Creating A Custom MT4 Indicator

Creating a custom trading indicator can seem like a challenge at first but in reality is just requires a little understanding of the MetaQuotes language and a little time.

All indicators can be created in MetaEditor, for which you will find a navigational button in the menus on your MT4 platform.

A great way to start creating a custom indicator is to edit and existing one. If you learn how to change say, parameters, or line colours, or MA type in a indicator first you will soon start to understand how an indicator is created.

To start to modify an indicator you need to open the indicator up in the MetaEditor and it should open the indicator source code which can be edited. After this code has been modified, you will have to recompile it and get a new executable EX4 file. All you will need to do is click “compile” and it will automatically create the indicator for you or warn you of errors in your indicator. Worth noting that you may want to save the original indicator to a new “file name” so you can work on that without fear of overwriting the original indicator.

After learning to edit your indicators you can progress to creation of your own ones. In the MetaEditor click through to File -> New at which point you can select “Custom Indicator” which will then take you to the Wizard that will allow you to create your custom indicator.

This is where knowledge of the MQL4 language is important as you will have to input the correct parameters and options for the indicator to work. Don’t worry there are many MQL4 programmers that can help you, some for free, and multiple forums and documentation sources on MT4 language so you you will be able to find all the information you need to code your own indicators.

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