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How to Use Indicators on Metatrader 4

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Not all trading platforms are created equal. , even MT4 platforms aren’t all the same!

They come with different sets of indicators, depending on your broker.

Some come with just the basics, while others come equipped with all sets of tools and advanced studies to help you with your trading decisions.

In a way, that’s where the beauty of MT4 lies–it’s highly customizable! Think of it as the PC of trading platforms (sorry, Apple fanboys!); you can run all sorts of indicators and EAs, tweak their settings in almost any way you want, and even create your own from scratch!”

In this lesson, we’re gonna get you started on getting the most out of MetaTrader 4. Knowing how to enter and exit trades isn’t enough.


You have to know how to use your platform’s various tools to the fullest, and you have to know how to customize them to your needs.

If you’ve ever wondered how other traders get all those fancy indicators and thingamajigs on their charts, then this lesson is for you!

After watching the video below, you’ll learn how to:

  • drawlineson your charts
  • add indicators
  • modify an indicator’s parameters

Hang in there… enlightenment is just a 2-minute video away!

Adding chart objects

1. Click on theInsertmenu.

2. Choose an object to add to the chart (ex. lines, shapes, arrows, Fibonacci).

Adding chart objects | MT chart objects

3. Click the chart area where you want the object to appear.

Adding indicators

1. Click on theInsertmenu.

2. Choose an indicator that you want to add. Indicators are usually grouped according to their type. In this example, themoving averageindicator is under theTrend-following section.

Adding MT4 indicators | Adding indicators

3. After choosing an indicator, you will be prompted to set its parameters. You can also edit the indicator’s color, line style, and other settings.

Setting MT4 parameters when Adding indicators

4. ClickOKonce you’re done tweaking the parameters and settings. And now the indicator is good to go!

 

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What Makes MT4 is the Best Forex Trading Platform?

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Buy robots and indicators directly in the platform

ETH EUR Trading Ideas

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Australian Dollar closes above 77 US cents

Currency markets unmoved despite rising equities and volatility in bond yields

AUD surges on improving demand for risk

AUD buoyed by improved demand for risk

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