MT4 Tutorial Chart
MetaTrader4, MT4 tutorial chart will guide You through the process of better understanding this great trading platform. Knowing your platform will make your trading easier and will help to improve your trading skills. Trading is about constantly improving your skills, one of them is through knowing how your platform functions.
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. As you trade, you’ll discover that the chart window is essential for monitoring your trades, performing technical analysis, and running expert advisors, custom indicators, scripts, and other autotrading files. 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.
To access chart window properties right-click in chart window for drop-down menu:
Chart drop-down menu will allow You to access:
•Depth Of Market to to quickly manage stop levels (Stop Loss and Take Profit) and pending orders of open positions.
•Indicators List to see indicators attached to chart, remove and access indicators properties.
•Objects List to see all objects added to chart, edit and remove objects.
•Experts Advisor to see Expert Advisors attached to chart, remove and access EAs properties.
•Timeframes shortcut to change timeframe
•Template shortcut to change chart template
•Refresh to update chart window
•Auto Arrange to set the height of all indicators windows as default.
•Grid to activate or deactivate grid on chart.
•Volumes to display the current trading volume for the selected instrument.
•Zoom In and Zoom Out shortcuts
•Save As Pisture…, Print Preview and Print… to save, preview and print chart.
•Properties… to access chart window properties.
Chart properties will allow you to change colours of everything displayed on chart like bar up, bar down , background etc…
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 or create, download custom indicators. You can add as many indicators to the charts as you would like, but it is advisable to use no more than five at a time. You can add indicator through Navigator or Main Menu Insert option.
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 Parameters tab is where you can enter specific data on how the indicator appears in the chart.
•The Levels tab is where you can add level lines to the indicator.
•On the Visualisation tab, you can select in which time frames the indicator can be used.
Custom Technical Indicators installation:
Download indicator (.ex4 and .mq4 format) and place files in the MetaTrader “Indicators” Data Folder found in Main Menu File section:
“Indicators” folder is located in “MQL4” folder.
Restart MetaTrader Platform.
Traders set up charts the way that work best for their trading style also to help and improve technical analysis. We changed colours, removed grid, changed bar view to candlesticks and added Moving Average to achieve better view on same chart: