MetaQuotes has steadily fought against decompilation. Starting with Build 600 (new compiler), then Build 1080 (encrypted string literals), and recently server-side validation of EA signatures. They now encourage developers to use Cloud Protection – EAs that verify licensing via MQL5 Cloud. Decompiled versions of such EAs often crash or self-destruct.
Moreover, many developers are moving to MT5, which uses a more robust compilation model and .ex5 format. Currently, no public decompiler handles MT5 effectively.
Thus, Ex4 to Mq4 V4.0.5 may be the last widely accessible version. In 2–3 years, expecting reliable decompilation might be unrealistic. Ex4 To Mq4 V4 Decompiler Version 4.0 5 Full Version
The decompiler does not "decrypt" the EX4. Instead, it performs reverse engineering through these steps:
However, perfection is impossible. Decompiled code often contains: MetaQuotes has steadily fought against decompilation
Thus, even with Version 4.0.5, manual code cleanup is always required.
The Version 4.0.5 of the EX4 to MQ4 Decompiler likely offers several features aimed at improving the decompilation process, such as: The decompiler does not "decrypt" the EX4
Even the "full version" is not magic. Common problems include:
Assuming you have obtained a legitimate copy of Version 4.0.5 (full version, activated), here is a typical workflow:
.mq4 file in MetaEditor.Example of decompiled code fragment (before cleanup):
int var_1 = 0;
double var_2 = 1.234;
if(var_1 == 0)
var_2 = var_2 * 1.5;
After cleanup:
int signalCount = 0;
double lotSize = 1.234;
if(signalCount == 0)
lotSize = lotSize * 1.5;