Metatrader 5 is a platform for making transactions with various financial assets. MT5 trader is hardly different from the previous version, so it will not be difficult for traders working with MT4 to deal with its functionality. However, the developers have made a few additions, thanks to which the market analysis will become even more convenient.
Using Metatrader 5 will not cause difficulties, because the program interface is intuitive. The main menu contains all the commands that are used to work.
The toolbar contains those elements that are used most often: file, insert graphics, service, and help.
We continue to analyze the main elements of the trading terminal:
- market review — this section contains the entire list of currency pairs and other instruments that are available for trading;
- navigator — the list will reflect all indicators, scripts, and added Expert Advisors;
- instruments —the tab is located at the bottom of the terminal window and includes 14 tabs;
- chart window — this tab occupies the main part of the screen in the center;
- menu with timeframes — there are several tabs at the top of the window that allows you to switch timeframes.
To adapt the terminal for the user’s needs, you can configure:
- candle colors;
- chart type (price fluctuations will be presented as bars, candlesticks, or a curve).
Using the Metatrader 5 trading terminal, you can work not only with Forex market instruments but also with products, cryptocurrency, and other assets. The set of tools provided to the trader is determined by the broker. Open charts are displayed in the “Market Review” window.
How to make trades in MT5?
The basic principle of concluding transactions has remained the same, and it is hardly different from MT4.
To open a trade, you have to follow these steps:
- Open the “View” tab, in which the “Market Review” button is found. An alternative way is to press the key combination Ctrl+M.
- Having found the desired trading instrument, double-click on it.
- In the appeared window, select the button “Buy” or “Sell”.
Another option is to use the one-click trading option. You can enable this feature in the main settings.
Graphical analysis in Metatrader 5
The MT5 program mostly used the same technical analysis tools as in the previous version.
At the same time, more test buttons, arrows, and labels are provided. Wave layout is included, thanks to which you can quickly identify extreme points on the chart.
How to save terminal settings and produce charts
Templates allow you to save time in the configuration of trade settings. To save a template, you need to access the context menu and select the desired tab. After that, you need to press the “Save”.
However, there are several features:
- when you first log in, you will need to enter the details of the account that is registered to the trader;
- the settings offer 2 types of price indication: reduced and full;
- it is possible to activate trading with one click;
- the developers have provided the option of “Market Depth”, but the small screen makes using this feature inconvenient;
- graphical objects and indicators are provided in the standard package.
This program has more advanced functionality than the previous version. At the same time, the developers have provided a friendly interface for the most user-friendly access.