MetaTrader is a trading terminal that is used by hundreds of Forex brokers.
The main reason why it has become so popular is because it is a very stable platform with loads of useful options.
The MetaTrader software has many indicators that are used for technical analysis. Yet sometimes these indicators are not enough for traders.
MetaTrader has an option to add custom indicators which are programmed in its native MQL4 programming language.
There are literally tens of thousands of custom indicators available by third parties. Some custom indicators are free, usually shared by traders and analysts on dedicated forums and some indicators are sold.
Prices of custom indicators can range from $10 to $500.
For example, we offer 3 very useful indicators for only $99 in our special offer!
Once you download your custom indicator follow these steps in order to install it on your MetaTrader 4 terminal:
1. Unzip the package you downloaded
2. Open the extracted indicators folder and copy the custom indicator file, it will have the .ex4 extension
3. Open your MT4 platform and go to File then choose Open Data Folder
4. Open MQL4 folder than the Indicators folder
5. Paste the copied indicator file into the Indicators folder
6. Close your MT4 platform and then open it again – this step is very important
7. Go to Insert, choose Indicators, then Custom and from the list select your custom indicator
That’s it.
After making your selection, your custom indicator will be automatically loaded into your chart and trading window.