Meta Trader 4 Expert
MetaTrader 4 Expert is a trading platform that analyzes financial markets using Expert Advisors. Mobile trading, trading signals and the market are the integral parts of MetaTrader 4 Expert that improve your experience on all trading markets.
Millions of traders with a wide range of needs choose MetaTrader 4 to trade in the market. The platform offers ample opportunities for traders of all skill levels: advanced technical analysis, flexible trading system, algorithmic trading and expert advisors, as well as mobile trading applications.
The signals and additional services of Market extend the frontiers of MetaTrader 4. The Signals service allows you to copy the transactions of other traders, while Market offers you various Expert Advisors and technical indicators.
Trading and orders
Use the flexible MetaTrader 4 trading system
The MetaTrader 4 trading system allows you to implement trading strategies of any complexity. By combining different types of markets, waiting for orders and stops, in addition to using a trailing stop, it is possible to execute transactions despite the current market situation.
Three modes of commercial execution (instant, request and market) bring flexibility to a new level. You can select the most appropriate mode for each trading situation. If your trading strategy requires market access at a certain price, such action may be required before making an exchange. As soon as the desired price is displayed, the exchange can be executed.
However, if you want to access the market at that specific time regardless of the price, select the market execution method. In this case, the broker opens a position at the current market price without any additional confirmation from you.
Types of trading orders
An order is an instruction for a broker to execute an exchange on your behalf. Depending on the conditions in which the negotiations are carried out, there may be market orders awaiting suspension and interruption: 3 execution methods:
- 2 market orders
- 4 pending orders
- 2 stop orders
- Final stop
Market orders are used for immediate execution. Pending orders are formed at the present time but must be executed in the future as soon as the market situation meets the specified conditions. For example, Buy Limit is an order to buy when the price of the symbol falls below the current one. You can use this order if you expect that, after reaching a certain level, the downward trend will reverse and the price will be restored.
Stop orders (Take Profit and Stop Loss) help you to stop the profits obtained and to minimize losses. They are used in combination with market orders or pending orders, as well as with an already open position.
For example, you can enter a Buy Limit order and set the Take Profit level 200 points above the open price. Upon reaching the specified level, the long position is closed and the profit is corrected, so as not to lose it if the price reverses and moves downwards.
Stop Loss works the same way and also closes the position. It is designed to minimize losses in case your prediction turned out to be wrong. For example, a Stop Loss set at 100 points below a long position automatically closes the position at that level if the price falls.
The trailing stop automatically moves Stop Loss along a certain fixed distance from the current price if the latter moves in a favorable direction. But if the asset price reverses, the Stop Loss stops, protecting your profits or minimizing your losses.
Working with orders
In MetaTrader 4, orders can be set up in different ways: via Market Watch, using the shortcut keys or directly from the chart by enabling One Click Trading.
Full information on all orders and open positions are available in the Terminal – Trade window. From there you can track the number of orders and positions, open prices, volumes, stop orders and the status of your account. Also from this window you can review the detailed history of all your operations.
The powerful MetaTrader 4 trading system gives you complete control over your trades and your account. Choose MetaTrader 4 and you will have everything you need to succeed at favorable market conditions.
Discover the direction of the market
The technical analysis of Forex is based on the detection of certain trends and models, consisting of typical figures or shapes formed on symbol graphics. Various technical analysis tools use identified trends to forecast future exchange rate changes, define entry and exit points to the market and set the Stop Loss and Take Profit levels.
Make informed decisions
MetaTrader 4 technical analysis tools include 30 built-in indicators, over 2,000 free custom indicators and 700 paid indicators, which allow you to analyze the market at any level of complexity.
MetaTrader 4 offers 24 analytical objects: lines, channels, Gann and Fibonacci tools, shapes and arrows. With these tools, you can predict future price dynamics. Objects can be manually applied to both charts and indicator windows.
Predict the direction of the price, detect the various trends and set support / resistance levels: the MetaTrader 4 trading platform has everything you need!
9 times and unlimited number of charts
Each symbol can be displayed in 9 times: from one minute (M1) to one monthly (MN). This allows traders to see the dynamics of the quotes in detail and combine technical indicators and graphic objects on various periods of a single symbol. For example, after building a trend line in the daily period, you will also see it on M15, so that you are aware of the long-term trend. This will allow you to assess the current market situation by more accurately reducing the influence of the human factor in the decision-making process and turning your Forex trading into a more systematic activity.
9 time intervals will help determine short and long term trends and use these forecasts in trading
You can simultaneously open an unlimited number of charts, customize their appearance and apply various graphic objects and indicators. All the charts are interactive and you can zoom and scroll them in real time.
Download an indicator on the market or order it from a freelancer
30 integrated indicators are only the beginning. You can write your own indicator in MQL4 or download any of the 2,000 indicators from the free code base. Still not enough? Then search among the seven hundred paid applications in the Market. Haven’t you found a suitable one? Use the Freelance service and receive your personal technical indicator programmed by an experienced developer.
The job settings with Expert Advisors are grouped in this tab.
The terminal’s expert consultants are programs written in MetaQuotes Language 4 and allow you to analyze and negotiate in automatic mode (automatic trading). The description of how to create and use experts is shown in the “Automatic Trading” section. The section provided describes only the settings common to all experts:
- Allow automatic trading: this option allows you to enable or disable the execution of commercial operations by Expert Advisors and scripts. If it is disabled, scripts and Expert Advisor will work, but they will not be able to operate. This limitation can be useful for testing the analytical capacity of an expert consultant in real time (not to be confused with Expert Advisor tests on historical data). Automated trading can also be enabled or disabled using the button on the toolbar.
The option enables / disables autotrading for the entire terminal. If you disable it, no Expert Advisor will be allowed to trade, even if you enable autotrading in the EA settings. If you enable it, the Expert Advisors will be able to operate, if the autotrading is enabled in their settings.
- Disable automatic trading when the account has been modified: this option represents a protection mechanism that disables trading from Expert Advisors and scripts when the account is changed. It is useful, for example, when changing a demo account for a real one.
- Disable automatic trading when the profile has been modified: a large amount of information on the current settings of all the graphs in the workspace is stored in the profiles. In particular, the profiles contain information on the attached expert consultants. Expert consultants included in the profile will start working when a new tick rises. After enabling this option, trading can be hindered by Expert Advisors that start when the profile has been modified.
- Disable automatic negotiation when the symbol or period of the graphs has been changed: if this option is enabled, when the period or symbol of a graph is changed, the expert advisor, to whom it is connected, will be automatically prohibited from performing operations commercial.
- Allow DLL imports (potentially dangerous, enable only for trusted applications)
To extend their functionality, expert consultants can use DLLs (dynamic link libraries). If enabled, these libraries can be used without restriction. If this option is disabled, no expert can use external DLLs. We recommend that you disable importing when working with unknown experts.
- Allow WebRequest for the URL listed
The WebRequest () function in MQL4 is used to receive and send information to websites using GET and POST requests. To allow an MQL4 application to send such requests, enable this option and specify explicitly the URLs of trusted websites. For security reasons, the option is disabled by default.
To delete an address from the trusted list, select it and press the “Delete” button.
Attention: the values of the options called “Allow automatic trading”, “Allow DLL imports (potentially dangerous, enable only for trusted applications)” and “Allow web request by listed URL” specified in this window are default parameters for newly attached MQL4 programs . They do not affect the functioning of expert consultants, custom indicators and scripts already running.