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How to Write an Expert Advisor or an Indicator

MQL4 Source Code Library for MetaTrader 4 - 8

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.


The indicator used to determine the global trend.

This indicator is created to determine the trend and its direction.

Here, the trail line is used instead of the signal line. Trail is the line that is distanced from the current price no more than the trailing length.

The chart contains the main line (the difference between the fast EMA and the slow EMA, applied to the Ticker line) and the signal line (obtained by applying the SMA to the main line).

It is calculated as the difference between two simple moving averages: SMA(5) and SMA(34). Type of the chart: histogram with green and red colored bars.

Two options of the calculation, which creates the Lagrange polynomial based on the reference points.

It is suitable for those who are too lazy to calculate the daily levels.

The indicator of the famous trader Korykin. It helps to enter inside the channel.

Some people think that most indicators, such as: MACD, RSI, AO, AC, are delayed and not convenient to work with. But the MaksiGen KaHaJI ckaJIneP allows to earn 10 points every day persistently.

The result - receive not only the Murray levels on which the pivot points are based, but also their current statistical significance...

Modified LSMA_In_Color indicator. Added: usage of the applied price.

This is an advanced version of RSI. Laguerre converts the signals, so that low-frequency components lag much more that the high-frequency ones.

Trend indicator with a multitude of settings. Displays the direction (red) and strength (blue) of the trend as a two-colored histogram. The main signals are the crossing of the zero line, reaching a new high/low, divergence.

Trend filter. In short, the RSIFilter fails on strong fluctuations, but handles the trend good enough, but if it get improved a bit, it could be able to give clear answers.

Elastic Volume Weighted Moving Average (EVWMA), a natural replacement for the standard moving average.

This is a very simplistic method, one of the best in the signal processing and target tracking.

The indicator is very simple, and it requires certain mental and psychological efforts.

The modified version of the DayImplus 1.1 indicator.

A clearly visible fractal is required to determine a signal. The second point is the presence of an auxiliary (reference) peak. A signal line is drawn from the fractal through this auxiliary peak...

This is an impulse or signal indicator. It is very sensitive and quickly responds to the price movements.

Based on the intersection of the averages. The author of the system states that about 90% of the trades are positive. And considering its exit strategy, it is possible to collect a rather big profit during a trend.

The indicator generates a sound signal and a Sell or Bye window appears.

Directional system (ADX). The directional system has been created by George Wilder in the middle of the 70s as an addition to the PARABOLIC SAR system, and then further developed by a number of analysts.

The properties of this indicator are quite similar to the classic oscillators and exactly the same methods of technical analysis can be applied to it as to the RSI.

The BW2 - WiseMan 1 indicator. Based on the book by Bill Williams - Trading Chaos Second Edition.

Here, the focus is on the middle part of the price series. In fact, they are double-smoothed simple moving averages. The simple Moving Averages' length depends on evenness or oddness of the chosen number of periods.

This indicator is very simple to use: red arrow - sell signal, blue arrow - buy signal. Exceeds its analogues, such as Hi-Lo, Trend and others, by several times. Works on any timeframe and with any currency pair.

Displays 3 vertical lines each for a time zone.

The indicator implements the Gann principle in the form of a ZigZag.

An interesting indicator that plots the trading channel by fractals and adds a Fibonacci fan on top.

The fourth indicator of the series of indicators without averaging.

The trade sessions indicator.

The Paramon work time indicator.

The morning range indicator.

Entry and exit signals by the "Monday" system.

This example has been built using SAR (Stop And Reverse) indicator with Advanced Money Management function.

Handy crosshair for MetaTrader 4.

QEMA is the Quadruple Exponential Moving Average. With this small change you can modify the percentage of the quadruple correction respect to the normal EMA.

RenkoLiveChart_v600 version 6 indicator converted from RenkoLiveChart_v600 version 6 Expert Advisor.

When two Moving Averages cross the indicator will alert once per cross between crosses and mark the cross point with down or up arrow.