MetaTrader 5 blurs the line because both EAs and indicators live in the same Navigator tree. The difference is who clicks Buy — you or the algorithm.
An indicator draws on chart or sub-window. You still decide entries, lot size, and when to flat. Good fit if you have a discretionary rule set and want visual help (structure markers, session boxes, custom alerts).
An expert advisor (EA) sends orders. It needs stable terminal uptime — often a VPS if your laptop sleeps. Licensing uses WebRequest to verify against a server; you must whitelist the license URL in MT5 options or verification fails with a vague error.
Cost and ownership angle
Subscription marketplaces charge monthly for both types. AlgoScriptX sells MT5 tools with a one-time EUR price and license activations tied to your account number. You keep the file; updates arrive when the seller publishes a new version.
Quick decision table
- Want automation while you sleep → EA.
- Want help reading structure but you press the button → indicator.
- Prop firm eval with EA rules → read firm policy first; many restrict certain EAs.
- Need mobile-only trading → neither runs on phone; MT mobile is monitoring at best.
Browse MetaTrader expert advisors or filter the marketplace by MT5 + product type.