MetaTrader 4 is a trading platform that allows you to trade currencies as well as other trading assets such as stocks and commodities. This MetaTrader 4 user guide will walk you through the process of getting started with MT4, as well as how to use the unique features that it offers. Visit multibank group
This software is available as a desktop application, a web-based application, and a mobile app, and it is compatible with Windows, iOS, and Android. Depending on the format you select, you will need to either download MT4 or create an account online.
After installing the software and creating an account, you can use MT4 for both demo and live trading. Customizable trading settings, such as setting a stop-loss or placing a limit order, are available with MT4. This MT4 user guide will also explain how to trade CFDs and indices with this software.
Make sure to thoroughly read this guide before diving into more MT4 features like technical indicators, Expert Advisors, and charts.
How to Start with MetaTrader 4 or MT4
As previously stated, MT4 is compatible with both Windows and Mac, and it can be accessed via a web browser, a desktop, or a mobile phone. This section will walk you through the steps of installing MT4 on your computer. Simply download the application from the Google Play Store or App Store to get MT4 on your phone.
MetaTrader 4 Installation on Mac and Windows
When it comes to Windows, the process of installing MT4 is fairly simple. All you need to do is download the software, run the.exe file, and follow the instructions on your screen to finish the installation.
For Mac users, the installation process is very similar—you will also need to download the software first, and then proceed with the installation as usual. However, while working on this MT4 guide, we discovered that there are some issues that you, as a Mac user, may encounter.
If you’re running the latest version of Mac OS – Catalina – you’ll notice that Apple has removed the option to run 32-bit applications, including MT4. Although unfortunate, this does not preclude you from using the software on your computer. All you need to do first is find an application that will run it and download it to your PC – there are many of them available online, and you should have no trouble finding and navigating through one.
Logging in and out of MetaTrader 4: explained
Following the completion of the software installation, you must run it for the first time. The program will then prompt you to enter your account information, which should be either your demo or full trading account information. If the login window does not appear automatically, click the “File” tab in the upper left corner of the screen and select “Login to Trade Account.”
If you do not want the MT4 to remember your login information, do not select “Save account information” when you first sign in. The MT4 software does not provide a way to log out.
Customize your platform with this MT4 beginner’s guide
Many professional traders consider trading software to be the single most important factor in trading success. In this section, we’ll show you how to use the MT4’s customizable features to tailor your platform to your specific trading needs.
Indicators
The “Indicators” folder of the “Navigator” window (which you can open and close by pressing CTRL + N on your keyboard) contains an impressive number of MT4’s own, core indicators. You can, however, add to this list by downloading and installing additional indicators.
To add a downloaded custom indicator, first locate the file that you downloaded and copy it to your clipboard. Then select “Open Data Folder,” which should take you to the “MQL4” and “Indicators” folders. After that, paste your copied file there and restart MT4. Your customized indicator will then appear in your indicator list.
Many new traders look up “MT4 how to find the weighted moving average (WMA)”. A moving average (WMA) is a type of MA that is part of the Moving Average Indicator. To locate it, first add the MA indicator to your chart by double-clicking on it in the “Indicators” folder. You will then be presented with a dialog box in which you can enter the indicator’s parameters: selecting “Linear Weighted” will result in a “Linear Weighted Moving Average” (LWMA).
Finally, to disable an indicator, press “CTRL+I” to bring up a list of available indicators. Select the indicator you want to disable and press the delete button.
MT4 Charting Fundamentals
Charts can be extremely useful when conducting analysis and developing a trading strategy. Furthermore, MT4 allows you to trade directly from the charts.
If you want to see your trading history on the chart, open the “Terminal” window and navigate to the “Account History” tab. You can then drag the trade window to the chat window to have it displayed there.
Your chart will now display the trade instrument, with small arrows and a dashed line indicating the opening and closing levels. Similarly, by opening the “Terminal” window and clicking on the “Trade” tab.
If you want to draw a line on the chart, look for “Draw,” which is marked on the toolbar as a button with a diagonal line. By pressing it, you will be able to draw a line that extends all the way to the far-right end of the screen.
If you want the trendline to reappear on a specific currency pair, save it as a template. You can do so by going to the menu bar at the top of the platform and selecting “Chart,” “Template,” and “Save Template.” When you want to reopen your trendlines, go to “Template,” “Load Template,” and select the name of your saved file.
How to Use MT4 to Trade
The most important function of trading software is to provide traders with access to the trading market. This section will provide you with a simple tutorial on how to trade various assets with MetaTrader 4.
Understanding Trading Assets in MetaTrader 4
Depending on the brokerage you choose, you will have a different selection of trading assets to choose from. However, what should you do if the one you want is simply not on the list? Here’s a step-by-step guide to resolving this minor problem.
To view the list of trading assets available, use the “CTRL+M” shortcut to open the “Market Watch” window. You should be able to select the CFD, currency pair, commodity, or indices you want by right-clicking on the “Symbol” you want and selecting the “Chart Window” option.
If the trading asset isn’t on the list, use the “CTRL+U” shortcut to select “Share CFDs”, “Cash Indices”, “Spot Metals” or “Symbols” (for currency pairs), and then click “Show” and “Close” to have it appear at the bottom of the “Market Watch” price list.