How to install an indicator in MetaTrader 4 step by step

Custom indicators help you analyze the market with tools that do not come by default in MetaTrader 4. Installing them is very similar to installing a robot, and here we explain it step by step.

Steps to install the indicator

• In MetaTrader 4 go to File and then to Open Data Folder.
• Enter the MQL4 folder and then the Indicators folder.
• Copy the indicator file (.mq4 or .ex4) into that Indicators folder.
• Restart MetaTrader 4 or right click on Indicators and press Refresh.
• Drag the indicator from the Navigator onto the chart where you want to use it.

When you drop it on the chart, a window with its parameters will open. Adjust them to your liking and press OK. The indicator will appear over price or in a lower window, depending on its type.

Final tip: do not overload the chart with too many indicators. A few well understood ones are more useful than many that contradict each other.