EA (Expert Advisor) is a program coded in MQL5 and running in MT5 terminal. It's main purpose is to execute trades automatically according to built-in logic.
To install correctly an MT5 Expert Advisor (EA) you should place the files (ex5 or mq5) in the right folder. Follow the steps below for installing the EA correctly:
1. Go to ‘Open Data Folder’ command in ‘File’ menu of the MT5 Terminal. You can also press [Ctrl+Shift+D].
2. Open ‘MQL5’ folder.
3. Open ‘Experts’ folder.
4. Place there the file with extension ‘ex5’ or ‘mq5’ or both of them.
5. Restart the MT5 Terminal (Close it and open it again). Locate our EA under Navigator window of the client terminal:
Note, mq5 file is a source code file. MT5 terminal compiles all mq5 files at the start, so you get executive file (ex5). Normally, it is enough to copy mq5 file only. ex5 file to be copied only in case there is no respective source code file (mq5).
Now your EA is installed and it’s ready to be used in your charts.