MT4 Tutorial Toolbars
MT4 Tutorial Toolbars MetaTrader4 tutorial 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.
Toolbar section include:
– Standard toolbar:
The New Chart button allows you to:
•Open a New Chart
•Have your instruments arranged in a specific order
The Profiles Button allow you to:
•Create a profile
•Switch between your profiles
Profiles allow you to save a grouping of charts. So You can create a group of Forex charts for one profile and another profile for Indices. The reason for this is that they will normally use different strategies.
The Following 5 buttons are Shortcut Buttons:
•Opens & closes the Market Watch Window
•Opens & Closes the Data Window
•Opens & Closes the Navigator Window
•Opens & Closes the Terminal Window
•Opens & Closes the Strategy Tester
When the Shortcut Button is activated it will have an indentation like the Navigator & Terminal
The ‘New Order’ button allows you to:
•Enter a Buy or Sell position for a new Trade
•Open New Trade Window
Here you can:
•Choose your Currency or Index
•Set your Position Size by the Volume
•Set a Stop or Target
•Add a comment to your trade
•Set your Type of Entry
The Following 3 buttons are Shortcut Buttons:
•The ‘MetaEditor’ button opens the MetaEditor. It will open up a completely separate window
•The ‘Register a Virtual server’
•The ‘Register account as a source of trade signals’
The ‘Expert Advisor’ Button toggles the ON/OFF feature for the Expert Advisors. Expert Advisors (EAs) are programs in the terminal that have been developed in MetaQuotes Language 4 (MQL 4) and used for automation of analytical and trading processes.
MT4 Tutorial Toolbars
– Charts toolbar:
The ‘Bar Chart’, ‘Candle Chart’ & ‘Line Chart’ Buttons allow you to set the type of chart you want to use. The active option will be displayed as an indentation again.
The Zoom feature Shortcut:
+ Will Zoom-in to a chart
– Will Zoom-out of a chart
The ‘Auto Scroll’ Button will move the chart to the latest Tick as soon as a new Tick(Price) becomes available.
The ‘Chart Shift’ button will shift the chart backward so that we can see any indicators that produce future anticipation ahead of the price like the ICHIMOKU.
The ‘Indicator’ button allows you to choose an indicator to be added to the Chart
The ‘Period’ Button allows you to choose the timeframe for the chart
The ‘Template’ button allows you to load a template on a chart These 3 buttons are also Shortcut Buttons
– Line Studies Toolbar:
The Line Studies Toolbar will allow you to add any Support or Resistance lines as well as Trend Lines, Fibs, Channels & Symbols These are also shortcutted features and an indentation shows the current selection.
– Periodicity Toolbar:
The Periodicity Toolbar is yet another shortcut feature to select the Timeframe for the chart you working with. The selected Timeframe will be displayed with an indentation.