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MetaTrader 4 technical analysis overview

MT4 is one of the most popular trading platforms in the world.

It was developed primarily for online forex trading, but it can also be used for trading CFDs (Contract for Differences) and Future markets. MT4 is popular because it’s easy to use, reliable, flexible and secure. It’s the most widely used trading platform and has stood the test of time since it was launched by MetaQuotes Software in 2005.

Learn more in this in-depth MetaTrader 4 technical analysis.

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Meta Trader 4 logo Analysis

What is MetaTrader 4 (MT4)?

MetaTrader 4 (MT4) is a versatile electronic platform designed primarily to trade in foreign exchange (Forex). It’s suitable for Traders of all levels; from novice Traders to seasoned Traders. It provides features that support advanced technical analysis as well as a flexible trading system, algorithmic trading and Expert Advisors. All this is accessed via your personal computer or Smartphone.

With MT4, you buy and sell Forex orders via regulated Brokers who execute the trades for you. The electronic platform is free to use and very convenient to set up and start trading. Expert Advisors take the form of automated trade assistants which are basically Forex robots or chatbots.

MetaTrader 5 was released in 2010 and even though it’s gaining ground in its relevant market, MetaTrader 4 remains top choice for international traders.

Is MetaTrader 4 free to use?

MetaTrader 4 is free to use. There is no cost for downloading and installing MetaTrader 4 on your PC, IOS or Android. You can download it from the official website for MetaQuotes Software or a reputable online retail brokerage site.

There is also no cost to using MetaTrader 4. It’s free to open a Demo Account and most online brokerage firms do not charge a fee to open a Live Trading Account. Any cost incurred are fees charged by the brokerage firms for trader orders.

Is MetaTrader 4 safe to use?

One of the reasons MetaTrader 4 is so popular is due to its advanced security features. MetaTrader 4 encrypts all data transactions between Traders and the server to safeguard the system from cyber-attacks and hacking. MetaTrader 4 also conceals a Trader’s IP address as a further security measurement.

Is MetaTrader 4 used by Brokers?

MetaTrader 4 is the most popular trading platform used by Forex Brokers. It’s estimated about 95% of international brokerage firms support MetaTrader 4.

It’s popular as a highly efficient brokerage platform for account management, processing trades and transmitting quotes. The public interfaces (API) on MetaTrader provide Brokers with backup and data recover functions and a powerful security system.

More Information

If you’re new to trading, here are answers to some of the questions people ask online about MetaTrader 4 to help you decide if it’s the right trading platform for your needs.

Ease-of-use is one of the main reasons MetaTrader 4 is so popular. Downloading the app to your PC or Smartphone is quick and easy and you can start using MetaTrader 4 immediately once the system has created an account for you. For Beginners, MetaTrader 4 provides a simple user interface and layouts that can be customised to suit your trading style. For experienced Traders, MetaTrader 4 offers advanced options for charting that are in-depth and can be customised. MetaTrader 4 offers Traders an array of features and indicators but it has been developed to be simple and easy to navigate. Symbols and rates are found on the left side of the platform interface, charts are on the right side and the indicators and other features are at the top. Diversit-e Smart Trade College’s Coaches are qualified to guide you at no charge. Contact us for any assistance.
MetaTrader 4 is used by Traders to view REAL TIME currency prices and indicators, open and adjust trade orders, access customised charts and get fundamental and technical analysis. Mechanical traders use MetaTrader 4 to plug in an Expert Advisor (EA) and track trade opportunities. An EA is software that tells a Trader when to make trades or automatically initiates and executes trades according to pre-programmed instructions. MetaTrader 4 is also used by Brokers to communicate important information to their Clients. There is a mailbox section on the platform that allows Brokers and Clients to talk to each other online and in real time.
MetaTrader 4 was created by the Russian-based firm MetaQuotes Software. The software is licensed to Foreign Exchange Brokers who provide it free-of-charge to their Clients.
The MetaQuotes Language 4 (MQL4) is an object-orientated high-level programming language which was developed by MetaQuotes Software to write automated trading strategies and customise technical indicators for analysis of financial markets. It allows programmers to write a variety of expert systems (EAs) that operate in real time as well as create personalised graphic tools to facilitate trade decisions. MQL4 is based on the popular programming language C++. MQL4 syntax is similar to the syntax of C++ which makes it easy for Programmers to use to translate it into customised programmes from modern programming languages. MQL4 contains the basic indicators needed to analyse current and historical quotes and has built-in functions needed to manage trading orders. A few of the MQL4 features include: • Trading robot (Expert Advisor): an application which enables automated market analysis and forex trading • Custom indicator: a tool used to analyse market situations • Script: a small application that executes once-off to perform a simple action such as deleting objects from a chart, closing all orders or placing a number of pending orders for an open position • Library: a set of custom functions used to store and distribute often-used parts of custom applications
Standard features on MetaTrader 4 include: • multiple charts setup with integrated and easy-to-use charts • a navigator window • market watch window • Pepperstone market terminal provides live quotes, real-time charts, in-depth news and analytics, order management tools, indicators and EAs • indicators window • more than 50 pre-installed indicators • automated trading • one-click trading
MetaTrader 4 offers Traders a platform that is highly customisable. You can open all the charts and place all the indicators you need where you want them based on your trading strategy. The app allows you to arrange the way windows are displayed, change the charts appearance, input different internal and external indicators, arrange symbols in your preferred order and switch from account to account with ease. MetaTrader 4 automatically saves these changes so they are there for you the next time you open up the platform. The features appear on your screen as they were the last time you were in the system.
MT4 and MT5 both provide Forex Traders with an advanced automated trading system supplemented with advanced technical analysis features and expert advisors. MT4 was built almost entirely for Forex Trading, where MT5 functions to provide traders with access to CFDs, stock and futures. Bear in mind, MT5 is not an upgrade of MT4, it has its own function. MT4 is simpler to use and more suitable for investors who are new to trading in forex. MT5 is a more versatile trading platform with advance features and suitable for investors who are trading across a broader platform than Forex. Diversit-e Smart Trade College’s is reviewed as the “Best Education” company in this sector. Contact our support coaches who will gladly help, at no cost to you, download, setup and configure your MT4 real trading platform and also setup your demo and or real trading account(s).

[1]  Disclaimer: This information is applicable at the time of publishing.

DISCLAIMER & NOTICE: The answers are for educational purposes only and not financial- and or investment advice. Trading can be very risky. Never trade with money you cannot afford to lose. Always seek the advice of our preferred regulated FSCA Broker and or a regulated FSCA Financial Advisor.

How do I download MetaTrader 4?

MetaTrader 4 can only be accessed through the MT4 app that you download and install on your PC or Smartphone.

Downloading MetaTrader 4 is free, quick and easy:

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Select a reputable online brokerage that offers MetaTrader 4

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Download the MT4 app from their online site

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Select Install to upload it to your PC or Smartphone

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Open Account and select New Demo Account

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Fill in the required information

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Select the type of account you want to open

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Save the login details and password provided

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MT4 is live on your mobile device and you can start using it immediately

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