EX4 is a file extension used by MetaTrader 4 (MT4), a popular platform for online trading in the financial market. EX4 files are executable files used to run expert advisors (EAs) and custom indicators in MT4.

EAs are automated trading systems programmed to buy or sell assets based on specific criteria. They can be created by traders or programmers and then tested and optimized in MT4 before being used in live trading.

Custom indicators are also commonly used in MT4. They are mathematical calculations based on price and/or volume data that can help traders identify potential entry and exit points for trades.

EX4 files are created by compiling the source code of EAs or custom indicators written in Metaquotes Language 4 (MQL4), the programming language used in MT4. The compiled file contains the code converted to machine-readable language, making it faster and more efficient for the computer to execute.

One advantage of using EX4 files in MT4 is that they can be easily shared and installed by other traders. Traders can download and install an EA or custom indicator from a website or forum, and then use it in their own MT4 platform.

However, it’s important to note that not all EX4 files are created equal. Just like any other software, they can be malicious or contain errors that could harm a trader’s account or computer. Therefore, it’s important to only download and use EX4 files from reputable sources and to test them thoroughly before using them in live trading.

In summary, an EX4 file is an executable file used to run expert advisors and custom indicators in MetaTrader 4. They are compiled from MQL4 source code and can be easily shared and installed by other traders. However, caution should be taken when downloading and using EX4 files to ensure they are safe and effective.