After installing your expert advisors, you can apply them to help automate your trades, save time and effort, and learn more about trading.
The expert Advisors should appear on screen as soon as you launch the MT5 application. If for any reason you do not see them, just go to “Charts” → “Experts List,” or simply click “ALT+X” to bring up the EA window. Then simply select the advisor and click on “Show.”
The advisor will look something like this:
As you can see, this specific Expert Advisor is for a Buy Signal (as evident from the green “Buy Limit” sign. The Advisor appears as a type of signal which provides an entry point, a target, and an exit point (stop). It also shows the level of confidence (the higher, the better) and an expiration time limit, after which the signal is no good.
To apply the Advisor, follow the steps below:
Step 1:
Click on “Trade Now”
Step 2:
In the next window, you can review the logic behind the signal in the “Trade Idea” section. If you are satisfied with this signal, click on “Trade” in the top right corner.
Step 3:
The next window is the review screen. Everything here is entered automatically according to the signal, so you don’t really have to change anything, although you have the ability to make adjustments if you wish. Once you are ready to enable the Expert Advisor, just click on “Place Order.”
It’s as simple as that! The Expert Advisor will now take over, automatically opening and closing the position at the right time, saving you a lot of time and effort. By studying the open and close levels as well as the “Trade Idea” section, you can also learn more about technical analysis which can help you eventually perform your own.