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Frequently Asked Questions

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These answers are for BananaEA Version 4. The latest stable Version 4 release is v4.5.1. Version 5 is documented separately as the current release.

What is the current Version 4 stable version?​

The latest stable Version 4 release documented here is v4.5.1.

Version 5 is the current new release and has its own documentation, setup, and presets.

Is BananaEA for MT4 or MT5?​

BananaEA is documented here as a MetaTrader 4 Expert Advisor.

If you are using another platform or a different product, confirm with support before following these steps.

Where do I get the official download?​

Use the official download link from your member area, purchase email, or support team.

Do not install files from unofficial sources.

What files do I need?​

A typical BananaEA package may include:

  • The main BananaEA.ex4 file.
  • Support library files, if provided.
  • Preset .set files for specific symbols or timeframes.
  • Any included license or backtesting files.

Use the package instructions that came with your download. File names can change between versions.

Where do I install BananaEA?​

Install the EA into the correct MT4 data folder.

In MT4:

  1. Open File > Open Data Folder.
  2. Open MQL4.
  3. Put the EA file in Experts.
  4. Put library files, if supplied, in Libraries.
  5. Put preset files, if supplied, in Presets.
  6. Restart MT4 or refresh Navigator.

Why do I not see BananaEA in Navigator?​

Check these items:

  1. The file is in MQL4/Experts, not MQL4/Indicators.
  2. MT4 was restarted or Navigator was refreshed.
  3. You selected the data folder from the same MT4 terminal you are using.
  4. The file was not blocked by Windows security.

Why is BananaEA not trading?​

Common causes:

  • AutoTrading is off in MT4.
  • The EA is paused or in Trade Management Mode.
  • The market is closed.
  • Spread, time, session, risk, or signal filters are blocking entries.
  • The account does not allow trading.
  • The symbol or preset does not match the chart.
  • There is an error in the Experts or Journal tab.

Start with Troubleshooting.

What is Trade Management Mode?​

Trade Management Mode lets BananaEA manage existing trades without opening new strategy trades.

This is useful if you want help with stop loss, break-even, trailing stop, or partial close behavior while keeping manual control over entries.

Should beginners use live trading immediately?​

No.

Start with demo trading and Strategy Tester. Confirm that you understand:

  • The preset you loaded.
  • Lot sizing and risk percentage.
  • Stop loss and take profit behavior.
  • What the dashboard is showing.
  • How to stop or remove the EA.

How should I choose risk settings?​

Use conservative settings while learning. The risk setting controls how much account equity can be exposed per trade when percentage-based lot sizing is used.

Do not increase risk to recover losses. If results are confusing, reduce risk, return to demo, or stop trading until the setup is understood.

Are backtest results guaranteed?​

No.

Backtests are historical simulations. They can be useful for learning and comparison, but they do not guarantee future performance.

Live results can differ because of spread, slippage, execution speed, broker rules, market conditions, and platform connection quality.

Why does my backtest chart only show one to three months of data?​

MT4 may not have downloaded older chart history yet, or the broker server may not provide more data for that exact symbol and timeframe.

For DAX/GER40 backtests, first increase MT4 chart history limits, then open the exact broker symbol and scroll left on the chart to request older bars. Use broker-server history where possible. Generic DAX, public charting, or third-party data can help with research, but it will not be identical to your broker's CFD feed.

See Historical Data For Backtesting.

Which broker should I use?​

Use a broker that supports MT4, has stable execution, and provides symbols compatible with your preset files.

If a preset is designed for a specific symbol or broker naming convention, confirm that your chart symbol matches the intended market.

Can I use multiple charts?​

Yes, but use care.

Each chart should have clear settings, and Magic Numbers should not conflict unless you intentionally want the same trade group managed together.

What should I include when asking for support?​

Include:

  • BananaEA version.
  • Broker and account type.
  • Symbol and timeframe.
  • Screenshot of the chart.
  • Screenshot or copied text from the Experts tab.
  • Whether you are on demo, live, or Strategy Tester.
  • The preset file name, if one is loaded.

Where should I ask for help?​

Use the support options in Support.

Discord is useful for practical setup questions and community learning, not only formal support tickets.

Is BananaEA financial advice?​

No.

BananaEA is trading software. You are responsible for your own trading decisions, account risk, broker choice, and platform monitoring.