The free MT4 indicator and tool library
Updated 2026-06-09
Every file here is open-source, license-verified and ships with its original licence and a credit to the author. We do not rehost anything we cannot legally redistribute, and we do not pad the list with thin re-skins. Pick a category, read the honest write-up, and grab the zip, it drops straight into MetaTrader 4.
All 20 free MT4 tools at a glance
Every tool in the library, with its category, whether it repaints, the MetaTrader versions it runs on, and its open-source licence.
| Tool | Category | Repaints? | Platform | Licence |
|---|---|---|---|---|
| Breakeven Line | Account & Trade Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Draw Profit | Account & Trade Tools | No | MetaTrader 4 | MIT |
| Equity Line | Account & Trade Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Lot Size Calculator | Account & Trade Tools | No | MetaTrader 4 | MIT |
| Profit Info | Account & Trade Tools | No | MetaTrader 4 | MIT |
| Risk Calculator | Account & Trade Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Stop-Out Line | Account & Trade Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Trade Info Panel | Account & Trade Tools | No | MetaTrader 4 | MIT |
| Draw Grid | Chart & Terminal Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Switch Timeframes by Keys | Chart & Terminal Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Synced Crosshair | Chart & Terminal Tools | No | MetaTrader 4 | GPL-3.0 |
| Auto Trend Lines | Levels & Market Structure | Updates live | MetaTrader 4, MetaTrader 5 | MIT |
| Correlation Indicator | Levels & Market Structure | Updates live | MetaTrader 4 | MIT |
| Forex Scanner Dashboard | Levels & Market Structure | Updates live | MetaTrader 4 | MIT |
| Price Alert Panel | Price & Alert Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Price Line Alert | Price & Alert Tools | No | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Coppock Curve | Trend & Momentum | Updates live | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| MA Max Excursion | Trend & Momentum | Updates live | MetaTrader 4, MetaTrader 5 | Apache-2.0 |
| Moving Average Slope | Trend & Momentum | Updates live | MetaTrader 4 | MIT |
| No Nonsense ATR | Trend & Momentum | No | MetaTrader 4 | GPL-3.0 |
Account & Trade Tools
8 freeOn-chart panels that read your account and open orders, so risk, profit and exposure are always in front of you.
Breakeven Line
Draws the exact price where your open positions in the symbol break even after costs.
Draw Profit
Draws your open position's running profit straight onto the chart, updated every tick.
Equity Line
A draggable line that projects what your account equity becomes if price reaches that level.
Lot Size Calculator
Risk-based position sizing on the chart: set risk percent and stop distance, read the exact lot size.
Profit Info
A compact panel summarising today's, this week's and total closed profit by symbol.
Risk Calculator
Reads your open and pending orders to show total risk and reward in both money and percent.
Stop-Out Line
Plots the price at which your account would hit the broker's stop-out level.
Trade Info Panel
An on-chart dashboard of balance, equity, floating P/L, margin and spread, all in one panel.
Chart & Terminal Tools
3 freeWorkflow tools for the MetaTrader 4 terminal itself: faster symbol and timeframe switching, grids, palettes and chart helpers.
Draw Grid
Draws an evenly-spaced horizontal price grid at a pip step you choose, for scalping levels.
Switch Timeframes by Keys
Hotkey timeframe switching: press a number key to jump straight to M1 through MN.
Synced Crosshair
A crosshair that mirrors across every open chart so you read the same moment on all of them.
Price & Alert Tools
2 freeDraw a level, get told when price reaches it, with pop-up, e-mail and push alerts and no Expert Advisor required.
Price Alert Panel
Set price, indicator and time alerts from an on-chart panel with pop-up, email and push.
Price Line Alert
Drag a line to any price and get an alert the moment price touches it. No EA needed.
Lines, correlations and multi-pair scans that map where price has reacted and how instruments move together.
Auto Trend Lines
Draws trend lines automatically from recent swing pivots and updates them as price moves.
Correlation Indicator
Measures rolling correlation between the chart symbol and a second instrument you choose.
Forex Scanner Dashboard
A multi-pair dashboard that scans your watchlist and flags momentum and level conditions at a glance.
A small, hand-picked set of momentum and volatility reads that do not duplicate the usual moving-average and oscillator crowd.
Coppock Curve
The classic long-term momentum oscillator built from two rate-of-change values and a weighted average.
MA Max Excursion
Measures the largest distance price travels from a moving average to gauge over-extension.
Moving Average Slope
Turns a moving average's angle into a histogram so you can read trend strength and flattening.
No Nonsense ATR
An ATR readout in pips for the NNFX method, sizing stops and targets off real volatility.
Questions about these MT4 indicators
Are these MT4 indicators really free?
Yes. Every file is open-source software released under a redistribution-permitting licence such as MIT, Apache-2.0 or GPL. You get the .mq4 source plus the original licence in each download. There is no paid tier.
Do they work on MT5 as well as MT4?
Some do. Where a tool ships an .mq5 build we include it, but the focus here is MetaTrader 4, so every download contains a genuine .mq4 file. The platform line on each page tells you exactly what is inside.
Will any of these indicators repaint?
We say so on the page when a tool updates on the current bar. Most of these are panels, levels and alerts that do not repaint by nature; for the momentum reads we state the bar behaviour plainly so you are not surprised live.
How do I install one?
Unzip it, drop the .mq4 into MQL4 then Indicators (File then Open Data Folder finds the right place), refresh the Navigator and drag it onto a chart. The step-by-step install guide covers the details and the common mistakes.