Metatrader 4 manual. In this user manual, you'll find instructions on how to use the features and tools in MetaTrader. If you're new to the program, you can walk step-by-step through this manual to learn how to login and access specific. MetaTrader features. If you've been using automated trading systems for a while, we've.

Metatrader 4 manual

Metatrader 4 Backtest Manual

Metatrader 4 manual. It is important to select the MQL4 Folder. Here your will find folders for EAs and. Indicators. If you have downloaded an indicator and you want to apply it in MT4, simply copy the file you have downloaded and place it directly in to either the Expert or Indicators folder. After this you just need to close and restart MT4 platform.

Metatrader 4 manual


This lesson will go through the major primary functionalities of MT4 and demonstrate them using text and screenshots, providing an MT4 tutorial. Working from the initial screen view that is presented after installation, the toolbars are located at the top of the screen, and are full of icons. This window is located at the upper left of the screen. It shows a list of currency pairs with their current bid and ask prices. At the bottom of this window there are tabs which toggle the Market Watch view.

Within this window, you can view your account s , as well as any indicators, Expert Advisors and Scripts that you have saved.

Expert Advisors are programs written in MetaQuotes Language 4 MQL4 which may be attached to MT4 to implement automated trading strategies according to the program logic, allowing MT4 automated trading. You can create your own customized Expert Advisors by using the platform's "MetaEditor" feature which can be launched from the icon within the toolbar as shown in the diagram below, although this requires MT4 programming skill.

Expert Advisors are also widely available as free downloads from various web sources, or may be purchased as proprietary programs. An expert advisor can be attached to a currency pair by clicking on the expert advisor in the menu and dragging it over to the chart. The Metatrader 4 platform comes equipped with a wide range of pre-installed indicators, representing nearly all of the common technical studies that are made of Forex charts.

Scripts are macros that can be written or downloaded in order to shorten the inputs required to perform certain functions. A very common script type is one that implements consistent position sizes on all trades. The "Terminal" is shown at the bottom of the screen with a number of tabs at the bottom representing different functions and information. The Terminal is where trades are executed. The location of the terminal and its tabs is shown in the diagram below.

The items are listed and the contents of each may be viewed by clicking on a particular item within the list. Pending and triggered alerts are shown here. Note that alerts can be set to include a sound alert format, which may be useful. Metatrader 4 has a mail function, located here, although functionality is limited to receiving messages and replying to them only.

Some brokers offer a range of trading-related products for sale. The "MQL4 Code Base" shows a current list of free Expert Advisors and Indicators that have been posted to the Metatrader Community, including a description of the purpose and use of each.

Clicking on an item will take you to its relevant page within the Metatrader Community website at http: This tab brings up a log of the operation of any Expert Advisors that you have attached to your Metatrader Platform. This tab brings up a journal of all your activity within your Metatrader Platform. When a template is selected by you, it determines the layout of the chart s you view.

The platform also comes with some preset default templates that you may choose to use. Templates may also be accessed from one of the upper toolbar icons at the top of the screen:. Alternatively, you can achieve this by clicking on the Chart icon at the far left of the upper toolbar:. Each chart may be shown in three different graphical price formats: The formatting may be performed by clicking on the required one of the three icons located in the middle of the upper toolbar, as shown below:.

The zoom may be achieved by clicking on the positive or negative of the zoom icons within the upper toolbar:. These can be accessed on the left hand side of the lower of the upper toolbars:. This shows the stream of information that is currently flowing between your broker and your platform through your internet connection. If you do not, you may attempt to log in by right clicking on the numerical display which will open a log in dialog box.

If there are no faults in your log in but there is still no connection, check your internet connection is operating properly. If there is a connection but the information flow is still blocked, you should contact your broker. New trades may be opened at market or set to open at specified prices as either limit at a better price than the market price or stop at a worse price than the market price orders. Regardless of the order type, the order input dialog box may be accessed in either of two ways.

This does bring up the order dialog box, although the box is not shown in the diagram below:. The dialog box shows the prices that are available for both long buy and short sell trades. Stop loss and take profit levels for the trade may also be added before executing the trades, or left unfilled:. Failure to execute usually occurs in situations when a market order is input while the market price is moving very quickly.

An example of an execution confirmation is shown below:. Metatrader is available as a smartphone application, allowing you to trade with your phone from remote locations without having to be in front of a PC or laptop or tablet device with an internet connection.

If you have multiple accounts, or if it is your first log in to a new account, then the log in process must be performed manually. The log in dialog box can be accessed either by left-clicking on the Connection Status display in the bottom right-hand corner of the screen, and then left-clicking on the Log In box which appears, which will launch the log in dialog box:.

You will need to input your log in ID, password, and preferred server, all of which you should have received from your broker when you opened the account. Metatrader includes a strategy tester feature, allowing you to back test Expert Advisors against historical data. The detailed features are outside the scope of this lesson. You can access the Strategy Tester feature through the looking glass icon in the upper toolbar, which brings up the Strategy Tester window in the lower part of the screen after a left click is made:.

The details are beyond the scope of this lesson. Toggle navigation Toggle navigation. Navigation Toolbars Working from the initial screen view that is presented after installation, the toolbars are located at the top of the screen, and are full of icons. Market Watch This window is located at the upper left of the screen. Navigator Within this window, you can view your account s , as well as any indicators, Expert Advisors and Scripts that you have saved. MT4 Indicators The Metatrader 4 platform comes equipped with a wide range of pre-installed indicators, representing nearly all of the common technical studies that are made of Forex charts.

Scripts Scripts are macros that can be written or downloaded in order to shorten the inputs required to perform certain functions.

Terminal The "Terminal" is shown at the bottom of the screen with a number of tabs at the bottom representing different functions and information.

Trade this tab makes the terminal display in its window any trades that you have open, and all the current information relating to the positions of each trade. Account History this tab shows the history of closed trades with the significant information relating to each trade. News your broker may send you news items they consider relevant to the Forex markets. Alerts it is possible to create conditional alerts within Metatrader, to alert you to particular price events that you want to watch out for.

Mailbox Metatrader 4 has a mail function, located here, although functionality is limited to receiving messages and replying to them only. Market Some brokers offer a range of trading-related products for sale. Journal This tab brings up a journal of all your activity within your Metatrader Platform. Settings these are variables that determine how the information in front of you is presented by the platform.

Templates these are files that you may create and save or download. Templates may also be accessed from one of the upper toolbar icons at the top of the screen: Alternatively, you can achieve this by clicking on the Chart icon at the far left of the upper toolbar: The formatting may be performed by clicking on the required one of the three icons located in the middle of the upper toolbar, as shown below: Zoom you may soon in or out of particular charts.

The zoom may be achieved by clicking on the positive or negative of the zoom icons within the upper toolbar: Time Frames the time frame the periodicity of each data point along the horizontal time axis of a particular chart may be set or amended, either by simply clicking on the required periodicity button within the lower toolbar: Drawing Tools you can make your own studies on your charts by using these Drawing Tools, which include horizontal and vertical lines, trend lines, channels, etc.

These can be accessed on the left hand side of the lower of the upper toolbars: Connection Status in the bottom right hand corner of the screen, there is a graphical meter and a numerical display. Executing Trades the most important function that Metatrader can perform when connected to your broker is of course the actual execution of trades.

This does bring up the order dialog box, although the box is not shown in the diagram below: Market Orders these are trades that are opened right away at the market price. Stop loss and take profit levels for the trade may also be added before executing the trades, or left unfilled: Post-Execution when you have sent your order to your broker by clicking on either the blue or red buttons, you will receive a message within a dialog box that will appear on your screen, which will either confirm that your order was executed, or explain that your order was not executed, at which point you might want to try to execute the order again.

An example of an execution confirmation is shown below: Modifying or Closing Orders open or pending trades may be closed or modified, for example you may wish to amend stop loss or take profit levels, or enter such levels where none exist. Technical Analysis technical studies may be added by being drawn by the user, in addition to the application of indicators. Profiles chart profiles are a chart or selection of charts with defined settings that may be saved and accessed by the user. Crosshairs this tool is used to make measurements within a chart, and is accessed by clicking on the appropriate icon in the lower toolbar: The log in dialog box can be accessed either by left-clicking on the Connection Status display in the bottom right-hand corner of the screen, and then left-clicking on the Log In box which appears, which will launch the log in dialog box: MT4 Strategy Tester Metatrader includes a strategy tester feature, allowing you to back test Expert Advisors against historical data.

You can access the Strategy Tester feature through the looking glass icon in the upper toolbar, which brings up the Strategy Tester window in the lower part of the screen after a left click is made: MT4 Trading Simulator it is possible to find and download free programs that turn the MT4 platform into a trading simulator.

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