Which are the Top MetaTrader 4 Tips and Tricks?

MT4 is the industry-standard and the most widely used trading platform around the globe. Traders use it to trade CFDs on forex and other markets and to automate their trading as well. The platform has an easy-to-understand interface and provides both retail forex traders and fund managers with access to advanced trading tools and systems.

MetaQuotes Software released MT4 in 2005 and the MetaTrader 4 download option is made available to clients through online forex brokers. Read on to discover the top MetaTrader 4 tips and tricks as well as the platform’s main features and advantages.

MT4: How it works & useful features

As already mentioned, the MT4 download option is available through any online CFD broker. The platform has an intuitive interface and is very easy to use. Also, it is extremely customisable. As a result, both beginner and professional traders can tailor the platform to their trading needs and requirements. Most importantly, the platform is supported by Windows, iOS, Android, MacOs, and WebTrader.

For example, through Metatrader 4 for pc, traders can manage orders, positions and equity online on all order types and execution modes. They are also able to monitor prices and forex rates of financial instruments. Advanced charting, a variety of indicators as well as online streaming news are also offered. MT4 mac is also available through any broker.

Tip 1: Measuring distances

Once you download MT4, you will be able to use the ruler function which allows traders to calculate one point to another on a chart. Bring up the crosshairs and then keep the left button of the mouse pressed down and drag it to another point on the chart to measure the distance. You will then see 3 pieces of data about bars, pips and prices.

Tip 2: Create a chart template

Some traders use multiple indicators in their trading, all of which can be laid over a chart rather than setting each one up separately every time a new chart is open. Traders can open a chart, apply all the preferred indicators, right click on the chart, then click on “Template”, “Save Template” and finally name the template.

Tips 3: Adding one indicator to another

To add one indicator to another, you should first add the first indicator and then proceed to open the Navigator window. There, you will see a drop-down list with other indicators. Find the one you prefer and add it to the first one by dragging it onto the chart. A Properties window will pop up automatically. You should click “Apply to” and then choose “First Indicator’s Data”.

Tip 4: Drawing tool tip

A trendline is a drawing tool offered by the MT4 trading platform. To draw a channel, choose a trendline and draw a parallel line by pressing ctrl and left-click on a line. This way, you can also copy any other object instead of going to the menu to re-create one. The properties of each object can always be edited by double clicking them.

Why trade on the MetaTrader 4?

One of the main advantages is the MetaTrader 4 free download option and the fact that traders can get access to: 

  • Real-time quotes in Market Watch
  • 9 time-frames & history of trading operations
  • 30 indicators & 24 graphical objects for technical analysis and reliable data protection.

Traders can also trade via any browser on the go through their mobile. Numerous people around the world choose the platform for its reliable performance and stable operations.

Trade on the MT4 with IronFX

IronFX is an online forex broker with years of market expertise. The IronFX MetaTrader 4 trading platform enables traders to sharpen their trading skills and boost their knowledge. They can also take advantage of the broker’s variety of trading instruments and accounts as well as competitive conditions, flexible leverage and ultra-low spreads.

DISCLAIMER: This information is not considered as investment advice or an investment recommendation, but is instead a marketing communication

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