How to backtest an expert advisor forex

How do I load an Indicator?

Once you have downloaded an MT4 Indicator it needs to be placed in the correct directory.
Usually your brokers folder will be c:\Program Files/(name of broker)/experts/indicators/ and you can place either the .mq4 or .ex4 file types here.

All .mq4 file types will automatically be converted to the .ex4 type by Metatrader as you load up the program.

Once the file is in its correct location you will need to load up your Metatrader terminal (or restart it if you already have it open). To load up an indicators simply choose a currency pair, with that currency pairs trading window open, select the indicator in the far left pane (under Custom Indicators) and drag it into the trading window. It will firstly come up with a settings window. Make sure you have "Allow DLL Imports" ticked on just incase this particular indicator wants to call up any dll's.

You can also have a look at other settings under the "Inputs" tab. Most of the time you will not need to adjust anything here though some indicators allow you to alter the colours if you are not happy with their default settings.

HIGH RISK WARNING: Foreign exchange trading, (Forex) carries a high level of risk, that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level and risk tolerance. You could lose some or all of your initial investment. Do not invest money that you can not afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial, or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes and is not intended for trading purposes or advice.

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