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In MT5, indicators calculate and display information based on price or volume data. Scripts run a task once, such as submitting or closing an order if programmed to do so. Find both in Navigator (Ctrl+N) and attach them to a chart. Only use custom code from sources you trust.

Open the Insert menu in MetaTrader 4 (MT5), choose Indicators, and pick from categories like Trend, Oscillators or Volumes, for example Moving Average or RSI. Alternatively, drag it from the Navigator window (Ctrl+N) onto the chart. Adjust the parameters in the dialog that appears, then click OK. To edit or remove it later, right-click the chart and open the Indicators List.

To add a custom indicator in MetaTrader 4 (MT5), open File then Open Data Folder, place the .ex4 or .mq4 file in the MQL4\Indicators folder, then restart MT5 or right-click Navigator and choose Refresh. The indicator appears under Custom Indicators in the Navigator, ready to drag onto a chart. Only install files from sources you trust, as custom code runs on your platform.

An MT5 indicator calculates and displays information but does not place trades directly. A script runs a programmed task once and can submit trade requests if enabled. An Expert Advisor runs on a chart and can monitor conditions and manage orders automatically when trading permissions are enabled.

Copy the EA into MQL4\Experts via File > Open Data Folder, then refresh Navigator or restart MT5. Attach it to a chart, enable AutoTrading and Allow live trading, and check any required account or broker permissions. Test on demo first, but expect live spreads, slippage and execution to differ.

Yes. MetaTrader 4 (MT5) includes the MetaEditor tool, which uses the MQL4 programming language to build custom indicators, scripts and Expert Advisors. Open MetaEditor from the toolbar or press F4, then create a new program and compile it so it appears in the Navigator. Building reliable custom tools requires programming knowledge, and you should always test them on a demo account before any live use.