Setting Up an EA in MT5 (Windows)
Using the Expert Advisor (EA) in MT5 allows for automated trading. Here we guide you on setting up automated trading using an EA. EAs can be obtained online or created by yourself. Additionally, TitanFX offers a variety of free EAs, so if you are interested, please give them a try.
Installing an EA
Select 'Open Data Folder' from the 'File' menu in MT5.
Copy and paste the EA file into the 'Experts' folder within the 'MQL5' folder shown in the explorer.
Restart MT5.
Launching an EA
Once restarted, the added EA will appear in the Expert Advisors section of the navigator.
The EA operates on a selected chart. Set the trading symbol and time frame, and double-click on the EA name in the navigator or drag and drop it onto the chart.
In the settings window that appears, check 'Allow Algo Trading' in the 'Common' tab.
In the 'Inputs' tab, set parameters like lot size as needed and click 'OK' to launch the EA.
Finally, click the 'Algo Trading' section of the toolbar to turn automated trading on (green play icon), starting the automated trading process.
You can verify that the EA is operating by the hat icon at the top left of the chart. A blue hat icon indicates that the EA is active, and a white hat icon indicates it is stopped.
Stopping an EA
Stopping an EA on a chart
To stop an EA, right-click on the chart where the EA is running and select 'Expert List' from the menu that appears.
Select the EA you wish to stop and click the 'Remove' button. Closing the chart where the EA is running will also stop it. Note that open positions or pending orders remain, so if they are not needed, they should be closed manually.
Stopping all EAs running in MT5
Finally, click the 'Algo Trading' section of the toolbar to turn off automated trading (red stop icon), which pauses all EAs operating in MT5. Turning it back to on (green play icon) will resume operation. Note that open positions or pending orders will remain, so if they are unnecessary, you must close them manually.
Important Notes When Operating an EA
-While an EA is running, MT5 and the chart it is operating on must be kept open. Closing them will stop the EA.
-Maintain a stable internet connection while an EA is running. Interruptions can cause improper functioning of the EA, potentially leading to unintended trades.
-Stopping an EA does not automatically close open positions or cancel pending orders; these must be manually managed if no longer needed.
