Prior to compilation we need to specify two directories in Trading SM. Go to Tools -> Options.
There you need to specify the Metatrader 4 directory. It is the directory where your Metatrader terminal is installed. Usually at C:\Program Files (x86)\MetaTrader 4. Go to your “Program Files (x86)” directory and look for some Metatrader installation there.
Also you need to specify the “MT4 Experts” directory. This is the directory where your Metatrader terminal saves Expert Advisors. Usually at C:\Users\UserName\AppData\Roaming\MetaQuotes\Terminal\SomeWeirdFolderName\MQL4\Experts. You can get this directory from Metatrader.
Every time we are ready with our trading strategy we need to first save it.
And once saved, we can compile the program.
After compilation, the new Expert Advisor with the name assigned will be available in our Metatrader terminal.