use purchased custom indicator in ex4 format

Dear all,

 

I have bought a custom indicator from the MQL5 market for the Metatrader 4 platform. It is not provided as mq4 file but only as ex4 file. I would like to use it in my EA and I have understood from the user manual that this should be possible.

 

I have copied the custom indicator file (ex4) into the EA Wizard directory and it is also located in the Metatrader 4 directory (..\indicators\markets). I have defined the custom indicator’s input and output values as described in the manual. The custom indicator shows up and down arrows in the chart and each up/down field includes the price  of the long/short signal.

 

I then created an EA which should go long/short according to this indicator’s signals. So I entered the condition: IF custom indicator Up field > 0 then go long and vice versa. However, it does not work. There is no error message, it simply does not do anything.

 

Have I misunderstood something? Can anybody give me a hint?

 

Thank you very much in advance.

 

Best regards

Thorsten

toe78, the better if you send the indicator file to our email [email protected] or also you can use the private section of  forum https://strategyquant.com/forum/forum/22-private-support/if you don’t want to share your tool. I will test it and try to make an example how to use it

Thanks a lot for your answer. I will send the file to you, but there is another doubt I have. The indicator I have talked about is a rented indicator, so it is saved in the “market” directory of Metatrader 4. Is it possible to use rented indicators with EA Wizard?

as long as you’ve got ex4 (better mq4) file there should not be a problem to use the indicator

A rented indicator will be precluded from operating on a different computer by Metaquotes coding