The latest MT4 version 4.00 Build 574 (10 Jan 2014) introduces a lot of new features and improvements for the old MT4 platform, however there will be certain compatibility issues with EAs and indicators written for previous builds (i.e. Build 509 back from June 24th 2013). Users should also be aware that the location of the old \experts\ folder has been moved to a new location. Previously, all MQL4 applications have been stored in subdirectories of <terminal_installation_folder>\experts\ folder and now these will be accessed from a completely different location:
- \experts – Expert Advisors (trading robots),
- \Indicators – custom indicators
- \Scripts – scripts (MQL4 applications for a single run on the chart)
- \include – source code MQH and MQ4 files implemented into other programs
- \libraries – libraries in the form of MQ4 source codes and EX4 executable files compiled from them. They are used for the dynamic call of the functions contained there by other MQL4 programs
- \Images – image files for using in resources
- \files – special “file sandbox”. MQL4 applications are allowed to execute file operations only within this directory.
This also concerns Builds 577 (24 Jan 2014) through 600, plus all later updates such as 603, 604, etc.
Once MT4 is automatically updated from build 509 to the newer version, all MQ4, MQH and EX4 files will be relocated to the appropriate folders listed above, but any user created sub-folders and files will need to moved by hand to the appropriate locations after the update is done. Otherwise your custom indicators and plug-ins such as Renko, Range and MedianRenko charting packages will not work.
How to locate Metatrader’s data folder?
The easiest way to find the data folder is to open MT4, click on the File / Open Data Folder menu item:
The origin.txt file contains the path to your MT4 installation folder. You can view this file to verify that this folder is indeed the correct one for your MT4 installation. The presence of the origin.txt file in your data folder also indicates that MT4 is using an external data folder!
Now that you know where your data folder is, you can begin copying the files that need to be placed in the new location (data folder’s MQL4 sub-folder).
How to get RangeBars and other custom plug-ins working correctly with this MT4 build?
It is best to install the custom charting package with MT4 build 509, prior to the update to 574 and beyond. This way all the files will automatically get relocated once MT4 is updated (the release of the new build is scheduled by MetaQuotes for February 3rd 2014, but different brokers will probably provide the update sooner or some time after this date. ).
The plug-ins designed for the latest build (at the time of writing this post it is Build 577) can be easily identified by the _b574 suffix in the indicator’s file name. These will be placed in your <terminal_installation_folder>\MQL4 folder after you run the update scripts for individual plug-ins or if you download and install the latest custom charting plug-ins.
Please note that these compilations will only work correctly with MT4 build 574 and above. They are not compatible with build 509 or below just as the files without the suffix are not compatible with builds 574 and higher.
Indicators without the _b574 suffix are designed for use with MT4 builds up to 509 (20 Jun 2013). They are distributed for backward compatibility purposes only.