Installing an Expert Advisor (EA) in MetaTrader 5 takes about five minutes once you know where the files go. This guide walks through every step, including the two settings beginners most often miss: Algo Trading and WebRequest permissions.
If you're setting up the 20PipBot, these are the exact steps to get it running.
Step 1: Open the data folder
In MetaTrader 5, click File → Open Data Folder. This opens the hidden folder where MT5 stores everything. You'll use this for every EA you ever install, so it's worth remembering.
Step 2: Copy the EA into the Experts folder
Inside the data folder, navigate to:
MQL5 → Experts
Copy your .ex5 (compiled EA) or .mq5 (source) file into this Experts folder. That's it —
the file is now installed.
Step 3: Restart or refresh MetaTrader 5
Back in MT5, find the Navigator panel (Ctrl+N if it's hidden). Right-click Expert Advisors and choose Refresh. Your EA should now appear in the list. If it doesn't, restart MT5 entirely.
Step 4: Attach the EA to a chart
Open a chart for the symbol you want to trade — for the 20-pip challenge, that's usually EUR/USD, GBP/USD, or USD/JPY. Then drag the EA from the Navigator onto the chart (or double-click it).
A settings window opens. On the Common tab, make sure Allow Algo Trading is checked.
Step 5: Enable Algo Trading globally
There's a master switch too. In the MT5 toolbar, the Algo Trading button must be green/active. If it's off, no EA will place a single trade no matter what. This is the #1 reason a freshly installed EA "does nothing."
A smiley face in the top-right corner of the chart means the EA is loaded and Algo Trading is on. A sad face or a small
×means trading is disabled — check the Algo Trading button.
Step 6: Allow WebRequest (for AI / license features)
If your EA contacts the internet — for example to run an AI confirmation gate or validate a license — you must whitelist the URLs it uses:
- Go to Tools → Options → Expert Advisors.
- Check Allow WebRequest for listed URL.
- Add the exact URLs your EA needs (your setup guide lists them).
Without this, web-enabled EAs fail silently or throw a 4060 error.
Step 7: Enter your inputs and license key
Reopen the EA settings (right-click the chart → Expert Advisors → Properties, or press F7). On the Inputs tab, paste your license key and set risk parameters. For the 20-pip challenge, mind your lot sizing and risk per trade before you go anywhere near a live account.
Step 8: Test on demo first
Before risking real money, run the EA on a demo account for at least a few sessions. This confirms it behaves as expected with your broker's spreads and execution. See our guide to testing the 20-pip challenge on demo.
Common installation problems
| Symptom | Fix |
|---|---|
| EA not in Navigator | Refresh Navigator, or restart MT5 |
| Sad face on chart | Enable the Algo Trading button in the toolbar |
| EA loads but no trades | Check session window, spread filter, and Algo Trading |
4060 / WebRequest error | Whitelist the URL in Tools → Options → Expert Advisors |
| "Trading disabled" message | Allow Algo Trading on the EA's Common tab |
Once installed, the EA runs whenever MT5 is open. To keep it trading 24/5 without leaving your PC on, see our guide to running a VPS for an MT5 trading bot.