Published on August 25th, 2022 | by Dr. Jerry Doby

Advantages of MT4 Indicators

Introduction

As appeared in 2015, the mt4 indicator caught the eye of the vast trading community. Today, it is used by numerous forex traders. They highly rely on the extensive features and astounding benefits that we have listed below in the article. So, dive deep into it to learn about it in detail.

Advantages of MT4 Indicators

MT4 Indicators provides its users with the following benefits:

Mobile and Desktop Friendly

Today’s marketers want to work from anywhere and everywhere and MetaTrader4 is fully optimized for such use. It is available in three versions: desktop software, a mobile application, and a web-based platform that works without downloading or installing. It also covers all the common operating systems, like Mac, Windows, iOS, and Android.

It also enables its users to use different systems simultaneously. They connect to the same cloud-based server to share data, making it effortless to set up devices during the day. It allows you to continue from where you have left off. MetaTrader 4 works flawlessly on multiple platforms and guarantees maximum convenience and freedom of trade.

Provide Real-Time Access To Market Prices And Liquidity

MT4 allows traders to access real-time currency quotes and make trades. The currencies and other securities that the trader chooses to trade through the broker are listed in the Market Watch window. Real-time bid/sell offers are also shown next to the security icon.

Traders can also view all other details such as spreads, contract size, margin currency, and margin percentage in this window. In addition, the market depth function informs traders about market activity in real-time. For example, the number of buy or sell orders for currency pairs at different prices can be seen in the Depth of Market section.

It provides an overview of the market sentiment. When information shows that supply liquidity is greater than supply liquidity, the overall trend for a currency pair can be considered bullish. With increased liquidity, there is usually a better chance of filling orders at current prices. It can be efficient for short-term trading strategies such as scalping.

Slippage

No matter whether the trading strategy has been used, slippage is considered a problem for day traders and scalpers. On the other hand, it is also mandatory for most market participants. MT4’s blazing fast performance and stability help to overcome this problem, which in the end can dramatically affect your profits.

Has A Wide Range Of Indicators

Accessing multiple indicators in an uncertain environment is critical. MetaTrader 4 is equipped with standard and specialized tools that allow the use of all types of trading strategies. Traders with different profiles and goals can join a broker that covers MT4 and participate in any market. Day trading, swing trading, or even position trading is possible while using this platform.

User-Friendly Interface

MT4 supports strategies of any complexity. Although it is simpler than MT5, its relative simplicity appeals to many users. Therefore, beginners are advised to use the previous version and migrate to MT5 later if needed.

Trading can be done in two ways – by the market or pending orders. In the first case, the retailer receives the best price currently available. For delayed automatic execution, pending orders and stop orders are used.

The system is full of useful functions. Automatic triggers and Stop Loss and Take Profit allow you to limit potential downside and lock in the desired profit respectively. You can trade from charts, set floating stops, and access personal history. In general, trading is flexible and convenient.

Highly Flexible

There are different types of trading orders and execution modes, which allow traders to create and execute their preferred strategy. MT4 provides two market orders and four pending orders. Also, the three types of trade execution modes offer traders a lot of flexibility.

The wide range of order types makes MT4 attractive to traders of all styles. Even traders who may not want to trade Forex as a full-time job can rely on MT4 for their trading

Conclusion

Even though there is an extended version (MetaTrader 5), MT4 is still useful. This multifunctional system meets the needs of both novice and experienced traders. It supports live and demo accounts, and traders can use all popular strategies, both technically and fundamentally. This broad functionality of MT4 explains its steady popularity over the last 15 years.

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About the Author

Dr. Jerry Doby Editor-in-Chief of The Hype Magazine, Media and SEO Consultant, Journalist, Ph.D. and retired combat vet. 2023 recipient of The President's Lifetime Achievement Award. Partner at THM Media Group. Member of the U.S. Department of Arts and Culture, the United States Press Agency and ForbesBLK.