How to work on a strategy for binary options in MT4?

How to work on a strategy for binary options in MT4?
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How to work on binary options strategies, which uses a template with indicators for the MT4 program? Now let's take a closer look at the entire process of installing and configuring any strategy.

Installing and configuring MT4

If you do not know how to properly install and configure the metatrader 4 program for correct work on strategies, see here here instruction.

How to install strategy files in the MT4 program?

Usually, only 2 types of files are used in the strategy, these are: a template with a .tpl file extension and an indicator file with two types of extension: .mq4 and .ex4

What is the difference between the two file types for indicators? Almost nothing, just a file with an .mq4 extension is open source, and .ex4 is a compiled file that can no longer be edited in the metaeditor.

But both file types work fine in the latest version of MT4, so you don't have to worry about different file extensions.

Read also - Strategy at the intersection of two moving averages

If you go to this section, where all the strategies for binary options are collected, then when you download the ZIP archive with files and unzip it on your computer, you will have the following folder:

Binary Options Strategy Files

You need to open the folder with the name: “MT4 Folder” and transfer the contents to the folder where you have the terminal itself installed. To do this, select all folders by holding down the left mouse button and drag them to the folder with MT4:

Transferring strategy files to MT4

When transferring, if it asks you to replace the files, click replace.

That's all, we have copied all the necessary files, now you can run the terminal to install the template on the chart.

For in the MT4 folder, click on the file called terminal.exe:

MT4 launch

Setting the strategy

To set the strategy, you need to open a chart in MT4 with the pair you want to trade on (multiple windows are possible) and right-click on the chart.

The menu will come out, go to the "templates" section and look for the template that we just uploaded.

We click on it and it is immediately installed on the chart.

What is the template used for?

This is a handy thing. For example, in a trading strategy, several indicators are implied, and each has its own individually selected settings that differ from the standard ones.

And so that each time you open the terminal you don’t have to install or configure them again, all this can be saved into a ready-made template, so that later you can simply open the chart and drag it onto it.

You can save your template by choosing, for example, a convenient color scheme or some of your own parameters for indicators. But if you are a beginner, then it is not recommended to change anything.

To save your template, when you right-click on the chart, a menu opens, point to "templates" and in the drop-down list at the very top there will be a tab "Save template ..." → click, enter the name of the template and save.

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