How to Install an Expert Advisor on MT4
Expert Advisors (EAs) are automated trading programs that run on MetaTrader 4. This guide will walk you through the complete installation process.
Prerequisites
- MetaTrader 4 installed on your computer
- An active trading account (we recommend XM for competitive spreads)
- The EA file (.ex4 format)
Step 1: Download the EA
Download your chosen EA from our download page:
- SteadyPips EA — Trend following strategy
- GridMaster EA — Grid trading strategy
Save the .ex4 file to a location you can easily find.
Step 2: Open the MT4 Data Folder
- Open MetaTrader 4
- Click File → Open Data Folder
- Navigate to MQL4 → Experts
Step 3: Copy the EA File
Copy the downloaded .ex4 file into the Experts folder.
Step 4: Restart MT4 or Refresh
Either:
- Restart MetaTrader 4 completely, or
- Right-click on Expert Advisors in the Navigator panel → Refresh
Step 5: Enable Automated Trading
- Click Tools → Options → Expert Advisors tab
- Check Allow automated trading
- Check Allow DLL imports (required for API verification)
- Check Allow WebRequest for listed URL and add:
https://api.steadypips.net - Click OK
Step 6: Attach the EA to a Chart
- Open a chart for your desired currency pair (e.g., EURUSD H1)
- In the Navigator panel, find your EA under Expert Advisors
- Double-click or drag it onto the chart
- The EA settings window will appear
Step 7: Configure Settings
Review the default settings. Key parameters:
For SteadyPips EA:
RiskPercent= 2.0 (2% risk per trade)MaxTrades= 3 (maximum concurrent trades)EnableAuth= true (keep enabled for verification)
For GridMaster EA:
GridSizePips= 20 (spacing between grid orders)StartLotSize= 0.01 (starting position size)MaxDrawdownPercent= 20 (safety cutoff)
Step 8: Verify It’s Running
- Look for the smiley face icon in the top-right corner of the chart
- If you see a frowning face or no face, check that automated trading is enabled
- Check the Experts tab at the bottom for log messages
Troubleshooting
| Problem | Solution |
|---|---|
| No smiley face | Enable AutoTrading (Ctrl+E) |
| “License not verified” | Register your account at steadypips.net/register |
| DLL error | Enable DLL imports in Tools → Options → Expert Advisors |
| No trades opening | Check if market is open, verify minimum spread requirements |
| WebRequest error | Add api.steadypips.net to allowed URLs |
Recommended Setup
- Timeframe: H1 (SteadyPips) or M15 (GridMaster)
- Pairs: EURUSD, GBPUSD, USDJPY (major pairs with low spreads)
- VPS: Consider a VPS for 24/7 operation without keeping your PC running
Affiliate Disclosure: Links to XM are affiliate links. We receive a commission at no cost to you. Full disclosure
Risk Warning: Automated trading involves risk. Past EA performance does not guarantee future results. Never trade with money you cannot afford to lose.