What is an Expert Advisor?
An Expert Advisor (EA) is an automated trading program that runs inside MetaTrader 5. It can analyse the market and place trades automatically following the rules coded in MQL5.
Installation steps
- Open MetaTrader 5 and go to File → Open Data Folder
- Navigate to MQL5 → Experts
- Copy your .ex5 or .mq5 file into that folder
- Restart MT5 (or refresh the Navigator)
- Drag the EA onto the chart you want to trade
- Enable "Algo Trading" in the top toolbar
Backtesting with the Strategy Tester
Before trading live, test your EA with the MT5 Strategy Tester: Ctrl+R. Select a wide date range and analyse the results. Look at the profit factor, maximum drawdown and number of trades.
⚠️ Caution
Past results do not guarantee future performance. Always test on a demo account before using real money, and keep monitoring the EA — market conditions change.
⚠️ Risk warning
Trading binary options carries significant risk. The majority of traders lose money. This site contains affiliate links.