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Beginners Guide MT4

This document provides a guide to the basic functions and icons in the MetaTrader 4 trading platform. It describes 42 icons that allow users to perform essential trading tasks like opening charts, placing orders, testing strategies, and applying technical indicators. The guide is intended to help new MT4 users understand the platform's interface and functionality.

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ktlogesh48
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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68 views

Beginners Guide MT4

This document provides a guide to the basic functions and icons in the MetaTrader 4 trading platform. It describes 42 icons that allow users to perform essential trading tasks like opening charts, placing orders, testing strategies, and applying technical indicators. The guide is intended to help new MT4 users understand the platform's interface and functionality.

Uploaded by

ktlogesh48
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MT4 Beginners’ guide

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New Chart (1): Opens a new chart window.


Profiles (2): Profiles allow you to save and load different workspaces.
Market Watch (3): This icon toggles the Market Watch window, which displays
a list of available trading instruments, including currency pairs, indices, and
commodities. You can see live bid and ask prices and access more options by
right-clicking on an instrument.
Data Window (4): The Data Window provides detailed information about the
selected chart, including open, high, low, and close prices, along with
indicators and drawing objects applied to the chart. It updates dynamically as
you move the cursor over the chart.
Navigator (5): Clicking this icon opens the Navigator window, which allows you
to manage your accounts, add technical indicators to charts, and access Expert
Advisors (automated trading systems) and Scripts (custom trading tools). You
can drag and drop these items onto the chart, or double-click on them.
Terminal (6): The Terminal icon toggles the Terminal window, which displays
various tabs such as Trade (for open and pending orders), Account History,
Alerts, Mailbox, Market, Signals, Articles, and more. It provides essential
information and tools related to your trading activities. You can also check
your Balance, as well as your profit or loss for your current and past trades.
Strategy Tester (7): Access the strategy tester tool for testing expert advisors
on historical data.
New Order (8): Clicking the New Order icon opens the "New Order" window,
where you can place a market or pending order. You can set the instrument,
order type, volume, stop loss, take profit, and other parameters before
executing the trade.

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MetaEditor (9): Launch the MetaEditor program for developing custom


indicators, expert advisors, and scripts.
Register a Virtual Server (10): This icon allows you to access the Virtual
Hosting Wizard, which helps you subscribe to a Virtual Private Server (VPS)
directly from the MetaTrader 4 platform. A VPS is useful for running your
Expert Advisors or trading robots 24/7 without needing to keep your computer
on all the time.
Register Account as a Source of Trade Signals (11): This icon lets you register
your trading account as a signal provider within the MetaTrader 4 Signals
service. The Signals service allows traders to copy the trades of experienced
traders, known as signal providers. If you have a profitable trading strategy,
you can register your account as a signal provider and earn additional income
by sharing your trades with other users who subscribe to your signals.
Automated Trading (12): This icon allows you to enable or disable automated
trading on your MetaTrader 4 platform. When automated trading is enabled,
your Expert Advisors (EAs) or trading robots will be allowed to execute trades
automatically based on their algorithms. Disabling automated trading will
prevent any EAs from trading on your account, but they will continue to run
and analyze the market.
Bar Chart (13): Changes the chart to a bar chart.
Candlestick Chart (14): Changes the chart to a candlestick chart.
Line Chart (15): Changes the chart to a line chart.
Zoom In (16): Zooms in on the chart.
Zoom Out (17): Zooms out on the chart.
Arrange Windows as Non-Overlapping Tiles (18): Helps you organize and
manage multiple chart windows more efficiently.

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Auto Scroll (19): When this icon is active, the chart will automatically scroll to
the most recent price bar as new data comes in. This feature is helpful for
keeping your chart up-to-date with the latest price movements. If you want to
manually navigate the chart, click the Auto Scroll icon to deactivate it.
Chart Shift (20): The Chart Shift icon shifts the chart to the left, leaving some
space on the right side of the chart window. This extra space can be useful for
adding projections, drawing trendlines, or visually anticipating future price
movements. Click the icon again to return the chart to its original position.
Indicators List (21): Clicking the Indicators List icon opens a window displaying
all the technical indicators currently applied to the chart. You can edit the
settings of each indicator, delete them, or add new indicators by clicking the
"Add" button. This feature provides a convenient way to manage the indicators
on your chart.
Periodicity (22): The Periodicity icon allows you to change the chart's
timeframe, which represents the duration of each price bar or candlestick.
Common timeframes include M1 (1 minute), M5 (5 minutes), H1 (1 hour), D1
(1 day), and more. Changing the timeframe can help you analyze the market
from different perspectives and identify trends or patterns on various time
scales.
Template (23): The Template icon provides access to options for saving,
loading, or managing chart templates. A template stores the chart's settings,
including colors, applied indicators, and other visual elements. By using
templates, you can quickly apply your preferred settings to multiple charts or
switch between different trading strategies without needing to configure each
chart individually.

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Cursor (24): The Cursor icon selects the default cursor mode, allowing you to
interact with the chart by clicking, dragging, or selecting objects.
Crosshair (25): The Crosshair icon changes your cursor to a crosshair,
displaying the date, time, and price level at the current cursor position. This is
useful for pinpointing specific points on the chart for analysis.
Draw vertical line (26): This icon allows you to draw a vertical line on the chart,
which can be helpful for marking specific times or events.
Draw horizontal line (27): This icon allows you to draw a horizontal line on the
chart, often used for marking support and resistance levels.
Draw trendline (28): The Draw Trendline icon enables you to draw a diagonal
line on the chart to identify and connect significant price points, such as highs
or lows, to visualize trends.
Draw equidistant channel (29): This icon allows you to draw parallel trendlines
that form a channel, often used for identifying potential support and resistance
areas within a trending market.
Draw Fibonacci retracement (30): The Draw Fibonacci Retracement icon
enables you to place Fibonacci retracement levels on the chart to identify
potential reversal points based on the Fibonacci sequence.
Draw text (31): This icon allows you to add text directly onto the chart, which
can be useful for adding notes or labels.
Draw text label (32): The Draw Text Label icon enables you to place a text label
on the chart, usually used for marking important price levels or events.
Arrow (33): This icon allows you to add arrow objects to the chart, often used
for pointing out specific price points or patterns.

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Timeframes (34 to 42): These icons represent different chart timeframes,


allowing you to switch between timeframes easily. M1 represents a 1-minute
chart, M5 represents a 5-minute chart, M15 represents a 15-minute chart,
M30 represents a 30-minute chart, H1 represents a 1-hour chart, H4
represents a 4-hour chart, D1 represents a daily chart, W1 represents a weekly
chart, and MN represents a monthly chart.

Disclaimer: This guide serves as a reference for the basic functions and icons in
MetaTrader 4. It may not cover all features and functionalities available within
the platform. If you are a trader who requires more information or has specific
questions about MT4, please feel free to contact me. I am committed to
updating this PDF guide to provide comprehensive and up-to-date information
based on user needs and feedback. Thanks!

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