An indicator is a technical tool that provides key market states on the chart and helps to project future price activities. Read on for our in-depth guide on how to add custom indicators to MT4 – we will cover iPhone/iPad, Android, PC and MAC users.
An indicator is a technical tool that provides key market states on the chart and helps to project future price activities.
If you are using the MetaTrader 4, you might have already explored the indicators pre-installed in the platform. However, such built-in tools may not serve all your needs while performing chart analysis. As a result, you look to add custom indicators from external sources that perfectly meet your requirements.
So, how do you add custom indicators to MT4? Is it too complex to use additional external indicators alongside your existing tools?
Well, MetaTrader is programmed with MQL4 language that allows you to comfortably add any MT4 compatible indicator to the platform in less than a minute! Moreover, you can install as many indicators as you want to create a new strategy or upgrade the existing one.
In this guide, we’ve thoroughly explained how to add indicators to all versions of MT4 software including, windows, mac, iPhone (iOS), and android. Additionally, we’ve added screenshots to our step-by-step guide for a better understanding of each installation process.
How to add custom indicators to MT4 on mobile?
How to add custom indicators to MT4 on iPhone
Time needed: 5 minutes
MT4 doesn’t allow adding custom indicators in the iOS version. However, you can still use such indicators through your iPhone or iPad by establishing a remote connection to your PC. You’ll get full access to the desktop version of MT4 and be able to use custom MQL4 indicators from any iOS device with the following steps:
- Establish a remote connection between your PC and iPhone/iPad device:
- Open the MT4 (desktop) > Go to navigation menu > Expand the indicator list:
- Double click on the indicator you want to add to your chart and press OK.
In this way, you’ll be able to add and use MQL4 custom indicators in both MT4 and MT5 platforms from your iOS device.
Best iOS apps for remote desktop connection:
- Remote Desktop 8
How to add custom indicators to MT4 on android
Like iPhone or iPad, MT4 doesn’t allow to add custom indicators in android devices either. So, we’ll use the same technique we’ve used for iOS:
1. Connect the android phone/tablet to your PC by using a remote desktop app:
2. Click Indicator > Go to Custom > Select the custom indicator you want to add to MT4:
3. Change additional indicator settings in the properties window if required and press OK:
4. You’ll see the custom indicator already added to your chart and started working simultaneously:
If you wish to use custom indicators in the MT5 from an android phone/tablet, simply install the MT5 platform on your PC, install the custom indicator, and connect it to your device following the same process mentioned above.
Best apps for android device to PC remote connection:
- AnyDesk Remote Control
- TeamViewer Remote Control
- Chrome Remote Desktop
- Remote Desktop 8 (Microsoft)
- Splashtop Personal Remote PC
How to add custom indicators to MT4 on PC
1. Click File at the top left corner of your MT4 window, then select Open Data Folder:
2. Open MQL4 > Indicators (here you’ll find a list of indicators already installed on your MT4 platform):
3. Drag and drop the custom indicator file in the Indicator folder:
4. Restart the MT4 platform.
5. Click Insert then Custom, and finally select the newly installed custom indicator:
6. Customize the indicator settings if necessary, then click OK:
7. As you can see, the new custom indicator is already working on the MT4 chart:
1. Open the MT4 installed on your Mac device and click on the MetaEditor icon:
2. Drag and drop the custom indicator file on the MetaEditor window:
3. Click File at the top left corner of the MetaEditor window and select the Save As option to save the file in the MT4 indicator library:
4. Now, close the MetaEditor window and restart your MT4 platform. Once done, you’ll find the new indicator listed alongside your existing indicators in the navigation window:
5. Drag and drop the newly installed indicator on any chart you want to use. Check the indicator properties box if you require any modification in settings, then press OK:
6. Once done, you’ll find the new custom indicator appearing on the chart window:
MT4 – risk of using too many indicators
Since you have learned how to add custom indicators to MT4, now you can go for any MQL4 tools and build your own trading strategy. At the same time, adding too many indicators on a chart may lead to confusion and hamper your decision-making. So, it is ideal to go for fewer tools initially and focus more on mastering them. Finally, before adding a custom indicator to MT4, make sure you pick the tool from an authentic source. Otherwise, you might fall at risk of malware or unwanted phishing virus.