Installing an Expert Advisor in MetaTrader 5 is simple once you know where each file goes. These are the exact steps, from copying the .ex5 to seeing the smiley face that confirms the EA is trading.
Step 1: open the MT5 data folder
In MetaTrader 5: menu File → Open Data Folder. The explorer opens in the correct folder. Go into MQL5 → Experts.
Step 2: copy the EA file
Copy your .ex5 file (or .mq5 if it is source code) into the Experts folder. If the EA ships its own indicators, put them in MQL5 → Indicators.
Step 3: restart or refresh
Back in MT5, in the Navigator window, right-click "Expert Advisors" → Refresh. Your EA appears in the list.
Step 4: drag the EA onto the chart
Open the chart of the pair and timeframe you want to trade. Drag the EA from the Navigator onto the chart. The properties window opens.
Step 5: enable algorithmic trading
- On the Common tab, tick "Allow Algo Trading".
- Set the EA parameters on the Inputs tab.
- Click the Algo Trading button in the top toolbar (it must turn green).
If you see a smiley face in the top-right corner of the chart, the EA is active and trading.
Step 6: verify on demo first
Before real money, run the EA for 5–7 days on a demo account. Check that it opens and closes trades as expected and that the lot sizes match your configured risk.
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See EAs →Next: how to choose a good MT5 EA.
Running an EA involves risk. Always test on demo before trading live.