If you use an MT4 platform to trade on, then the simplest technique is to have the Calculator automatically install our software bridge (called “mt4equity.dll”) to have equity automatically filled in for you. Each MT4 platform you are trading on will need to have its own bridge installed, so follow this technique for each one you want to trade with. This is a one-time installation for each MT4. Once you’re set up with your MT4 you won’t need to follow these steps again.
There are 5 steps to go thru within the Calculator and a few steps to go thru within your MT4:
STEP 1) Select Equity From Settings
To initially set up auto-update, begin by going to the Settings menu at the top of the Calculator (not the Settings tab – look for the menu above the tabs). From the Settings menu choose ‘Equity’.
Step 2) Read the intro about the process
Step 3) Pick your MT4 brokers
Your window will only show the MT4 platforms that are on your own computer. The image below is an example from a user who happens to have 8 MT4 platforms installed; yours may only have 1 or 2.
If you have an MT4 installed on your computer but do not see it listed in this step of the process, use the + button to manually navigate thru your computer to find the MT4.
The file that is installed by the Calculator is very small and doesn’t get in the way of any other processes, so you don’t need to worry about un-installing it when you are done with that broker – but if you want to, simply UNcheck √ the box next to that brokers name and it will be automatically removed for you.
All brokers with a check mark next to them will have the Calculator bridge installed in the next step of the process.
Note: because this bridge can’t be installed onto a web page, the Calculator cannot work with web browser MT4 platforms. Download the MT4 program to your own computer.
Step 4) Confirm what’s about to happen
This next step is simply confirming what’s about to happen. It’s also forewarning you that you may need to give Windows permission to install the bridge file, so make sure to hit agree if you see it asking for that.
Step 5) Read The Instructions
You will then see the following screen:
Now Go To Your MT4 Platform…
Step 6) In MT4, Allow DLL imports
The next step will be to close then re-open your MT4 platform, so the dll software is seen by the program. Then go to the Tools > Options menu, or enter Ctrl+O, like this:
Click the tab at the top of the options dialog for Expert Advisors and check on √ to “Allow DLL imports”:
Step 7) Find the mt4 equity in the Navigator
Open the Navigator panel of your MT4 (Ctrl + N) and click to open the sub-menu for Expert Advisors. You should then see the mt4equity. (If not, try closing your MT4 then re-opening it).
Step 8) Drag the mt4 equity onto ONE chart
Pick a chart that you always have open to drag the mt4equity onto. If you like you can minimize the chart, but if you close the chart then the equity changes from your MT4 will not be updated by the Calculator.
When you drag the mt4equity onto the chart for the first time you will get a confirmation window – just click OK.
Look for the mt4equity to then show up in the upper right corner of your chart window:
The bridge software will work whether the little face is smiling or frowning, ☺, ☹. If you see an X beside mt4equity, then review step 6 above.
Step 9) Further Important Notes for MT4
- Only put the mt4equity onto ONE chart per PROFILE
- Keep one chart with mt4equity open all the time
- If you open other profiles, establish one chart that has the mt4equity on it
- If you use other Expert Advisors (EAs) then put the mt4equity on its own chart (because one chart can only have one EA) and simply minimize it if you don’t want to watch it.
- Watch out if you create a template with the mt4equity on it so you don’t accidentally apply the bridge to more than one chart at a time.
- If you need to remove the mt4equity from a chart, right-click on the chart and choose Expert Advisors > Remove.
Step 10) If you don’t see your Calculator now updating equity…
Simply close the Calculator and re-open it.