MetaTrader 4 Guide
This guide will cover the following
- What is MetaTrader 4 and what are its advantages
- How does it operate
- Main Menu Section
- Standard Toolbar
- Charts Toolbar
- Line Studies Toolbar
- Types of Orders and Types of Order Execution
MetaTrader 4 is an electronic trading platform with huge popularity among retail foreign exchange traders. Developed by MetaQuotes Software Corp, the platform consists of a client and a server component. The latter is run by a broker, while the client software is provided to the brokerage company’s customers, who use the platform in order to receive real-time streaming prices and charts, to open positions and to manage their accounts.
A number of versions of the MetaTrader software had already been released, starting in 2002, when an enhanced version, the MetaTrader 4 platform, came out in 2005. Between 2007 and 2010, a large number of brokerage companies added the MT4 platform as an optional alternative to their existing proprietary trading software, due to its widespread use and the large number of third party scripts, advisors and custom-made technical indicators.
MetaTrader 4 is a full-cycle trading platform, that includes both back-office components and front-end terminals. In the current guide we will acquaint you with the platform’s client terminal and explain how to operate it. We will cover each section of the user interface and discuss the navigation through the toolbars, main menu buttons and context menus. Our goal is to guide you through the learning of the software’s specifics, and particularly how the MetaTrader 4 terminal can be customized, how to open and tweak charts, how to add indicators and automated mechanical trading systems and, ultimately, how to enter and exit positions.