Monday, October 13, 2008

How to tell forex Experts from forex Indicators

There is no file extension to distinguish between and forex Expert or forex Indicator. If you are not sure what you have, they you have to look at the code in MetaEditor. At the top of the code in MOST Experts there will be code such as Lots, Stop Loss, Take Profit, these would be Experts.

Most MT4 indicators with say Custom forex Indicator in the code, and MT3 forex indicators with have things such as Separate Window, First Color, Draw Type and things of that nature. I can not code a single thing, but I can read. Some Experts have a wealth of information written inside the code for easy understanding.

When you drag the Expert from the forex Expert Advisors folder in MetaTrader to the forex chart and let if go, that is when a pop up window should show up. On the common tab will be a box that says allow live forex trading, check it. Inputs tab will be to make changes to the code if it's allowed. Then click ok. Indicators taken from the Custom forex Indicators folder of MetaTrader will have a popup window as well, but no live forex trading. Just a list of settings, click ok and it should run.

If it's not, I would probably remove the Expert or Indicator from MetaTrader and try it again. I could be they are just in the wrong folders. Open the code to determine what it is, place it in the appropriate folder, compile it in that folder and start MetaTrader. From the Navigator menu, open forex Expert Advisors, drag the EA to the chart you want to run on and let it go, on the comon tab from the popup, click allow live forex trading and it should work. If it's an forex Indicator, it will be in the Navigator Menu under Custom Indicators.

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