How to set up PineConnector on MetaTrader 5 (MT5) • Auto-Trade on MT5 With TradingView Alerts!

How to set up PineConnector on MetaTrader 5 (MT5) • Auto-Trade on MT5 With TradingView Alerts!

hi traders so in the previous video i
showed you how to set up pine connector
with metatrader4
in today's video we're going to cover
the exact same steps for benetrader 5.
so this is my pepperstone demo account
client area
this broker offers metatrader5 so now
i'm going to download
metatrader5 and go through all of the
steps we did in the previous video where
i showed you how to set this up for
metatrader4
the steps are very similar so i'm just
going to save this file to my downloads
folder
then i'm going to install metatrader5
just to the default directory
and click finish close this webpage
and metatrader5 is installed now i just
need to log
in to do that i just click file login
to trade account then you need to find
your broker's server
mine's already listed here so i can
click next
and then log in with an existing trading
account
paste over my id and my password
select the right server here click
finish
and we're in so just to make sure this
is working i'm just going to buy
a euro dollar just 0.01 lots
there we go working perfectly fine
so now let's close this trade and
install
pine connector the steps are identical
to metatrader4
the first thing we need to do is open up
our data folder so
file open data folder open up mql5
open up experts now this is where we
need to paste our
expert advisor file so let's go over to
the pine connector
website click on download mt5ea
save that to my downloads folder then
browse to that folder
cut this file and paste it into
my experts folder here now i need to
close metatrader5 and reopen it so that
the platform can
load that script metatrader5
now when we open up this little drop
down box
the pie connector ea should be in there
there we go
now it's the same steps as before i can
close all of these windows
maximize this one now before we add this
to the chart we need to
come up to tools and then options and
adjust some of these settings
we need to go to the expert advisors tab
and
then we need to allow algorithmic
trading and allow
dll imports now these other settings are
optional
i'm going to untick them now we can
click ok
and now we can add the ea to our chart
if this window isn't open for you just
press ctrl
n right click on the pi connector ea and
click attach
to chart then we need to make sure that
allow dll inputs
is enabled then we need to go to the
comments tab
and make sure allow our go trading is
enabled
then finally we need to go to the inputs
tab and paste
in our license id into this text box
here
so to do that we need to go back to our
account page on the pi connector website
copy this license id here
and paste that into that text box there
and then the next thing i need to do is
change my target type
to based on price and my volume type
to percentage of account balance
click ok and there we go if you have
this message up here that means that the
expert advisor was successfully
installed onto the platform and this
date is your expiry date for your free
trial so now we can go over to trading
view and test
our command i'm just going to test the
same command that we wrote
out in the previous video or previous
lesson covering how to set up
metatrader4
the syntax alert syntax is identical
between mt4 and md5
so let's jump over to the trading view
platform
and this time i'm on aussie dollar just
for something a little bit different
i've changed my ticker to aud usd
my risk to one percent of my account and
my stop loss is at 74 cents
and take profit at 76 cents now remember
you will need to change your ticket id
based on whatever your platform
however your platform handles your
ticker ids if you've watched my previous
video lesson on metatrader4 you'll know
that
my ticker ids over there ended with a
dash 2.
so whenever i sent the ticker symbol to
pi connector i had to add a dash 2 onto
the end of my
symbol this particular broker pepper
stone does not have that
formatting i can just send the standard
ticker id
to this platform if the market you want
to trade
isn't listed here just press ctrl u and
that will bring up the
symbols list now you can see that pepper
stone have a much better organized
group grouping name convention compared
to
the oanda metatrader4 platform that was
a mess
now you need to make sure that the
symbol you want to trade has this yellow
little dollar sign next to it so for
example if you wanted to trade euro
aussie
i would need to double click on this to
enable trading on this instrument
in this case i'm trading a major pair
aussie dollar which is already enabled
but just make sure that you write out
the right ticker id
here if you have weird symbols after or
before the
symbol name or the actual ticker make
sure to include that
in your alert message all right so now i
can click save
and let's see if the alert will work
there we go the alert just fired
and i have an error so i was doing some
testing earlier
and i'm not sure what is causing this
error
if we open up the point connector
documentation scroll down to the very
bottom and click
on errors if i click on that and scroll
down to the meta trader 5
error codes section you can see the list
of errors here
and their value i'm getting error 4756
which means trade request sending failed
and this is apparently commonly caused
by an unsupported
filling mode uh if this is the case then
i need to download a different copy of
this expert advisor or no prices
which means the symbol was not
highlighted in yellow in symbol list
my symbol is definitely highlighted in
yellow so i'm guessing i'm getting this
error here i'm not sure what causes this
error and the reason i've
left all of this in this video even
though i'm getting this error is because
it's possible that your version of the
latest ea
does not have this problem on whichever
platform and broker you're trading
through
but for me in order to fix this error i
need to click
on download this copy of the ea which is
a different version of this pi
connector expert advisor you can see
that it's 2.025 instead of 2.03
so i'm going to save this file into my
downloads folder i'm going to come back
to metatrader close this error window
and i'm going to delete the
pi connect.mt5 203 file so just delete
that expert advisor click yes
close metatrader open up my downloads
folder
find this new metatrader5 expert advisor
file here
the 2.025 i'm going to cut that
open up my experts folder for mt5 and
paste that in here
and now i need to do all of these steps
again so i need to
open up metatrader 5 again
now you can see that this expert advisor
has been loaded the 2.025 version
i'm going to just quickly open up the
aussie dollar market on my chart and now
i need to do all of these steps again so
i need to
click on pi connector right click attach
to chart
i need to make sure allow dll imports is
selected then i need to make sure that
allow algo trading is enabled
then i need to go to inputs and paste my
license id
in here so let me go back to my account
page copy this number here open up
metatrader and paste it into my license
id
now i'm also going to change my take
profit to be based on price
and my volume type to be based on my
account balance percentage of account
balance
now if i click ok that should add this
expert advisor to the chart you can see
the expiry date up here
showing that means that the installation
was successful
now when i run my trading view alert
this
should work with this version of the
expert advisor
so let's go back to trading view and
re-save this alert i'm going to click
save
open up metatrader and there we go
this alert worked you can see that the
platform just opened up a buy position
on aussie dollar
with the with opening price of 75406
stop loss of 74 cents take profit of 76
cents
and we have a 0.07 volume
or around 7 000 units which amounts to
roughly 1
of a 10 000 us dollar account balance so
that will do it for the metatrader 5
setup guide for pine connector i will
see you in the next video where we will
test a bunch of
different alert commands through the
platform now if any of this was
confusing to you
do make sure to go to the point
connector website
and read through these setup guides if
you get any weird error codes
make sure to scroll to the bottom of the
page click on errors
and there should be a description for
each error code
that you might get and of course if you
run into any problems that you
can't solve yourself make sure to send a
message to the pine connector
support team by just clicking on this
little message box here
and the team will help you with any
problems you have anyway i'll leave it
there take care best of luck with your
trading and i'll see you in the next
lesson