Frequently asked questions

The Frequantly Asked Questions section will answer many of the most common and important questions about the products and services MexcelTrader has on offer. For additional questions, please do not hesitate to contacts us at support@mexceltrader.com


Is MexcelTrader compatible with Excel 2003 and Open Office?

At the moment MexcelTrader is only compatible with Excel 2007/2010.

Can I use MexcelTrader to connect to more than one MetaTrader Broker?

Yes, the Premium version of MexcelTrader will be able to connect to multiple MT4s simultaneously.

Why do I get “Waiting for MetaTrader 4 Monitor to become ready”?

This happens because the MexcelTrader Monitor script is not attached to a chart. The Quick Start sheet on the Mexcel Trader workbook provides instructions on how to accomplish this. However it can also be caused by accidentally removing the script from a chart or changing MetaTrader 4 Profiles, Chart symbol or Chart Time Frame on the chart where the script was attached. To avoid this message please attach the MexcelTrader Montior script to any dedicated chart which will not be modified or closed.

I have done everything by the book but I still get “Waiting for Meta Trader4 Monitor to become ready”. What should I do?

Click on the Terminal icon in your Meta Trader 4. This will open a series of tabs at the bottom of MetaTrader 4 – below the charts. Please click on the Journal Tab and attach the MexcelTrader Monitor. If you see a message in the Journal Tab “ MexcelTrader Monitor removed” please contact support at support@mexceltrader.com

Should I attach the MexcelTrader Monitor script to a chart on each profile? Does it matter which chart it is attached to?

It does not matter to which chart the script is attached to, as long as this very chart remains open and unchanged. One chart with the script is sufficient and attaching to multiple charts will not lead to any benefits or improvements.

Which files should I include in a backup to guarantee that I do not lose ANY of my work in the event of a disk failure?

To keep your work the 2 most important files to save are the MexcelTrader.xlsm and the MeXcelTrader.xlsm.mexcel files both found in C:\MexcelTrader

I keep getting pop up DLL confirmation windows each time I start MexcelTrader Monitor. How to switch it off?

To remove the DLL confirmation windows, please open your MetaTrader 4, go to Tools and click on Options. In the new window click on Expert Advisors Tab and make sure that the “Confirm DLL function calls” is unchecked.

What should I know about saving and copying the MexcelTrader workbook?

All work done within MexcelTrader workbook can be saved and later re-opened. However transferring or moving the file will disable all features of the application and the workbook will become an ordinary Excel file without the MexcelTrader features and functions. To move the MexcelTrader workbook effectively between versions and other MexcelTrader installation you will also need to move the MeXcelTrader.xlsm.mexcel file (found in C:\Mexcel Trader)

Can I disable the Sample Dashboard?

Yes, the Sample Dashboard is only an example of what can be accomplished with MexcelTrader. Sample Dashboard can be disabled by NOT allowing your Excel workbook to execute Macros (See Excel Help on how to disable macros)

Can I add my own macros and VBA in MexcelTrader?

MexcelTrader was developed in an Excel environment and thus macros and VBA should work well with it. Sample Dashboard is one such example.

Can I close all existing positions with a single function or a click?

No, each function requires an Order ID to execute and functions can only address 1 Order ID at a time. Several functions however can be triggered at the same time provided each function contains the correct Order ID. If all functions are triggered at exactly the same time in MexcelTrader, your MetaTrader 4 broker will decide the order in which those executions will take place.

I have connected MexcelTrader but the BID and ASK prices in the Sample Dashboard do not update. Why?

The BID and ASK prices are functions provided by MetaTrader 4 and not by MexcelTrader. To enable the MetaTrader 4 functions go to your MetaTrader 4 platform, click on Tools>Options and in the Server tab check “Enable DDE Server”. Then restart MetaTrader 4 and MexcelTrader.

I have done everything correctly but the BID and ASK prices are still inactive in Sample Dashboard. What can I do?

The BID and ASK prices are functions provided by Meta Trader 4 and not by MexcelTrader. Certain brokers have their own way to refer to symbols and instruments. For example most of the brokers will have EURUSD for Euro/Dollar pair while others will have them slightly different – EURUSD.. or EURUSDm for Euro/Dollar. You will need to manually adopt the BID and ASK formulas to those less standard symbol expressions (please see Meta Trader 4 help on DDE/Excel functions)

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