What does it mean to have an .ex5 file?

[Jessica]

Hi guys!

I'm a bit new to the MT5 system and would like your help.

I've recently come across a free indicator on the library and really enjoyed it. I've saved the .ex5 file because I want to have it in case it disappears from the indicators library.

My question is: having this .ex5 file would still make it appear on my charts even if, by any chance, the indicator itself is removed from library, by its original maker?

Thank you in advance!

[Fernando Carreiro]

Jessica: I'm a bit new to the MT5 system and would like your help. I've recently come across a free indicator on the library and really enjoyed it. I've saved the .ex5 file because I want to have it in case it disappears from the indicators library. My question is: having this .ex5 file would still make it appear on my charts even if, by any chance, the indicator itself is removed from library, by its original maker? Thank you in advance!

What is your definition of "library"?

Is it the CodeBase? Is it the Market?

What exactly are you referring to?

[Jessica]

Fernando Carreiro #:

What is your definition of "library"?

Is it the CodeBase? Is it the Market?

What exactly are you referring to?

Hi Fernando,

It would be the Market (https://www.mql5.com/en/market/mt5/indicator).

[Fernando Carreiro]

Jessica #: Hi Fernando, It would be the Market (https://www.mql5.com/en/market/mt5/indicator).

Then yes, a backup is always a good ideia, but even if the author removes the product, it will still be available to you in the Purchases section.

However, that backup will not be functional on a different computer or if your current computer undergoes hardware changes or major windows updates. When that happens you will need to reactivate it again and lose an activation count.

[Jessica]

Fernando Carreiro #:

Then yes, a backup is always a good ideia, but even if the author removes the product, it will still be available to you in the Purchases section.

However, that backup will not be functional on a different computer or if your current computer undergoes hardware changes or major windows updates. When that happens you will need to reactivate it again and lose an activation count.

Ohh, I see, (thank you!) so, if I would like to not depend on the author, I would basically need to have the source code of such indicator, would that be correct?

[Fernando Carreiro]

Jessica #: Ohh, I see, (thank you!) so, if I would like to not depend on the author, I would basically need to have the source code of such indicator, would that be correct?

That is correct, you would need the source code. But Market products do not offer source code.

In the CodeBase however, the Indicators and EAs there are provided as source code, which you would then need to compile in MetaEditor before you can use it in MetaTrader.

[Jessica]

Fernando Carreiro #:

That is correct, you would need the source code. But Market products do not offer source code.

In the CodeBase however, the Indicators and EAs there are provided as source code, which you would then need to compile in MetaEditor before you can use it in MetaTrader.

Thank you so much, Fernando, I really appreciate your help!

[Fernando Carreiro]

Jessica #: Thank you so much, Fernando, I really appreciate your help!

You are welcome!

Please also that the CodeBase in the English section and the CodeBase in the Portuguese section are different, as it is different in the other languages too. So you can search in all of them for what you need.

[Jessica]

Fernando Carreiro #:

You are welcome!

Please also that the CodeBase in the English section and the CodeBase in the Portuguese section are different, as it is different in the other languages too. So you can search in all of them for what you need.

Oh wow! Didn't know that! Thank you, I'll research a bit!