The MetaTrader 4 software, often referred to as MT4, has plenty of options and novice users find themselves overwhelmed with the settings. If you've never traded with MetaTrader 4, it's basically a trading platform that opens up a window into the world of foreign exchange. While it's true that it takes some time to figure everything out, there are really only a few settings that you'll need to know to trade.
One of the most useful features is the ability to add indicators, expert advisors and templates to your trading window in MetaTrader 4. This is extremely valuable because there are thousands of MT4 users, as well as trading professionals and companies who share their configurations for free Egypt a for a small payment.
Trading indicators help the user recognise price patterns and aid in live trading. There are thousands of different indicators out there. Indicators can produce buy and sell signals visible on the charts. Within MT4 there are many built-in indicators but users can also install custom indicators. These are very popular among traders as they often show much more information than the standard built-in ones. Indicators can also become parts of an Expert Advisor.
Expert Advisors are built to automate trading. So if you've an indicator that shows buy and sell signals, an expert advisor would execute the trades on the signals. In addition, Expert Advisors have rules that define each trading position according to specific trading strategy…