Introduction to MT5 (Part 2)

BryanMac

I am going to go ahead and and run thru part 2 of intro to MT5, I will be showing how to properly install it so that you will have minimal issues when adding custom indicators. So your 1st step will be to find a MT5 broker.

There is a pretty good list here:

I am not using MT5 to trade FX let me be clear there just for BINS.

So before you download and install your MT5 client to avoid issues with windows UAV we want to put it in a directory that windows UAC will not mess with.



As you can see I created a folder directly in my C: drive not in program files, so now when you do your install you will install it to that directory not the default.

Ok so step 2 once you have MT5 installed to the directory you created we want to jump into that folder and look for the following application right click it and save to desktop.



All done great step 3 find the Icon on your desktop right click it go to properties then shortcut tab.

You will want to edit the target line and add /portable to the end with a space.



This will allow you to add custom indicators without any issues.

Next step is we want to right click the MT5 icon again and set it to run as administrator.



You will also want to set metaeditor64 to run as admin it is in the same install folder you created.

http://i.imgur.com/JZ0OEz3.png

then set it to run as admin like we just did.

That completes your set up and the best way in my opinion to install MT5 or MT4 even to your computer.

The next step would be adding in custom indicators.

You will want to download them to the below location in your custom folder to the MQL5/Indicators folder as show below.

http://i.imgur.com/LYkRfB3.png


KK almost done LOL

Once your sparkling new custom indi has been downloaded to the Indicators folder the next step is to compile it.

SO lets open metaeditor64 make sure you set it to run as admin.



Once its open look for the compile button and click it. If all goes well no errors. (this works fro MT5 indis only MT4 indis must be converted to MT5.)




Now close meta-editor and open up MT5 and you should see your new indi in the custom folder in navigator.

Yes its a few more steps than in MT4 but it will give you the least amount of headaches and no issues with indicators vanishing,

If you have any questions hit me up.

Bryan

mifune

Nice post. I've never used MT5 before, as MT4 always seems to be the prevailing and preferred software. What advantages do you find with MT5 over MT4, if any?

BryanMac

I like the fact that it has little flags at the bottom on some brokers for news so i don't need a indi on the screen, it also runs faster as it is a 64 bit program. That being said I use it strictly for bins, I still use MT4 for my FX trades. For me it does just have a cleaner feel.