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How To Use MetaTrader 4 Lesson #3 Beginners Forex Settings For Charts

 

How To Use MetaTrader 4 Beginners Forex Charts

 

How to set your chart and charts up this is where more fun starts to unfold when you start to get familiar with the platform features and now at this stage you have learnt the basics in lesson 1 and lesson 2. About going to Google downloading your MT4 platform opening a bitcoin account transferring the Bitcoin Wallet account to the Turnkey Forex account. Been able to save the Forex app and pin it to your taskbar saving the login details etc..

But in this lesson #3, we’re going to dive straight into and have a lot more fun opening chart default chart, and to create your own style chart and go through all the necessary features that metatrader 4 offers us.

1 Opening up our metatrader 4 platform

2 Opening up our default chart on the metatrader 4 platform

3 Looking at the menu that metatrader 4 offers us in our trading chart departments

4 Ways to customise our chart which metatrader 4 indicators etc, what they offer us is a lot of great stuff

5 To save chart as a template, and save a group of charts as a profile

 

In This Menu Area What The Metatrader 4 Has To Offer For Charts

 

  • Indicators List– call window managing indicators imposed in the active chart. The full list of indicators imposed (including custom indicators is given in the window appeared. Having selected an indicator, one can change its settings or remove it from the chart.
    The same action can be performed by the chart context menu command of the same name or by accelerating.
  • Objects– call sub-menu managing imposed objects. The following commands are available in the sub-menu?
    • Objects List – call window managing the imposed objects. Objects include line studies, signs, shapes, and texts. The selected object can be modified (the “Edit” button) or deleted by pressing of the button of the same name in this window. Besides, the “Show” command moves the active chart to the imposed object location?
    • Delete Last – delete the last imposed object from the chart.
      The same action can be performed by pressing the Backspace button;
    • Delete All Selected – delete all selected objects from the chart window.
      The same action can be performed by pressing the Delete button;
    • Delete All Arrows – delete all objects from the chart window;
    • Unselect All – unselect all the objects imposed in the chart;
    • Undo Delete – return the deleted object back into the chart.

 

Metatrader 4 Different Chart Styles Bar, Candles, Line Chart

 

  • Bar Chart– display the chart as a sequence of bars.
    Execution of this command is the same as pressing of the button of the charts toolbar.
  • Candlesticks– display the chart as a sequence of “candlesticks”.
    Execution of this command is the same as pressing of the button of charts toolbar.
  • Line Chart– display the chart as a broken line connecting close prices of bars.
    Execution of this command is the same as pressing of the  button of charts toolbar.
  • Foreground Chart– put the chart as a “foreground”. If this function is enabled, all analytical objects (technical indicators and graphical objects) will be placed “behind the chart”, not over it.
  • Timeframes– choose the chart timeframe. After this command has been executed, a sub-menu will appear where the active chart timeframe can be selected.
    The chart timeframe can also be changed with help of the time frames toolbar.
  • Template– call the template managing sub-menu. From this sub-menu, one can impose any template into the active chart. Moreover, a new template can be stored based on the active chart, or an existing one can be deleted. More details about working with templates can be found in the profiles and templates section.
    The sub-menu managing templates can also be called by pressing of the button of the charts and toolbar.

 

Metatrader 4 Default Template

 

  • Attention: The DEFAULT template cannot be deleted.
  • Refresh– refresh history data. At that, all missing data within the existing history will be downloaded. The same action can be performed by the chart context menu command of the same name.
  • Attention: History outside the range of the existing data will not be added.
  • Grid– show/hide grid in the chart window.
    The same actions can be performed by the chart context menu command of the same name.
  • Volumes– show/hide volumes in the chart.
    The same actions can be performed by the chart context menu command of the same name.
  • Auto Scroll– enable/disable automatic shifting of the chart to the left after a new bar has started to form. If this option is enabled, the last bar will always be shown in the chart.
    Execution of this command is the same as pressing of the button of the charts toolbar.
  • Chart Shift– shift the chart from the left window border to the shift label of the chart. The shift label of the chart (a grey triangle in the upper part of the window) can be moved with the mouse horizontally within 10 to 50% of the window size.
    Execution of this command is the same as pressing of the button of the charts toolbar.

 

Metatrader 4 Chart Zoom In and Zoom Out

 

  • Zoom In– zoom in the chart.
    The same action can be performed by pressing of the “+” key or the  button of the charts toolbar, as well as by moving the cursor to the right, the left mouse button being pressed on the horizontal scale;
  • Zoom Out– zoom out the chart.
    The same action can be performed by pressing of the “-” key or the button of the charts toolbar, as well as by moving the cursor to the left, the left mouse button being pressed on the horizontal scale;
  • Step by Step– shift the chart by one bar to the left.
  • – setting up the chart parameters. At this command execution, the chart setup window will appear.
    The same actions can be performed by the chart context menu command of the same name.

 

You will see the metatrader 4 video below how to go about to open the default chart is followed by opening and customising the chart to your own style. Now you are ready to trade the global exchange rate from your metatrader 4 platform.

 

 

Thanks.  enjoy!
Tommy

8 Comments
  • Tom
    Posted at 12:43h, 01 July Reply

    Hey Tommy,

    I’ve been through one of your posts a couple of days ago and I am loving them. Your lessons are really easy to follow and I think I am going to take this a lot more seriously as we get down further lessons. I hope a lot of other people have found your site and gone through the lessons just as I have.

    Thank you again for sharing and keep up the amazing work.

    All the best,

    Tom

    • Tommy
      Posted at 20:32h, 01 July Reply

      Hey Tom,

      I’m glad to hear that you’re enjoying the lesson and you can follow along at easy great I really appreciate that.
      And that you are interested more and more in Trading now that’s great, make sure you go from lesson #1 all the way to lesson #4, lesson #4 I’ll be sending out tomorrow and you’ll be able to have a FREE Super beginner-advanced strategy to play with on your demo account. In lesson #1 you will get the A to Z how to open an account with Turnkey Forex and download a free Demo account and try out my FREE GREAT TREND TRADING STRATEGY you will love it. I’d love to hear your comments when you play with this strategy for a bit of time. Ok sound good.

      Thanks. 🙂
      Tommy

  • Catherine
    Posted at 18:22h, 01 July Reply

    I have been interested in learning about trading stocks. You provide lots of information on the basics here. Can I ask you about the types of accounts you can create?

    • Tommy
      Posted at 20:53h, 01 July Reply

      Hi Catherine,

      That’s great that you have an interest in Trading make sure you go from lesson #1 all the way to lesson #4. Tomorrow I will be having my lesson #4 out and you’ll be able to have a Free Super beginner-advanced strategy to play with on your demo account Turnkey Forex is a good platform account to try out and I’d love to hear your comments when you play with this strategy for a bit.

      I don’t trade stocks, but on average 1-day NY stocks trading exchange 28 Billion, and the Forex or FX is 5.3 Trillion 1 day that’s why i trade the Forex.

      Sound good, 🙂
      Tommy

  • Alex
    Posted at 04:13h, 02 July Reply

    Hi Tommy,

    That’s an excellent video. Your explanation in this video is very clear. I have a very brief idea about how to use MetaTrader 4 platform to manage the charts. Since I don’t have any experience of trading forex but just have a bit of experience of trading stocks, I would like to ask does this platform also suitable for trading stocks? Also, is it difficult to trading forex rather than stocks?

    All the best,

    Alex

    • Tommy
      Posted at 12:10h, 03 July Reply

      Hi Alex,

      That’s great I appreciate your taking the time to watch the video and you got some great value from it happy to hear that.
      If you would like if you can go back to lesson #1 where I show you how to download the metatrader 4 platform so you know how to do that etc.
      lesson #4 is the last lesson of this series, where I share my Free super beginner-advanced trading strategies that you could try out by following with lesson #1 you can download a demo account to try out the strategy and when you apply it you will see for yourself.

      In terms of the metatrader 4 platform, some platforms will offer some stocks but not a full list of stocks if you are solely looking to trade stocks.
      If you have any other questions let me know.

      Thanks. 🙂
      Tommy

  • Thabo
    Posted at 17:52h, 04 July Reply

    Great to see such information
    As a professional trader I am intrigued about the value provided here and will really be useful for a beginner. Do you also use metaTrader 5?

    • Tommy
      Posted at 22:32h, 06 July Reply

      Hi Thabo, thanks for your comments and feedback, i am here to help. I only use MetaTrader 4.
      If you have any other question happy to help.

      Thanks.:-)
      Tommy

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