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How to Write an Expert Advisor or an Indicator

MQL4 Source Code Library for MetaTrader 4 - 14

The largest library features codes of free trading Expert Advisors, technical indicators and scripts. With the available applications you can trade in automated mode and analyze price dynamics. Use the library of codes to learn more about financial market sentiments.

Download free applications, test them and run in your MetaTrader 4. You can access them from the MetaTrader 4 platform and the MetaEditor development environment.


This tiny script visually demonstrates the identity of two common Moving Averages

Displays what was reached first - Low or High for the current bar.

An example for my yet unpublished article. An easy template for writing custom experts.

The trend strength(phase) indicator.

The indicator calculates the indices of the USD, EUR, GBP, CHF, AUD, CAD currencies and displays the index specified in the parameters in a separate window.

The idea of the indicator is to select each currency from currency pairs separately. The currencies are measured in relative units (points). The sum of all currencies at any given time is equal to zero.

Displays the overbought or oversold states of the currencies relative to each other.

Chandelier Exit calculates the trailing stop based either on the maximum value of the maximum price or the maximum value of the close price over a specified period.

The ideal indicator for those who like to work "by levels". It clearly shows the reversal level, support/resistance levels for the current day.

The indicator demonstrates the trend stops with multicolor dots. In order to distinguish the targets the BrainTrend2Stop uses Blue and Red dots.

The indicator demonstrates the trend stops with multicolor dots.

The Avg Daily Range indicator.

The script helps to perform the visual analysis of multiple currency pairs on a custom time frame.

A simple indicator that demonstrates the general principle of displaying multiple indicators from different timeframes in a single window

Small indicator for monitoring the history of closed and the status of open orders on the chart. Red - unprofitable order, green - profitable.

Belongs to the Pivot group.

Calculates the pivot point.

A version of the Stochastic located right in the price window.

ZigZag with unusual properties (specify the length when plotting).

An interesting attempt to make levels based on ZigZag values. This indicator is strongly recommended for those who can not "feel" the market. The indicator gives a very clear view of the market.

An attempt to combine ZigZag and ATR. And to use it for determining the trend phase.

Gann angles inscribed in ZigZag.

The 5 34 5 indicator

The FTLM hist indicator is one of many digital indicators that emerged after some of the articles by Vladimir Kravchuk.

The SMI indicator. Based on the "Momentum, Direction, and Divergence" book by Blau.

This indicator belongs to the oscillator group.

The TRIX indicator represents the rate-of-change percentage, smoothed by the exponential МА of the closing price.

When applied to financial markets this method is usually used to determine the moments of prices extreme deviation from the "standard" level.

Smoothing for the ADX indicator. Recalculates the specified number of bars at every tick (not optimized)

The first version of the wlxBWWiseMan indicator. Displays the candles of trend changes.

Script for preparing the "minute bars" from to be imported to MetaTrader 4

The indicator is based on comparison of the current price to six simple moving averages with the periods 10, 20, 30, 40, 50 and 60. The values of the indicator are fixed: -100, -66, -33, 0, 33, 66, 100.

The script plots one Fibo line based on the latest ZigZag. This is a remarkable tool to get rid of unnecessary work for those who constantly place Fibo grids (the majority).

The indicator plots four different Fibo lines based on four latest ZigZags. Useful when applied on the higher timeframes.

Superposition of Stoch and RSI. One of the most commonly used indicators. This is the most fortunate and useful indicator.

This indicator adds a smoothing curve to the MACD.

One of the most interesting modifications of Bollinger bands. It shows the standard deviation in the bar representation.

Another indicator based on the «Bollinger bands». Good for displaying «Where the trend is, and where the flat is».

Literally, "Bollinger bands with a fractional ratio of deviation."

Murrey Math (ММ) is a trading system suitable for any markets. The MM system comprises two main components: geometry, used for measuring the price movements of the specified market, and a set of rules based on the Gann technique and Japanese candlesticks.