Decompile my what? I hear you say. That’s right, decompile MQL EX4 and before you start dialling for the authorities, let’s clear up any possible misunderstandings – what is it, how would you do it, should you even touch it, eww!
If you’re using automated trading on MT4 you’ll already have an inkling on what we’re on about. If you’re not familiar with it, then auto trading allows you to respond immediately to market changes and to simultaneously trade multiple accounts or deploy diverse trading strategies to hedge risks. Doing this manually would be incredibly challenging and time consuming, but automated trading does this in a fraction of a second.
MetaTrader is a highly powerful and flexible platform. The code for this is written in the MQL language and the scripts or indicators are stored in a file with the EX4 extension. If you’re on the MetaTrader platform, you may be using Expert Advisors (EA) for automating analytical and trading processes. The entire EA program code is also stored on an EX4 file.
While MetaTrader gives you a host of tools to customize trading according to your preferences, sometimes you may have trouble using an indicator exactly the way you want. This is when you may consider decompiling MQL EX4 and make changes to the indicator or the EA.
Maybe your computer recently crashed, erasing certain source codes. You may experience that the performance of your MetaTrader is not as it was earlier. You may feel the need to decompile MQL EX4.
Decompiling is breaking down the compiled source code in a file to be able to view the contents. The need to decompile MQL EX4 stems from the fact that such files are not in human readable format. If you open it, even in the MetaEditor, all you will see are squiggles or gibberish. By decompiling MQL EX4, you can access the original source code in a readable format, which can then be modified to suit your purpose.
The importance of an indicator functioning properly and giving you the results you want cannot be debated. However, if there’s something you desire from the indicator, don’t be in a hurry to download tools to decompile MQL EX4. To begin with, doing so is unethical, since it is someone else’s code. Most often, you (or a programmer) may be able to program an MQL indicator without changing the source code, by using the iCustom function. This is a legitimate way to achieve what you desire, rather than an unauthorized change to the code.
Decompiling MQL EX4 to remove license restrictions or to use the code in some other program are clearly illegal.
Having said all that, if you’re convinced that you need to decompile MQL EX4, it may be a good idea to hire a freelance programmer than to download a tool to achieve this purpose. When you do seek professional help, enquire about support and whether the team would be available for bug fixing, so that your modified indicators work smoothly.
While there are many options to decompile MQL EX4, none of them are without risk, even if we leave aside legal and ethical issues. Moreover, it’s important to identify a decompiler that is appropriate for your MetaEditor version and EA.
So that’s it. Simple right. To decompile or not to decompile – that question is up to you.
If you liked this educational article please consult our Risk Disclosure Notice before starting to trade. Trading leveraged products involves a high level of risk. You may lose more than your invested capital.