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Meta Trader Platform

The document discusses the MetaTrader trading platform, which is commonly used for forex trading. MetaTrader is provided for free by most regulated brokers and allows users to trade using Expert Advisors. The platform includes charting tools, different chart types like candlesticks and bars, and the Market Watch panel to view tradable assets. Expert Advisors can be used for algorithmic trading strategies based on historical price data visualized on the charts.

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pravendra singh
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63 views8 pages

Meta Trader Platform

The document discusses the MetaTrader trading platform, which is commonly used for forex trading. MetaTrader is provided for free by most regulated brokers and allows users to trade using Expert Advisors. The platform includes charting tools, different chart types like candlesticks and bars, and the Market Watch panel to view tradable assets. Expert Advisors can be used for algorithmic trading strategies based on historical price data visualized on the charts.

Uploaded by

pravendra singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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FOREX TRADING PLATFORM

FREE TRADING PLATFORM

META
TRADER
By Petko Aleksandrov
INTRODUCTION
METATRADER
MetaTrader is the most common platform in the Forex
market. It is provided by most of the regulated brokers,
and it is free for the clients.

The best thing — we can trade with Expert Advisors!

MetaTrader is similar to all trading platforms, so it will


be easy for you to start using it.

There is a web-version of the platform, but if you want


to use Expert Advisors, you will need to install it on
your computer
NOITAGIVAN
On the bar above the chart, you will find different drawing tools, zoom buttons, and time frames.

The assets are on the left side, in the box called Market Watch.

In the navigator tab, you have access to your Accounts, Expert Advisors, Indicators, and Scripts.
BARS CANDLESTICKS LINES

TYPES OF CHARTS
When you trade with Expert Advisors, it does not matter which chart type you use. The charts represent
the price combined with time. When the price moves, it forms different candlesticks or bars, and each
one represents a time period.

Traders use candlesticks and different pattern formations to analyze the market. The purpose is to
predict price movements.

In algorithmic trading, the candlesticks form the Historical data, and this is what we use to create our
strategies.
BAR CHART
The bars represent a certain period. If we are on the Daily
time frame, one bar is 24 hours. There are four values in
every bar:

High — the highest price reached during a 24 hour period


Close — the price at which the bar closed/finished
Open — the price at which the bar opened/started
Low — the lowest price reached during the 24 hour period

The bars are displayed with vertical and horizontal lines.

The vertical line illustrate "how big the bar" is. This is the
distance between the Low and the High. Normally this
value is measured in pips. The small horizontal line on the
left side shows the opening of the bar. The small horizontal
line on the right side shows the closing of the bar.
CANDLESTICK CHART
Very similar to the bar chart, we have the four values High,
Close, Open, and Low, but the difference is that the distance
between the Open and the Close is fulfilled. It is called the
body of the candlestick.

The Candlesticks are most popular because they show more


visually if the day is positive or negative.

You can see the exact values for the High, Close, Open, and
Low if you put the mouse on the closing of the bar (without
clicking). They will display in a small yellow box.
LINE CHART
The line chart is formed by connecting the Close points of
every bar. It shows just the direction of the price, and it is
not very useful for technical analyses.

However on a Daily chart we can have an idea what is the


direction of the price.
MARKET WATCH
In the Market Watch, we see the assets we can trade with
the broker. If you do not see many, right-click on any of the
assets and select Show All.

This will show you all assets provided by the broker.Two


columns are showing - the Bid and the Ask price.

When we buy an asset, we buy it on the Ask price, And


when we close the position, we will close it on the Bid price.
When we sell an asset,  we sell in on the Bid price. And
when we close the position, we will close it on the Ask price.

*When choosing a trading broker, especially for algorithmic


trading, look for the brokers with low spreads for the assets.

"If you want to monitor the Spread all the time, you can
right-click over any asset in the Market Watch and select
Spread.

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