To become an effective Forex trader, you need to know and understand the ins and outs of the market. By doing so, you will help improve your technical analysis on your trading platform, be it MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Below are some important facts and tutorials to help you trade better in Forex and gain your edge among other traders in the market.
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Shortcuts in MetaTrader 4 and MetaTrader 5
To manage your time well in the market, you need to have a clear understanding of the trading platform that you are using. When it comes to trading platforms, there are some shortcuts to help you manage your time more efficiently and have an improvement in your technical analysis as well as the execution of your Forex trades and CFDs strategies.
Here are some shortcuts you can use in MT4 and MT5 to customize the Chart types.
- ALT+1 – is used to show the bar charts
- ALT+2 – is used to display the candlestick charts
- ALT+3 – is used to display the line chart
- CTRL+M – is used to display the Market Watch and also check all the instruments that are available
- F11 – is used to enable/disable the full-screen mode
- CTRL+Y – is used to show/hide the time period separators
Other important shortcuts in MT4 and MT5
- CTRL+N – is used to open the Navigator window
- CTRL+E – is used to enable/disable the expert advisors
Keyboard Shortcuts to Navigate Easily On The Chart
- Home – is used to move the chart into the starting point
- End – is used to move the chart to into the ending point
- Page Down – is used to scroll quickly to the right
- Page Up – is used to scroll quickly to the left
- Delete – is used to delete any selected objects
Charting Customization
In MetaTrader 4 and MetaTrader 5, you can easily customize your charts so you can easily clarify some important chart data.
One of the easiest ways to change the chart type is through the use of a chart toolbar – simply tap the candlestick icon when changing the chart to a candlestick bar if you want to change it into bar charts.
If you want to modify the chart properties, you can do so by right-clicking on the chart then into the properties. From there, you can change the color if you enter the RGB code or you can pick from the drop-down list.
When changing the time frame, you can utilize the periodicity toolbar. To save your preferred template, you can right-click the chart and go to “template” before clicking the save template.
When loading a template, you can right-click the chart, then go to templates. After that, tap “load template” then click relevant template.
Autochartist For MT4 and MT5
Autochartist is a charting plugin that you can find in MetaTrader 4 (MT4) and MetaTrader 5 (MT5) which provides great help for Forex and CFD traders. The technical analysis tools in autochartist offer real-time trading setups that are ideal for pro traders and beginners. It also has built-in volatility analysis tools, trading alerts, and trend analysis.
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