completely and in that case will not install or work properly.
Here it is anyway (taken from that thread).
Attached File(s)
File Type: mq4 Set SL to BE.mq4   2 KB | 322 downloads
  • #14
  • Last Post: Sep 5, 2010 7:20pm Sep 5, 2010 7:20pm
mind you, don't get obsessed that an EA will take over your trading as many internet marketers claim.

The main problem for EAs is that basically they have no clue how to manage a trade.
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