Free trading journal for MT4.
Elave is a free trading journal for MetaTrader 4. On Windows, the Elave Connector installs the Elave MT4 sync EA; you drag it onto any chart and paste your journal API key once. After that, closed trades sync to your journal every few minutes. On a Mac, import your MT4 history file instead. No card.
Arnau Lavernia · Founder of Elave · Last updated:
How MT4 trades get into the journal.
MT4 sync runs through the Elave MT4 sync EA, a small program in your own MetaTrader 4 terminal. It checks your account history every few minutes and sends new closed trades to your Elave journal. No investor or master password is involved.
On Windows, the Elave Connector finds MetaTrader 4 and puts the sync EA in place. You attach it to any chart and paste the journal API key from your Elave settings once. If MetaTrader blocks web requests, the EA sends through the Connector on the same computer instead.
MT4 gets the journal. Guardian's on-chart rules and daily-limit enforcement run on MT5 only.
| Topic | Elave with MT4 |
|---|---|
| How trades get in | Automatic sync: the Elave MT4 sync EA, every few minutes |
| What you install | The Elave Connector on Windows, which places the sync EA in MetaTrader 4 |
| Mac | No Connector; import an MT4 CSV export instead |
| File import | MT4 CSV |
| Rules on the chart | No. Guardian runs on MT5 only |
| Price | Free. No card, no subscription |
How to set up MT4 sync.
- Create your free Elave account and open Connect.
- Choose MetaTrader 4 and download the Elave Connector for Windows.
- Open the file. It finds MetaTrader 4 and installs the Elave MT4 sync EA.
- In MetaTrader 4, right-click Expert Advisors and choose Refresh, then drag ElaveFX_Sync_MT4 onto any chart.
- Paste your journal API key into the EA's ApiKey input once. Closed trades start to arrive within minutes.
What lands in your journal.
- Trade log: every trade per account, filterable.
- P&L calendar: green and red days, with a day view for each one.
- Analytics: expectancy, profit factor, drawdown, average R, costs and streaks, split by session, weekday and hour.
- Strategy tags, so each setup gets its own numbers.
- Trade detail with notes, ratings and a review queue for the trades you haven't reviewed yet.
- An AI trade review that scores how impulsive each trade looked, from 0 to 100.
- Equity curves for several accounts side by side on the journal home, each account in its own currency.
What MT4 sync does not do.
- Guardian, Elave's risk manager, does not run here. Its rules, daily-limit checks and on-chart panel work on MetaTrader 5 only; this platform gets the journal.
- The Connector is a Windows download. On a Mac, use file import with an MT4 CSV export.
- The sync EA works while MetaTrader 4 is open with the EA on a chart.
- Manual trade entry is not offered. Every trade comes from a sync or an imported file, so the journal matches a real record.
Frequently asked questions.
Is there a free trading journal for MT4?
Yes. Elave's trading journal is free for MetaTrader 4, with no card, no subscription and no paid tiers. The Elave MT4 sync EA sends your closed trades automatically, and you get a trade log, P&L calendar, analytics by session and setup, trade notes and curves for several accounts.
How does MT4 auto-sync work?
The Elave MT4 sync EA runs on a chart in your MetaTrader 4 terminal. Every few minutes it checks your account history and sends new closed trades to your Elave journal. On Windows the Elave Connector installs it; you attach it to a chart and paste your journal API key once.
Is it safe to connect MT4 to a trading journal?
Elave never asks for your MT4 password. The sync EA runs in your own terminal and identifies your account with the journal API key from your Elave settings, and its job is to send closed trades to your journal. Never give any trading journal, Elave included, your master password.
Can I use Guardian on MT4?
No. Guardian, Elave's risk manager, runs on MetaTrader 5 only: its rule checks, daily-limit closing and on-chart panel are part of the MT5 EA. On MT4 you get the full journal, with the trade log, P&L calendar, analytics and AI trade review, but no rules enforced on the chart.
Does the MT4 journal work on a Mac?
The journal itself runs in any browser, Mac included. The Elave Connector that installs the MT4 sync EA is a Windows download, so on a Mac the supported route is file import: export your MT4 trade history as a CSV and import it. Columns are mapped automatically and you can adjust them.
Can I journal MT4 and MT5 accounts together?
Yes. MT4 and MT5 accounts land in the same journal, each listed in Accounts with its own currency. One P&L calendar and one set of analytics cover both, and the journal home draws equity curves for several accounts side by side. MT5 accounts can also run Guardian; MT4 accounts cannot.
Sources.
Related pages.
- Free trading journal for MT5
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- Free trading journalEverything the journal does, across every platform.
- Best trading journal for prop tradersWhat a prop trader needs from a journal.
- Best trading journals comparedElave next to the alternatives, sourced and dated.
Get started.
Create your free Elave account, then open Connect and pick your platform. No card, no subscription, no paid tiers.
Educational content, not investment advice. Elave makes no performance, win-rate, pass-rate or income claims. Trading leveraged products carries a high risk of loss.