Free trading journal for MT5.
Elave is a free trading journal for MetaTrader 5 that fills itself. The Elave Connector installs the Elave EA in your MT5 terminal, and every closed trade then lands in your journal with entry, exit, size and costs. It covers every MT5 terminal you run it in. No card, no subscription.
Arnau Lavernia · Founder of Elave · Last updated:
How MT5 trades get into the journal.
MT5 sync runs through the Elave EA, a small program inside your own MetaTrader 5 terminal. When a trade closes, the EA sends it to your Elave journal over the web. There is no investor password and no master password to hand over.
On Windows, the Elave Connector is a one-file installer: download it, open it, then open MetaTrader 5. It finds MT5 and installs the Elave EA there. On a Mac there is no installer, so you copy the EA file into MT5 yourself and paste a connect code once.
The Elave EA is also Guardian, Elave's risk manager for MT5, so the same file checks entries against your rules. It never opens a trade on its own; at your prop firm's daily limit it closes open trades.
| Topic | Elave with MT5 |
|---|---|
| How trades get in | Automatic sync: the Elave EA sends each closed trade |
| What you install | The Elave Connector on Windows; the Elave EA (.ex5) by hand on a Mac |
| Accounts | Every MT5 terminal running the EA, each account in its own currency |
| File import | MT5 History report (HTML or XLSX) and MT5 CSV |
| Rules on the chart | Yes, Guardian runs in the same EA |
| Price | Free. No card, no subscription |
How to set up MT5 sync on Windows.
- Create your free Elave account and open Connect.
- Choose MetaTrader 5 and download the Elave Connector.
- Open the file, then open MetaTrader 5. The Connector finds MT5 and installs the Elave EA.
- Close a trade as usual. It appears in your journal's trade log, calendar and analytics.
On a Mac.
- Download the Elave EA (Elave_EA_MT5.ex5) from Connect.
- In MT5, open File, Open Data Folder, MQL5, Experts, and put the file there.
- Open Tools, Options, Expert Advisors, tick Allow WebRequest for listed URL and add https://elavefx.com.
- Restart MT5, drag Elave EA onto any chart and paste your connect code into its ConnectCode input.
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 MT5 sync does not do.
- The one-file Connector is Windows-only. On a Mac the EA goes in by hand, with the four steps above.
- The EA sends trades from a running MetaTrader 5 terminal. If you can't run it, import an MT5 History report instead.
- It does not set up from a phone. The Connector runs on the computer that has MetaTrader 5.
- 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 MT5?
Yes. Elave's trading journal is free for MetaTrader 5: no card, no subscription and no paid tiers. The Elave EA syncs every closed trade automatically, and you get a trade log, P&L calendar, analytics by session and setup, trade notes and multi-account curves. Coaching extras come with the Elave Bootcamp, by application.
How does MT5 auto-sync work?
The Elave EA runs inside your MetaTrader 5 terminal. When a trade closes, the EA sends it to your Elave journal over the web, with entry, exit, size and costs. On Windows the Elave Connector installs the EA for you; on a Mac you copy the .ex5 file into MT5 yourself.
Is it safe to connect MT5 to a trading journal?
Elave never asks for your MT5 password, investor or master. The EA runs in your own terminal and identifies itself with a code tied to your Elave account. It never opens a trade on its own; at your prop firm's daily limit it closes open trades. Never give any journal your master password.
Does the MT5 journal work on a Mac?
Yes. The journal runs in any browser. The one-file Elave Connector is Windows-only, so on a Mac you add the Elave EA (.ex5) to MetaTrader 5 by hand: put it in the Experts folder, allow web requests to elavefx.com, drag it onto a chart and paste your connect code.
Can I import MT5 history instead of syncing?
Yes. Export an MT5 History report (in MT5: History tab, right-click, Report, HTML) and import it, or upload an MT5 CSV export. CSV columns are mapped automatically and you can adjust them before saving. Import suits past trades, or a computer where you can't run the EA.
Does Guardian run with the MT5 journal?
Yes. On MT5 it is the same EA. Guardian checks each entry against your own rules before the click, shows the room left before your prop firm's daily limit, and lets you stop for the day in one tap. Guardian runs on MetaTrader 5 only; other platforms get the journal without on-chart rules.
Can I connect several MT5 accounts?
Yes. Run the Elave EA in each MetaTrader 5 terminal you trade from, and every account appears in Accounts with its own currency. The journal home draws equity curves for several accounts side by side, which helps when you run more than one prop firm evaluation at once.
Sources.
Related pages.
- Elave Guardian for MT5The risk manager inside the same MT5 EA.
- Free trading journal for MT4
- Free trading journal for cTrader
- Free trading journalEverything the journal does, across every platform.
- Best trading journal for prop tradersWhat a prop trader needs from a journal.
- Prop firm risk managementDaily limits, drawdown and sizing.
- 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.