Part 10 Meta Trader 4 Show – Creating templates

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Part 10: Meta Trader 4 Show – Creating templates

Not too long ago I’ve received a question about Meta Trader 4. Well, the reader needed an advice on the following problem: When I open a new graph, it always…

Part 9: Meta trader 4 Show – Indicators to download

I’ve created a page where you can find a list of all the indicators that I use myself or used at some point when trading binary options. But also some…

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The use of charts is an essential component of technical analysis. However to use charts effectively, you need to add various other tools of technical analysis. On the MT4, you will find various tools, indicators, scripts and objects. It can become a very boring and dreary affair to keep adding these tools and indicators afresh whenever a new chart is opened. In order to make the process easier and enable traders avoid the dreariness of repeatedly adding the same set of indicators to a new chart, the Metaquotes team developed the Templates function on MT4.

Whenever a trader adds tools or indicators to a currency chart, that trader is indirectly creating a customized set of technical analysis tools on the chart. These customized specifications can be saved for future use on the MT4 platform without having to readjust the settings of whatever indicators have been added all over again. The function which controls this process is the Template function. In other words, users of the MT4 can use the Template function to

Templates on MT4: What are they ?

A template can be defined as a collection of parameters for currency charts which can be duplicated for application to other charts. By this definition, the following parameters can be stored as template files:

  • Indicators
  • Line and Fibonacci tools
  • All settings for indicators, tools and objects such as chart type (bar, line or candlesticks), colour, grid lines, chart scales, expert advisors (along with their settings), day separators, etc.

Templates are usually stored in the /templates subfolder or directory of the MT4 client as .tpl files. After creation or addition of a template file, the file can be added to another chart to replicate the same settings in the original chart, thus saving the trader time and effort spent on setting up the same tools and indicators (along with their settings) over and over again.

The MT4 platform usually comes with some default templates as shown below:

How to Create a Template on MT4

This function is useful when you want to create a template for your own strategies. It is assumed that you have acquired some trading experience in order to do this. To create your own customized template, follow the steps listed below:

  1. Open any currency chart of your choice.
  2. Attach the tools, scripts, objects and indicators that will form part of your technical analysis strategy, and adjust the settings according to your preference for each tool or indicator you have added.
  3. Right-click on the chart you have opened, then click on Template -> Save Template. Assign a file name to the Template, then click “Save”. This saves your tools and indicators, along with all settings in a template file with suffix “.tpl”.

How to Add a Template to MT4

It is not all the time that you would want to create your own template. Sometimes, you may fancy a template which has been created by someone else. This is usually the case when you may want to use a strategy created by another trader and would not want to take the pains of having to replicate the elements of the strategy on your own MT4 client. In this case, adding the template files of such a strategy to your own MT4 client is the way to go. All you need to do is to copy and save the template file(s) to a physical storage device such as a flash drive or to an external storage system such as a cloud storage. You can then follow the steps listed below to add the template (.tpl) file to our MT4 client:

#1. From the source area where the template file has been saved, copy the .tpl file.

#2. Open your MT4 client, then click on File à Open Data Folder

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#3. When the MT4 data folder opens on your computer, click on the subfolder marked “Templates”, then paste the copied .tpl file to this subfolder.

#4. To see this template file, you need to restart your MT4 client. Simply close the MT4 instance and reopen it again. The template file can then be visualized when you click on Charts -> Template.

Loading a Template

You now have access to the template you have copied and saved in the template subfolder. In order to use it, you now have to load it to the chart.

#a. Load the currency chart you want to install the template on, then right click on that chart. Use your mouse cursor to scroll down the drop down menu, then click on “Template”. You can also perform this function by clicking “Charts -> Template -> Load Template

#b. Clicking “Load Template” will open the Template subfolder in your MT4 client on your computer as a dialog box.

#c. Double click on the template you want to load and this will be loaded on to the currency chart.

Installing indicators and templates on mt4

Hi Guys,I have not been on here or mt4 for a while and it seems I cannot put indicators on mt4 or templates any more ,has things changed?

All files have been moved to new location on your computer with mt4 builds after 600

You can find these folders via the open metatrader platform,
File>Open Data Folder> for templates & profiles

Experts, Scripts & Indicator folders are within the MQL4 folder

  • Post # 3
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  • Nov 7, 2020 10:15am Nov 7, 2020 10:15am
  • Post # 4
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  • Nov 7, 2020 12:15pm Nov 7, 2020 12:15pm

The main reason they had to do this, is to make money selling products & signals via the market & signals tabs below in the terminal window.

Also the huge failure of uptake of the latest MT5 platform, so a slow merging of MT4 to MT5 had to happen.
As a compromise they had to retain the usability of ex4 files of older MT4 codes, as the new MT4 compiler would not compile properly anymore.
Hence all the old MQ4 indicators, scripts & EA’s will need to be rewritten in the new MQL4 language to work.

I imagine at some point they will switch off either MT4 or MT5.

The new location of files is the main gripe, as they are now hidden and have to be accessed through the platform via “Open Data Folder”.

I don’t understand ” I am still lost”. Is it how to place files in MT4 or something else ?

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