Downloading a MetaTrader 4 indicator

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Forex traders use various software tools and platforms to perform detailed technical and analytical research so they can make the best trading decisions possible. The most common trading platform is the MetaTrader 4. Because of its user-friendly design and features, MT4 is quite renowned among retail traders of all financial markets—particularly the Forex market.

No matter how much you know about the market, MT4 has built-in and customizable indicators to help you learn more. You must now be wondering how to access and download MT4. This TU guide explains how and where to download MT4 indicators. So let's get started!

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Where you can download MT4 Indicators

The indicators you use depend on the MT platform you're using, but the most important ones are usually already there when you install the platform. And if you want to use extra ones that don't come with the platform, you can always go to the website of the platform or the website of your chosen broker and download them yourself.

You can also download the most useful MT4 indicators from the TU website. Just click on the link below to find them.

How to download and install MT4 indicators

1

Go to the website of your chosen broker or platform and find the link to download MT4 indicators.

2

Click on the link to download MT4 indicators.

3

Choose the indicator you want to download and click on the download button.

4

Follow the instructions to install the indicator on your MT4 platform.

Or

2

Scroll down and find the list of free MT4 indicators.

3

Choose the indicator you want to download.

4

Click the download button to download it.

The list of free MT4 indicators

The list of free MT4 indicators

5

The indicator will now be downloaded to your device. Install it on your MT4 platform to start using it.

How to Add Indicators to MT4?

How to install MT4 indicators

If you've already decided on the MT4 indicators you intend to use, you might be unsure what to do with the MQ4 files you downloaded. Some traders might have also had trouble with the setup process. Don't worry, TU also gives you clear, step-by-step instructions on how to install your selected indicator.

Step 1: First, store the downloaded indicator files and make a new folder on your PC.

Step 2: Go to the website for the Forex indicator that you wish to download.

Step 3: If the downloaded file is a RAR or Zip archive, open it and copy the contents into the folder you created in the first step.

Step 4: Select File from the top menu of your MetaTrader platform. Then, select Open Data Folder from the resulting menu, as seen below. When you click on it, an MT4 folder where files are often kept, will open.

The File button in the top menu

The File button in the top menu

Step 5: Open the MQL4 file.

The folder with the MQL4 file

The folder with the MQL4 file

Step 6: Click on the Indicators folder as shown below.

The Indicators folder

The Indicators folder

Step 7: Once finished, you can either restart the MT4 platform or update the Navigator panel's list of indicators. If everything went as planned, you should now be able to see the new indicators in the program's tab. Before you use the newly installed indicators, make sure they have all the necessary settings and parameters.

FAQ

Which is the best MT4 indicator for scalping?

The EMA indicator is thought to be one of the best indicators for scalping because it reacts faster to recent price changes than to price changes that happened in the past. Traders use this technical indicator to find out when to buy or sell based on how the historical averages cross or move away from each other. These signals may then be used to make trading decisions.

How are MT4 and MT5 different?

While it would appear that MT5 is an improved version of MT4, this is not necessarily the case. On the other hand, MT5 lets you trade futures, stocks, and CFDs, while MT4 is mostly just a Forex trading platform.

Can I add a custom MT4 indicator on a mobile platform?

Because the Android and iOS platforms do not permit changing the app's code and do not enable any preprogramming of the installed app, it is not possible to install custom indicators on the MT4 Android platform. The iOS platforms also do not allow preprogramming of any kind. You can't add indicators, scripts, or expert advisors to the mobile app. You can only do this on the desktop versions of MT4 and MT5.

What is the purpose of a broker in MT4?

You can only perform real trades through a broker. You will need to open an account with a broker that supports MT4.

Team that worked on the article

Oleg Tkachenko
Author and expert at Traders Union

Oleg Tkachenko is an economist-analyst and a risk manager with a practical experience of working in financial institutions for over seven years. Oleg specializes in the analysis of commodities, Forex, stock markets and non-standard investment markets (cryptocurrency, hypes, peer-to-peer lending). He holds a Master’s Degree from the Ukrainian Academy of Banking of the National Bank of Ukraine, Kharkiv Banking Institute. Oleg became an author for Traders Union in 2018; in 2020 he joined the TU’s team of financial experts.

At Traders Union, Oleg is involved in expanded reviews of brokerage companies, and in monitoring the relevancy of the information provided in them. He analyzes trading strategies and indicators, and prepares educational articles on the topic of finance. In addition, Oleg carries out expert research in the Forex and stock markets, and also binary options and cryptocurrency markets. In particular, he checks brokerage companies, studies their performance and growth, tests new services offered by brokers, software and the level of customer support.

Oleg’s motto: Information is a force that opens boundless opportunities, but requires relevancy!

Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.