00 MetaTrader 4 Trading Terminal » metatrader

Trade Online With An Expert-MetaTrader4

February 4th, 2015 admin Posted in metatrader No Comments »

The All-In-One Workplace:

MetaTrader4 provides a terminal that has over 50 tools to assist the user in monitoring the stocks, implement various algorithms to perform operations on these data, visualize them and infer meaningful information from it. The workspace is a collection of many similar tools and functionalities organized in a neat and tidy layout and a pleasing user interface. Users can trade stocks, make orders, perform operations, analyze price dynamics of financial instruments and select Expert Advisers to automatically start trading online, where everything is managed and executed automatically by novel artificially intelligent algorithms. It exhibits an all-in-one concept of online trading.

Autonomous Online Trading:

Users can increase their online trading opportunities and improve upon their online trading experience using MetaTrader4 and its Automated Trading System, which utilizes algorithms to automatically predict stock behavior and makes orders on behalf of the user. This also dynamically update its database to keep track of changes in the share market in real time and perform operations accordingly. Therefore, it is the only system in the market that can automatically monitor the market for you and can handle all your trades much more efficiently. It is highly recommended for novice users and for beginners till they understand every bit of the market on their own.

Customized User Operations:

By learning MQL4, users can create their own custom scripts to run on MetaTrader4 in case they have special requirements and are looking for a specific set of tools to meet those requirements. MetaTrader4 is based on an open-source platform and hence is open to developers to handle their own personal demands without having to wait for the company to roll out software updates. There is also a repository of free-of-charge codebase where the users can upload and download new algorithms suited to their specific needs and make use of them free of cost. It is an added advantage compared to other players.

Dynamics Of Financial Instruments:

MetaTrader4 provides the terminal with nine timeframes of stock data analysis and prediction based on that analysis to improve upon the forecast of stock behavior and dynamics of price of shares. The market changes frequently and real-time data are required to perform such predictions and often historical data also helps. Objects can be applied one over another and even paper-based analysis id possible using the charts. It also allows very financial instrument to be individually analyzed and used later on for other monitoring activities.   These tools help simplify the analysis, determine various trends, identify various shapes, and determine entry and exit points from the charts.

Mobile Friendly:

MetaTrader4 has mobile apps for Windows, Android, Linux and iOS which allow users to keep in contact with their stocks, transactions, orders and make decisions at the right time. Online trading needs frequent updates of the market in real time to be able to predict possible outcomes with higher probability and mobile apps constantly provide financial news updates and assist in fulfilling this objective. Users can now manage their account completely on the go. Users need to download metaTrader4 Mobile for leveraging these functionalities. It can do analysis, create charts, apply custom scripts and monitor the stocks with updates in real time.

Multiple Accounts In One Place:

MetaTrader4 allows multiple accounts be handled from a single login on a single workplace without having to switch between them every now and then. Multiple accounts can be handled simultaneously, each with different settings, but from a single consolidated workspace. You need to, however, download MetaTrader4 4MultipleTerminal from your retailer to take advantage of these features and they are not accessible from any plugin or software update on any other normal installation. A lot of time is spent in moving between windows and logins which can be spent on monitoring your stocks and earning more profits. This feature enables you to do just that in an efficient way.

AddThis Social Bookmark Button

Carry Trade Method

February 8th, 2013 admin Posted in metatrader No Comments »

Economic Regulatory authorities

According to Adam Smith’s concept stated in his publication “An Inquiry into the Nature and Causes of the Wealth of Nations”, all financial procedures are instantly managed by the market economic climate making use of the forces of supply and need, therefore keeping them in the ideal state.

Regrettably, nonetheless, practice programs otherwise. Market supply and need frequently cause altered monetary relationships and cause recessions.

To minimize the effect of financial imbalances, government regulatory authorities are included to help the marketplace economic climate.

The goals of government regulatory authorities consist in the indirect control of financial procedures making use of:.

Bank reserves, i.e. insurance funds collected.
Export and import quotas.
Subsidizing particular financial areas that could not separately endure globe competitors.
Controling rate of interest.

Rate of interest.

Rate of interest are utilized by main banks to regulate financial procedures at the government level:.

The official rebate rate (ODR) is the most efficient device of the government financial law. This is the rate that a main bank costs commercial banks for getting a loan cash from it.
Repo Rate is utilized by a main bank to consider and repurchase government protections from commercial banks.
Fund Rate is the reserve funds rate.
Lombard Rate is the rate charged for loans protected by pledge.

Managed Economic climate.

Do not have impressions about staying in the age of ‘complimentary’ market economic climate. Adam Smith’s concepts are more than utopian. Market individuals do not need to manage financial procedures at their very own danger and danger. And for commercial reasons, they frequently buy the anti-market ones, e.g.:.

Investments in medicine trafficking. The outcome being is that a part of the population gets immobilized and the criminal activity rate grows.
Investments in bubbles. As an outcome, financial resources quit to be a part of financial manufacturing and usage of products and rather become a part of lotto fraud. Such financial investments eventually develop into lost cost savings for a substantial part of the population.
Investments in derivatives. Derivatives serve as a destabilizing element for the marketplace supply and need and bring about remarkable financial changes, all the method to globe dilemmas.

We reside in the period of the regulated economic climate. It is not centrally prepared where financial procedures are straight managed by the government, yet it is controlled.

The Authorities Rebate Rate.

The rebate rate set by a particular nation’s Central Bank is among the significant financial investment aspects. It provides an indicator to investors, specifically to those from various other nations, of the portion of revenue they will get if their cost savings are kept in the nationwide currency or government bonds of a certain nation. For the greater the rebate rate, the greater the interest.

Main banks as a result make use of the rebate rate to manage the state economic climate, i.e. to either bring in investors by enhancing the rate, if this is essential, or to reduce the rate in case of financial heating up.

Nevertheless one must not savour impressions. A greater rebate rate does not always contribute to the appearance of the currency. There is an additional substantial aspect that investors think about– inflation. There is no point in investing in such an economic climate if the inflation rate is significantly greater than the rebate rate.

For instance, the Central Bank of the Republic of Zimbabwe as soon as enhanced the rebate rate to 950 % which just frightened investors away as the cash printing operations because nation simply might not equal the banknote and the inflation printing paper was more costly than the nominal worth of banknotes.

Low rebate rate does not constantly show that the genuine economic climate is overheated however typically indicates about the severe frequency of bubbles.

Carry Trade Approach.

Carry Trade is the technique of making revenues based upon favorable swaps.

When trading currency pairs, rebate rates are changed into the distinction in between the rebate rate of the currency to be gotten and the currency to be sold, i.e. a swap. The distinction could for that reason be unfavorable for either sales or acquisitions. Earning money based upon favorable swaps is appealing to traders, particularly provided the leverage. Nevertheless the leverage is a two-edged sword, i.e. if the costs begin relocating the instructions reverse to that of the employment opportunity, the losses could go beyond the future prospective revenue and bring about a margin call. It is for that reason a dangerous endeavor to generate income based upon swaps trading one currency pair.

Hold trade has some unique benefits, such as the reality that, being a reduced regularity trading approach, it is without troubles connected with high regularity trading, like the should continuously oversee trading signals, hookup failures and others. VPS hosting is not a need. Every once in a while you simply have to keep track of stats and follow the information.

This short article will offer a variation of the hold trade security technique which enables to make up for possible threat of the rate motion in the instructions reverse to that of the employment opportunity.

Statistical hold trade method is a multi-currency approach as it includes two or even more currency pairs so about recompense for prospective losses from undesirable cost motions due to cross relationships. Nevertheless it is carried out in such a means so about slowly enhance revenue on equity, even when obstructed by detrimentally correlated monetary instruments.

Statistical Carry Trade Math.

Statistical hold trade is based upon presumptions:.

Rates for currency pairs shall relocate the instructions of favorable swaps.
Their connections are favorable if two or even more currency pairs are estimated in terms of one very liquid currency. The rate motions could subsequently be counteracted by oppositely directed and favorably correlated positions.

Presumptions are nonetheless not dealt with as set guidelines; the two points above are for that reason just a hypothesis that requires showing making use of analytical techniques. It might be that most of investors are, for one reason or an additional, of a various viewpoint based upon essential aspects and choose to prevent dangers, no matter favorable swaps.

Because the hold trade security technique variation includes numerous currency pairs that equally counteract the undesirable rate motions, the analytical analysis of estimating procedures utilizing historic information ought to be extremely comprehensive.

In a really easy case where n currency pairs are utilized, an analytical design of the estimating procedure is a linear picture as follows:.
v1 \* d1 + v2 \* d2 + … + vn \* dn = revenue.

where:.

n is the overall lot of monetary instruments.
v1, v2, …, vn are the volumes of positions leveling in the pertinent monetary instruments. A brief position is opened if the volume worth is adverse.
d1, d2, …, dn is the ordinary cost modification over one trading day for a monetary instrument.
revenue is the typical revenue over one trading day.

The formula will be much shorter if streamlined for two monetary instruments:.
v1 \* d1 + v2 \* d2 = revenue.

Change it:.
d1 = (- v2 \* d2 + revenue) / v1.

In this case, if we presume that:.

v1 = 1.
y = d1.
a = – v2.
b = revenue.

We get the classic formula of linear picture with one argument and in two unknowns:.
y = a \* x + b.

The unknowns a and b could be determined utilizing the classic least squares technique.

Following that, you ought to point out the revenue size utilizing swaps and get the end products of the prospective revenue over one trading day:.
b’ = b– swap1 + a \* swap2.

where:.

swap1, swap2 are the swaps of currency pairs computed over one trading day for the pertinent employment opportunity instructions.

Because the algorithm method stated in the information presupposes the simultaneous contentment of two conditions:.

Volumes and instructions of currency pairs are picked so that they are, usually, rewarding.
Swaps of all currency pairs associateded with the method shall declare.

the extra screening utilizing the last formula according to the above conditions becomes unneeded.

Exemplification.

Why do we have y = a \* x + b, b = revenue in our formula?

Computation instance.

Presume that everyday cost motions of two currency pairs signified by the identifiers y and x could be explained by the formula:.
y = 2 \* x + 1.

Change it into a comparable formula:.
y– 2 \* x = 1.

That is, we should open a long position in the first monetary instrument (favorable indicator) and a brief position (unfavorable indication), being two times the size of the first position (as a = 2), in the 2nd monetary instrument.
In our instance, the present instrument costs are 10 and 8.

Presume that the cost for the 2nd instrument raised by 1 over one trading day, i.e. it reached 9. Subsequently, the cost for the first instrument will, usually, modification by 2 \* x + 1 = 2 \* 1 + 1 = 3 and reach 13 (costs for both instruments enhanced at the same time since the connection declares). Because the position of the 2nd instrument is brief, the loss on it will be 2, while the first instrument in the long position will make 3. The distinction, i.e. the revenue will be +1.

Expect that following the next trading day the 2nd instrument rate reduced by 1 and went back to the previous worth of 8. The first instrument rate will in this case additionally reduction by the worth of 2 \* x + 1 = 2 \* -1 + 1 = -1 and will amount to 12. Figuring out the outcomes: there is a loss of 1 on the first instrument and a revenue of 2 on the 2nd instrument. The end product is once again +1. That is, no matter the instructions and the array of the rate motion, we would, usually, still gain revenue in the quantity pointed out in the formula and signified by the identifier b.
Hence, understanding the formula in the kind of the linear picture we could identify the instructions and volumes of the opening positions in two cross correlated monetary instruments so regarding obtain a typical revenue, despite the cost instructions.

However do not be too held away as the formula is computed by methods of the least squares technique, i.e. following an analytical strategy and utilizing historic information. It does not ensure any future revenue. When making use of historic information and hold trading, we require data to make sure that the market entry instructions picked are lucrative both. We will still benefit from the distinction on swaps if in the future something does not go as anticipated based on the estimations.

Execution.

Being too tiresome for manual computations, the least squares approach estimation ought to much better be appointed to an Expert Advisor.

The Expert Advisor figures out position instructions and volumes in two monetary instruments so regarding obtain a typical revenue. It then requests the server to offer details on the worth of swaps for the opening position instructions picked and must both swap values declare, offers a referral.

Forex Expert Advisors

AddThis Social Bookmark Button

Metatrader F.A.Q.

January 30th, 2013 admin Posted in metatrader No Comments »

How do I place chart indications?

The actions are as follows:.

On the leading Menu bar, pick INSERT) SIGNS.
You could additionally browse to the Navigator area and insert chart indications from there.

How do I include my custom indications onto my trading platform?

This file will need to be of the. mql format – suggesting it needs to end with. mql.

\*\* For this instance the sign we wish to include will be called test_indicator. mql. \*\*.

The actions are as follows:.

Save this file to the following folder, utilizing ‘Save As’: C: Program Files FXDD-MetaTrader4 specialists signs.
After conserving, discover the file test_indicator. mql because folder. The sign for a. mql file is a yellow diamond with an exclamation mark inside it.
Next reboot MetaTrader and discover the brand-new sign in MetaTrader’s Navigator to the left side, in the Custom Indicators folder.
To include the indication to a chart, just pick a chart, then double-click on the indication in the Custom Indicators folder, pick any non-default values you would such as to have actually customized, then choose OK.

How do I navigate firewall security?

Disable anti-virus firewall software and open port 443.

How can I develop trend lines and various other line researches?

The actions are as follows:.

On the leading Menu bar, pick INSERT.
Then choose the wanted trend line.
After launching the mouse button, a graphic icon of the chosen trend line with a cross hair affixed will appear. Utilizing the mouse, put the cross hair over the chosen chart. Click and hold the mouse button while moving the mouse to readjust the size of the trend line.

Line research routes could likewise be rapidly accessed by clicking VIEW) TOOLBARS) LINE RESEARCHES to make the icons appear right below the Menu Bar.

There are extra choices to choose that appear on the top of the screen. These consist of quick clicks to the Trend line, Crosshair, Fibonacci Retracement, etc

How do I show a bar chart?

On the leading Menu bar, choose CHARTS) BAR CHART or utilize the keyboard faster way (Alt +1).

How do I acquire details on my account and everyday deals on the MetaTrader platform?

Use the TERMINAL area of the platform. Go to VIEW) TERMINAL (or make use of keyboard faster way Cntrl + t) if this area is not open.

The actions are as follows:.

In the TERMINAL area, choose the Account History Tab.
This tab reveals the history of your account, For ease, this details could be printed.
Right click anywhere in this area.
Select ‘Save as Report’. (This could be conserved as an HTML file that could be transformed to an Excel Declare your records.).

The authorities record of declaration is Backoffice for United States customers on our United States internet site. NOT MT4.

How do I show a candlestick chart?

On the leading Menu bar, pick CHARTS) CANDLESTICKS CHART or utilize the keyboard faster way (Alt +2).

How do I show a line chart?

On the leading Menu bar, pick CHARTS) LINE CHART or utilize the keyboard faster way (Alt +3).

How do I zoom in or from a chart?

The actions are as follows:.

Ensure the “charts” toolbar has actually been allowed.
Next, pick the icon for the ideal action found under the Menu Bar. i.e.’ +’ and’ -‘.
Select either icon to zoom in or from the chart.

Or, us the keyboard faster way for this feature. To zoom in (Change +), and to zoom out use (-).

Does the MetaTrader platform assist in mini whole lot (10 K) trading?

Yes you could trade mini whole lots (10K) utilizing the MetaTrader platform.

Right here is the scale that we utilize for trading great deal sizes on MetaTrader:.

0.01 whole lots = 1,000 devices of base currency (or dollars) Our “micro” whole lot size.

0.10 whole lots = 10,000 devices of base currency (or dollars) Our “mini” whole lot size.

1.00 great deals âEUR” 100,000 devices of base currency (or dollars) Our “common” whole lot size.

\*\* Please keep in mind that trading in great deal sizes that are disappointed in the scale above is feasible. An instance would be an open a great deal position of 0.60 (60,000 devices), an 8.00 whole lot position (800,000 devices), as well as a 3.20 whole lot position (320,000 devices). Please email us with any scale questions:sales@fxdd.com.

\*\* Likewise, keep in mind that various other brokers could make use of a various scale to trade particular size whole lots. For example, an additional broker could reveal 1.00 great deals on a mini account is 10,000 devices.

I have actually downloaded the MetaTrader platform. How do I log into my live account and begin trading?

An e-mail notice with a login name and password will be sent out (i.e. Login: “60141” Password: “as4temp”). Download and set up the platform. Open the login screen. Keep in mind that a screen could open that asks to open an account. “X” from this screen.

To login, go to DECLARE) LOGIN and kind your login and password.
The server area has a drop-down menu, pick the following server: ‘FXDD-MT4 Live Server’.
Pay attention for a DING noise (verification sound) and your account number will appear in the major left edge of the platform.

You have actually effectively logged into your live account if you see rates moving in Market Watch and the proper balance in your Terminal area. Please e-mail our Support Division if you are experiencing issues logging in.

How do I alter my password on MetaTrader?

The actions are as follows:.

On the major Menu bar, pick DEVICES) CHOICES or keyboard faster way (Ctrl + O).
Under the SERVER tab, pick MODIFICATION.
Input the present password in: “Existing Password” text area.
Select “Modification master password” if it is not examined currently.
Input the brand-new password in: “New Password” text industry.
Re-type the brand-new password in the 2nd “Confirm” text area.

How do I pick the language made use of?

On the leading Menu bar, choose VIEW) LANGUAGES, choose the language inclination.
Exist any keyboard shortcuts I can utilize to reveal the various windows on the platform?

The majority of frequently utilized keyboard faster ways:.

Ctrl + M = Market Watch window.
Ctrl + N = Navigator window.
Ctrl + T = Terminal window.

How do I see all the currency pairs that broker offers?

Within the marketplace Watch window, all the currency pairs qualified to trade could be seen by right-clicking within this area and picking ‘Program All’. All currency pairs will appear afterwards.

How do I show High/Low Costs in the Market Watch window?

The marketplace Watch window, shows the high/low costs.

The actions are as follows:.

In the Market Watch window right-click (anywhere).
Select “High/Low.” (The reduced and high rates will stand for each currency pair for that certain day.).

Do you offer a guide to help with establishing charts? Exactly what kind of choices do I have?

Yes. The MetaTrader 4 platform is among the most enhanced platforms in the market and this is specifically real concerning the charting choices and package deals that are offered within.

Use the Assistance Topics choice under the Assistance Menu (press F1 cents) has actually an area designated ‘Dealing with Charts’. This area ought to be a great beginning to obtain you going.

To alter the total look of the charts go to: Menu barâEUR “Charts– Characteristics. This permits you to alter the color of the background, foreground, grid, etc.). To readjust the size of the chart, roll over the border of the chart window and hold the mouse button down to readjust the size.

How do i alter the time duration on the metatrader charts?

To include period to the primary menu bar pick VIEW) TOOLBARS) PERIODICITY. (If required) Make use of the following legend for using period to charts:.

M1 = 1 min chart.
M5 = 5 min chart.
M15 = 15 min chart.
M30 = 30 min chart.
H1 = 1 hour chart.
H4 = 4 hour chart.
D1 = daily chart.
W1 = regular chart.
MN = regular monthly chart.

Exists an individual guide for MetaTrader 4.0?

Yes, inside the platform choose ASSISTANCE) HELP SUBJECTS or you could download it by clicking right here. Please note that webinars are readily available to assist with comprehending the functionality of the platform. To take part in these webinars, please e-mail our Sales Division.

Exactly what time area am I seeing on the MetaTrader platform? Can this time be readjusted?

The time that is shown on the MetaTrader is deemed GMT +2. (Greenwich Mean Time plus 2 hours). This could additionally be deemed EST + 7, CMT + 9, or PST +10.

An easy guideline that could help track the time area is: Midnight on the platform coincides with 5 pm EST (New york city Time). Regrettably, the time on the MetaTrader platform could not be altered. We apologize for any hassle.

How do I open an added trial account in the MetaTrader platform?

The actions are as follows:.

In the platform pick FILE) OPEN AN ACCOUNT.
Fill in the Required Details (make certain to examine” I accept register for your newsletters”).
Select Next (on the server page).
Select Next (Please note your username and password will appear).
Select Finish.

The software will then instantly log into your brand-new trial account, which will be shown in the Navigator Window.

Exactly what prevail file extensions supported by Expert Advisor’s?

MQ4 and EX4 are the only file extensions supported.

Exactly what elements affect the outbound and inbound traffic in the program?

Outward bound traffic relies on the individual’s task. Outward bound traffic is actually little. Inbound traffic straight relies on the lot of open chart windows.

Can I get notifies by means of E-mail?

Follow these actions to setup E-mail notifies within MetaTrader 4:.

(All SMTP settings differ relying on your Access provider. Call your ISP’s technical support and ask for the SMTP settings if this mistake message is gotten. You could discover out the SMTP settings by going to Tools) E-mail Accounts) Next) Modification () Revoke when done)) if you utilize Outlook.

Select to TOOLS) CHOICES.
Select the E-MAIL tab.
Edit these settings according to your ISP’s demands. Generally the light red text is a general standard of must be gotten in. For explanation, call your ISP. (Note: web based e-mail services such as Hotmail, Yahoo, Gmail and others will not work).

SMTP Server – This is your ISP’s mail server address. SMTP Login – This is your login ID to access your mail. SMTP Pass – Your mail password. From – This is the e-mail address the e-mail will originate from. This is usually the exact same address as specified in the SMTP login industry. To – The address you desire it to go to.

When you click the “EXAMINATION” button make certain to choose “OKAY” to use the settings, then return into DEVICES) CHOICES to check your settings. See the DIARY (Terminal window) Diary) for any mistake messages. The e-mail settings in the devices menu could be integrated with an Expert Advisor or Alert that causes an e-mail sent out to you. We do not provide support for this.

Browse to the ALERTS tab in the TERMINAL window. Right-click anywhere in this window, and pick “DEVELOP”.
Modification the “ACTION” menu to “MAIL.”.
Set your specifications.
To the far right of the “SOURCE” industry is a button with 3 dots,” …”. Click this button to modify the specifics to your e-mail (i.e. topic and body). Note, to send out an e-mail to your mobile phone bear in mind that some mobile phone are restricted to 160 characters per message, consisting of the subject line.
We recommend modifying the Timeout and Maximum Iterations menus. (see below).
Click Ok.

When the requirements is fulfilled it will wait X seconds when producing an additional signal, Timeout suggests. Maximum Iterations suggests it will create a signal X quantity of times when quiting.

Hence at default settings, if you do not modify this you will get an e-mail every 10 seconds for the next 3 hours).
Can I get notifies on MT4 through text messaging?

To have the platform send out these notifies to a cellular phone as text, place the address in the “To” area in the E-mail choices (DEVICES) CHOICES) E-MAIL)

. This address differs by provider (consult your provider). Right here are some instances:.

AT&T Wireless – 10digitphonenumber@mobile.att.net.
Verizon PCS – 10digitphonenumber@vtext.com.
T-Mobile – 10digitphonenumber@voicestream.net.
Sprint PCS – 10digitphonenumber@messaging.sprintpcs.com.
Alltel – 10digitphonenumber@message.alltel.com.

I have particular individual settings that I would such as to use each time I begin my platform how can I set them to load? (MT4 – Templates).

To conserve the settings to default so that whenever a brand-new chart levels the settings are immediately used (once the chart is customized) go to the “Design template” button (typically the last button on the right of the toolbar), click “Save Design template” and offer your template the name “Default.”.

Conserving a design template will conserve the following chart settings:.

chart kind (bars, candles or line).
color chart scale (zoomed in or out).
any custom signs.
any professional consultants.
day separators.

Exactly what takes place if I have a stop loss on an open order, however I additionally have a tracking stop on the exact same order?

There will be a brand-new stop loss depending upon the tracking stop that you got in if the tracking stop gets induced.

AddThis Social Bookmark Button

How to use Trailing Stop and Indicators in Metatrader

November 11th, 2012 admin Posted in metatrader, metatrader 4 No Comments »

Trailing Stop is an effective forex metatrader tool that allows to automate the process of placing stop-loss on the necessary level form current price. It perfectly suits for situations when the market is moving in one direction and a trader has no possibility to track price changes.

Unlike Stop Loss, Trailing Stop is not executed on a server but in a client metatrader terminal. So you should always remember that in case of turning off the metatrader 4 terminal Trailing Stop will stop moving along price and the Stop Loss level will be fixed on a value that existed at the moment of turning off the metatrader 4 terminal. In order to turn on Trailing Stop, you should open the window “Terminal”, select the necessary order, right-click on it and select the item “Trailing stop”.

indicators in metatrader

You can apply the following options:

  • Delete All – deactivate all Trailing Stop levels on any pending orders and opened positions;
  • None – deactivation of a floating stop-loss  on a long position;
  • Custom – select the level by yourself.

When the Trailing Stop level is set, metatrader terminal constantly verifies the number of points from the entry point to the current price. If there is a necessary “gap”, Stop Loss will be set in accordance with the adjusted parameters. As long as price has started moving in the necessary direction, stop-loss automatically starts following it in proportion to the predefined interval. Thereby, the position for closing a trade in case of unfortunate market movement is automatically fixed on the stop-loss level.

What is mt4 indicator and how to Use it?

Mt4 indicator is a chart calculated by means of carrying out mathematical operations over open and close prices, maximal and minimal prices for a certain time period or a chart of another indicator.

What do traders need best mt4 indicators for? Their purpose is to indicate the direction of price movement and inform about reaching a certain area by price. Sometimes top forex indicators even detect this area, using resources of metatrader.

Fortunately, the Metatrader 4 trading terminal has a lot of built-in indicators so you don’t have to calculate anything manually. Computer will do all the work for you, and you will just receive ready signals about price movement that. All you need to do is to use these signals correctly. Built-in best mt4 indicators are divided into five groups for convenience: trend indicators, oscillators, volume indicators, Bill Williams’ indicators and custom mt4 indicators. In order to use the necessary good forex indicator, you should go to “Insert – Indicators” or use the corresponding button on the standard toolbar.

metatrader indicators

Having chosen an mt4 indicator, you will see the window with tabs, where you can select color and style of metatrader indicator lines, timeframe (it is desirable to use the same timeframe as you use on the chart) and other parameters.

ind metatrader

Mt4 indicator can be placed on the chart as well as in a separate window. To edit the professional forex indicator or delete it, right-click on the indicator and select the necessary item in menu.

The use of indicators significantly increases your chances of success. It is much easier to create a profitable forex system in the basis of signals of indicators.

AddThis Social Bookmark Button

How to Open and Close Positions in Metatrader 4 – Part 2

November 2nd, 2012 admin Posted in metatrader, metatrader 4 No Comments »

Closing of a Position

A trading position is opened when a financial instrument is being bought or sold. Closing of a position allows to make profit at the expense of rate difference. Closing is always an inverse operation relative to the initial trading operation. If you initially buy one lot of a financial instrument, you will have to sell one lot of this financial instrument to close the position. You can close a single position in the Metatrader 4 trading terminal, close a position by an offsetting position or close several offsetting positions.

Closing of a Single Position

A single trading position is closed automatically when price is equal to take profit or stop loss value. If a long position is being closed, the value of orders should be equal to the Bid price, and if a short position is being closed, the value of orders should be equal to the Ask price.

To close a position in the Metatrader terminal manually, you should execute a command of the context menu in the window “Terminal – Trade” and double left click on the open position.

The Metatrader 4 trading terminal allows to open a position partially. To do it, input lot values less that the open position has to the field “Volume” before pressing the button “Close”. A broker can also close a position, for example, if price has reached the level “Stop Out” set by the broker.

Metatrader builds historical charts only on the basis of Bid process, and some part of orders displayed on charts is built on the basis of Ask prices. If you tick the checkbox “Show ask line” in “Tools – Options – Charts”, the Ask price of the last bar will be displayed.

Closing of Offsetting Positions

An offsetting position is an opposite position to the current position on the same currency pair. When there are one or several offsetting positions among open positions, the chosen position can be closed together with an offsetting position. First of all, open the window “Order” in metatrader and select “Close by” on the field “Type”.

At that moment, all offsetting positions will appear in the bottom part of the window of the metatrader trading terminal. Select an offsetting position in the list and press “Close”. Two positions will be closed simultaneously. If offsetting positions have different number of lots, one of them will remain open. Its volume will be equal to the difference of lots, and price and the direction of opening will be equal to the one with a greater volume.

Closing of Several Offsetting Positions

Closing of several offsetting positions on one trading instrument in the metatrader 4 terminal can be done by means of closing of several offsetting positions. To do it, you should also open the window “Order” and select “Multiple Close by” on the field “Type”.

The list of offsetting positions will appear in the bottom part of the window in metatrader 4 and the button “Multiple close by for…” will become active. You can close all offsetting positions by pressing this button. Positions are closed in pairs according to opening time.

AddThis Social Bookmark Button

How to set Stop Loss, Take Profit and Pending Orders in Metatrader

November 1st, 2012 admin Posted in metatrader, metatrader 4 No Comments »

Modify or Delete Orders

Open the window “Terminal” in the metatrader 4 trading terminal and select the position for which you want to set or modify Stop Loss or Take Profit. Right-click on the position and select the point “Modify or Delete Order”.

Changing Take Profit and Stop Loss

Input necessary Take Profit and Stop Loss values in the window of the metatrader terminal and then press “Modify”.

How to set Pending Orders

Pending orders is an effective tool of metatrader 4 that saves a trader from constant staying at the monitor of his personal computer. For example, if you want to buy EURUSD for the price 1.3867, you don’t have to sit down and wait for price reaching this value. You can set a pending order in your Metatrader terminal and continue doing other things. The broker will perform the order even if your terminal is turned off at that moment. You can also set Take Profit and Stop Loss for your pending order.

Go to the Metatrader and open the window “Market Watch”. Right-click on the necessary currency pair and select the item “New order” or press the hotkey F9. Select “Pending order” in the field “Type”.

There are the following fields in the window “Order” in metatrader:

  • Symbol – here you can select the trading instrument;
  • Volume – the field where you can set the volume of a trade;
  • Stop Loss and Take Profit – fields for setting Stop Loss and Take Profit accordingly;
  • Comment – the field where you can write any comment for yourself to simplify work in Metatrader in future;
  • Type – selection of four types of pending orders: SellLimit, BuyLimit, SellStop, BuyStop;
  • at price – here you specify the price that you want to be used by the broker to open a position;
  • Expiry – selection of time after which the order will be irrelevant.

Having finished input of the data in the metatrader 4 window, press “Place”. The pending order will appear in the window “Terminal” next to the line with your account balance. If you want, you can modify or delete the order.

Types of Pending Orders in the Metatrader 4 trading terminal:

There are Four types of pending orders:

Buy Limit – opening of a position at reaching of the set value by the “Ask” price. In this case the current price exceeds the level of the placed order. As a rule, such orders are placed with an eye to price, which will start rising after having descended to the certain value.

Buy Stop – opening of a position at reaching of the set value by the “Ask” price. In this case the level of the placed order exceeds the current price. As a rule, such orders are placed with an eye to price, which will continue rising after having ascended to the certain value.

Sell Limit – closing of a position at reaching of the set value by the “Bid” price. In this case the level of the placed order exceeds the current price. As a rule, such orders are placed with an eye to price, which will start falling after having ascended to the certain value.

Sell Stop – closing of a position at reaching of the set value by the “Bid” price. In this case the current price exceeds the level of the placed order. As a rule, such orders are placed with an eye to price, which will continue falling after having descended to the certain value.

AddThis Social Bookmark Button

How to Open and Close Positions in Metatrader 4

October 24th, 2012 admin Posted in metatrader, metatrader 4 No Comments »

To open a foreign exchange position in Metatrader 4 or enter the market means to perform a buying or selling of a certain sum of money. A position is opened both at execution of a market order or a pending order (automated execution).

Market Order

In order to open a position by means of a market order, you can use several methods: go to “Tools” – “New Order”, double-click on the name of the currency pair in the window “Marker Watch”, press the corresponding button on the tool bar, press the hotkey F9 or choose the command “New order” in the context menu of the windows “Terminal – Trade” and “Market Watch”.

When you open a position in the Metatrader trading terminal, you should fill in the following fields:

  • Symbol – select the currency pair you want to trade on;
  • Volume – select volume of the trade (the number of lots);
  • Stop Loss – set stop loss (optional). If there is 0, it means that Stop Loss is not specified;
  • Take Profit – set take profit (optional). If there is 0, it means that Stop Loss is not specified;
  • Comment – write some comments to the order. Its length shouldn’t exceed 25 symbols. The company reserves the right to add information to your comment of (length – 6 symbols) or modify your comment. If a position has already been opened, the comment cannot be changed. Adding comment to your order is an obligatory step.

Use maximum deviation from requested price – it allows turning on or turning off deviation. Deviation of new price from requested price is calculated in case when the broker sends new execution price. In this case, when deviation does not exceed the set parameter, the order is executed on new price without notification. Otherwise, the broker returns prices on which the order can be executed.

  • Maximum deviation – the permissible deviation of price in points.

When you specify all the necessary data in the Metatrader 4, press “Buy” or “Sell”. A signal to open a short or long position will be sent to the broker. If Stop Loss and Take Profit levels are too close to the current price, you will see the following: “Wrong S/L or T/P”. You should move these levels farther friom the current price and repeat your request in the Metatrader 4 window.

A trading position will be opened after the broker has performed the trading operation and placed Stop Loss and Take Profit. Open the tab “Terminal – Trade” and you will see the status bar of the opened position, and the chart will display price levels of opening Stop Loss and Take Profit, if you turn on the option “Show trade levels”.

Pending Order

First of all, to open a position on pending orders, you should place it. If current prices correspond to order conditions, the pending order will be executed automatically, i.e. a new position will be opened, the status bar of the pending order will be deleted on the tab “Terminal – Trade” in the Metatrader 4, and a new status bar of the opened position will appear instead. Stop Loss and Take Profit that were attached to the pending order will be automatically attached to the opened position.

AddThis Social Bookmark Button

MT4

February 25th, 2012 admin Posted in metatrader, metatrader 4 No Comments »

MT4 is another name for Meta Trader 4. This is a dealing platform that is commonly used by dealers who operate in the retail forex markets with a view to making profits. MT4 was created by a company called MetaQuotes Software and introduced into the market in 2005. The MT4 software is offered out on a license arrangement to brokers who work in foreign exchange trading that will provide software to their respective clients.This MT4 software will comprise of a server and client component.The server aspect of the MT4 software is actually run by the licensed broker and the software the client uses is something that the broker arranges for them.

The customers will then use their MT4 software to monitor charts and prices on a live basis as well as make deals and manage their own account.MT4 found that it was popular as other users could develop their own scripts for dealing as well as trading robots that could deal automatically. MT4 was succeeded in 2010 when MT5 was released but few people decided to use it so these days most will still be using MT4.

How MT4 came about

Since 2002, the company that created MT4 had earlier launched a variety of predecessors but it took them until 2005 to produce a much better version in the form of MT4. In 2007, some broker firms started to include MT4 as an extra option to the software they currently used because it was such a popular platform amongst dealers and its flexibility to co-operate with other programs.This take up of MT4 by broker firms continued until 2010 when MT5 was released.

How MT4 is used

This system has its own editor and compiler built within the system and allows it to gain access to other software, help functions and articles that users can contribute. The software itself uses its own language for scripting called MQL4. This allows dealers to create their own Expert Advisors, scripts and customised indicators. It is felt that the MT4 is as popular as it helps promote algorithmic dealing.In fact, there are some online groups and forums that exist with the sole purpose of developing free software that can be used with MT4.MT4 was originally created so that it can be used as a single trading system where the dealer can manage their own position.But, quite a lot of external creators have devised their own software packages that can link into other financial dealing systems that effectively operate as a hedging system but done automatically.

What makes up the MT4 package?

The full MT4 bundle will consist of:

•    MT4 Client Terminal – this is the part for the client. This is offered up for free from broker firms to allow live trading online as well as practice dealing accounts. It can offer dealing functions, technical analysis and charts on a live basis. Its own language will let its users program in their own signals, trading tactics and indicators. It does also have its own 50 simple indicators supplied and these can also be adapted to the customer requirements. MT4 will run on the various Windows operating systems (98/2000/XP/Vista/7).
•    MT4 mobile – this is the version you can use to look after your dealing account on your mobile phone or PDA. The operating system this runs on is Windows Pocket PC 2002/Mobile 2003.
•    MT4 Server – this is the centre point of the system. This was created to deal with all of the requests from the user and executes all of the deals as well as execution and display of warrants. It will issue quotes on price and news bulletins while also recording and maintaining deal records
•    MT4 Administrator – this exists to manage the settings of the server from a remote base
•    MT4 Manager – this exists to manage all of the inquires into deals and looks after the customer’s accounts
•    MT4 Data Center – this is a particular proxy server which can act as the mediating function between the client terminals and the server. It also helps with the issue of the price quotes

AddThis Social Bookmark Button

Trailing Stop Explanation

January 31st, 2012 admin Posted in metatrader, metatrader 4 No Comments »

Trailing Stop

Knowing when to leave a trade is just as important as knowing when to get in. Seeing how much money you have made and thinking you can make just that little more makes the decision about selling (or buying in a short trade) an emotional one as opposed to scientific.
Clearly, using emotions to trade is far from ideal, which is why trading techniques help to make the decision to trade more of a calculated one as opposed to basing it on fear or greed.

Trailing Stop (Momentum-based)

When looking to use a technique to tell you when to leave a deal, the starting point is the ‘Trailing Stop’
This method states that a sale should be made once a specific level, usually a percentage under market value, is met. This ‘stop-loss order’ means that whatever point the sale is made at, the dealer will know the minimum amount they have made. The dealer’s attitude to risk will determine exactly what level they set the stop-loss order at.
How to decide the right point at which to set the stop at so as to achieve a good profit isn’t easy. This will be influenced more by emotion than calculation simply due to each person’s level of caution when trading.
You might decide that you would like to monitor prices until they settle and then set your stop-loss order just below the ‘consolidation’ level a little while after you have started the trade
In the case of ‘over-valued’ stocks, a trader can be in the fortunate position of having set the stop to protect against losses meaning they can gain handsomely while the price remains inflated.

The Parabolic Stop and Reverse (SAR)

Although the momentum-based stop loss approach can generate continual significant gains, the SAR technique provides a more restrained method. This tends to be more suitable for a less volatile trading environment and offers stop-loss levels on each side of the market, each day changing gradually in line with the price.
A price chart will have this indicator drawn on it at levels that every so often cross the price in the event of a reverse or decrease in momentum of the stock.
This crossover is when the stop occurs revealing a chance for the opposite market to come into play.
Let’s say that your security has sold so you no longer hold that position. You can now use a trailing stop to ‘sell short’ at the directly opposing position to the point that you had earlier ‘stopped’ at the reverse of the market. The ‘parabolic’ tactic therefore gives the opportunity to gain from each aspect of the market taking advantage of the oscillating stock value.
However, the volatility of the stock will influence the effectiveness of the Parabolic Stop and Reverse approach. Too erratic and the trailing stops kick in when you haven’t garnered the profit you could meaning the costs of the transaction are likely to outweigh the benefits if the market isn’t smooth enough.
Secondly, if a stock lacks a meaningful trend then using SAR will mean that the stop point won’t be achieved so you never secure your gains.
So, too choppy a market or too weak a trend and the SAR system will not be effective
But, you may be able to pick the right trailing stop point using the SAR if you can accurately gauge the right conditions somewhere between these two varying market environments.

So, in conclusion….

Knowing where to settle upon your exit level comes down to your ‘attitude to risk’ as a dealer. The more bullish may set their gain levels and potential loss limits by using the less specific method of determining trailing stops using an elementary criteria. Alternatively, the more risk-averse may prefer the SAR approach to allow each side of the market to come into play.
Either way, it is wise to remember that, if intending to use either of these methods, both are influenced by market environments.

http://iticsoftware.com

AddThis Social Bookmark Button

Metatrader Introduction

December 24th, 2010 admin Posted in metatrader, metatrader 4 No Comments »

MetaTrader 4 is one of the most widely used and popular platforms for home broker trading. This application is perfect for Forex stock and commodity traders and can be downloaded for free from the official website of the platform developer – MetaQuotes Software Corporation. As a rule, a lot of brokers offer traders to use MetaTrader 4 as a basic platform for trading. In this case a link for downloading MetaTrader should be provided on the broker’s website. However, not always brokers prefer MetaTrader 4; some of them have their own platforms. In this case there are several servers on MetaTrader 4, from where you can access the data. The only difference between MetaTrader and broker is a rate of currency pairs. This won’t be a big problem and won’t have a significant impact on performance of trading, though.

First of all, download MetaTrader 4 from the official website of using links provided by brokers. After that you should install the software. When installation is finished, you can launch the program. If you see the MetaTrader 4 interface for the first time, it might seem too complex for you, but after spending some time on studying the platform, you will see, that everything is clear. There are divided windows, which give you simultaneous control over orders and different number of pairs. As a rule, there is the Market Watch feature in the top left corner under the menu bar. All information about currency pairs is located on the server. If you need some pair, you can get it by clicking on it or using drag-and-drop movement and this pair will appear in any chart window at your option. Therefore, the efficiency of your actions increases: you waste less time and get necessary information faster. This is very important for Forex trading, because every second counts here.

MetaTrader 4 templates are at your disposal. They help you to achieve better results, corresponding with your individual needs. Profiles can have one or multiple charts. For example, you can use three EUR/USD charts, every of which will have its own timeframe. Or here is another example: you can use three completely customizable different pair charts, when using personally chosen indicators. MetaTrader allows you to customize many elements of the platform (colors, templates, etc.). That is why MetaTrader 4 is one of the best trading platforms with the fullest set of features absent in other alternative platforms.

Almost all Forex traders are familiar with MetaTarder 4 or, at least, heard about it. There is high probability of that you will use MetaTarder 4 as a basic platform for trading. And this is not surprising: MetaTarder 4 is superior among other trading platforms, having the fullest set of features for successful Forex trading.

MetaTrader 4 – Traders Options

If you want to use a personal computer for trading stocks, commodities or Forex, you will need a special trading platform for performance of certain operations: providing information, executing trades, interfacing with broker, etc. This platform gives you specialized tools for making correct trading decisions.

It is very important to choose the right trading platform, because many of them are created to work only with individual brokers. Luckily for us, there are several alternatives. There are trading platforms, which were developed by independent companies. Therefore, such platforms are partnered with multiple brokers. MetaTrader 4 is the best trading platform presented on the market.

Advantages of MetaTrader 4

MetaTrader 4 has several important advantages, which place this platform above the others:

•    MetaTrader 4 is absolutely free.
•    It gives you rich opportunities for customization.
•    You can use back testing for testing your strategies.
•    You can practise using virtual money.
•    MetaTrader 4 is one of the most powerful modern trading platforms.
•    There are a lot of resources, which can be accessed online.
•    More than 300 brokers support MetaTrader 4.
•    Windows Phone powered devices support MetaTrader 4.
•    You will receive necessary data for all major currency pairs in real-time mode.

MetaTrader -The Basics

First of all, open a demo or real account. Then you can download MetaTrader 4 and install the program on your computer. When installation is finished, you can create a chart and start trading.

For creating a chart you should open “File” dropdown menu and click on the “New Chart” item. You can also find the corresponding icon on the tool bar. Then you will see a list of currency pairs; select one in order to continue. Then you will see one hour (H1) chart (settings by default). If you want to see the chart in candlestick, click on the “Candlestick”.

metatrader

If you click the right mouse button in any spot in the chart, the dropdown menu will appear. Select the “Properties” item. A list of settings will appear. You can change them as you want.

metatrader

metatrader

After that you can add some technical indicators and objects. When you finish, save your chart, using a a unique name. Selecting a unique name is very important, because otherwise the default name will be used to entitle the chart.

metatrader

MetaTrader 4 has three main groups of toolbars. In order to make things simpler, they will be named “Windows”, “Charts” and “Objects”.

MetaTrader Windows Toolbar

•W1 This icon is called “New Chart”. As the title says, by pressing it you create new charts. When you click on the “New Chart” icon, a list of six major currency pairs appears. Pairs and additional pairs under MiniForex. There is different number of additional pairs for demo and real account. If you click on a pair, a new window with a chart will appear.

•W2 This icon is called “Profile”. As a rule, a Profile is a chart or several charts with different indicators and objects. When you load the MetaTrader 4 platform for the first time, you will see the default chart. If you make any changes, they will be saved in this default profile. Of course, you can save changes manually to a new profile. It should be noted that it is impossible to delete the Default Profile.

•W3 This icon is called “Market Watch”. If you click on this icon, you will see information about currency pairs, which are available at the moment, and also there will be a vertical window with bid and ask prices. For opening the “Order” window you should double click on a currency pair.

•W4 This icon is called “Data Window”. If you want to open this window, just click on the corresponding icon and you will see the window on the left. If you want to see the available data, then just move the mouse cursor to a candle in the chart.

•W5 This icon is called “Navigator”. After clicking on the “Navigator” icon a window with various scripts will appear to the left. You can select any of these scripts, which include expert advisor, indicators, account, custom indicators, etc.

•W6 This icon is called “Terminal”. If you click on this icon, you will see a window in the bottom of the MetaTrader 4 interface. There is different useful information in this window, including history of trade and account, news inbox, etc.

•W7 After clicking on this icon a window in the bottom of the MetaTrader 4 interface will appear. There will be testing for Expert Advisors in this window.

•W8 This icon is called “New Order”. As the title says, by clicking on it the Order window will appear (hotkey F9). The currency pair will be the same as in the current active chart.

•W9 This icon is called “Meta Editor”. If you click on this icon, you will see a window with editing parameters for scripts, Expert Advisors and custom indicators. It should be noted that there is lot of technical parameters in this window, and it is highly recommended that inexperienced users do not make any changes here. This window is for programmers only.

•W10 This icon is called “Expert Advisor”. If you click on this icon, you can either enable or disable the Expert Advisors.

MetaTrader Charts Toolbar

metatrader

•C1 This icon is called “Bar Chart”.

•C2 This icon is called “Candlestick Chart”.

•C3 This icon is called “Line Chart”. If you click on this icon, you can change type of the active chart.

•C4 This icon is called “Zoom In”. As the title says, it is used for zooming into a chart (maximum 5x zoom).

•C5 This icon is called “Zoom Out”. As the title says, it is used for zooming out of a chart (maximum 5x zoom).

•C6 This icon is called “Auto Scroll”. After activating this icon the latest bar will be constantly displayed on the screen. After deactivating this icon older bars will be displayed.

•C7 This icon is called “Chart Shift”. As the title says, it is used for shifting the label of the chart (a small gray triangle in the upper corner of the window).

•C8 This icon is called “Indicators”. You can choose indicators right from this icon without necessity of opening the “Navigator” window.

•C9 This icon is called “Periods”. By clicking on this icon you can set the desired period of an active chart. It can be a period from 1 minute (M1) to monthly (MN) period. There is the other way for selecting periods: the Period Toolbar.

•C10 This icon is called “Templates”. By clicking on this icon you can delete, save or load templates in accordance with your needs.

MetaTrader Object Toolbar

metatrader

•O1 This icon is called “Cursor”. By clicking on this icon you can activate a standard arrow, which can be used for selecting items by default.

•O2 This icon is called “Crosshair”. Here is how you should use this element:
a)    Activate the “Crosshair” icon and move a cursor to an active chart window.
b)    Choose the initial position, press the left mouse button and hold it while moving the cursor to the final position.
c)    You will see a line between the initial and the final positions.
d)    The following data will be displayed on the screen: numbers of pipes or number of bars or price.
e)    When you no longer need the displayed information, just release the mouse button.

•O3 This icon is called “Vertical Line”. Here is how you should use this element:
a)    Select tool and position for this tool.
b)    Place the tool at this position.
c)    If you want to change anything, use double-click.
d)    Line and handles will be selected, and two small white squares will appear.
e)    For opening line properties you should right click near it.
f)    Make necessary changes.
g)    If you want to remove handles, use double-click.

•O4 This icon is called “Horizontal Line”. The “Horizontal Line” has the same functions as the “Vertical Line”. The only difference is in its horizontal placement. The “Horizontal Line” is used for drawing Support and Resistance levels.

•O5 This icon is called “Trendline”. If you want to draw or slant a trend line, you should use “Trendline”. Here is how you should use this element:
a)    Select a tool and position for this tool.
b)    Place the tool at this initial position.
c)    Press the left mouse button and hold it while moving the cursor to the final position.
d)    The Trendline will snap to the nearest point.
e)    If you want to check if you selected the right points, use double-click.
f)    3 handles will appear: two at the ends of the line and one in the middle.
g)    The handle in the middle is used for moving the line. Other two handles are joined to the candles.
h)    Then you can move the handles at the ends. These handles are automatically attached at the ends of a candle.

•O6 This icon is called “Equidistant Channels”. This element is almost the same as the previous one, but there is one difference: there is the second line, which is placed parallel to the first one. Here is how you should manage this element:
a)    If you want to see the handles, use double-click.
b)    3 handles will appear for the first line (two at the ends of the line and one in the middle) and one handle for the second line.
c)    Click on the handle, hold the left mouse button and drag it for snapping to the desired point.
d)    In this case a new channel will be created.

•O7 This icon is called “Fibonacci Retracement”. Here is how you should use this element:
a)    Click on the “Fibonacci Retracement” tool for selecting the initial position.
b)    Press the left mouse button and hold it while moving the cursor to the final position.
c)    After that you will see Fibonacci Retracement lines, which will snap into position.
d)    If you want to see the handles, select the main line.
e)    3 handles will appear. You can use them in the same way as in the case of the “Trendline” tool.

•O8 This icon is called “Text”. If you want to write some text in any place of an active chart, you can use this element.

•O9 This icon is called “Text Label”. If you want to place a label in any place of an active window, you can use this element.

•O10 This icon is called “Arrows”. If you want to inset some graphical signs (arrows, etc.) into charts, you can use this element.

MetaTrader. Open or Close a Position

In order to open the “Order” window you should do the following:

1.    Open the “Terminal” window and right click on the “Trade” or “Market Watch” tab. After that a context menu will appear, from where you should select the “New order” item.
2.    Open the “Chart” window, right click on it for opening a context menu, and select Trading -> New Order.

metatrader

•Symbol – A currency pair
•Volume – Number of lots
•Stop Loss – The level of Stop Loss order
•Take Profit – The level of Take Profit order
•Comment – Notes

When you have pressed “Buy” or “Sell” button, the deal is considered to be confirmed by the broker. Now your position is opened no matter if it is long or short.

In order to close a position you should open the “Terminal” window and select your position in the “Trade” tab. Right click on the position for opening a context menu and click on the “Close Order” item.

metatrader

There is another way for closing a position: you just need to open the “Terminal” window and double click on the position you want to close in the “Trade” tab.

MetaTrader. Stop Loss & Take Profit Orders

“Stop Loss” is an order which closes a position, if a price is less profitable than it was in the moment of placing the order.

“Take Profit” is an order which closes a position, if a price is more profitable than it was in the moment of placing the order.

Both “Take Profit” and “Stop Loss” orders are placed without any actions from the trader’s side, i.e. they are executed automatically at a definite order level. You can set these parameters in the “Order” window.

If you want to change value of “Take Profit” and “Stop Loss”, open the “Terminal” window and right click on a pending order or an open position. A context menu will appear, from where you should select the “Modify or delete order” item.

MetaTrader. Trailing Stop

If a “Trailing Stop” has been placed, the following will occur:

• The open position should bring profit (minimal amount – 15 pips), and only after that the “Stop Loss” order will be placed. In this case a command will be sent by MetaTrader 4 for placing the “Stop Loss” order 15 pips higher or lower in comparison with the current price.

• In case the interval between order level and the current price is more than 15 pips, the “Stop Loss” order” will be changed by MetaTrader 4 so that its level is 15 pips higher or lower in comparison with the current price. Therefore, the “Stop Loss” order and the current price will be closer.

metatrader

Installing Expert Advisors

Professional expert advisor

Sometimes MetaTrader 4 trading robots have integrated installation packages, so they are installed automatically without need to do anything manually. But there are some bots, which do not have installation packages, so you have to install them manually. However, the process of installation of these bots is very easy: all you need to do is to place some files in the right folders on your personal computer.

Expert Advisor Installation

1. Download “Expert Advisor”. Select a location on your hard drive and start downloading process. Please, make sure that the file you’ve downloaded is not archived. If it is a zipped file, first of all, unzip the contents and place it to the correct directory.

2. If you have OS Windows Vista or Windows 7, you don’t have to download and install some third party software for unzipping the file with “Expert Advisor”. In case you are using Windows XP, 2000, or earlier version of this operating system, please, download and install any zip program. There are a lot of free zip programs, for example, “jZip”.

3. When downloading process is finished, the next step will be integration of “Expert Advisor” with MetaTrader4 program. In order to able to continue you will have to create a real or demo account. If you have an account, you can continue the process of installation.

4. The “Export Advisor” has the extension .ex4 or .mq4. Copy this file, but do not mix up the file with the folder. Right click on the file and select the “Copy” item from the context menu. Another option is to select the file and press the “Ctrl+C” combination.

5. Open “My Computer”, next “Drive C”, then find the “Program files” folder and open it. There should be the folder named “MetaTrader” or any other folder with similar name. It also may be named FxOpen-Metatrader, etc. When you find the folder with your MetaTrader4 platform, open this folder and find there the folder named “experts”. Open this folder, too.

6. Next you should paste the “Expert Advisor” file in the folder. You can do it by pressing the “Ctrl+V” combination. Another option is to right click in the free space of the “experts” folder for calling the context menu and to select the “Paste” item.

metatrader

7. You should close MetaTrader platform in order to allow the changes to take effect. After that open the platform and make sure that “Expert Advisor” is installed properly and working fine. Open View -> Navigator and in case the process of installation ended properly, “Expert Advisor” will show up.

Activating Expert Advisors

The process of activation of “Expert Advisor” is very simple. Here are the necessary steps:

•    Open the “Tools” menu.
•    Open “Options”.
•    Go to the “Expert Advisors” tab.
•    Tick off the items “enable the expert advisor” and “allow live trading”.
•    In case of presence of DLL file tick off the item “allow dll import”.
•    In case of presence of external experts or indicators tick off the item “allow external experts import”.

metatradeder

Using the Metatrader Strategy Tester

If you want to make sure that your strategy or function works fine, you can test them using the “Strategy Tester”.

In order to test a strategy you should do the following:

•    Open menu and select View -> Strategy Tester.
•    Choose the Expert Advisor to be tested.
•    Choose the parameters of the Expert Advisor (use the “Expert Properties” button).
•    Choose the currency pair for the test.
•    Select the currency pair for the test.
•    Select the timeframe.
•    Choose the “Model”. It should be noted that the quickest way is to select “Control Points”, but the “Every tick” allows you to achieve the best quality of modeling.
•    Use “Optimization” for setting the best parameters for the Expert Advisor.
•    Use “Visualization” for following positions taken by EA.
•    Use “Use Date” for presenting testing period. In case of absence of testing period all available data will be taken by the “Strategy tester”.

There are three worksheets, where you can find all results of testing: Report, Graph or Results. Each of worksheets shows you different kind of information.

metatrader

The test result will be seen in the worksheet Results, Graph or Report, each presenting the information in different ways.

metatrader

MetaTrader Hot Keys

The MetaTrader 4 platform allows you to use a lot of useful hotkeys, which ease the work with the platform. Here is the list of all MetaTrader 4 hotkeys:

The left arrow key (←) – used for scrolling the chart to the left
The right arrow key (→) – used for scrolling the chart to the right
The up arrow key (↑) – used for quick scrolling to the left; in case the scale is defined, this key is used for scrolling up
The down arrow key (↓) – used for quick scrolling to the right; in case the scale is defined, this key is used for scrolling down
The “Numpad 5” key – when you make changes in the vertical scale of automatic chart, this key allows you to restore it; in case the scale is defined, you can use the “Numpad 5” key to show the chart
The “Page Up” key – used for quick scrolling to the left
The “Page Down” key – used for quick scrolling to the right
The “Home” key – allows you to open the initial point of the chart
The “End” key – allows you to open the end point of the chart
The “-” key – used for zooming out
The “+” key – used for zooming in
The “Delete” key – used for deleting objects
The “Backspace” key – used for deleting recent objects, which were placed in the chart window
The “Enter” key – used for opening or closing the “Navigator” window
The “Esc” key – used for closing the dialog window
The “F1” key – used for opening the user guide
The “F2” key – used for opening the “History left” window
The “F3” key – used for opening the “Global Variables” window
The “F4” key – used for downloading MetaEditor
The “F5” key – used for changing profiles
The “F6” key – used for opening the “Tester” window, where you can perform test of EA of the current chart
The “F7” key – used for opening the “Properties” window of EA of the current chart; then you can make necessary changes
The “F8” key – used for opening the “Chart Setup” window
The “F9” key – used for opening the “New Order” window
The “F10” key – used for opening the “Popup prices” window
The “F11” key – allows you to activate/deactivate the full-screen mode
The “F12” key – used for moving the chart by one bar to the left
The “Shift+F12” combination – used for moving the chart by one bar to the right
The “Shift+F5” combination – used for opening the previous profile
The “Alt+1” combination – represents the bar chart
The “Alt+2” combination – represents the candlesticks chart
The “Alt+3” combination – represents the broken line chart
The “Alt+A” combination – used for copying the results of testing and optimization
The “Alt+W” combination – used for opening the chart managing window
The “Alt+F4” combination – used for closing the client terminal
The “Alt+Backspace” or “Ctrl+Z” combination – used for cancelling deletion of an object
The “Ctrl+A” combination – used for applying default height to all indicator windows
The “Ctrl+B” combination – used for opening the “Objects List” window
The “Ctrl+C” or “Ctrl+Insert” combination – used for copying
The “Ctrl+E” combination – used for activating or deactivating expert advisor
The “Ctrl+F” combination – used for enabling “Crosshair”
The “Ctrl+G” combination – used for opening/closing grid
The “Ctrl+H” combination – used for opening/closing OHLC line
The “Ctrl+I” combination – used for opening the “Indicators List” window
The “Ctrl+L” combination – used for opening/closing volumes
The “Ctrl+P” combination – used for printing the chart
The “Ctrl+S” combination – used for saving the chart; there are the following file extensions: CSV, PRN, HTM
The “Ctrl+W” or “Ctrl+F4” combination – used for closing the chart window
The “Ctrl+Y” combination – used for opening/closing period separators
The “Ctrl+Z” or “Alt+Backspace” combination – used for cancelling deletion of an object
The “Ctrl+D” combination – used for opening/closing the “Data” window
The “Ctrl+M” combination – used for opening/closing the “Market Watch” window
The “Ctrl+N” combination – used for opening/closing the “Navigator” window
The “Ctrl+O” combination – used for opening/closing the “Setup” window
The “Ctrl+R” combination – used for opening/closing the “Tester” window
The “Ctrl+T” combination – used for opening/closing the “Terminal” window
The “Ctrl+F6” combination – used for opening the following chart window
The “Ctrl+F9” combination – used for opening the “Terminal — Trade” window; when the window is opened, you can use the keyboard for controlling the trading activities

Some Tips & Pointers

1. The “End” button allows you to reach the end of the opened chart
2. In case you need to reset a price scale to Auto, it can be done by double click in any place on this price scale.
3. To find a chart scale, the length of the dotted-line period separators for the Pivots program is 20 pips Cable or equivalent to the other currency pair.
4. If you need to extend a line, but do not want to change its position, i.e. do not want to move it, do the following: highlight the line, after that press the “Shift” button and hold it, then click on an end point and drag it up to the necessary length.
5. If you need to copy a line, do the following: highlight the line, after that press the “Ctrl” button and hold it, then click on the line and drag it to the necessary place. The original line will be completely copied, i.e. its color, attributes, thickness and other parameters will be given to the replicated line.
6. If you need to delete some indicators from every single chart, you should do the following: first of all, open the “Navigator” window, and then open the custom indicators folder. Next call context menu by clicking the right mouse button on necessary indicators and select the “Delete” item. You should restart MetaTrader platform in order to allow the changes to take effect.
7. If you need to attach indicators to charts, you should do the following: first of all, open the “Navigator” window, and then open the custom indicators folder. For attaching indicators to the desired charts you should select and drag them to each chart window.
8. If you need to speed up the MetaTrader 4 platform, you should do the following: open tools -> options, after that open charts tab. There you should lower the maximum bars. In order to do it, input necessary values for History and Charts.
9. If you need to delete anomalous spike of data, you should do the following: open tools -> history (the “F2” hotkey), and then select the relevant currency pair and time period. Find necessary date and time, select them and delete. If you want the changes to last, do not refresh the chart. All changes will be canceled only after refresh.

AddThis Social Bookmark Button