Learn how to add a custom indicator in MT4 platform by copying the indicator into the “Indicators” folder, refreshing the platform, and adding the symbol. This helps with faster navigation between pairs and displays running profits. Users can also save the indicator as a template for future use. The video creator uploads videos on a daily basis related to forex and binary trading, and viewers can subscribe to stay updated.

How to Add Custom Indicators on Your MT4 Platform

Forex trading can be overwhelming, especially for beginners. As a trader, it’s important to have the right tools and indicators in order to make informed decisions. In this article, we’ll be taking a look at how to add custom indicators to your MT4 platform.

What is MT4?

MT4 stands for MetaTrader 4, which is a popular trading platform used by traders worldwide. It allows traders to access financial markets, conduct analysis, and perform trades. One of the benefits of using MT4 is the ability to add custom indicators to your charts, which can help with technical analysis.

Step-by-Step Guide on How to Add Custom Indicators on MT4

Step 1: Open MT4 Platform

To add custom indicators to your MT4 platform, you need to first open the platform. If you haven’t downloaded it yet, you can do so from the MetaQuotes website. Once you’ve downloaded and installed the platform, open it up.

Step 2: Open Data Folder

To add custom indicators, you’ll need to access the data folder. To do this, click on the ‘File’ menu at the top left of the platform, then select ‘Open Data Folder’.

Step 3: Access Indicators

Once you’ve opened the data folder, you’ll see different folders including ‘MQL4’. Click on the ‘MQL4’ folder, and then select ‘Indicators’. This will open up the folder containing all the indicators on your MT4 platform.

Step 4: Copy Custom Indicator

Next, you need to copy the custom indicator you want to add to your MT4 platform. Locate the custom indicator file on your computer, right-click on it, and select ‘Copy’.

Step 5: Paste Custom Indicator

After copying the custom indicator, go back to the ‘Indicators’ folder in your MT4 data folder. Right-click in the folder and select ‘Paste’. This will add the custom indicator to the folder.

Step 6: Refresh Platform

Once you’ve pasted the custom indicator into the folder, close the folder window and then close the MT4 platform. Wait for a few seconds and then reopen the platform.

Step 7: Apply Custom Indicator

To apply the custom indicator to a chart, click on the ‘Indicators’ button on the top toolbar, and then select ‘Custom’. You should see the custom indicator you added in the list. Click on it, and then select ‘Add’.

Step 8: Save Custom Indicator as Template

If you want to apply the custom indicator to other charts, you can save it as a template. To do this, right-click on the chart with the custom indicator, select ‘Template’, and then select ‘Save Template’.

Step 9: Load Custom Indicator Template

To apply the custom indicator template to a new chart, right-click on the chart, select ‘Template’, and then select ‘Load Template’. Choose the custom indicator template you saved, and the custom indicator will be added to the chart.

Conclusion

Adding custom indicators to your MT4 platform can be very beneficial for your trading. By following these steps, you can easily add custom indicators to your charts and improve your technical analysis. However, it’s important to note that not all indicators may be effective for your trading style. As a trader, it’s up to you to test different indicators and find the ones that work best for you.