Part 5 Meta Trader 4 Show – View Commodities Graphs

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Trading with MetaTrader 4!

It is the world’s most popular trading platform that has everything you need to trade in an advanced environment. Using it, you may become one of the best traders.

• Flexible and fast trading platform
• Trading signals from leading providers
• Trading advisors for algorithmic trading
• Access from computer, tablet or mobile phone

Advantages of MetaTrader4

  • The most powerful platform
    Open an account to trade with competitive spreads on the most powerful and modern platform in the world!
  • Easy access
    Trade easily from a computer, mobile phone or tablet based on iOS or Android and in your browser.
  • Analytics
    Display of several time frames, analytical objects and technical indicators on convenient and interactive charts.
  • ‘Guardian angel’ tool
    An individual feedback tool that helps you to make decisions and increase trading efficiency.
  • Trading advisors
    Programmes that make it possible to carry out algorithmic hands-free trading, or automated trading platforms to achieve high results.

Opening an account

Open an account and select MetaTrader 4 as the main platform

Adding funds

Fund you account to gain access to the markets

Downloading

Download MetaTrader 4 and log in using your credentials

The ICON INVESTING brand and company is owned and operated by Icon Company LTD. Please note that Icon Company LTD is an international company providing brokerage services to customers from different countries. By continuing your work on the Company`s platform you agree that the Company’s laws of jurisdiction apply to your relations with the Company.

Icon Company LTD, Rodney Bayside Building, Rodney Bay, Gros-Islet, St. Lucia.
+44 203 8078728

Risk warning

Trading CFDs and spot contracts involves a high level of risk. CFDs trading may not be suitable for you. Therefore, make sure that you fully take into account all financial and legal aspects and accept the risk of loss that may occur in the investment process. If necessary you should seek legal advice.

Setting up the Commodity Channel Index (CCI) in MetaTrader 4

This guide shows you how to set up the CCI in MetaTrader 4.

After reading this MetaTrader 4 tutorial, you should be able to:

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  • Add the CCI and set the parameters of this indicator
  • Change the parameters
  • Remove the CCI

Add the CCI and set the parameters of this indicator

  1. Click Insert and move your mouse over Indicators and Trend
  2. ClickCommodity Channel Index

Setting the common parameters

After you have completed the step above, the settings menu appears.

Most indicators can be controlled by several common parameters.

There are two types of parameters:

  • Calculations of the indicator: e.g. the amount of periods used for the CCI (you do not need to worry too much about this in the beginning)
  • Visuals of an indicator: e.g. how it will look, the colour and thickness of the lines, etc.

Changing parameters at a later time

To change the settings of the indicator directly on the chart at a later date:

  1. Right-click the CCI (you will have to be exact on the line of the indicator to get the menu seen below)
  2. Choose CCI(14) Properties – The (14) is the respective parameter (Periods) and can differ, depending on your choice when setting the parameters

The parameter menu appears again where you can change the indicator.

What is MetaTrader 4 and how do you use it?

MetaTrader4 (MT4) is a popular online trading platform that can be used to automate your trading. Its simple user interface gives you access to advanced technical analysis and flexible trading systems. Here’s a guide on what MetaTrader 4 is, and how to use it.

Call +61 (3) 9860 1799 or email [email protected] to talk about opening a trading account. We’re here 24 hours a day, from 4am Saturday to 10pm Friday (BST).

What is MT4?

MetaTrader 4 (MT4) is a trading platform developed by MetaQuotes in 2005. Although it is most commonly associated with forex trading, MetaTrader 4 can be used to trade a range of markets including forex, indices, cryptocurrencies, and commodities, via CFDs.

MT4 is extremely popular due to the fact that it is highly customisable to your individual trading preferences. It can also be used to automate your trading, using algorithms which open and close trades on your behalf according to a list of set parameters.

How do you use MT4?

Below is a step-by-step guide on how to access and use MT4 with IG.

Create an account

To use IG’s MT4 offering, you’ll first need to create a live IG account. Once you’ve done that, you can set up a live MT4 account from the My IG dashboard. There’s more instructions on how to do this on our download MT4 page.

Download MT4

After creating an account, you can download MT4 to your chosen device. Once you have downloaded MT4, you can log in with your IG credentials.

Open a position

using the order window When you’re ready to place a trade, go to ‘tools’ and click ‘new order’. This will bring up the ‘order’ window. Alternatively, you can press F9 on your keyboard.

Once you’ve done that, you’ll be presented with the order window.

While the order window can seem daunting at first, here’s a quick guide to all the components:

  • Symbol – this drop-down menu allows you to select which market you would like to trade
  • Volume – for a CFD account this is the number of contracts you would like to trade
  • Stop loss – if you want to use a stop to close the trade if it moves against you, enter your desired level here. Stops on MT4 are equivalent to basic stops on the IG platform
  • Take profit – if you want to use a limit to lock in profits, enter your desired level here
  • Comment – a small space to leave a comment about a particular trade; or for more advanced trade-management purposes
  • Type – choose ‘instant execution’ if you want to place your trade the moment you select either ‘buy’ or ‘sell’. Alternatively, select ‘pending order’ if you want to choose the level at which your trade opens

Depending on what type of trade you are placing, you’ll then be faced with the following options:

Instant execution

  • Enable maximum deviation from the quoted price – trades can sometimes be rejected if prices move suddenly as you place them. If you would still want to place the trade within a certain price range, check the box and fill out the ‘maximum deviation’ in pips (from the current price) that you would be willing to accept
  • Buy or sell – when you’re ready to place your trade, click ‘buy’ if you think the market will rise in value, or ‘sell’ if you think it will fall. This will place your trade

Pending order

  • Type – choose the type of order you want to place, from ‘buy limit’, ‘sell limit’, ‘buy stop’ and ‘sell stop’. Discover the difference between stop and limit orders
  • At price – select the price level at which you want your order to be triggered (note: for some order types you will be dealt at market level, irrespective of whether your chosen level is breached)
  • Expiry – check this box to specify a date and time for your order to expire if the market does not reach your ‘at price’
  • Place – click this button when you are ready to place your order

Monitor and close your positions and pending orders

To monitor your open positions and pending orders open the ‘terminal’ window by pressing Ctrl + T, or by clicking ‘view’ in the toolbar and selecting ‘terminal’. Next, navigate to the ‘trade’ tab. You can close a position or delete a pending order by clicking the small ‘x’ on the far right of the profit column.

Modify stops and limits on open positions

To modify stops or limits on open positions and pending orders, open the ‘terminal’ window (Ctrl + T) and navigate to the ‘trade’ tab. Right click on the position or pending order you’d like to edit, then select ‘modify or delete order’ to bring up the order window.

You will then have the option to modify or add stops and limits to your position. When you are finished, click the red ‘modify’ button to confirm your changes.

Customise MT4 charts

MT4 offers a range of tools you can use to customise charts. Here’s how to:

Draw on charts

MT4 includes a number of ‘objects’ you can use to draw on charts. From left to right on the below image:

  • Cursor
  • Crosshair
  • Draw vertical line
  • Draw horizontal line
  • Draw trendline
  • Draw equidistant channel
  • Draw Fibonacci retracement
  • Draw text
  • Draw text label
  • Arrows

To draw, simply select the object you want from the toolbar and click on the chart. The width and positioning of some objects is adjusted by moving your mouse as you click on the chart, while others open a separate window for customisation.

To edit or remove an object, right click on the chart then select ‘objects list’ from the menu. This will open a window that displays a list of all the active objects shown on the chart. Select your chosen object from the list then click ‘edit’ to customise the indicator settings or ‘delete’ to remove

Add indicators

You can add indicators such as RSI, stochastic oscillator and Bollinger bands to charts. Simply drag your chosen indicator from the ‘navigator’ window and drop it on top of a chart. This will usually open a window, where you can customise how the indicator is displayed.

Alternatively, you can add indicators to a selected price chart using the menu bar. Click ‘insert’ then ‘indicators’ and choose your chosen indicator from the drop-down menu.

To edit or remove an indicator that is displaying on a chart, right click within the chart window then select ‘indicators list’ from the menu. This will open a window that displays a list of all the active indicators shown on the chart. Select your chosen indicator from the list then click ‘edit’ to customise the indicator settings or ‘delete’ to remove.

Change timeframe

To change the timeframe of a price chart, simply right click on the chart, select ‘timeframe’, then choose your preferred option from the drop-down menu. Timeframes range from one minute to monthly.

You can also change the timeframe of a selected price chart using toolbar buttons. From left to right:

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