Platforms for all trading styles
MetaTrader4 (MT4) comes with an impressive array of features, enhanced by City Index’s service, support and pricing.
- Expert Advisors
- Custom indicators and trading signals
- Windows, Android and iOS platforms
MetaTrader Navigation/Main Window
By default, MetaTrader 4 opens with four chart windows, each representing a different currency pair. The toolbars, populated with many icons, are located at the top of the screen. Below the toolbars, on the left side of the screen, is the “Market Watch” window, which lists a variety of currency pairs along with corresponding bid and ask prices. Two tabs are located at the bottom of the “Market Watch” window: One is called “Symbols,” which shows this list of currency pairs. The other is called “Tick Charts;” this tab can be selected to show the current price activity of any of the currency pairs.
Below the “Market Watch” window is the “Navigator” window. Here, traders can view their account(s), as well as a variety of indicators, “Expert Advisors” and “Scripts.”
The “Terminal” appears at the bottom of the screen with six tabs: Trade, Account History, Alerts, Mailbox, Experts and Journal. Traders can click each tab to become familiar with the type of information that appears in each tab. The “Trade” tab, for example, is where open orders and trades can be viewed, including the symbol, trade entry price, stop loss levels, take profit levels, closing price and profit or loss. The “Account History” tab, on the other hand, lists all of the activity that has occurred, including closed orders. Figure 5 shows the different sections of the MetaTrader 4 screen.
MetaTrader 4 is a trading platform developed by MetaQuotes Software for online trading in the forex, contract for differences (CFDs) and futures markets. MT4, as it is commonly known, can be downloaded at no charge directly from the MetaQuotes web site or through dozens of online forex brokers. MT4 provides tools and resources that allow traders to analyze price, place and manage trades, and employ automated trading techniques.