Welcome to the fourth episode of the MT4 show. If you have not read the previous parts, I recommend you to do so. Today, we will check out what buttons MT4 offers, what they are for and what you can do with them. So let’s get started.
Meta Trader 4 is a very comprehensive program which provides almost all kinds of tools that we can imagine with such software. It will help us to draw lines, points, icons , descriptions of the text, zooming in and out and more in the graph.
New graph
Adding a window with new graph, with which we can afterwards work. We can choose any of the assets such as commodities or forex.
Profile selection
We won’t need this button in the beginning of our trading.
Graphic tools
Adding a vertical, inclined or declined and horizontal lines used to draw a trend or a demand zone. Text boxes and icons are helpful if you want to label your lines for example. We can use a checkmark (√) below the candles, on which our winning trade has expired winning trade, and so on.
Choosing a timeframe
Zoom in and out of the market. After clicking on the button the time which represents one candle will change. With M1 each candle represents the development of the market for the period of 1 minute and so on. For binary options, the M1, M5, M15, M30 and maximally H1 will usually suffice.
Market
Show / hide the market window. We won’t need this button in the beginning.
Data window
Show / hide the data window. Not necessary either.
Navigator
Show / hide the navigator window. We won’t need this button in the beginning.
Terminal
Show / hide the terminal window. We won’t need this button in the beginning.
Chart type
Switching the chart type – the column / candle / line graph style.
Magnifier
Zoom in and out of the graph. Candles will always represent a certain time, which will not change. If you want the candles to represent a different time period, change the timeframe. I bet you will confuse these two options in the beginning.
Split window
My favorite button. Automatically aligns the graph windows so they are all the same size and visible. I use this button all the time.
Automatic shift, offset graph
If we have checked the button “automatic shift”, the graph will move by one space forward whenever a new candle shows up. If the button is not checked, the graph will move out of the window and we will be unable to see the new candles. Offset of the graph ensures that the right side of the graph will have more space, which is useful, for example, if you are using the P4L Candle time indicator.
Then there are even more buttons in the program, but we will definitely not need those (at least) in the beginning. I will explain them in one of the upcoming episodes. I hope I have helped you and taught you something new which will help you and increase profits! 🙂
Author
More about the author Step
I've wanted to build a business of some kind and earn money since I was in middle school. I wasn't very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author