If a variable is an Average, a coder might name this avgPeriod. MQL4 coders and programmers who code at a proficient level will name variables according to their purpose. It is true, decompiling an EX4 file produces an editable MQL4 source code but in the process of decompiling, variable names are stripped and replaced with 'machine' names.

' Generated by ex4-to-mq4 decompiler FREEWARE 4.0.509.5'īelow is an example of a decompiled version of Ultra Trend.

gi_212 etc, it's decompiledĪlso, many decompiled indicators have a watermark left at the top of the code stating it's decompiled by a EX4 to MQ4 decompiler.

If the code contains letters and numbers separated by underscores ie.The easiest way to spot a decompiled code is: How do I recognize if an indicator is decompiled? People who do not know how to code will take an EX4 file that was made by a coder and will decompile the file, re-name it to something different (usually something cheesy like 'Pip Magic' etc.) then market it as their own. The primary reason why decompiled files exist is because of scamming and theft. Unfortunately, this is hardly the reason why protected EX4 files are hacked. In a perfect world, EX4 files are innocently decompiled by users who had purchased an indicator from a coder but the coder was no longer available for support, and the user decided to 'open' the file to improve or add to the indicator with good intentions.

A decompiled (stolen) indicator is an indicator that was originally shared or sold as a protected EX4 file but hacked using an EX4 to MQL4 decompiler to reveal it's source code (contents).

Ex4 to mq4 decompiler freeware