Sorry for the silly questions but can someone either explain or direct me to web sites that explain the difference between *.ex4 and *.mq4 and how and why a template is used?
Thanks
As far as I know…and this is just an educated guess… the difference between ex4 and mq4 is that one file holds all the guts of the indicator…like how PSAR is calculated. The other one hold all the personal settings that the user sets.
And a template is usually used so that you don’t have to apply all your custom trading settings every time you either reinstall mt4 or when you open up a new chart. It’s very convenient actually.
The .mq4 file contains the source code for your indicator or expert advisor (look at it in a text editor and you can see how it works!). The .ex4 file is the compiled version of the .mq4 file.