Lot of newbie users ask me about how to install indicators in Metatrader. The following guide will help you to get your indicators working for sure
1. First of all, remember there are 2 possible formats (extensions), .mq4 (source code) and .ex4 (compiled version of the code).
2. Copy the mq4/ex4 file into your C:\Program Files\<MetaTrader 4 folder>\experts\indicators folder. If you can't find that folder or have problems copying the file, remember to execute Windows Explorer with Administrator rights.
3. Close your MetaTrader application (assuming it's currently open... if not just ignore this step)
4. Launch MetaTrader. On the left hand side, look for the "Navigator" window. If you can't find it go to View->Navigator menu or press Ctrl+N.
5. Under the Navigator tree, look into the "Custom Indicators" directory
6. Locate the indicator which you have just downloaded into the folder in Step 2
7. Click and drag the indicator onto the chart
8. Then you got it!