Even though many brokers already offer Metatrader 5 version for trading Forex, but MT4 version is still a favorite for many traders
Metatrader 4 useful tips and tricks
Even though many brokers already offer Metatrader 5 for trading Forex, but MT4 version is still a favorite for many tradersThis software offers hundreds of different features, but many of them are often neglected. That’s exactly why we put our heads together and wrote 10 lesser-known but very useful tips and tricks. Keep in mind that keyboard shortcuts in MetaTrader 4 are also a great help.
Display the time slider buttons
Many traders prefer to view charts and data in full-screen mode. Therefore, they do not see the buttons for making time slots and have to manually set them using the keyboard. The fastest way to execute this command is to press the “Enter” key, followed by the letter H (for the H1 time) and confirm it again by pressing the ENTER.
The RULER tool can be used appropriately if you want to measure the difference between two points (in pipes). In this case, you must first switch the cursor to “crosshair” mode by pressing Ctrl + F to display the price of the date and time coordinates of each point on the chart. To enable Ruler, you must press the left mouse button and drag the mouse to grab the tool. Above the line, you’ll see data such as the number of lines (columns) to the right or left of the cursor, the number of pips from “crosshair” mode to the cursor and the price at the cursor. This trick is more suited to analytics fans, but once you try it, you will definitely taste it.
This tip concerns one of the most attractive features of Metatrader 4, connecting custom pointers to the platform. First you need to get source code from a web resource that contains a indicator that you would like to use. Copy the text and go back to MT4 and press F4 to activate MetaEditor. Open the “Expert Advisor Wizard” and use it to create a new pointer: First click the “Custom indicator” and then “Next”. Select a name for the pointer and end the process by pressing the “Finish” key in the dialog box. Then, click the left mouse button on the body of the screen, select the entire code, and then click “Paste”. The last touch must be confirmed by pressing the F5 key to save the pointer.
Keeping track of the price of two pairs
The fourth tip is related to the previous: Once you can add and use a custom pointer, you can use it to edit the chart. In this way, the price development of two currency pairs can be monitored at the same time.
Add to Favorites
If you often use pointers such as EA or Script, they will become easier to access if you add them to Favorites Favorites. Simply right-click on the name of the indicator and select “Add to favorites”.
History of business transactions
If you’d like to look into your business transactions in more detail after the day’s trading, go to the Account History section of your desktop. Click the position you are interested in and drag it to the chart. As a result, you’ll be able to preview the input, target and output data, market, stop loss, and so on. You can control business-related events, and if you experience any inconvenience, you’ll know exactly what’s going on.
Create a template! Using a chart template can serve as a form of backup plan in case you accidentally delete some data or want to start a new chart with preset data. To create a template, you need to open a new chart, then press F8 to open the setting. Press “Save Template” to save the template to the “Charts” menu. Be sure to select a name you can easily remember for the template. If you want to use an already created template, go to the Chart menu, select Template and Name of Template.
Append explanations to charts
Do you know that you can also add text to your charts with an explanation? This can be done in the “Insert” menu. Just click on the space on the chart where you want to write and open the dialog box. Enter the text (which may not exceed a number of characters) that appears on the screen. If you would like to paste longer than the allowed text, use the “Insert Text” insertion option repeatedly.
Remove data from the screen
Reduce your workload by removing certain screen data, such as current news, symbols of all currency units you do not use when trading. You can easily remove the news from the “Tools” menu by selecting “Options” and then deleting it by pressing “Enable News”. Keep in mind that less workload improves connectivity.
Restart the software
And ultimately the simplest of our tips: restart the entire platform. This method seems to be the simplest solution for a number of common issues, such as cleaning your computer from all outdated alarm.