MetaTrader 4
The MetaTrader platform has been developed by MetaQuotes to give both experienced and novice traders an advantage in the trading room by offering live quotes, real-time charts, in-depth news and many other features that undeniably improve trading conditions.
A key feature and part of the success of MT4 is the availability of the bespoke MetaTrader programming language – MQL. This allows users to program custom indicators and Expert Advisors with ease. Expert Advisors (EA’s) are automated trading strategy robots that trade the FX market 24/5 without user intervention. MQL also allows for full customisation including advanced charting.
The Market Watch Window is a primary component of the trading platform that provides a detailed overview of various instruments available for trading. Traders can customise it by adding or removing symbols based on their preferences. Additionally, it provides a convenient way to access the charting functionality of MT4.
The Navigator Window serves as a streamlined portal to key trading features and resources, organised into five categories: 'Accounts' for portfolio management, 'Indicators' for market analysis, 'Expert Advisors' for trading automation, 'Scripts' for custom trading actions, 'Custom Indicators' for personalised tools, and 'Favourites' for quick access to regularly used features.
There are many different ways traders can enter and execute trades. MT4 offers several order types, including Market Order, Limit Order, Stop Order, Stop-Limit Order, Pending Order and Trailing Stop.
Analysis tools are the features and indicators designed to assist traders in conducting technical analysis of financial markets. They include charting tools, technical indicators (built-in and custom), expert advisors for automated trading, access to market news and economic calendars, and the strategy tester for backtesting trading strategies.
MT4 has the ability to display and customise multiple charts simultaneously within the trading platform. Traders can arrange and save different chart configurations, allowing them to monitor multiple financial instruments, timeframes, and technical indicators simultaneously.
Traders can use Expert Advisors (EAs) to execute trades automatically based on pre-defined trading rules and algorithms. They can develop or import EAs into MT4, which can analyse market conditions, generate trading signals, and execute trades without manual intervention.
MetaTrader 4 is available for PC, Mac, iOS, Android, and as a web app.
