The Salient Features of MetaTrader 4
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January 9, 2017 at 3:53 pm #4821
There are a huge number of forex trading platforms in the world. Some are more famous and more visible compared to others, and when we think about the most famous ones, two names spring to mind. Those are of Metatrader (4 and 5), and Ctrader. In this article, we’re going to discuss Metatrader 4. MT4 (a shortened form of metatrader 4) provides the traders with expert advisors and techno-analysts who can be of assistance when it comes to making decisions, and it has an extremely flexible trading system, complete with trading facilities which are algorithmic. It can be operated through a huge variety of operating systems and on computers, tablets or Smartphones. One of the greatest advantages of the mobile versions is that its user interface is completely identical to its laptop/PC/tablet one. Below are listed a few reasons why it is preferable to use MetaTrader 4: (If you want to trade forex, then you can easily avail of easyMarkets MT4; Easymarkets is one of the most prominent online brokerages at the moment.)
This is the newest feature developed on the MetaTrader platform. With the help of this addition, now traders would be able to simultaneously handle more than one account (in case they have it) on MetaTrader. Here, client funds from more than one account can be co-ordinated and managed under a single overarching “master” account. It supports three methods of allocation.
You Get the Option to set up Profiles and Customise Them
People who use MT4 can decide the ways in which the charts and different windows can appear on the screen. One can do this simply with a click on the “Profiles” button and selecting the option of “Save Profile As”. This way, you can save as many profiles as you want. If you need to access a profile, all you have to do is click on the “Profiles” icon and select the appropriate option from the drop-down list. You can choose from the several default profiles.
You Can Use Trendlines
What are “Trendlines”? Those are the lines which are created or displayed on charts to help identify all the areas of resistance and support. In order to draw a line, simply click on the “Trendline” icon. After clicking, drag it on in order to define the trendline, and then release the button of the mouse. Double-clicks on the trendline can help make changes.
You Can Activate the Crosshair Mode
The Crosshair mode can be activated and accessed by a single click on the middle button of the mouse. By making use of this feature, a trader would be able to move the crosshair over any particular price bar, or a part of a one price bar specifically. The crosshair mode is quite useful for determining the time and values of price, e.g., when looking for a recent high or low, or when identifying the time of printing a bar. A click on the “crosshair” icon can also activate the crosshair mode.
Easy Deletion Options
If you feel the need to delete or erase the lines that you have drawn, (both trendline and Fibonacci retracement), then it’s possible to do so by clicking on the keyboard’s backspace button. Using the same route, one could get rid of other similar things on the chart.
You Can Choose to View All Charts Simultaneously
If you find more than one chart to be open, then a few tabs would be seen to appear under the charts. Every tab would display a symbol name and a time-frame to correspond to it. By doing a double-click on a specific chart, you can see all the charts arranged in a horizontal tab fashion. Of these, it is possible to select any one chart to fill your screen. The display can be adjusted by clicking “Window” and selecting from the list. Among your choices are included “Cascade”, “Tile horizontally” and “Tile vertically”.
Reading all these points, it should really be no surprise that MetaTrader 4 has been one of the most popular forex trading platforms in recent history. And its popularity keeps increasing day by day.
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