The .mq4 file is the "human-readable" version of a trading robot (Expert Advisor), indicator, or script. Written in MetaQuotes Language 4 (MQL4), it contains the actual logic, variables, and mathematical formulas that dictate how a program reacts to market data.
If it says your .ex4 file is automatically created in the same folder. mq4 to ex4
file specifically to protect their intellectual property and keep their trading logic private. Where to Put the Files file specifically to protect their intellectual property and
[YourFileName].mq4
| Aspect | MQ4 (Source) | EX4 (Compiled) | |---|---|---| | Editable | Yes | No | | Human-readable | Yes | No (binary) | | File size | Smaller (text) | Larger (bytecode) | | MT4 execution speed | N/A (must compile first) | Fast (direct execution) | | Reverse-engineerable | Trivially | Very difficult (legally/technically) | it contains the actual logic