The Many Advantages of using MT4

3 min readMar 15, 2021

For financial trading, MT4 is one of the best platforms. The platform is well-known for its user-friendly interface and simplicity of operation.

Meta Quotes created the platform in 2005, and it is available in 40 languages, and android and iOS can use it.

Although the app was designed for forex trading, it can also be used to trade metals, indices, and other assets.

To make your trading experience better, we have compiled some of the benefits of using MT4 as your trading platform.

1. Charts

In MT4, you can open up to 99 charts at the same time. Bookmarks are needed to move between them.

You may alter the graph’s parameters, such as the color of the lines. To do this, go to the menu and click on “Colors” under the “Properties” tab.

You can check saved adjustments on the chart in the left part of the window.

2. Types of timeframe

The timeline refers to the period shown on the chart. They are divided into:

• Long-term: This is D1 (one day), W1 (one week), and MN (one month) (1 month). They are analyzed in order to determine the trend’s course.

• Short-term: There are two types of short-term trading: intraday trading and day trading. M30, M15, M5, and M1 belong to the shorter timeframe. The letter M stands for minutes.

You can benefit from trading on any timeline, but you must pick the most appropriate one for each strategy, such as M1-M30 for intraday trading.

3. Pending orders

You can open a pending order in MT4. A pending order is a special feature that allows a trader’s application to sell or buy to be performed automatically until the price hits a certain amount.

4. Financial news

In your MT4 platform, you can get news from financial institutions, central bank rates, and political and economic news from different countries.

To keep up with the latest news, simply go to the news menu at the bottom of MT4.

If you’re a trend trader, this hack will come in handy. You can exchange and stay up to date without having to go to other websites for news.

5. Measure trends

We all get curious about the duration of a trend or pattern from time to time. The ruler feature in MT4 is helpful for this.

To scale, drag the left mouse button from one stage to another when clicking the mouse wheel.

It will show several bars, as well as the ruler’s beginning and ending points.

6. Adding one indicator to another

You can use two indicators simultaneously in Mt4. You must first add the primary indicator, followed by the secondary indicator.

Open the navigator window after inserting the primary indicator and move the secondary indicator onto the chart. The parameters, levels, and visualization will be shown in a window. You’re ready to go once you’ve added the data from the first predictor.

Elite Markets provides the white label and mobile MT4 for its clients in an optimized format. This setup provides the broker with a massive advantage against its competitors in money management.

Moreover, Elite Markets provides the broker with an unmatched level of support to manage trades, news feeds, spreads, commissions, markups, and much more.