Here you will find the list of the frequently asked questions and the answers to them.
How do I install expert advisors or indicators from the mql5.com market?
Kindly read my installation guide.
How do I update expert advisors or indicators from the mql5.com market to latest versions?
The procedure is identical to the installation, but instead of the “Install” button, you should click the “Update” button (it will be available if an update is available).
The free download button is not working!
In order to install a free product, you need to find it in the Market and click “Download”. After that, the product will immediately appear in the “Market” list of the Navigator (View => Navigator).
Do I have to pay for future updates?
No, updates are free.
What is an activation?
An activation is the act of installing a product in a Metatrader platform. Each time you do, an activation is consumed.
Does an update consume an activation?
No, it does not.
Can I get the .mql file (source code) of a product?
No, we don’t disclose our source codes for any reason.
Can I run indicators and EAs from the mql5.com market in Mac OS X?
Yes, but you need to virtualize Windows on your Mac. You can use Parallels Desktop or VMWare to do so. You can also use remote access to a server (for example, using Microsoft Remote Desktop), where Windows and the Metatrdader 4 or 5 platform are installed.
Emulation with Wine or Crossover won’t work because the mql5.com market needs Internet Explorer (IE > 8) to be installed in your operating system.
Do you offer discounts?
No, we don’t. The mql5.com market does not implement discount codes functionality. But sometimes I have promotions for my products. You can find out about them in the news feed if you add me as a friend.
I want to make 30%-100% per month!
Consider the possibility that your expectations are unrealistic. The best hedge funds in the world make around 30% per year, but you want to make several times that: you might succeed but chances are that not for long. It will probably lead you to use excessive use of leverage and eventually you’ll suffer a loss difficult to recover from.
Why are you not answering to my questions?
I’ll try to reply within 24-48 hours. Kindly note that if your question regards a free indicator or EA, response is provided within a week.
Do your indicators work on renko charts?
No, they don’t. My indicators use timeframes data and renko charts eliminate time from the chart. The indicator will load and display upon loading, but won’t update information as more renko bars are created. It’ll stay idle.
Do your indicators implements alerts?
Yes, all of them implement alerts of all kinds: visual, email, push and sound alerts.
Can I use your indicators to trade small timeframes such has M1, M5 and M15?
My indicators will load and evaluate on any timeframe. However, no indicator will really help you to trade M1, M5, M15 and other small timeframes, because transaction costs in these timeframes (the sum of spread, commission and slippage) represent already several times the ATR of the chart. So basically you are giving up from 3 to 5 average bars in transaction costs, for each trade. It’s not cost effective: the cost of trading represents several times the price movement you are trying to capture.
The indicator does not work!
Make sure to check if the platform is working correctly and there is a connection to the server to narrow down the problems description. Once you have narrowed down the problem and, if it’s still needed, reach out for support. It’ll greatly help if you could attach the screenshot with an error message relevant to the problem that needs to be resolved.
The indicator loads blank and displays nothing
Make sure to check if the platform is working correctly and there is a connection to the server and check for error messages before asking for support: it can be anything from an execution error to an activation error if your moved the indicator file manually across platforms. Scroll the chart to the past: maybe the indicator is working fine and whatever the indicator finds does not happen very often and the last occurrence is outside of the scope of your current chart zoom.
I get an “invalid license” error!
Kindly note that indicators downloaded from the market can’t be moved manually to other platforms: if you manually move an indicator file from one platform to another, it won’t load in the second platform. Instead, you have to activate it in the new platform. Read my installation guide.
The EA does not work!
Make sure that all parameters for the correct functioning of the Expert Advisor have been set. For correct work of the Expert Advisor the button “Auto Trading” should be active in the menu bar and also import from external experts, live trading and Long&Short positions should be allowed.
Also check if the platform is working correctly and there is a connection to the server to narrow down the problems description. Once you have narrowed down the problem and, if it’s still needed, reach out for support. It’ll greatly help if you could attach the screenshot with an error message relevant to the problem that needs to be resolved.
The EA is not placing trades!
Make sure that trading permissions are properly enabled and the terminal is connected to the broker server. If no errors are present in the log, it probably means that no trading opportunities have arisen since the EA was loaded to the chart: some of my EAs do not trade very often. The EA trading frequency might just be low and patience is required.
The EA does not run in the tester!
Most of my EAs read price data from many timeframes simultaneously and this requires price data to be in sync. Metatrader 5 handles synchronization very well but in Metatrader 4, sometimes you need to manually force the download and re-sync of price data. To do so, click on “Tools => History Center”, and download the price history of all timeframes for the symbol you want to trade. Then restart the terminal and try again.
Kindly note that if you are trying to backtest a multi-currency EA in Metatrader 4, it won’t backtest, because Metatrader4 does not support multi-currency backtesting. So, this might be another reason for the EA not to trade in the tester.
I get an “invalid license” error!
Kindly note that experts downloaded from the market can’t be moved manually to other platforms: if you manually move an expert file from one platform to another, it won’t load in the second platform. Instead, you have to activate it in the new platform. Read my installation guide.
The EA loads but displays nothing
Most of my EAs just print a chart comment with text information. If you are running an indicator in the same chart that prints chart comments, it might be overriding the output of my EA. Try to remove the indicator(s) and load the EA again. If nothing is displayed, make sure the EA has trading permissions and the terminal is connected to the broker server.
What account leverage do I need?
I would say that 1:20 is enough. Kindly note that the leverage the broker offers and the one you actually allocate are different things. The broker might be offering 1:100 leverage or 1:500. Some EAs require a leverage of 1:500, therefore check the account requirement in the description of each EA.
What is the magic number parameter?
The magic number a numerical signature used by expert advisors to place and later recognize their own trades, even if the platform is closed or the internet connection lost and later restored. Each EA should trade with different magic numbers to avoid meddling with each other’s trades. Using the same magic number for two different EAs is dangerous and results unpredictable.
Do I need to change the magic number from symbol to symbol?
No, you don’t. The EA recognizes its own trades by magic number and symbol.
Can I load the same EA many times on the same symbol but in different timeframes?
Yes. But you need to change the magic number for each instance to avoid trade meddling.
Can I load many EAs on the same symbol?
You can, but I don’t advise it, not even with different magic numbers. Results are completely unpredictable and once the damage is done, no developer would be able to tell you what really happened. Different EAs can run into endless OrderMofify() loops or have different emergency mechanisms triggered on certain leverage levels or drawdown levels, to name a few issues.
What is the slippage parameter?
Slippage is the difference between the expected price of a trade, and the price the trade actually executes at. Slippage often occurs during periods of higher volatility. The slippage parameter instructs the broker which is the maximum slippage, in points, you are willing to accept for your trades. If the broker can’t fill your order inside your desired slippage, you will get a requote and the order won’t be filled.
Can I customize the order comments?
Yes, look for an input parameter called “Comment” in the EA inputs, and type your desired order comment string.
Do you have any other questions?
Kindly post them in the comment section below and I’ll reply.