METATRADER TO QUANTOWER TRADER COPIER
This is the user guide for 'MT4/MT5 to Quantower' trader copier.
Quick Notes:
1. This copier suite consists of three components:
- MT4/MT5 signal ea
- Relay bridge app
- Quantower copier bot
Kindly be aware this Quantower copier bot uses Quantower API to design. The working hierarchy is: Quantower copier bot -> Quantower API -> Third party data-feed vendor plugins. This bot has no visibility how Quantower API interacts with those data-feed vendor plugins. However it will seamlessly output the order entry or exit execution results at log window from Quantower API.
2. Quantower can accommodate forex hedging and netting modes as well as futures netting mode. This copier will auto detect which account type is and thus use the applicable order copy process.
3. If you're copying to futures account (i.e. netting mode), that means long and short trades *cannot* coexist. However, most MT4/MT5 accounts are hedging account, i.e. long and short trades *can* coexist. Please ensure your MT4/MT5 trade operation follows netting rules. The order close sequence used by Quantower copier takes FIFO rule (i.e. first in first out).
4. One MT4/MT5 signal ea can accommodate multiple quantower copier bot, i.e. one to many copy relationship.
If you want to have many signal leaders, just set 'Copy Group ID String' (e.g. any text string, e.g. NY2024 or YOUNGSTAR) at both signal ea and copier bot variables. The same id string will bring that signal ea and copier bot to form a separated copy group. By this approach, it can archieve many signal leaders to many copy receivers. You could also use Quantower internal group copy feature as well.
5. This copier only copy position change event from MT4/MT5. That means TP/SL prices or limit/stop orders won't be copied. However, this copier will send out market order entry if that MT4/MT5 limit/stop order gets fulfilled - or send market order close if that MT4/MT5 order get closed by hitting its TP/SL prices.
If you need to copy TP/SL, 'MT4/MT5 to NinjaTrader' trade copier at webstore can support this feature. You could use that one instead.
6. Besides futures Rithmic and DxFeed connections, Quantower provides connections with various crypto exchange futures, InteractiveBrokers (IBKR), LMAX, etc. You could refer to 'Leverage Quantower To Expand Platform Coverage' article: https://boolapi.blogspot.com/2025/02/leverage-quantower-to-expand-platform.html
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Installation
- Relay bridge app
It is to relay the trade signals between MT4/MT5 signal ea and Quantower copier bot.
Please run 'relay bridge app' first.
Unzip RelayBridge.zip file and then run RelayBridge.exe from the unzip folder. it should be exited at last after you close MT4/MT5 and Quantower.
- Quantower copier bot
Unzip MTQTCopier.zip and move that unzipp folder to below folder:
[your Quantower install folder]/Settings/Scripts/Strategies/
Note: If you install Quantower by their default path, Quantower folder should be at your computer 'Desktop' folder.
At Quantower, click the Quantower icon at chart upper right (circled in red at below screenshot) and select 'strategy manager' (circled in red at below screenshot)
At 'Strategy Manager' window, click + sign and choose 'MTQTCopier'. if you cannot see it, restart your Quantower.
At that bot setting window, select Quantower account and symbol you want to copy to. you could set lot multiplier as well that is limited to this copier receiver. mt4/mt5 signal ea also has the lot multiplier that is applied to all of its signals.
Please note that Quantower strategy manager setting window doesn't have 'save' button. just double click on any place of that setting window that will auto save your setting. and then click 'X' at window top right corner to exit.
If you have two more symbols to copy, just add another copier bot and select different symbol.
Click 'run' to start that copier bot:
The copier bot will also print out that symbol min and max lot size at log window.
Please note each bot shares the same log panel. if you want to see one bot's log, just click that line of bot on upper panel.
- MT4/MT5 signal ea
Put “MT4ToQuantower.ex4” or “MT5ToQuantower.ex5” to \MQL4\Experts\ or \MQL5\Experts\ folder.
At MT4 or MT5, “Menu” → “Tools” → “Options”, at below selection, click “Allow DLL Import” - as this EA needs network authentication.
Open any chart and attach this signal ea to chart. At the first ea variable, please enter your license key
Please attach this signal ea to ONLY one chart.
This ea can fetch multiple symbol/trade events of this mt4/mt5 to Quantower. if you want to stop that copier bot, just click 'stop' button at ea trade panel shown on chart.
Below three are the most important variables of signal ea:
- Symbol mapping list -
the format is MT4/MT5's symbol name, comma, then Quantower's, then semi-colon
e.g.
SPX,ESZ4;
if two pairs,
SPX,MESZ4;AUDUSD,M6AZ4;
- Lot multiplier list -
If you want to multiply the lot value to Quantower, for instance, input
EURUSD,1;XAUUSD,5;
or simply input
1
All mt4/mt5 lot will be multiplied 1 times to Quantower.
Please watch the order lot unit at that Quantower broker or min/max lot size output by copier bot and do the proper lot multiplier.
- Copy Group ID string
If you have one more signal sources, it's required to set 'copy group id string' to partition each copy group. one group can have one signal leader + multiple copiers.
For instance, if LONDON is used as 'copy group id string', please set this string at both signal ea and copier bot side.
Once it's set, that id string will be shown on signal ea chart and copier bot log message title.
If you only have one signal leader, just leave this variable as default blank string.
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The rest of variables are explained as below:
- Lot mode - default is 'follow MT4/MT5 order lot'; another option is 'Fixed Lot'
Kindly be aware that if you select 'fixed lot' mode and do the partial close at MT4/MT5, this signal ea will still send out that fixed lot info to Quantower regardless how many lots you close that partially.
- Order magic number list - you could assign specific magic number for trade signaling.
For multiple magic, separate each with comma.
For instance, 3413434,1343292
Default is a blank string, i.e. applying on all trades.
Special reminder:
If you put your ea's magic number and want to limit the copy to it, e.g. magic number 3421243
Then MT4/MT5 signal ea will only scan orders with magic number = 3421243
Kindy be aware MT4/MT5 manual order's magic number is 0.
If you want to have that signal ea cover BOTH manual orders and your own ea orders, it should be set like
0,3421243
i.e. include 0 at magic number list
- Applicable symbol list - you could restrict to specific symbol/instruments. Separate each with comma, e.g. EURUSD,XAUUSD,USOIL
Default is a blank string, i.e. applying on all symbols.
- Applicable comment list - you could restrict to specific order comment. Separate each with comma.
- Reverse trade - if setting true, it will reverse the trade signal to the bridge app.
For instance, a LONG trade will be signaled as a SHORT trade.
- As there are great variations of customer custom needs of control or filter requirements, this copier use the alternative approach to accommodate.
If enable "Enable Hold-Up Feature?" variable (default is false), MT4/MT5 signal EA will keep checking whether MT4/MT5 global variable named
MTQTCOPYDISABLE
is 1 or not. If that equals 1, MT4/MT5 signal EA will hold up. It doesn't equal or that global variable is not set, MT4/MT5 copier EA will keep running.
