Metatrader 4 trading platform

27-08-2021

MetaTrader 4 is a terminal for trading in financial markets, developed by MetaQuotes Software Corp. On the trading platform it is available to copy trades, test strategies on a demo account, use protective orders. Traders can open two charts in one window, set up automatic trading on the MT4 trading panel. Many brokers offer training for beginners to trade in MetaTrader 4.

System requirements

MT4 is compatible with virtually all versions of Windows. A computer with 4 GB of RAM or more is required for the terminal to work correctly. Processor capacity and video card type do not play a significant role. The installed program will not take more than 40 MB of disk space.

How to use MetaTrader 4

After you install the trading platform on your PC, the “Start” menu will display the programs of the terminal. You can also add a shortcut on your desktop for quick login. It is prohibited to launch several client terminals from one storage at a time. An individual program must be installed in different folders for each separate copy.

Configuring MetaTrader 4

To work with MetaTrader 4, you need to register your personal account. In addition to the account number, you must use the main or investor password. The former provides access to the account. When using the investor password, you can view charts, use tools for technical analysis and test advisors. At the same time, the user does not get access to trading on the market.

After creating a trader’s account, you can check the “Save personal settings and data at startup” box. When using this option, account numbers and passwords remain on your hard drive and will be applied automatically each time you launch MT4.

You can customize MetaTrader 4 terminal:

  • Server. Information about asset rates and news background is transmitted to the terminal through this server. In order to connect a trading platform to the server, find out its exact IP address and connection port. If you need to connect another service, specify its data in the format: “[Server’s Internet address] : [port number]” (for example “192.168.0.1:443”). The new IP address and port remain on your hard drive and will only be used when you create a new account. Using a proxy server, enable its support by checking the box “Allow proxy server”. Then activate the “Proxy” button, which opens the proxy settings window to specify the necessary parameters, which can be provided by the system administrator. You can investigate possible software errors by opening the user manual on the official website of the developer company.

options_server
Server settings window in MetaTrader 4
Proxy server MT4
Server settings window in MetaTrader 4

  • Charts. If the option “Show trade levels” is selected, the trader will be able to see the activation time of pending and protective orders. The function of the OHLC display allows knowing not only the asset name and the chart period but also the price of the last bar. After activating the option “Show Ask line” on the chart you will be able to see a horizontal line that corresponds to the Ask price of the last bar.

options charts

  • One-Click Trading. This feature allows the trader to trade without having to additionally confirm each trade. Trades can be opened with one click. Activation of this function is available at trading levels on the chart, in the context menu, on the quick settings panel.

  • Expert Advisors. In MetaTrader 4, you can analyze the market and trade in automatic mode. To configure the parameters for using auto-trading programs, go to the “Expert Advisors” tab. In the settings, there is an item “Allow DLL import”. Its activation opens access to DLLs. This function is considered potentially dangerous, so it is recommended to disable data import when working with unfamiliar Expert Advisors.

Expert Advisors

All candlesticks and bars on the charts are referenced to a specific time. Most often the time zone of the Greenwich meridian is used as a binding. The quotation chart is formed according to the time zone of the server location through which the data is received. You can add an additional clock to the taskbar or use the Clock indicator in the terminal to set the time.

MT4 hotkeys

You can use individual keys or their combinations to quickly control the terminal. For example, up/down and left/right arrows on the keyboard are used to scroll through charts. The terminal allows setting up the quick opening of all components of the “Navigator” window, except for those in the “Accounts” group. You can do this through the “Assign Hotkey” command in the context menu of the selected item.

Hotkeys MT4

Hotkeys Metatrader4

How to download MetaTrader 4

Download MetaTrader 4 for PC to receive the most powerful and convenient tool for technical analysis and trading in the markets. During the first launch, you will be prompted to open a free demo account allowing you to test all the features of the trading platform.

Frequently Asked Questions about MT4

How to load the quotes history in MT4

To import quotes, set the “Maximum Bars in History” parameter, which is located in the “Tools” menu settings in the “Charts” tab. Then open the “Quote Archive”, choose the necessary time frame for the desired asset, and press “Load”.

How to close a deal in MetaTrader 4

You can close orders (both pending and market) manually or use automatic Stop Loss or Take Profit. These functions are set for trades already placed or just opened. To close an order, you can double-click on:

  • order line in the “Trade” tab of the “Terminal” window;
  • horizontal lines on the chart indicating the order level.

How to test strategies in MetaTrader 4

To test strategies, go to the “Strategy Tester” window. From the “Settings” tab select:

  • Expert Advisor;
  • asset;
  • bar Simulation Method.

How to open a demo account in MetaTrader 4

When launching MT4 for PC or mobile terminal for the first time, the system will offer the trader to use a demo account. You do not need to make a real deposit to activate it.

How to change the leverage in MT4

To change the leverage settings, open the Navigator tab (Ctrl+N) and select “Accounts”. To see the leverage ratio and the base currency, hover your mouse over the account number.

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