Metatrader 4 manual pdf download

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Download Free PDF. Muhammad Imran Khan. Related Papers. Mathematical Methods of Operations Research Application of average dynamic programming to inventory systems. MetaTrader 4 User Manual V 1. If ou re e to the program, you can walk step-by-step through this manual to learn how to login and access specific MetaTrader features. If ou e ee usi g auto ated tradi g s ste s for a hile, e e i luded a detailed table of contents so you can quickly reference how to use a specific section or tool in the MetaTrader platform.

What are MetaTrader and MetaEditor? MetaTrader is an online trading system that allows you to place trades, manage open positions and pending orders, and conduct technical analysis.

You can also use MetaTrader with automatic trading and analysis tools. Once these tools are active in the chart window, MetaTrader automatically executes and manages orders based on market conditions and the settings you specified. This user manual provides a comprehensive look at all of the tools and features in MetaTrader. This manual also provides an overview of MetaEditor, an application installed with MetaTrader that develops autotrading tools. With MetaEditor, traders can import, create and modify expert advisors, custom indicators, scripts and other MetaTrader autotrading tools.

If you are new to trading currency pairs, FXFlat offers a variety of free resources to help you learn about the market and how you can reach your personal tradi g goals.

Visit FXFlat s e site to fi d out ore. MetaEditor is a development tool. If you plan on creating and editing autotrading files, you should be familiar with the MQ4 programming language. E e if ou are t fa iliar ith progra i g, ou a use the appli atio to do load autotradi g files. Describes information on the action of a tool or feature in MetaTrader.

When you see this symbol, it provides a larger context for information and procedures. Provides hints, tricks and shortcuts that may help you as you place and monitor trades in MetaTrader.

Alerts you of critical information that you need to know when you perform a particular procedure. I this se tio , ou ll re ei e a o er ie of the tools a d features that ou ll use hile tradi g i MetaTrader. You can open, move, arrange, resize and close windows as you see fit. You a use optio s i the se e e us that appear here to manage windows and other tools while you trade. File пїЅ Displays menu options for opening and printing charts, managing chart profiles and displaying account information.

You can also manage your language preferences and access the Strategy Tester from this window. Insert пїЅ Displays menu options for displaying indicators, drawing and analytic objects and text in the chart window. Charts пїЅ Contains menu options for managing the appearance of the chart window.

You can change the time frame and chart type as well as display grid features. Tools пїЅ Contains tools for placing orders, displaying the History Center, accessing MetaEditor and customizing the interface. Window пїЅ Displays menu options for arranging the windows in the MetaTrader workspace. MetaEditor is an application installed with MetaTrader that enables traders to import, create and modify expert advisors, custom indicators, scripts and other autotrading tools.

MetaTrader Toolbars MetaTrader groups its most commonly used tools on four toolbars. You can access these by clicking the View menu, selecting Toolbars and then clicking on the menu option for the toolbar you want. The Standard toolbar contains tools for displaying windows in the MetaTrader workspace. The Charts toolbar displays tools for managing the appearance of the chart window. The Line Studies toolbar contains tools for displaying drawing and analytic objects and text in the chart window.

The Periodicity toolbar displays tools for managing time frames of the chart window. You can customize all of the toolbars so that they contain only the tools that you use. These are displayed on two tabs. The Symbols tab displays a list of instruments to trade and their prices. The arrow beside the instrument symbol shows if the price is rising or falling.

The Bid and Ask prices will appear in a different colour. If the price is lower than the last reported one, the numbers appear in red. If the price is higher than the last reported one, the numbers appear in blue. You can double-click on an instrument to view the Order window and place an order to trade.

If you right-click on an instrument when the Symbols tab is selected, you can access a drop-down menu with several options. New Order displays the Order window.

Chart Window opens a new chart window. Tick Chart changes the S ols ta to the Ti k Chart ta. You can customize the Market Watch window so that it hides instruments as long as there are no open positions or pending orders attached to it. Hide removes a single instrument symbol from the window. Hide All temporarily removes all instrument symbols in the window.

Show All displays the list of all available instruments. This displays the Symbols window where you can select the instrument you want to appear in the Market Watch window by clicking Show or Hide. Hidden instruments will have a gray symbol next to their name. You can view information, such as pricing and size, for each instrument by clicking Properties. When you hide an instrument in the Market Watch window, that instrument will also be hidden in other tools as well.

O e ou set up the S ols ta so that it s o l sho i g the i stru e ts that ou a t, ou a sa e the group of instruments as a set by right-clicking in the Market Watch window, selecting Sets and clicking Save AsпїЅ If ou ha ge hi h i stru e ts are displa ed, ou a al a s retur to that set of i stru e ts right- clicking in the Market Watch window, selecting Sets and clicking on the name of the set.

You can also change the appearance of the table by selecting Auto Arrange, which resizes the columns automatically if the Market Watch window size changes, or Grid, which displays lines between the rows and columns. You can click on the Tick Chart tab to display a chart of the selected instrument with its price movements measured by the tick. The Tick Chart captures the buy prices with a buy line which appears in red when you first open MetaTrader.

If you right- click in the tab, you can view the ask price movements by right-clicking in the window and selecting Ask Line. This appears on the chart as a blue line. The Navigator Window As ou trade, ou ll a t to add i di ators to hart i do s as ell as a ti ate MetaTrader s autotradi g tools, such as expert advisors, custom indicators and scripts.

The Navigator Window is where you can view all of the available tools. The Navigator window is divided into two tabs. On the Common tab, you can select menu options from a grouped list. To hide them, click пїЅ next to the group name. If you have more than one account, you can use this menu to login to another account. If you right-click on an account, you can access a drop-down menu which includes options to login to an account, delete an account, or open a new practice account.

Indicators shows a list of up to different technical indicators depending on your account type that you can add to the chart window. Many traders use technical indicators to forecast where the market may be going. You can right-click on the indicator you want and click Attach to Chart from the drop-down menu to display it in a chart window. Expert Advisors contains a list of all available expert advisor strategies; these are programs that automatically analyse market conditions and place trades based on criteria you set.

Custom Indicators displays a list of trader-modified technical indicators. Scripts contains a list of available scripts; these are programs that perform a single trading action once. You can download expert advisors, custom indicators, scripts and libraries from other sources or create them in MetaEditor, an application installed with MetaTrader that develops autotrading tools. If you right-click on a specific indicator, expert advisor, script or custom indicator, you can select Add to Favorites from the drop-down menu.

You can then view these on the Favorites tab on the Navigator window. Prices appear on the right side of the chart and the time and date appear along the bottom. There are several ways to open the chart window. One of the most common is to right-click on an instrument in the Market Watch window and select Chart Window. You can open more than one chart at a time up to 99 can be displayed.

When the Charts Bar is active, you can switch between them by clicking the instrument tab at the bottom of the window. You can customize the chart window using the tools in the Chart toolbar. If you do not see the tabs on the bottom of your chart, click the View menu and make sure Charts Bar is check marked. The Terminal Window You can monitor your trading activity, manage your expert advisors and perform other trading tasks in the Terminal window. This usually appears at the bottom of the MetaTrader workspace.

These features are arranged in the window on several tabs. If the Terminal window is not displayed, you can view it by clicking the View menu and selecting the Terminal menu option. This is here ou ll a age all of our trades.

While the Trade tab contains fields for balance, equity and margin data, you should not use these to moderate your account. The Account History tab compiles a list of all executed trades.

You can also view your profit and loss, credits, deposits and withdrawal information. The News tab displays all the latest streaming financial news. The Alerts tab shows a list of alerts. You can also use this tab to set alarms to notify you when an instrument has either reached a specific price or crossed an indicator trend line. You can also view positions the expert advisor opened or closed. The Journal tab displays system messages about your account, such as login times, orders filled or edited and positions closed.

Not all tabs will appear when you first open the Terminal window. For example, the Experts tab does not appear when you first open MetaTrader. This tab remains hidden until you receive input from MetaEditor, an application installed with MetaTrader that enables traders to import, create and modify expert advisors, or another MQL4 program. The Data Window The Data Window displays price information for the instrument in the displayed chart.

You can view the open, high, low and close as well as the date, time and volume. When an indicator or a custom indicator has been attached to a chart, you can view information about it in this window. Copy allows you to copy information from the Data Window. When checked, Last Data displays a column in the Data Window which contains the latest open, high, low and close. When checked, Auto Arrange automatically resizes the columns in the Data Window if the window size changes.

When checked, Grid displays a border around the rows and columns in the Data Window. You can choose which information appears in the Data Window by selecting Show and then checking or unchecking the options in the drop-down menu.

The Settings tab is where you specify which expert advisor, the testing period, modelling and other information. The Jour al ta displa s a list of s ste essages a out the e pert ad isor s test, su h as orders filled a d positions closed. The Results tab displays a table that contains information about all of the trades that were executed during the test.

The Graph tab shows the test results. After a test, you can view a graph which maps your balance with a blue line and the number of lots with a green line. You can view this information in a legend that appears in the upper left corner. The Report tab displays statistics about how the test was performed. The Optimization Results tab displays a table that contains information about all of the trades that were executed during the optimization.

The Optimization Graph tab displays a graph which maps your profitable trades in a green line and your unprofitable trades in a red line. Not all tabs will appear when you first open the Strategy Tester window. For example, the Results tab, Graph tab and Report tab appear only after the expert advisor has been tested. The Account History The "Account History"-Tab lists all the trades, which are already closed and - in a final summary - the profit or loss of the shown trades.

The viewing period can be set individually for example: the completed trades from the last month can be displayed.

To do this, make a right-click the context menu and select for example "Last month". Now only the trades, that have been closed in the last 30 days, are listed. You can also export the displayed account excerpt as a report a report with a graphical representation of the account development and financial analysis into a file. To do this, call up the context menu again and choose "Save as report" or "Save as detailed report".

The default setting for the file type is. Also possible is a change to. This section describes the various order types that are available in MetaTrader and the tools you can use to manually manage your orders in the market. Trading with the Order Types in MetaTrader When you trade with MetaTrader, there will be times when you need to manually place an order to open a position in the market.

MetaTrader allows you to do this using several types of trading orders. Orders in MetaTrader will be filled at the nearest market price. Sometimes, this may be worse than the price you requested. This is called slippage. Slippage is possible on all orders. Market Order пїЅ Places a buy or sell order on an instrument at the current market price.

Pending Order пїЅ Enters your order when the market reaches a specific price. There is a difference between orders and positions. All trades are placed as orders. When the price of the order meets the market price, it becomes an actively traded position. You can modify and cancel orders, but you can only close positions. When you place a buy limit, the price should be below the current market price.

When you place a sell limit, the price should be above the current market price. When you place a buy stop, the price should be above the current market price.

When you place a sell stop, the price should be below the current market price. Take Profit пїЅ Places an order to exit an active position to capture profits you may have. Stop Loss пїЅ Places an order to exit an active position to minimize any losses you may have.

Trailing Stop Orders пїЅ Places a stop order at a specific number of points away from the current market price. Once the market moves in your favour by that number, that stop loss order will then automatically update as lo g as the arket o es our a so that it trails the urre t price by the number of points you set.

When the market moves against your position after the trailing stop loss has been set, the stop loss remains set at the last trailing price that it reached when the market was moving in your favour. You can use this to help protect profits without limiting any potential gains on your open positions.

In MetaTrader 4, trailing stops will run as long as you are logged into the platform. If you set a trailing stop and then log out of MetaTrader before the market moves in your favour by the number of points that you entered, then the trailing stop loss order will not be placed.

It will work as a hard stop at the last price that the stop loss was at when you logged off. Whe ou log a k i to MetaTrader , if the stop loss has t ee triggered, it ill resu e traili g the urre t market price by the number of points that you specified between the stop and the current price.

Viewing Pricing and Contract Information Before ou pla e a order, ou ll a t to o itor the pri e a d deter i e a good poi t to e ter the arket.

You ll also a t to pi k poi ts for your take profit or stop loss orders. You can monitor prices and view contract information in the Market Watch window. You can monitor the real-time bid and ask prices of the available instruments in the Market Watch window. In addition to the Market Watch window, you can also view the Popup Prices window.

Like the Market Watch window, this displays a list of symbols and prices. You can view this by right-clicking in the Market Window and selecting Popup Prices. Always on Top displays the Popup Prices window on top of other applications. Full Screen expands the window so it fits your entire computer monitor. When selected, a checkmark appears next to the menu option in the drop-down menu. You can deactivate the option by unchecking the menu option. Before you trade, you may want to see the spread, margin, contract size and other details about the instrument you are interested in trading.

You can view contract information by right-clicking in the Market Watch window and selecting Symbols. When the Symbols window appears, select the instrument you want and click Properties. This opens the Contract Specification window for the instrument you selected.

The blue line represents the current ask price and the red shows the current bid price. In MetaTrader, 1. The Market Execution section displays the current price and options for placing your trade. If the market is particularly volatile, it may take a few seconds for FXFlat to process your order. MetaTrader displays a pending message, a progress bar to show you how much further the trade has to process and a Cancel Order button, if you no longer want to place the order.

Once the order is processed, the Order Execution section appears in the Order window. This displays a confirmation message, informing you that your trade was successful.

From this message, you can print out the order information by clicking Print or close the window by clicking OK. Placing a Market Order: 1. Double-click an instrument in the Market Watch window.

Make sure the instrument you want is selected. Click the Symbol drop-down menu to select an instrument, if not. Click Volume drop-down menu to select the number of lots you want to trade.

Make sure Market Execution is selected in the Type drop-down menu. If desired, enter text in the Comment text box. Click either the Sell by Market or Buy by Market button. Click Print to print the order information, if desired. Click OK to close the window.

Placing Pending Orders Manually from the Order Window You can also place pending orders; these enter your order when the market reaches a specific price. The Order window displays some of the same fields as it does when you enter a market order. You can select what kind of pending order you want, the price and the expiration date of the trade. If you are using a pending order to enter the market, you can enter a specific price in the At Price text box. You can specify how long you want your pending order to be available by using the Expiry checkbox.

After you click the checkbox, you can select a specific expiration date and time. If desired, you can set the prices you want for these orders. If you place a stop loss or take profit order, the chart in the Order window displays a line representing these pending orders. If you enter an inappropriate price for either the Stop Loss or Take Profit text boxes and click Place to enter your order, MetaTrader displays a notification message.

If you are entering both types of pending orders, MetaTrader lets you know if the stop loss SL or take profit TP is wrong. Click OK and then adjust the price. Placing a Pending Order: 1. Click Type and select Pending Order. In the Pending Order section, select one of the pending order types from the Type drop-down menu.

Enter the price. Click the Expiry checkbox and select a date. If desired, enter a price in the Stop Loss or Take Profit text boxes. Click Place. Managing Your Orders Once you place a trade, ou ll a t to ie our ope positio s a d pe di g orders as ell as our losed trades.

You can do so on two tabs in the Terminal window. You can manage all of your open positions and pending orders in the Trade tab of the Terminal window.

You can also view your balance, equity and margin data in this tab. When you right-click in a position row, you can select menu options to open an order, modify or delete an order or close an order. You can also right-click in the tab and select menu options to add the Commissions, Taxes and Comments columns to the table. You can also choose to display the value in the Profit column in points, term currency or deposit currency.

Here, you can also view your profit and loss, credits, deposits and withdrawal information. When you right-click in a position row, you can select menu options to filter and sort the orders that appear in the tab by the last three months, last month, or a custom period. If you sort the orders, you can also click All History to view all orders again. When you select Custom Period, you can use the From and To drop-down menus to select specific dates. On both tabs, you can also change the appearance of the table by selecting Auto Arrange, which resizes the columns automatically if the Terminal window size changes, or Grid, which displays the lines between the rows and columns.

One way to modify your order or position is to add a trailing stop. In MetaTrader 4, trailing stops will only run when you are logged into the platform. To place a trailing stop quickly, right-click in a position row and select Trailing Stop. The Trailing Stop drop-do e u also o tai s the Custo пїЅ e u optio. Whe ou sele t this, ou a enter a specific number of points in the Custom window.

If you place a trailing stop and eventually want to remove it, you can right-click on your order or position, select Trailing Stop and click None. You can also remove all trailing stops from your open positions by selecting Delete All in the Trailing Stop drop-down menu.

Placing a Custom Trailing Stop: 1. Right-click in a position row in the Trade tab of the Terminal window and select Trailing Stop. In the drop-do e u that appears, sele t Custo пїЅ 3.

Enter number of points you want. Click OK. When you set a trailing stop, your stop needs to be more than 15 points away from the current price. The Ope i do appears ith a CloseпїЅ utto that displa s the i stru e t, olu e a d order u er.

Closing a Position at the Current Market Price: 1. Right-click in a position row in the Trade tab of the Terminal window and select Close Order to open the Order window. Whe the Order i do appears, li k CloseпїЅ Market. You can also double-click on the position row you want to open the Order window.

You can also reverse your position by clicking the Sell by Market or Buy by Market buttons. You can use Multiple Close By to close the offset positions. Once this is executed, there will be one remaining long position open.

Closing Offsetting Positions: 1. From the Order Type drop-down menu, select Close by Market. Whe the Order i do appears, li k Multiple Close пїЅ. If ou did t specify a stop- loss or take-profit order when you first placed your order, you can add those orders by right- clicking in a position row and selecting Modify or Delete Order to open the Order window. In the Order window, the Stop Loss and Take Profit text boxes will display zeroes if no orders were placed when the original order for the positions was placed.

When you open the Order window from the Trade tab, it displays the Modify Order menu option in the Type drop-dow e u a d appears alread set ith details a out the positio s origi al order. You a spe if information about your stop-loss or take-profit orders in the Modify Order section.

You can click the Level text box and enter in a new number. When you enter a number of points, you can view what the price would be in the Copy As buttons. If you enter an inappropriate price for either the Stop Loss or Take Profit text boxes, MetaTrader disables the Modif пїЅ utto i the i do.

You eed to orre t the pri es to e a le this. Right-click in a position row in the Trade tab of the Terminal window and select Modify or Delete Order to open the Order window.

Make sure Modify Order is selected in the Type drop-down menu. In the Modify Order section, enter the number of points in the Level text boxes. If you want to add both a stop loss and take profit order to the position, repeat steps 3 and 4 for the other order.

Cli k Modif пїЅ 7. When you modify a pending order, the Symbol, Volume and other text boxes are greyed out. You cannot edit these. Modifying Pending Orders: 1. Right-click in a position row and select Modify or Delete Orders to open the Order window. From the Type drop-down menu, select Modify Order. Change the price in the Stop Loss or Take Profit textboxes, if desired.

Cli k Modif пїЅ 5. Deleting Pending Orders If arket o ditio s ha ge a d ou do t a t our pending orders to become positions, you can manually delete your order by clicking Modify or Delete Orders. Click Delete. Viewing and Setting Alerts As you trade, you can set alerts to notify you when an instrument has reached a specific price on the Alerts tab in the Terminal window.

You can create or modify the alert settings in the Alert Editor. This is where you can set conditions and specify the sound to play for your alert.

MetaTrader will play a sound file if the application is open when the alert goes off. If you plan on closing the application, you can use the Action drop-down menu to select an alternate way to be notified: select Mail to receive an email, or File to receive a file. If you choose Sound from the Action drop-down menu, you can select the sound file you want to play from a drop-down menu.

If you have other sound files that you would like to use on your computer, you can click. This opens the Open window and you can navigate to the folder where your sound files are stored. When you find one, click on it and select Open. To see what the alert would sound like, you can click Test in the Alarm Editor window.

You can use the Timeout drop-down menu to set a period of time between when the alert goes off and when it can go again. You can use the Maximum Iterations drop-down menu to choose to have the alert sound between one and times. MetaTrader will send an alert to your email when your address is setup in the Email tab of the Options window.

Creating an Alarm: 1. Right-click on the Alerts tab in the Terminal window and select Create. Click the Action drop-down menu and select Sound, File or Mail. Click the Source drop-down menu and select an alert. If you selected Sound, you can also click, select the file you want and click Open, if desired.

If desired, click the Timeout drop-down menu and select a time. If desired, click the Maximum Iteration and select a number. When an alert is set, it appears in the Alerts tab. You can see how many times the alert has sounded in the Counter column. Once you e reated a alert, ou a right-click in the chart window and access other menu options. When enabled, the alert will display this icon in its row. When disabled, it will display this icon.

In this se tio , ou ll lear ore a out the hart i do a d the features ou a use i it. Opening Charts In Section 1, you learned that the chart window plots the real-time prices of an instrument on a graph and provides a snapshot of market movements over a particular period of time. You can open up to 99 charts at one time and switch between them by clicking on the instrument chart tab at the bottom of the chart window. When you open a chart, MetaTrader displays the available price history for that chart.

The amount of time shown depends on the time frame you selected and the settings in the Charts tab. These show you the available price history, but do not update to show the real- time prices of the instrument.

You can open an offline chart by clicking the File menu and selecting Open Offline. This opens the Open Offline Chart window, where you can view the available instruments and time frames as well as how many bars, candles or line ticks are available in the chart. To open one, select the chart you want and click Open.

Whe the hart ope s, ou ll see Offli e appear i the hart header. Viewing the Chart Window O e the hart i do is ope , ou ll oti e a fe features. The legend shows the instrument symbol and current price information.

The Ask Line shows the current ask price. When you open a chart window for the first time in MetaTrader, the chart displays the price movements of the selected instrument as a continuous line, measuring intervals by the minute. The amount of time shown in the chart depends on the time frame you selected. For example, if you selected the five- minute time frame on a line chart, you can view the closing price of an instrument for the five- minute period.

You can scroll back and forth in the chart history by clicking in the chart window and dragging your cursor to the left or right.

You can also change the scale of the price moves in the chart by clicking the Price section and dragging up and down or clicking the Time Frame Interval section and dragging left or right. You can change colours, fonts and other settings in the chart.

Displaying the Chart Toolbar Whe ou first ope MetaTrader, ou ll oti e the Chart tool ar appears at the top of the window. You can use these tools to change and manage the way the chart displays pricing information.

If ou do t see the Chart tool ar, ou a displa it sele ti g Vie , li ki g Tool ars a d sele ti g Charts. MetaTrader groups the tools on the toolbar by type. The first three buttons on the toolbar specify the chart type. If you click one, it remains active until you click another chart type button. Each bar displays the high, low, open and close of the instrument and represents the trading activity for the time frame selected in the chart.

Each candle displays the high, low, open and close of the instrument and represents the trading activity for the chart time frame. With candlesticks, you can analyse the market, spot trends and forecast their direction.

The line connects the close prices for the time frame selected in the chart. When active, you can click the triangular marker at the top of the chart window and set it anywhere between the right side of the chart and the middle of the chart.

You can select between the most commonly used indicators or click the folder where the indicators are organized by type. When you select one, MetaTrader opens a window so you can specify settings for the indicator and then view it in or below the chart.

For more information on indicators, see Managing Indicators in the Chart Window in this section. You can also use this to change the time frame of the chart from one minute M1 to one hour H1 to daily. With a chart template, you can save the chart type, time frame, indicators, expert advisors and other settings and apply it to any chart.

For more information on templates, see Managing Templates in the Chart Window in this section. You can set the chart to zoom in to a precise point by checking the Scale Fix option in the Charts Setup window.

If you are scrolling through the chart and analysing chart history, make sure that AutoScroll and Chart Shift are deactivated. You can change both of these at any time.

When you first open MetaTrader, the chart types would look like this: Bar Candlestick Line There are several ways to change the time frame in the chart. You can display this field by double-clicking in the lower left corner of the chart. Once open, you can enter a specific time, date, symbol or all of these and press Enter on your keyboard. You can use the table below to see how to enter times and dates.

Displaying a Grid When you first open MetaTrader, the chart displays vertical and horizontal grid lines. You can right- click in the chart window and select Grid from the drop-down menu to activate or deactivate it. Displaying Trading Volume You can display the current trading volume for the selected instrument by right-clicking in the chart window and selecting Volumes from the drop-down menu. You can do so by right-clicking in the chart window and selecting Refresh.

Saving as a Picture You can save the active chart window or workspace as a. You can also choose the size the active chart to a specific pixel size. To preview it before you print, right-click in the chart window and select Print Pre ie.

Whe ou re read to pri t, right-click in the chart window and select Print You can also access the tools listed here from the Charts or File menu in the menu bar.

Displaying the Line Studies Toolbar If you are planning on drawing in the chart window, you may want to display the Line Studies toolbar. This contains a number of MetaTrader drawing tools. This is active when you first open the chart window. When this is selected, you can find out the distance between the points and the current price value by clicking on a point in the line and dragging to another point. These can be used to mark the beginning of a trend or specify a time when you entered the market.

When this is selected, click in the chart to place the line. These can be used to plot a horizontal support or resistance level. When this is selected, click where you want your line to begin and drag your cursor to place the line. You can add multiple trendlines to the chart. When this is selected, click where you want the channel to begin and drag your cursor to place it. You can then click on the secondary line and drag it in the chart. When it is selected, click where you want the channel to begin and drag your cursor to place it.

When selected, you can click in the chart window where the label should be. This opens the Text window with the Common tab displayed. Here, you can enter a name for the label, add the text you want and change the colour, size or font. You can also specify where the label should anchor on the Parameters tab or select if the text label should appear on all chart time frames on the Visualization tab.

As you scroll, the comment remains displayed over the chart. When selected, you can click in the chart window where the comment text should be. This opens the Label window with the Common tab displayed. Here, you can enter a name for the comment, add the text you want and change the colour, size or font. You can also specify the time and the angle of the comment on the Parameters tab or select if the text label should appear on all chart time frames on the Visualization tab.

If you add too many of these icons to the window, you select the Delete All Arrows menu option to remove all icons from the window. MetaTrader draws all trend lines on the charts as rays, lines which start at one point and continue in one direction toward infinity. You can change this using the Objects List. See Configuring Drawings in the Chart in this section for more information. MetaTrader offers a number of drawing tools so you can plot support and resistance levels, identify simple and complex patterns and create other notations on the chart.

You can select over 30 different tools by clicking on the Insert menu in the menu bar and selecting the tool you want from the drop-down menu or its related menu. When you click Lines, you can select from one of four different types of lines to draw on the chart. Vertical Line places a vertical line in the chart window.

When selected, click where you want your line to be to place it. Horizontal Line places a horizontal line in the chart window. Trendline allows you to draw a diagonal line through a series of high or low price points in the chart window. When selected, click where you want your line to begin and drag your cursor to place it. You can learn more about these three types of lines in the Displaying the Line Studies Toolbar in this section of the guide. Remember, you can change MetaTrader settings so all your trendlines have a beginning and end point using the Objects List.

Drawing Channels on the Chart When you click on the Insert menu and select Channels, you can select from one of four different types of channels to draw. Once placed, you can click and drag the channel along the price moves and the channel distance will adjust based on those prices. When Standard Deviation is selected, click where you want the channel to begin and drag your cursor to place it You can select the deviation in Standard Deviation lines by double-clicking on the line and then right- clicking to select StdDev Properties.

On the Parameters tab, you can enter a new value in the Deviations text box. Gann considered a degree line to be significant when analysing market moves. Under certain market conditions, traders could draw a degree line on a chart and forecast that moves above the line were bullish while those below that line were bearish.

If price movements crossed the line, it indicated that the trend was changing. When you click on the Insert menu and select Gann, you can select from one of three different types of Gann tools to add to the chart.

Many traders use these values to forecast points of support or resistance. When you click on the Insert menu and select Fibonacci, you can select from one of five different types of Fibonacci tools to add to the chart. When done, a second trend line will appear. You can double- click on the trend lines to adjust the expansion.

You can use Fibonacci Time Zones to forecast possible times when the market may experience a significant price change. When Time Zones is selected, you can create this drawing object by clicking and dragging.

You can use this to forecast support levels for a possible ascending or descending trend. When Fan is selected, click and drag to create a line between the high and the low. When this is selected, click where you want the three corners to be. When you click on the Insert menu and select Arrows, you can add eight different types of icons to the chart. This also contains an option for removing all icons from chart window. See Displaying the Line Studies Toolbar in this section for more information.

Using the Advanced Drawing Tools in the Charts The Insert menu also includes four other menu options for adding technical analysis drawing or label objects to the chart. If you suspect that a channel trend is forming around price movements in the chart, you can use this dra i g o je t to erif our assu ptio s. Whe A dre s Pit hfork is sele ted, ou a li k o a high or a low to specify the middle of the pitchfork and then click two significant peaks or troughs beside it to compose the prongs.

Usually, one interval corresponds with one cycle. When Cycle Lines is selected, click a point in the chart window and drag to adjust the interval. The Label window appears with the Common tab displayed.

The Text window appears with the Common tab displayed. This displa s the O je ts O пїЅ i do. The O je ts O пїЅ i do sho s a list of all o je ts that are urre tl displa ed i the hart i do. It also contains four command buttons. Objects that are checked are currently selected and can be edited. Show changes the view of the chart window, so the currently selected object is prominently displayed. Close loses the O je ts O пїЅ i do.

Edit opens an edit window for the currently selected object. This window contains three tabs. Drawing objects like Rectangle and Ellipse appear filled. If you want to see just the outline of the shape, uncheck Draw Object as Background. The Parameters tab is where you can enter specific data on where the object appears in the chart. The selections available here depend on what the selected object is. The Time and Value fields enable you to specify where an object is placed on the chart.

You can use the Angle in Degrees field to set the angle of the text or the drawing object. The Arrow Code field adds an object code when you add an arrow icon to the chart window.

When selected, the Ray checkbox draws all lines on the charts as lines that start at one point and continue in one direction toward infinity. This is selected when you first open MetaTrader.

When you first draw the object, Show on All Time frames is automatically selected. Editing Drawings in the Chart: 1. Right-click in the chart window with your drawing objects and select Objects List. In the Common tab, make sure the name is correct and enter a description, if desired. Use the drop-down menus to specify the colour of the drawing object and the line style.

Click on the Parameters tab and make changes as necessary. If you want to specify a time frame, click on the Visualization tab, uncheck Show On All The Time frames and check the time frames you want.

When done, click OK. Select another o je t i the O je ts O пїЅ i do to edit, if desired. When done, click Close. If ou do t a t to o figure all of the dra i gs at o e, ou a also dou le-click on a single drawing object in the chart window to select it.

Right-click on it and select the пїЅProperties e u optio. This ill open the edit window for the currently selected object. Grouping Charts with Profiles MetaTrader allows you to open multiple charts and save them in a profile. Many traders use this to compare their most commonly traded instruments. You can use the Profiles menu option in the File menu to save multiple groups of charts. When selected, a check appears beside it to show you that it is active. Saving a Profile: 1. Click the File menu and select Profiles.

When the drop-do e u appears, sele t Sa e AsпїЅ 3. In the Save Profile window, you can type in a new name or select an existing name from the drop- down menu to save over that profile.

These are automatically saved in the current profile. The profiles in the drop-down menu or the Profiles folder on your computer may vary from the graphic that you see here.

You can also use these commands by clicking in the Standard toolbar. This displays a drop-down menu similar to the one that you see when you click the File menu and select Profiles.

Placing Trades from the Chart You can place trades from the chart by right-clicking in the window, selecting Trading and then clicking a menu option from the drop-down menu that appears. The Order window opens with a Market Execution order type selected. You can change the Type drop-down menu and select Pending Order if you want to place a buy limit or a sell stop. Buy Limit at Places a buy limit or a sell stop at the listed price. The Order window opens with the Pending Order type selected.

Placing a Market Order from the Chart Window: 1. Right-click in the chart window of the instrument you want, select Trading. From the drop-down menu, click New Order. From the drop-down menu, click Buy-Li it at If desired, click the Expiry checkbox and select a date. Managing Technical Indicators in the Chart Many traders use technical indicators to forecast where the market may be going.

In MetaTrader, you can select up to 30 different technical indicators to appear in the chart. There are several ways to add an indicator to a chart. Then click and drag the indicator to the chart window. This displays a drop-down menu where the indicators are organized in folders by type Trend, Volumes, Oscillator, etc. You can select the folder and click on the indicator in it.

This displays a drop-down menu with a list of the most recently used indicators and then the indicator folders. You can select the indicator you want or click on the folder and select the indicator. When you add an indicator to the chart, a settings window for that indicator appears. You can specify settings for the indicator over several tabs.

The ones that you see depend on the indicator you selected. The selections available here depend on what the indicator is. On the Colors tab, you can modify the line colours of the indicator by double-clicking on the colour and selecting a new one from the drop-down menu. Like the Parameters tab, the selections that you see depend on what the indicator is.

You can also specify line width on a scale of one to five by double-clicking on the Width row and selecting a new one from the drop-down menu that appears. If you select a line width of one, you can also specify whether the line appears as solid or dotted by double-clicking on the Style row and selecting a new one from the drop-down menu that appears. The Levels tab is where you can add level lines to the indicator.

You can create a new level by clicking Add. You can then select the line and use the drop-down menus to change the colour, thickness and style of the level line. To remove lines, select the line and click Delete. On the Visualization tab, you can select in which time frames the indicator can be used.

When you uncheck it, you can select one or more time frames. If you need to return to the original settings, click Reset. Indicators will appear either in the chart or in an indicator window below the chart. The name of the indicator in the separate indicator window appears in the upper left corner of that window.

You can add as many indicators to the charts as you would like, but FXFlat advises traders to use no more than five at a time. Right-click on the indicator you want in the Navigator window and select Attach to a Chart. Select the options you want on the tabs that appear. I di ators should ot e o fused ith usto i di ators.

When an indicator is attached to the chart, you can right-click in the chart window and select Indicators List. This ope s the I di ators o пїЅ i do. You a use this to ie the i di ators alread atta hed to the hart. When you select an indicator, you can click Edit to open the settings window for that indicator or click Delete to remove it from the chart. If you use a particular indicator regularly, you can save it to your Favorites tab by right-clicking on it and selecting Add to Favorites. You can also set a hot key shortcut so you can activate an indicator by pressing a key or two on your keyboard.

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From the Order Type drop-down menu, select Close by Market. Whe the Order i do appears, li k Multiple Close пїЅ. If ou did t specify a stop- loss or take-profit order when you first placed your order, you can add those orders by right- clicking in a position row and selecting Modify or Delete Order to open the Order window. In the Order window, the Stop Loss and Take Profit text boxes will display zeroes if no orders were placed when the original order for the positions was placed.

When you open the Order window from the Trade tab, it displays the Modify Order menu option in the Type drop-dow e u a d appears alread set ith details a out the positio s origi al order. You a spe if information about your stop-loss or take-profit orders in the Modify Order section. You can click the Level text box and enter in a new number. When you enter a number of points, you can view what the price would be in the Copy As buttons.

If you enter an inappropriate price for either the Stop Loss or Take Profit text boxes, MetaTrader disables the Modif пїЅ utto i the i do. You eed to orre t the pri es to e a le this. Right-click in a position row in the Trade tab of the Terminal window and select Modify or Delete Order to open the Order window.

Make sure Modify Order is selected in the Type drop-down menu. In the Modify Order section, enter the number of points in the Level text boxes. If you want to add both a stop loss and take profit order to the position, repeat steps 3 and 4 for the other order. Cli k Modif пїЅ 7. When you modify a pending order, the Symbol, Volume and other text boxes are greyed out.

You cannot edit these. Modifying Pending Orders: 1. Right-click in a position row and select Modify or Delete Orders to open the Order window. From the Type drop-down menu, select Modify Order. Change the price in the Stop Loss or Take Profit textboxes, if desired. Cli k Modif пїЅ 5. Deleting Pending Orders If arket o ditio s ha ge a d ou do t a t our pending orders to become positions, you can manually delete your order by clicking Modify or Delete Orders.

Click Delete. Viewing and Setting Alerts As you trade, you can set alerts to notify you when an instrument has reached a specific price on the Alerts tab in the Terminal window.

You can create or modify the alert settings in the Alert Editor. This is where you can set conditions and specify the sound to play for your alert. MetaTrader will play a sound file if the application is open when the alert goes off.

If you plan on closing the application, you can use the Action drop-down menu to select an alternate way to be notified: select Mail to receive an email, or File to receive a file. If you choose Sound from the Action drop-down menu, you can select the sound file you want to play from a drop-down menu. If you have other sound files that you would like to use on your computer, you can click. This opens the Open window and you can navigate to the folder where your sound files are stored. When you find one, click on it and select Open.

To see what the alert would sound like, you can click Test in the Alarm Editor window. You can use the Timeout drop-down menu to set a period of time between when the alert goes off and when it can go again. You can use the Maximum Iterations drop-down menu to choose to have the alert sound between one and times.

MetaTrader will send an alert to your email when your address is setup in the Email tab of the Options window. Creating an Alarm: 1. Right-click on the Alerts tab in the Terminal window and select Create. Click the Action drop-down menu and select Sound, File or Mail.

Click the Source drop-down menu and select an alert. If you selected Sound, you can also click, select the file you want and click Open, if desired. If desired, click the Timeout drop-down menu and select a time. If desired, click the Maximum Iteration and select a number.

When an alert is set, it appears in the Alerts tab. You can see how many times the alert has sounded in the Counter column. Once you e reated a alert, ou a right-click in the chart window and access other menu options. When enabled, the alert will display this icon in its row.

When disabled, it will display this icon. In this se tio , ou ll lear ore a out the hart i do a d the features ou a use i it. Opening Charts In Section 1, you learned that the chart window plots the real-time prices of an instrument on a graph and provides a snapshot of market movements over a particular period of time.

You can open up to 99 charts at one time and switch between them by clicking on the instrument chart tab at the bottom of the chart window. When you open a chart, MetaTrader displays the available price history for that chart. The amount of time shown depends on the time frame you selected and the settings in the Charts tab.

These show you the available price history, but do not update to show the real- time prices of the instrument. You can open an offline chart by clicking the File menu and selecting Open Offline. This opens the Open Offline Chart window, where you can view the available instruments and time frames as well as how many bars, candles or line ticks are available in the chart.

To open one, select the chart you want and click Open. Whe the hart ope s, ou ll see Offli e appear i the hart header. Viewing the Chart Window O e the hart i do is ope , ou ll oti e a fe features. The legend shows the instrument symbol and current price information. The Ask Line shows the current ask price. When you open a chart window for the first time in MetaTrader, the chart displays the price movements of the selected instrument as a continuous line, measuring intervals by the minute.

The amount of time shown in the chart depends on the time frame you selected. For example, if you selected the five- minute time frame on a line chart, you can view the closing price of an instrument for the five- minute period. You can scroll back and forth in the chart history by clicking in the chart window and dragging your cursor to the left or right. You can also change the scale of the price moves in the chart by clicking the Price section and dragging up and down or clicking the Time Frame Interval section and dragging left or right.

You can change colours, fonts and other settings in the chart. Displaying the Chart Toolbar Whe ou first ope MetaTrader, ou ll oti e the Chart tool ar appears at the top of the window. You can use these tools to change and manage the way the chart displays pricing information. If ou do t see the Chart tool ar, ou a displa it sele ti g Vie , li ki g Tool ars a d sele ti g Charts. MetaTrader groups the tools on the toolbar by type.

The first three buttons on the toolbar specify the chart type. If you click one, it remains active until you click another chart type button. Each bar displays the high, low, open and close of the instrument and represents the trading activity for the time frame selected in the chart. Each candle displays the high, low, open and close of the instrument and represents the trading activity for the chart time frame. With candlesticks, you can analyse the market, spot trends and forecast their direction.

The line connects the close prices for the time frame selected in the chart. When active, you can click the triangular marker at the top of the chart window and set it anywhere between the right side of the chart and the middle of the chart.

You can select between the most commonly used indicators or click the folder where the indicators are organized by type. When you select one, MetaTrader opens a window so you can specify settings for the indicator and then view it in or below the chart. For more information on indicators, see Managing Indicators in the Chart Window in this section.

You can also use this to change the time frame of the chart from one minute M1 to one hour H1 to daily. With a chart template, you can save the chart type, time frame, indicators, expert advisors and other settings and apply it to any chart. For more information on templates, see Managing Templates in the Chart Window in this section. You can set the chart to zoom in to a precise point by checking the Scale Fix option in the Charts Setup window.

If you are scrolling through the chart and analysing chart history, make sure that AutoScroll and Chart Shift are deactivated. You can change both of these at any time. When you first open MetaTrader, the chart types would look like this: Bar Candlestick Line There are several ways to change the time frame in the chart.

You can display this field by double-clicking in the lower left corner of the chart. Once open, you can enter a specific time, date, symbol or all of these and press Enter on your keyboard. You can use the table below to see how to enter times and dates.

Displaying a Grid When you first open MetaTrader, the chart displays vertical and horizontal grid lines. You can right- click in the chart window and select Grid from the drop-down menu to activate or deactivate it. Displaying Trading Volume You can display the current trading volume for the selected instrument by right-clicking in the chart window and selecting Volumes from the drop-down menu. You can do so by right-clicking in the chart window and selecting Refresh.

Saving as a Picture You can save the active chart window or workspace as a. You can also choose the size the active chart to a specific pixel size.

To preview it before you print, right-click in the chart window and select Print Pre ie. Whe ou re read to pri t, right-click in the chart window and select Print You can also access the tools listed here from the Charts or File menu in the menu bar. Displaying the Line Studies Toolbar If you are planning on drawing in the chart window, you may want to display the Line Studies toolbar. This contains a number of MetaTrader drawing tools.

This is active when you first open the chart window. When this is selected, you can find out the distance between the points and the current price value by clicking on a point in the line and dragging to another point. These can be used to mark the beginning of a trend or specify a time when you entered the market. When this is selected, click in the chart to place the line.

These can be used to plot a horizontal support or resistance level. When this is selected, click where you want your line to begin and drag your cursor to place the line. You can add multiple trendlines to the chart. When this is selected, click where you want the channel to begin and drag your cursor to place it. You can then click on the secondary line and drag it in the chart. When it is selected, click where you want the channel to begin and drag your cursor to place it.

When selected, you can click in the chart window where the label should be. This opens the Text window with the Common tab displayed. Here, you can enter a name for the label, add the text you want and change the colour, size or font. You can also specify where the label should anchor on the Parameters tab or select if the text label should appear on all chart time frames on the Visualization tab.

As you scroll, the comment remains displayed over the chart. When selected, you can click in the chart window where the comment text should be. This opens the Label window with the Common tab displayed. Here, you can enter a name for the comment, add the text you want and change the colour, size or font.

You can also specify the time and the angle of the comment on the Parameters tab or select if the text label should appear on all chart time frames on the Visualization tab. If you add too many of these icons to the window, you select the Delete All Arrows menu option to remove all icons from the window.

MetaTrader draws all trend lines on the charts as rays, lines which start at one point and continue in one direction toward infinity. You can change this using the Objects List. See Configuring Drawings in the Chart in this section for more information. MetaTrader offers a number of drawing tools so you can plot support and resistance levels, identify simple and complex patterns and create other notations on the chart.

You can select over 30 different tools by clicking on the Insert menu in the menu bar and selecting the tool you want from the drop-down menu or its related menu. When you click Lines, you can select from one of four different types of lines to draw on the chart.

Vertical Line places a vertical line in the chart window. When selected, click where you want your line to be to place it. Horizontal Line places a horizontal line in the chart window. Trendline allows you to draw a diagonal line through a series of high or low price points in the chart window. When selected, click where you want your line to begin and drag your cursor to place it.

You can learn more about these three types of lines in the Displaying the Line Studies Toolbar in this section of the guide. Remember, you can change MetaTrader settings so all your trendlines have a beginning and end point using the Objects List. Drawing Channels on the Chart When you click on the Insert menu and select Channels, you can select from one of four different types of channels to draw.

Once placed, you can click and drag the channel along the price moves and the channel distance will adjust based on those prices. When Standard Deviation is selected, click where you want the channel to begin and drag your cursor to place it You can select the deviation in Standard Deviation lines by double-clicking on the line and then right- clicking to select StdDev Properties.

On the Parameters tab, you can enter a new value in the Deviations text box. Gann considered a degree line to be significant when analysing market moves. Under certain market conditions, traders could draw a degree line on a chart and forecast that moves above the line were bullish while those below that line were bearish. If price movements crossed the line, it indicated that the trend was changing.

When you click on the Insert menu and select Gann, you can select from one of three different types of Gann tools to add to the chart. Many traders use these values to forecast points of support or resistance. When you click on the Insert menu and select Fibonacci, you can select from one of five different types of Fibonacci tools to add to the chart.

When done, a second trend line will appear. You can double- click on the trend lines to adjust the expansion. You can use Fibonacci Time Zones to forecast possible times when the market may experience a significant price change. When Time Zones is selected, you can create this drawing object by clicking and dragging. You can use this to forecast support levels for a possible ascending or descending trend. When Fan is selected, click and drag to create a line between the high and the low.

When this is selected, click where you want the three corners to be. When you click on the Insert menu and select Arrows, you can add eight different types of icons to the chart. This also contains an option for removing all icons from chart window. See Displaying the Line Studies Toolbar in this section for more information. Using the Advanced Drawing Tools in the Charts The Insert menu also includes four other menu options for adding technical analysis drawing or label objects to the chart.

If you suspect that a channel trend is forming around price movements in the chart, you can use this dra i g o je t to erif our assu ptio s. Whe A dre s Pit hfork is sele ted, ou a li k o a high or a low to specify the middle of the pitchfork and then click two significant peaks or troughs beside it to compose the prongs.

Usually, one interval corresponds with one cycle. When Cycle Lines is selected, click a point in the chart window and drag to adjust the interval. The Label window appears with the Common tab displayed. The Text window appears with the Common tab displayed. This displa s the O je ts O пїЅ i do. The O je ts O пїЅ i do sho s a list of all o je ts that are urre tl displa ed i the hart i do. It also contains four command buttons. Objects that are checked are currently selected and can be edited.

Show changes the view of the chart window, so the currently selected object is prominently displayed. Close loses the O je ts O пїЅ i do. Edit opens an edit window for the currently selected object. This window contains three tabs. Drawing objects like Rectangle and Ellipse appear filled. If you want to see just the outline of the shape, uncheck Draw Object as Background.

The Parameters tab is where you can enter specific data on where the object appears in the chart. The selections available here depend on what the selected object is. The Time and Value fields enable you to specify where an object is placed on the chart.

You can use the Angle in Degrees field to set the angle of the text or the drawing object. The Arrow Code field adds an object code when you add an arrow icon to the chart window. When selected, the Ray checkbox draws all lines on the charts as lines that start at one point and continue in one direction toward infinity.

This is selected when you first open MetaTrader. When you first draw the object, Show on All Time frames is automatically selected. Editing Drawings in the Chart: 1.

Right-click in the chart window with your drawing objects and select Objects List. In the Common tab, make sure the name is correct and enter a description, if desired. Use the drop-down menus to specify the colour of the drawing object and the line style. Click on the Parameters tab and make changes as necessary. If you want to specify a time frame, click on the Visualization tab, uncheck Show On All The Time frames and check the time frames you want. When done, click OK. Select another o je t i the O je ts O пїЅ i do to edit, if desired.

When done, click Close. If ou do t a t to o figure all of the dra i gs at o e, ou a also dou le-click on a single drawing object in the chart window to select it.

Right-click on it and select the пїЅProperties e u optio. This ill open the edit window for the currently selected object. Grouping Charts with Profiles MetaTrader allows you to open multiple charts and save them in a profile. Many traders use this to compare their most commonly traded instruments. You can use the Profiles menu option in the File menu to save multiple groups of charts. When selected, a check appears beside it to show you that it is active.

Saving a Profile: 1. Click the File menu and select Profiles. When the drop-do e u appears, sele t Sa e AsпїЅ 3. In the Save Profile window, you can type in a new name or select an existing name from the drop- down menu to save over that profile. These are automatically saved in the current profile. The profiles in the drop-down menu or the Profiles folder on your computer may vary from the graphic that you see here.

You can also use these commands by clicking in the Standard toolbar. This displays a drop-down menu similar to the one that you see when you click the File menu and select Profiles. Placing Trades from the Chart You can place trades from the chart by right-clicking in the window, selecting Trading and then clicking a menu option from the drop-down menu that appears. The Order window opens with a Market Execution order type selected.

You can change the Type drop-down menu and select Pending Order if you want to place a buy limit or a sell stop. Buy Limit at Places a buy limit or a sell stop at the listed price.

The Order window opens with the Pending Order type selected. Placing a Market Order from the Chart Window: 1.

Right-click in the chart window of the instrument you want, select Trading. From the drop-down menu, click New Order. From the drop-down menu, click Buy-Li it at If desired, click the Expiry checkbox and select a date. Managing Technical Indicators in the Chart Many traders use technical indicators to forecast where the market may be going. In MetaTrader, you can select up to 30 different technical indicators to appear in the chart. There are several ways to add an indicator to a chart.

Then click and drag the indicator to the chart window. This displays a drop-down menu where the indicators are organized in folders by type Trend, Volumes, Oscillator, etc.

You can select the folder and click on the indicator in it. This displays a drop-down menu with a list of the most recently used indicators and then the indicator folders.

You can select the indicator you want or click on the folder and select the indicator. When you add an indicator to the chart, a settings window for that indicator appears.

You can specify settings for the indicator over several tabs. The ones that you see depend on the indicator you selected. The selections available here depend on what the indicator is. On the Colors tab, you can modify the line colours of the indicator by double-clicking on the colour and selecting a new one from the drop-down menu. Like the Parameters tab, the selections that you see depend on what the indicator is.

You can also specify line width on a scale of one to five by double-clicking on the Width row and selecting a new one from the drop-down menu that appears. If you select a line width of one, you can also specify whether the line appears as solid or dotted by double-clicking on the Style row and selecting a new one from the drop-down menu that appears. The Levels tab is where you can add level lines to the indicator.

You can create a new level by clicking Add. You can then select the line and use the drop-down menus to change the colour, thickness and style of the level line. To remove lines, select the line and click Delete.

On the Visualization tab, you can select in which time frames the indicator can be used. When you uncheck it, you can select one or more time frames. If you need to return to the original settings, click Reset. Indicators will appear either in the chart or in an indicator window below the chart. The name of the indicator in the separate indicator window appears in the upper left corner of that window.

You can add as many indicators to the charts as you would like, but FXFlat advises traders to use no more than five at a time. Right-click on the indicator you want in the Navigator window and select Attach to a Chart.

Select the options you want on the tabs that appear. I di ators should ot e o fused ith usto i di ators. When an indicator is attached to the chart, you can right-click in the chart window and select Indicators List. This ope s the I di ators o пїЅ i do. You a use this to ie the i di ators alread atta hed to the hart. When you select an indicator, you can click Edit to open the settings window for that indicator or click Delete to remove it from the chart.

If you use a particular indicator regularly, you can save it to your Favorites tab by right-clicking on it and selecting Add to Favorites.

You can also set a hot key shortcut so you can activate an indicator by pressing a key or two on your keyboard. When an expert advisor is attached to the chart, you can right-click in the chart window to modify, test and delete it.

To sho ou that it s atta hed, the name appears in the upper right corner of the chart window. You can verify if the expert advisor is active or not by looking for one of three types of icons in the upper right corner of the chart. A means that the expert advisor was attached and is actively trading. A shows that the expert advisor was attached, but that live trading is disabled for it. A means that all expert advisors have been disabled. Managing Templates in the Chart Window With a chart template, you can save the chart type, time frame, indicators, expert advisors and other settings and apply it to any chart.

From the drop-down menu, select one of the listed templates. The chart window updates immediately. If ou e used MetaTrader efore a d ha e te plate. You can then import template files in MetaTrader using the Load Te plateпїЅ e u optio.

You may notice the default. This is a basic template that is created during the MetaTrader installation and applied automatically whenever the chart window is opened. While you can edit this file, you cannot save over it. You a sa e the o te ts of the hart i do as a te plate or sa e ha ges ou e ade to a e isti g template by using the Sa e Te plateпїЅ e u optio. O e sa ed, the te plate appears a e i the list of templates. Loading a Template in the Chart: 1. In the chart, right-click and select Template.

From the drop-down menu, click Load Template. In the Open window, select the. From the drop-down menu, click Save Template. If you are saving a new template, enter the file name you want.

If you want your changes to overwrite an existing template, click that template file. When done, click Save. The templates in the drop-down menu or the Templates folder on your computer may vary from the graphic that you see here. You can also use these commands by clicking in the Charts toolbar.

This displays the same drop- down menu that you see when you right-click in the chart window. Closing Charts and Recovering Them As you trade, you may find it necessary to close chart windows. If you need to look at a chart that was closed, you can reopen them using the Open Deleted menu option in the File menu.

You can reopen closed chart windows as long as the settings in the Charts tab in the Options window are set to do so. To reopen a closed chart, click the File menu and select Open Deleted. In the drop-down menu that appears, select the instrument and time frame that you want. Before ou start do loadi g or odi g autotradi g files, ou ll a t to ope MetaEditor a d e o e fa iliar ith its orkspa e.

I this se tio , ou ll re ei e a o er ie of the tools a d features ou ll use to create MetaTrader autotrading tools. You can open it while working in MetaTrader using one of the following methods. MetaEditor uses the same login as MetaTrader. You a use the fi e e us that appear here to a ess that MetaEditor optio s that ou ll use to reate a d edit autotradi g tools. File пїЅ Displays menu options for creating and opening autotrading tool files. You can also access recently opened files.

Edit пїЅ Contains the menu option for finding and replacing a text string in an autotrading tool file. You can also manage your language preferences from this menu. Tools пїЅ Contains tools for accessing MetaTrader and arranging the windows in the MetaEditor workspace.

If this is t displa ed, li k the Vie menu and select Toolbar. You can use this to immediately create an expert advisor, custom indicator, script, library or other autotrading tool. If ou e pre iousl reated a file, ou a li k this to a igate to the file location and select it. All MetaEditor files are saved as.

The Errors tab opens automatically in the Toolbox window to show you if there are any errors or warnings. When the compilation is successful, MetaEditor saves the file. When active, the cursor appears with a question mark. You can customize all of the toolbars so that they contain only the tools that you use by clicking View and sele ti g Custo izeпїЅ This ope s the Custo izi g Tool ar i do. The Available section shows any menu options that are currently not in the toolbar and can be added.

The Selected section displays all of the options that are currently displayed in the toolbar. The tools that appear in the Available and Selected section depend on which toolbar you right-clicked on. To place a tool on the toolbar, you can select it in the Available section and click Insert. Conversely, you can remove a tool from the toolbar by clicking it in the Selected section and then selecting Remove. You can also reposition the order of the tools in the menu bar by selecting a tool and clicking Up or Down.

If you need to return to your original settings, click Reset. When you are done reordering the toolbars, click Close. The Toolbox Window You ll use the Tool o i do to fi d a d do load user-community created autotrading files.

You can also use this window to test recently downloaded or newly created files or search for specific code strings in the files. The Toolbox organizes these tools over four tabs. You can also click in the toolbar. The Errors tab then displays a list of any errors or warnings it found. To go to the line with the error, you can right-click in the Errors tab and select Go To Line from the drop-down menu that appears.

You can use the Find in Files tab to search for a specific word or line of code in one or more autotrading files in a folder. Type the word you want and use the drop-down menu to select the location you want. When done, click Find. You can view the list of files and the line in the Find in Files tab. To go to the line, you can right-click in the Find in Files tab and select Go To Line from the drop-down menu that appears. You can also double-click one of the results. The corresponding file is displayed with the cursor on the found text and the line is marked with a green arrow in the margin field.

If you search for a line of code and then click the Find in Files menu option to start a new search, MetaEditor clears the Find in Files tab. The Online Library tab displays a list of trader created autotrading files. You can use the toolbar along the top of this window to switch your search between expert advisors, custom indicators, scripts and other files. You can use the scroll bar to move through the list.

You can also click to see if any new files have been added. When you find the item you want, select it and click. You can also right-click in the item row and select Download from the drop-down menu. This opens the source code file in the workspace. You can use the toolbar along the top of this window to navigate through the files to find the code you want.

You can also use the Dictionary tab in the Navigator window to select specific topics to appear on the Help tab. If you right-click an item in any of these tabs, you can view a drop-down menu.

The options that appear in the menu depend on the tab you selected. Go to Line opens the corresponding file with the cursor on the found text and a green arrow in the margin field of the line. Copy пїЅ This appears in the Errors tab. It adds the selected error to the clipboard. Clear пїЅ This appears in the Errors tab and the Find in Files tab. Clear removes all of the displayed items from the tab. It displays the selected item in the application. Download пїЅ This appears in the Online Library tab.

Download opens the source code file in the workspace. Refresh - This appears in the Online Library tab. It updates the list to see if any new files have been added. When checked, Auto Arrange resizes the columns automatically if the tab window size changes. When checked, Grid displays lines between the rows and columns. The Help tab menu contains the menu options that are in the toolbar on the tab.

The Navigator Window You ll use the Na igator i do to ie ode files. You a use these to resear h ho a autotradi g tool works or to copy and paste existing code into a new autotrading tool.

The Navigator window organizes these over three tabs. The Dictionary tab shows code examples of the MQL4 language organized in books and files. When you enter words in the field and click , MetaEditor lists the search results in the tab. To view a result, double-click on the search result you want.

Like the Dictionary tab, the topic you want opens in the Help tab of the Toolbox window. The Code Window The Code window is where you can view the text file that contains the source code of your expert advisor, custom indicator, script or other MetaTrader autotrading tools.

You can download existing autotrading tools using the Toolbox or create them using the Expert Advisors wizard. The source code is displayed in a basic text file. Once opened, you can copy and paste lines of code into the file or enter the code manually if you are familiar with MQL4. You can open more than one autotrading tool file at a time and switch between them by clicking the instrument tab at the top of the window.

The Options Window You can use the Options window to specify font and style settings in the source code of the autotrading tool. The Options window organizes these over four tabs. On the Colors tab, you can enter settings to specify text and highlight colour in the autotrading tool file.

In the Elements section, select the code element you want and use the Foreground and Background drop-down menus to select colours from a chart. If you want to change the colours back to the way they were when you first installed MetaEditor, you can click Reset All. On the Font tab, you can specify font type, size and script settings for the text that appears in the code of the autotrading tool file. You can view how the text will look in the Text Preview box. These automated trading strategies perform real-time technical analysis of price data and manage trading activities based on current market conditions.

These modified technical indicators analyse the price moves of an instrument. These perform an automated analytic or trading function on request. Unlike expert advisors, which continually work and execute orders based on market moves, a script only performs a function once. I this se tio , e ll dis uss ho to use each of these three automated trading tools. Enabling Autotrading Tools Before you use an expert advisor, custom indicator or script, you need to enable them in MetaTrader. You can do this on the Expert Advisors tab of the Options window.

When the checkbox is not checked, the expert advisors will not analyse chart pri e o e e ts. The Disa leпїЅ he k o es e eath it allow MetaTrader to automatically deactivate all of your expert advisors if you change your account or your profile. The Allow Live Trading checkbox enables you to place orders when an expert advisor or script is active. When this is checked, you can also choose to select the Ask Manual Confirmation checkbox below it.

If your expert advisor or script is about to perform a trade and this checkbox is selected, a notification appears, asking you to confirm the trade. The Allow DLL Imports checkbox allows your expert advisors, custom indicators or scripts to automatically access the dynamic-link library. If your expert advisor, custom indicator or script is about to access a set of. The Allow External Experts Imports checkbox enables your expert advisors, custom indicators or scripts to automatically import functions from other MQL4 files.

This is a security option that protects you when you are working with expert advisors, custom indicators or scripts from an unknown source. If you are only using expert advisors, you can click in the Standard toolbar to activate them. When active, the button changes to look like this:.

This button does not activate custom indicators or scripts. Click the Tools menu and select Options. In the Options window, click on the Expert Advisors tab.

Make sure Enable Expert Advisors is selected. If you are using expert advisors or scripts, check Allow Live Trading. Change the rest of the options to suit your trading style.

You cannot use expert advisors, custom indicators, scripts and related files on practice accounts. This opens MetaEditor. You can use the toolbar along the top of this window to switch your search between expert advisors, custom indicators, scripts and libraries. Whe ou re searching for expert advisors, make sure Experts is selected.

You can also click to see if any new expert advisors have been added. When you find the expert advisor, custom indicator or script you want, select it and click. You can also right-click in the expert advisor row and select Download from the drop-down menu.

This opens the source code of the autotrading tool in the MetaEditor workspace. If you know MQL. You can also open other source code files and copy and paste sections of code into the downloaded file. A star appears in the header of the sour e ode file after ou e edited it.

You a li k Sa e to save your changes and continue working. This verifies if the code works as programmed. Once compiled, you can view the expert advisor, custom indicator or script you want in the Navigator window of MetaTrader. To return to MetaTrader, click. Finding Autotrading Tools in the Online Library: 1. In the Online Library tab of the Toolbox, make sure the type of autotrading tool you want is selected. Scroll through the list of available autotrading tools. When you find one, select it and click.

If desired, make any changes to the code. Because EAs are created by separate and independent third parties, FXFLat is not responsible for their completeness, reliability or accuracy. In other words, you use them at your own risk. If you have questions on how an EA works, you will need to contact the EA provider. If you edited an expert advisor and if, after you compiled it, the icon is gray in the Navigator window, there is a error a d ou a ot use the e pert ad isor. You ll eed to re ie a d edit our ode a d the compile the code again.

The Expert Advisor wizard helps you specify which type of expert advisor you want and name the file. Here, you can add parameters to the file in the wizard by clicking Add.

Once added, you can change what kind of parameter the expert advisor uses by right-clicking on it and selecting Change Type. This displays a drop-down menu of several strings. You can also change the initial value for the parameter by right-clicking on it and selecting Edit Value.

If you want to change the name of the parameter, right-click on it and select Rename. You can also remove a parameter by selecting it and clicking Delete. When you click Finish, the wizard closes and opens a text file with the code for the parameters in it.

You can continue to add code for the expert advisor. MQ4 is saved in the Experts folder. The expert advisor appears as a selection in the Navigator window of MetaEditor, under the Templates folder on your computer.

Creating an Expert Advisor: 1. E ter the e pert ad isor a e, the de eloper s a e a d the de eloper s e site. If desired, click Add to add a parameter to the expert advisor. If you need to customize it, right- click on the parameter and select Change Type, Edit Value or Rename, as desired.

Click Finish. Make the changes you want to the code file, as desired. You can switch back to MetaTrader without closing MetaEditor by clicking in the toolbar. Testing an Expert Advisor Once you create an expert advisor, you can test your own expert advisors before you attach them to a chart. You can also specify settings so MetaTrader can automatically optimize the expert advisor.

The Strategy Tester shows you how an expert advisor would work on a particular instrument under one or more market conditions. If you want to see or modify the settings of the expert advisor before you run it, you can click the Expert Properties button. This displays a window with information about the expert advisor on three tabs.

On the Testing tab, you can test how the expert advisor would work with your initial deposit and in the base currency you want. The Positions drop-down menu allows you to select if the expert advisor opens both long buy and short sell positions or only long or short positions.

You can run an expert advisor through multiple tests that mimic different market conditions. This is called optimization. On the Testing tab, you can choose one of five models for optimization using the Optimized Parameter drop-down menu.

You can use this to determine whether the trade was profitable or unprofitable. MetaTrader will run the expert advisor through every possible combination of the parameter.

If you want MetaTrader to test the expert advisor using random, selective combinations, you can check the Genetic Algorithm checkbox. The inputs that you see in this tab depend on the expert advisor you selected; you can use the checkboxes to select the lot size, trailing stop levels, or other information and double-click in the Value, Start, Step or Stop column to change the values. You can also click Load to add inputs to the expert advisor or Save to save the variables as a set.

On the Optimization tab, you can select limiting parameters for optimization. As MetaTrader runs the expert advisor through subsequent tests, it stops the test when one of the parameters is met. The parameters that you see in this tab depend on the expert advisor you selected; you can use the checkboxes to select parameters and double-click in the Value column to change its value.

You need to check the Optimization checkbox on the Settings tab of the Strategy Tester for these settings to apply to the optimization. You can view information about the spread, contract size and other details about the selected instrument by clicking Symbol Properties. You can also select a time frame, from one minute M1 to one hour H1 to Daily, using the Period drop- down menu.

If you want to view this instrument with this time frame on the chart, click Open Chart. MetaTrader stores historical data for all symbols and time frames so you can research the price moves of an instrument over time or test how an expert advisor strategy would perform during a particular market event.

With historical data, you can use the Model drop-down menu to select three modelling types for testing. This is the fastest method to analyse price moves on the chart. When you want the expert advisor to go through optimization, you can click the Optimization checkbox. If you want to modify the expert advisor before you test it, you can click Modify Expert to open Meta Editor and made the changes you want. Once the expert advisor is compiled, you can return to MetaTrader and continue your test.

If you think the market will behave like it did at some point in the past, you can click the Use Date checkbox and use the drop-down menus to specify a date. You can select any date back to January 1, You can watch a visualization of the expert advisor being tested or optimized by checking Visual Mode. When this is checked, MetaTrader displays a chart with the expert advisor and performs the test or optimization. You can use the playback scrollbar to adjust the playback speed or stop the playback temporarily by clicking Pause.

If you checked the Use Date checkbox, you can click Skip Ahead and select the date you want to see. When you are ready to run the test, click Start. MetaTrader shows a progress bar so you can monitor the amount of time it takes to run the test. At any time during the test, you can click Stop to close the test.

The amount of information that appears in the chart window may be different than the amount you receive from the History Center.

Once opened, the Strategy Tester appears below the Terminal window. You may need to adjust the size of the Strategy Tester window to see all of the windows you have open. If you want to optimize an expert advisor, you should select Control Points. Testing or Optimizing an Expert Advisor: 1. Click View and select Strategy Tester.

Select the expert advisor you want from the Expert Advisor drop-down menu. Click Expert Properties and specify the settings you want on the three tabs. Click OK when done. If desired, click Modify Expert and modify the expert advisor. Select an instrument from the Symbol drop-down menu. Select the time frame you want from the Period drop-down menu. If you are optimizing, check Optimization. If desired, check Visual Mode or check Use Date and select a date range.

Click Start. You can view information across several columns. Type displays what kind of trade was placed a sell, buy, etc. Order shows the ticket number of trade position or pending order. Lots displays the number of lots that were traded. Price shows the price at which the instrument was bought or sold.

If this field is blank, it means that no stop- loss order was placed. If this field is blank, it means that no take profit order was placed. Profit displays what your profit or loss was on the transaction. This value only appears for closed positions. The balance value is recorded only at closing of positions. You can click in the column header to sort the entries in ascending or descending order.

If you right-click in the Results tab, you can view a drop-down menu with other menu options. You can use Copy to copy select lines in the table. You can also click Copy All to select the entire table. You can also save the table as an. MetaTrader 4 offers both free and paid signals. For copy trading and copying other traders, you can easily find the registration form on their channel.

The MetaTrader 4 platform is also the best environment in the industry to find an experienced advisor who can advise you step by step on how to start and take your first steps. These can act on various levels, which range from the most basic inquiries up to consulting with those who already have a lot of experience and want to implement their own strategies.

MetaTrader offers an automated trading system which, thanks to trading robots, can do all the work for us. Science fiction? A trading robot can control both trading and analysis and this feature is very useful for those who have little time to study daily market analysis. To do this, a trading robot uses complicated algorithms, which are continuously tested and discussed in the forums which you can access directly from the platform. For complete and professional trading, it is essential to use mobile devices such as a smartphone or tablet when you are away from your computer.

For this very reason, there is no shortage of mobile versions of MetaTrader 4 for both iPhones and iPads , as well as for Android devices. Although not all the features on the computer version are available on mobile, the MetaTrader 4 mobile version has all of the most important features.

One of the most popular sites that offers the MetaTrader4 platform is Avatrade. We recommend that you download the content based on our guidelines on a step by step basis and by following the practical examples in our lessons as it is the only method that we consider to be valid for learning how to trade.

Skip to the first lesson пїЅ Installing MetaTrader4. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Join millions who've already discovered smarter investing by automatically copying the leading traders!

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