MetaTrader 4 is a popular electronic trading platform developed by MetaQuotes Software Corp., which was first released in 2005. MetaTrader 4 is one of the most popular trading platforms in the forex, stock, commodity, and futures markets industry. This platform offers an easy-to-use and multi-functional interface for traders, making it easier to execute trades, analyze markets and manage accounts. MetaTrader 4 features a comprehensive set of technical indicators and analysis tools, helping traders make informed decisions.
In addition, MetaTrader 4 allows traders to use “Expert Advisors”, which are automated trading programs that automatically execute trades according to pre-defined settings. Users can also execute trades on the go using MetaTrader 4 apps available for smartphones and tablets. MetaTrader 4 is very popular among traders due to its ease of use and ability to meet diverse trading needs.
As for analysis tools, MetaTrader 4 includes a wide range of technical analysis tools, including well-known technical indicators such as moving averages, Bollinger Bands, RSI, MACD, and others. You can also perform advanced analyzes using charting tools such as Japanese candlesticks, trend lines and channels.
Regarding automated trading, MetaTrader 4 offers the possibility to use Expert Advisors, which are customizable automated trading programs. Traders can program their own technical indicators and trading signals and use them to automatically execute trades based on pre-defined criteria. Traders can also develop their own Expert Advisors using the built-in MQL4 programming language.
The MetaTrader 4 platform provides a comprehensive trading experience, where traders can take advantage of additional features that enhance the trading experience. It makes it easier for traders to analyze the markets and make better decisions by using well-known technical indicators such as moving averages, Bollinger Bands, and indicators such as RSI and MACD, which contribute to identifying market trends and potential trading opportunities.
Download the MT4 platform
After creating your account, proceed to download the MT4 platform to your chosen device. You will then be able to log in using your login details. Open a position using the Orders window and when you are ready to place a trade, go to Tools and click New Order. This will display the Orders window. Alternatively, you can press F9 on the keyboard. Since order windows may seem daunting at first, here’s a quick guide to all the components: Symboly This drop-down menu allows you to choose the market you want to trade and Volume in CFD accounts Volume refers to the number of contracts you want to trade.
And Stop loss: If you want to use a stop order to close the trade if it moves against you, you must enter the level you want here. Stops in the MT4 platform are similar to the basic stops on our trading platform and Take profit. If you want to use a limit order to close when making profits, here you have to enter the level you want and Comment A small space to leave a comment about a specific trade, or for advanced trade management purposes.
Type Choose instant execution if you want to start trading the moment you choose to buy or sell. Or you can choose a pending order if you want to choose the level at which to open your trade.
Enable maximum deviation from the quoted price – Trades may sometimes be rejected if prices move suddenly while you are creating trades. If you still want to trade within a certain price range, check the box, then fill in the maximum deviation box with the points (based on current prices) that you are willing to accept
Can MetaTrader 4 be used to trade digital currencies?
You can use MetaTrader 4 to trade cryptocurrencies as well. Although MetaTrader 4 was originally developed for trading foreign exchange (forex), stocks, and commodities, it has become very popular in cryptocurrency trading as well. Cryptocurrencies such as Bitcoin, Ethereum, Litecoin and other currencies are considered digital assets that can be traded on the Internet. You can download Plugins or contact a financial broker that supports cryptocurrency trading on the MetaTrader 4 platform to trade with.
When you use MetaTrader 4 to trade cryptocurrencies, you will enjoy the same basic features and functionality as MetaTrader 4 such as analyzing charts, using technical indicators, and executing trades. You can also use Expert Advisors to execute automated trades and implement your own trading strategies. However, you should make sure that the financial broker you use provides support for trading cryptocurrencies on the MetaTrader 4 platform. Before you start trading cryptocurrencies, it is recommended that you familiarize yourself with the market requirements and understand the risks associated with it.
It should also be noted that there are cryptocurrency exchanges such as Binance, Coinbase, etc., which may provide more specialized functionality for cryptocurrency trading. It may also be a good idea to study these platforms and compare them with MetaTrader 4 before making a trading decision.
MetaTrader 4 and social trading capabilities
Social Trading: MetaTrader 4 also supports social trading, where traders can share their trades and trading signals with the trading community. Traders can track and copy the trades of successful traders and benefit from their experience.
Security and Privacy: The MetaTrader 4 platform has a high level of security and encryption to ensure the safety of traders’ financial data and personal information. Communications between the platform and servers are secured using advanced security protocols.
Compatibility and Support: MetaTrader 4 is available to download and use on Windows and Mac operating systems and can also be accessed through mobile apps for Android and iOS devices. In addition, a wide range of online tutorials, articles and videos are available to help you understand how to use MetaTrader 4 effectively.
Automate your trading via MetaTrader 4 (MT4). As a popular online trading platform, its simplified user interface gives you access to advanced technical analysis and flexible trading systems. Learn more about what the MT4 platform is and how to use it.
How to use MT4?
- Create an account first
- Download the MT4 platform
- Open a position using the Orders window
- Monitor and close your positions and pending orders
- Modifying stops and limits on open positions
- Customize MT4 charts
- Set up price alerts
- View your trading history
- Download trading reports
Choose from thousands of MT4 indicators and add-ons
These add-ons and indicators are a huge advantage of using the MT4 platform. Indicators are technical analysis tools designed to help you make informed decisions when trading. With our MT4 account, you’ll get access to the Renko indicator, past order histories and pivot points – plus many other indicators. Add-ons, on the other hand, are designed to help you customize the MT4 platform to better suit your personal trading goals and styles. Our free add-ons include a widget, hidden requests, and a notification manager
