MT4 Stock Software Meta-Editor Tutorial: Adding Custom Indicators
MT4 Command Line - The MetaEditor language Editor is a programming environment on the MT4 that stock traders can use to add new MetaTrader 4 Custom Indicators, Scripts, Libraries and Include Files which are used in MetaTrader 4 programming - MT4 Command Line Programming Editor. MetaTrader 4 platform MetaEditor or MT4 Command Line MetaEditor is commonly used by Traders who use Automated EAs to place stock trades. In this Best MetaTrader 4 Custom Indicators indices guide we shall look at how to add a custom indicator on MetaTrader 4 platform using the MetaEditor, to learn how to add a new MetaTrader 4 EA Automated Robot you can go to the: Adding a new MT4 EA Indices Guide.
The MT4 online platform MetaEditor environment is illustrated and shown below.
Meta Trader 4 Online Trading Platform MetaEditor Environment - MT4 Command Line
MetaEditor Menu - MT4 Command Line Meta Editor Menu
On Meta Trader 4 platform, after adding a Indicator a trader will require to compile this newly added custom indicator item so that it can now be recognized by the Meta Trader 4 Software & begin to appear on MetaTrader 4 platform Navigator Window in the MetaTrader 4 Custom Indicators Sub Menu.
How to Add a New Custom Stock Indicator on MT4 Platform
After you have opened the MetaQuotes Language Editor - MT4 Command Line MetaEditor - on your platform as displayed above (Short-Cut Key-board Key - Press F4 Key), you can then follow the steps below:
Step1: Go To File Menu, Then Choose 'New'
Adding Custom Indicators on Meta Trader 4 - How to Add MetaTrader 4 Custom Indicators Stock Indices - Stock MetaTrader 4 Command Line
Step2: On the Pop-up window that appears on your screen choose 'Custom Technical Indicator' and then click next
Adding Custom Indicators on Meta Trader 4 - Add MetaTrader 4 Custom Indicators
Step3: Select and Enter a Name as Shown Below & then Click Next
Developing Custom Stock Indicator on Meta Trader 4
Step4: Specify if the MetaTrader 4 Custom Indicator is to appear on a separate panel or not, Then Click Finish
Developing Custom MT4 Indicator - How to Create Stock MetaTrader 4 Custom Indicators
For an Meta Trader 4 custom technical indicator that's a price overlay - don't check this box, and for an oscillator custom MT4 Indicator - for example oscillators such as the RSI indicator or Stochastic Oscillator - check the above option.
Following Program will pop up on software Meta-Editor Window Panel
Adding MT4 Custom Indicators in Meta Trader 4
To program a customized MetaTrader 4 custom indicator it requires that you're a coder who knows C plus plus Object Oriented Coding Language, which is the programming language that the MQL4 programming language uses in the programming of the MetaTrader 4 platform. Or you can find the community of MQL4 Programmers and they can program the MT4 Custom Indicator for you.
Step 4: Compile
Don't forget to compile, for MT4 custom indicator to be recognized by MT4 platform: a trader must compile the program - custom technical indicator program, then close and restart MetaTrader 4 software, just like you restart your PC computer - you'll restart MetaTrader 4 platform software so that the newly added custom Meta Trader 4 technical indicator can start appearing & be listed on the MT4 Navigator Window - MetaTrader 4 Custom Indicators Sub Menu.
Compile New Custom Indicator on the MetaTrader 4 Online Software
If there are no Errors, the MetaTrader 4 custom indicator will be compiled successfully without any error as illustrated above.
Step5: Restart Meta Trader 4 online software & new MetaTrader 4 custom indicator should now be listed on the Meta Trader 4 Navigation Menu as shown below and you can start trading with newly added MetaTrader 4 custom indicator.
New MT4 Custom Indicator Added to the Platform - Meta Trader 4 Custom Indicators
How to Add a Downloaded Custom Indicator on MT4 Platform
If you download MT4 custom indicator from a source on the inter-net for examples on www.tradestockindices.com, and it is now on your PC Desktop computer - to add it to the MetaTrader 4 software, follow procedure below:
Step 1: On File Menu of the Meta-Editor, Select 'Open'
Open a Downloaded Indicator Using Meta-Editor - Indicators Meta Trader 4 Custom Indicators
Step 2: Locate the Download Folder location from the Pop up panel that appears as illustrated & shown below.
Step 3: Once you open the download MT4 custom indicator that you have downloaded from an internet source it will be displayed on the MetaEditor Work Space - you can then follow the above procedure for compiling the download MetaTrader 4 custom indicator, once it is compiled without errors, restart your Meta Trader 4 software & it will now be added on the software navigator menu and you can start to trade with it on your MT4 Software.
MT4 Custom Indicators Stock Indices - MT4 Custom Stock Indicators.
