AlienTrader Pro: Installation Guide

TABLE OF CONTENTS:

Important Note:

The demo version available on the product page is restricted by MQL5 to work only in the Strategy Tester. For a more hands-on experience, we recommend downloading the demo version provided in this blog post. Unlike the product page version, this demo works outside the Strategy Tester on demo accounts, allowing you to test the tool in real-time conditions.

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1. Installing the Purchased Version

Step 1: Log in to Your MQL5 Account

1. Launch your MetaTrader platform.
2. Click on the profile icon.
3. Enter your MQL5 account username and password.
4. Click OK to log in.

Step 2: Access the Market Tab

• For MT5 Users:
• Open the Market tab within the Toolbox.  (If the Toolbox panel is closed, go to View > Toolbox to open it.)
• Go to the Purchased sub-tab to view your purchased products.

• For MT4 Users:

  • Open the Market tab within the Terminal.  (If the Terminal panel is closed, go to View > Terminal to open it.)
  • Go to the Purchased sub-tab to view your purchased products.

Step 3: Install AlienTrader Pro

1. In the Purchased list, locate AlienTrader Pro.
2. Click Install next to the product name.
3. Wait for installation to complete. A confirmation message will appear once done.

Step 4: Attach AlienTrader Pro to a Chart

• Enable Automated Trading:

  • MT5 Users: Ensure the “Algo Trading” button on the toolbar is enabled (green).
    
  • MT4 Users: Ensure the “AutoTrading” button on the toolbar is enabled (green).
    

  Note: This setting allows the tool to execute trading actions. Without enabling this property, the tool’s trading features will remain inactive.

• Locate and Attach the EA:

  • In the Navigator panel, find AlienTrader Pro under Expert Advisors > Market. (If the Navigator panel is closed, go to View > Navigator to open it.)
  • Drag it onto the chart of your desired trading instrument. 

• Enable Trading:

  1. After dragging the EA onto the chart, the settings window will appear.
  2. Go to the Common tab and check the box labeled Allow live trading.
  3. Adjust parameters in the Inputs tab as needed.
  4. Click OK to apply the settings.

Congratulations! You should now see AlienTrader Pro on the top right corner of your chart, ready to assist with your trades.

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2. Installing the Demo Version

Step 1: Download the Demo File

This demo version of AlienTrader Pro offers full functionality but is limited to demo accounts and the EURUSD pair for 7 days.

Step 2: Locate the Experts Folder

1. Launch your MetaTrader platform.
2. Go to File > Open Data Folder.
3. For MT5 Users: Navigate to MQL5 > Experts.
   For MT4 Users: Navigate to MQL4 > Experts.
4. Copy the downloaded demo file (.ex4 for MT4 or .ex5 for MT5) and paste it into the Experts folder.
5. Close the file explorer and restart MetaTrader.

Step 3: Attach the Demo to a Chart

• Enable Automated Trading:

  Note: This setting allows the tool to execute trading actions. Without enabling this property, the tool’s trading features will remain inactive.

• Locate and Attach the Demo EA:

  • In the Navigator panel, find AlienTrader Pro Demo (or the name under which you saved it) under Expert Advisors. (If the Navigator panel is closed, press Ctrl+N or go to View > Navigator to open it.)
  • Drag it onto the chart.

• Enable Trading:

  1. When the settings window appears, go to the Common tab and check the box labeled Allow live trading.
  2. Adjust parameters in the Inputs tab as needed.
  3. Click OK to apply the settings.

Congratulations! You should now see AlienTrader Pro in the top-right corner of your chart, ready to explore its features on EURUSD in demo mode.

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Need Help?

If you encounter any issues during installation or setup, feel free to:

• Reach out via the Comments section of this blog post.
• Send us a private message via our MQL5 profile.

Enjoy trading efficiently with AlienTrader Pro!

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