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How to Write an Expert Advisor or an Indicator

MQL4 Source Code Library for MetaTrader 4 - 15

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.


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.

One of the indicators that display the session times.

The idea of this indicator is quite simple: draw lines to remember the current phase of the market and who "rules" the market.

One of the indicators I recommend to novices as the entry indicator.

As it can be seen, the indicator is perfect. Simply buy at the second black bar and sell at the second red bar. And take all the movement literally pip by pip.

Displays the type of candlestick or small pattern in accordance with the general setting.

A more advanced patterns analyzer. In addition, it generates a signal.

The DJ Lines belongs to the Pivot group. All similar indicators operate on the principle - «Based on the values of the previous day (days) it is possible to calculate a point, passing which would mean a change in the trend».

One of the new tendencies in trading is digital indicators.

If you like plotting channels, I recommend plotting them yourself. This is particularly true for the slope channels. However, if you use channels merely as filters or simply like to set alerts on these levels, then the indicator will be useful.

Really useful channel indicator.

In classical literature, the relative strength index is described as the "price-following oscillator that ranges between 0 and 100, and signals the market sentiment to change the trend at high (close to 100%) or low (close to 0%)...

The most common and essential modification of Bollinger bands. Displays the standard deviation in a separate window, without disturbing the trading psychologically.

A modification of the popular ADX indicator.

Kaufman Moving Average.

The 4Period RSI Arrows indicator

Moving average channel based on the Fibo levels

Indicator based on the data of multiple RSI, Bollinger, MAverage. Beautifully displays the areas for buying and selling. Recoups 30-90 points, depending on the currency.

Script for the calculation of the third Elliott wave

Indicates the number of periods for the calculation of the average line.

Through the use of more sophisticated smoothing algorithms this RSI has less delay and smoother shape of the curve.