MT5 Introduction and Functional Overview

What is MetaTrader 5？

MetaTrader 5 (MT5) is a platform that allows you to trade Stocks, CFDs, Forex, and Futures. With MT5, traders can use algorithmic trading applications to automate trades, including trading robots and Expert Advisors (EA). You can build your own EAs or import built-in EAs onto the MT5 platform.

Here are other features of MT5:

Multiple open positions

Accurate technical and fundamental analysis

Up to 100 Stock quotes and currency charts

21 different timeframes

Top features of MetaTrader 5

Predicts market direction

MT5 offers multiple analytical tools for comprehensive price analysis and forecasting. It has 38 technical and 39 graphical indicators to understand the market movement and direction better, apart from 80 built-in analytical indicators.

Supports the advanced Market Depth feature

MT5 features Market Depth, enabling you to see the best bids and offers for a particular asset. It tells you the security's market liquidity, and the number of standing buy and sell orders at different price levels. A greater market depth means that the chances of significant trades getting affected by minor price movements are lower.

Accurate fundamental and technical analysis

MT5 offers several advanced tools for fundamental and technical analysis. MT5 also provides inbuilt advanced reports for analysing trading activities quickly. The reports can track initial and final values of the instruments. It can also forecast price movements with minimal deviation.

Automated trading

With automated trading, MT5 can trade positions on your behalf and execute trades even when your machine is off. By using the power of automation, MT5 allows you to process extensive information and multiple orders quicker with little to no intervention from your end.

Top MetaTrader 5 Indicators

Trend Indicators

Trend indicators are used to identify trends in the markets and could help forecast future prices.

Envelopes

An Envelope is formed by two Moving Averages, one shifting upward and the other shifting downward. This trend indicator shows the lower and upper margins of a security's price range.

Moving Average

The Moving Average trend indicator indicates the mean price value of the security in a specific time.

Standard Deviation

Standard Deviation depicts the market volatility value of the security. It shows the price movement fluctuations. If its value is high, the market is volatile.

Bollinger Bands

Bollinger Bands are trend indicators that showcase the market price volatility of a security over a period. The bands widen when the market is volatile and contract when it is less volatile.

Average Directional Movement Index (ADX)

The ADX technical indicator helps identify an existing price trend over a period. It helps eliminate false signals to ensure that only significant price movements are considered.

Oscillator indicators

Oscillator indicators depict the price deviation of the security from its average price value. It helps predict potential trend direction in the market.

Average True Range (ATR)

The ATR indicator shows the market's volatility. A higher ATR value could mean that a trend reversal will come soon.

Williams Percent Range (Williams %R)

Williams %R helps identify if an asset is overbought or oversold. When it shows a value between 80% to 100%, it indicates an oversold market. When the values are between 0% to 20%, it shows an overbought market.

Momentum

The Momentum indicator measures the price changes of a security over a certain period. It can be used in confluence with the Moving Average Convergence Divergence. The Momentum sends a buy signal if it increases, while a sell signal is sent if it decreases.

DeMarker

The DeMarker indicator compares the maximum price of the current period with the maximum price of the previous period. When it falls below 30, it sends a bullish reversal trend signal. If it goes beyond 70, it sends a bearish reversal trend signal.

Commodity Channel Index (CCI)

CCI measures the commodity price's deviation from its average price. When the commodity channel price is higher than the average price, it sends a high price signal. Whereas a low price signal is sent vice versa.

Volume indicators

Volume indicators account for the volume of the trade. This can mean the number of trades executed in a specific period or the number of price movements in a particular time interval.

Volume

Volume indicates the number of price movements within a period. It consists of a green bar, which is the current bar's volume being more than the previous one, and it has a red bar, which means a smaller volume of trade than the previous one.

On Balance Volume (OBV)

This indicator relates volume to the price change of a security. If the security's price is greater than the OBV movement, it indicates a bull market. A bearish market is suggested if it is lower than the security price.

Money Flow Index (MFI)

MFI measures the buying and selling pressure of an asset through price and volume. It also measures the flow of money in and out of an asset over a certain period.

Accumulation and Distribution (A/D)

A/D is calculated through the changes in volume and prices of a security. When it increases in value, it sends a buy signal and vice versa.

Bill Williams indicators

These indicators are part of the trading system developed by the American trader and author of books in trading psychology, Bill Williams.

Fractals

A fractal helps detect the market's highest and lowest price movements. An upwards fractal is made of five bars, where two are before and after the highest maximum point of a market. The lowest low is defined by the lowest bar in the middle of the two higher lows before and after the lowest low bar.

Awesome Oscillator

The awesome oscillator indicator measures the market momentum with a 34-period Moving Average. When the histogram is above zero, it sends a buy signal. When the histogram is below zero, it sends a sell signal.

Market Facilitation Index

This indicator shows the change in prices of a security. When it moves in the same direction as the volume, it indicates that the price movements have picked up speed. When the two move in opposite directions, it suggests that there is confusion between buyers and sellers.

Gator Oscillator

Gator sho

ws the degree of convergence and divergence in the market. It is indicated by a histogram that plots the distance between the red and green averages. Contracting red bars refers to a slowing trend while expanding green bars indicates that the trend is gaining strength.

Williams Alligator

This indicator uses three Moving Averages of 5, 8 and 13 periods. The Williams Alligator identifies sudden trends using smoothed Moving Averages.

How do you trade on MT5？

Download the MT5 platform on your device and log into your account with the credentials you used to sign up.

Open your first position on the Order window. You can choose from multiple order and execution types or let the system place orders on your behalf.

Monitor your positions. You can do this on the Terminal window.

Modify stops, limits, and orders as per your trading objectives through the Terminal window.

Customize charts, indicators, and set up price alerts that update you on market prices.

View trade history from your Terminal window and download trade reports with detailed information on your trades and account summary.

Getting Started with MT5: Download and Installation

Download: Visit the official MetaTrader website or your brokers website to download MT5. Many brokers offer a specific MT5 download link compatible with their server.

Installation: Run the downloaded file and follow the setup instructions to install MT5 on your computer or device. The MT5 platform is available on Windows, Mac, Android, and iOS.

Login: After installation, use your broker-provided credentials to log into your MT5 account.

MT5 allows you to customize historical data and chart settings. However, your download history may be limited by chart settings based on your preferences and broker settings, so adjusting the chart timeframes and history depth may help access more data.

MT5 Brokers and Account Types

MT5 Brokers: Many brokers support MT5, offering access to forex, stocks, and futures markets.

MT5 Futures Brokers: If youre interested in trading futures, ensure the broker supports MT5 for futures specifically.

Best MT4 Brokers in the USA: Although MT5 offers enhanced features over MT4, some traders still prefer MT4. Many top brokers in the USA offer MT4, such as IG and OANDA, which provide robust platforms for forex and futures.

MT5 Account Types: Brokers generally offer different account types on MT5, including standard, mini, and demo accounts. Check with your broker for account details, as each has specific features, leverage, and minimum deposits.

Basics of Trading Forex on MT5

Setting Up Charts: After logging in, you can set up various chart timeframes, use built-in indicators, or add custom indicators.

Placing Trades: Choose the currency pair you want to trade, decide your lot size, and use the “Buy” or “Sell” button. MT5 offers advanced order types, like “Stop Loss” and “Take Profit.”

Automated Trading: MT5 supports automated trading through Expert Advisors (EAs). You can create or download EAs to trade based on your preferred strategies.

Is MT5 Trading Safe？

Trading on MT5 is generally considered safe, provided you use a reputable broker regulated by authorities such as the SEC in the USA or the FCA in the UK. MT5 incorporates security features such as data encryption and two-factor authentication, adding layers of protection.

How to Use MetaTrader 4

Download and Login: Download MT4 from your brokers website, install it, and log in with your account credentials.

Using the Interface: MT4 has a straightforward interface, allowing you to open charts, use technical indicators, and manage your trading accounts.

Demo Accounts: A forex demo account on MT4 is perfect for beginners to practice strategies without risking real money.

MT5 for MacBook and Mobile Devices

Using a Windows Emulator: Install a Windows emulator like Wine or PlayOnMac to run MT5 on your MacBook.

MT5 Web Platform: This browser-based version can run on any OS without installation, ideal for Mac users.

Mobile Apps: MT5 has fully functional mobile apps for iOS and Android, enabling you to trade on the go.

How to Open a Free MT5 Demo Account for Crypto

Choose a Broker: Select a broker that supports crypto trading on MT5. Many brokers offer free demo accounts for practicing.

Open a Demo Account: Go to the broker‘s website and sign up for a free demo account. After registration, you’ll receive login details.

Login to MT5: Use your demo account credentials to log in on MT5. Youll have virtual funds to practice crypto trading risk-free.

MT5 Customer Support

Most brokers offer 24/7 customer support for MT5 issues. MetaTrader itself also has extensive resources, including tutorials and community forums. For complex issues, reaching out to your broker's support team is often the best approach, especially for account-related inquiries or platform technicalities.

MetaTrader 5 (MT5) and MetaTrader 4 (MT4) are two of the most widely used trading platforms for forex, stocks, and other financial instruments. With a range of tools and features, these platforms cater to traders of all levels. Heres a look at the key features, tools, and comparisons between MT5 and MT4, as well as guidance on mobile trading, auto trading, and using the platforms on different operating systems.

MT5 Features & Tools

Expanded Timeframes: MT5 provides more charting timeframes compared to MT4, with 21 timeframes in total. This allows for more detailed market analysis across various periods.

Depth of Market (DOM): This feature provides insights into market liquidity, having MT5 especially beneficial for those trading stocks and commodities.

Advanced Indicators and Expert Advisors (EAs): MT5 supports more complex technical indicators and EAs, allowing traders to automate strategies and backtest trading methods using the Strategy Tester.

MetaTrader Web and Auto Trading

For those looking to trade on the go or without downloading software, MetaTrader Web offers browser-based trading for both MT4 and MT5. This feature lets you access your account from any device with internet access, having it highly convenient.

Auto Trading: Both MT4 and MT5 allow automated trading through Expert Advisors (EAs). These EAs execute trades based on preset parameters, which can be especially useful for day traders or anyone looking to eliminate emotional decision-having.

MetaTrader for Mac OS X

Wine or PlayOnMac: These emulators allow you to run Windows applications on a Mac, having it possible to use MetaTrader without a Windows OS.

Web Trader: Alternatively, the MetaTrader Web platform works seamlessly on Mac, providing nearly all desktop functionality without installation.

MT4 vs. MT5: Comparing Platforms

Many traders wonder whether to use MT4 or MT5. Heres a quick comparison of these platforms:

Timeframes and Order Types: MT5 offers more timeframes and order types (e.g., Buy Stop Limit, Sell Stop Limit) compared to MT4.

Market Support: MT5 was designed with more asset classes in mind, including stocks, futures, and commodities, whereas MT4 is primarily focused on forex trading.

Indicators & Expert Advisors: MT5 supports more advanced indicators and has an integrated EA system that many traders find superior to MT4s version.

Lot Size Calculator in MT4

Understanding lot size is essential for managing risk, and MT4 includes various calculators to help with this. A lot size calculator can be used to calculate position size based on account balance and risk tolerance. This tool is especially useful for new traders, as it helps in setting appropriate position sizes to avoid over-leveraging.

MT5 Mobile Trading and MetaTrader 5 App

For traders who prefer mobile trading, the MT5 mobile app is available on both iOS and Android. This app offers a streamlined experience, allowing you to place trades, monitor charts, and use indicators. Its a great solution for traders who need to stay connected to the markets on the go.

MetaTrader 4 iOS and MT4 Android: These mobile versions of MT4 offer similar functionality, allowing you to trade forex, manage positions, and view real-time quotes. Both MT4 and MT5 apps are known for their intuitive interfaces and essential trading features.

Downloading OANDAs MetaTrader Platforms

OANDA is a well-regarded broker that supports both MT4 and MT5, offering customized versions for their clients:

OANDA MetaTrader 4 and 5 Downloads: To download, simply visit OANDAs official website. Both platforms come with pre-loaded indicators and the option to add more for a tailored trading experience.

Forex Web Trader

For traders who prefer not to install software, Forex Web Trader platforms offer a browser-based alternative that supports most of the features available in desktop applications. MetaTraders web version provides access to all essential tools, indicators, and charting capabilities and is compatible with various devices, including MacBooks and Chromebooks.

Trading Software for Mac

If youre looking for more trading software options for Mac, consider some alternatives to MetaTrader, such as TradingView, cTrader, and NinjaTrader. Each of these offers Mac compatibility with unique tools, charting capabilities, and community features for trading insights.

MT5 Indicators & Expert Advisors (EAs)

One of MT5s standout features is its support for sophisticated indicators and **Expert Advisors**. These tools allow traders to customize their trading strategies, create alerts, and automate trading based on specific parameters. You can either download free and paid indicators from the MetaTrader Market or develop your own with MetaQuotes Language 5 (MQL5).

MT5 Trading Strategies and Competitor Comparison

MT5 supports a wide range of trading strategies, including scalping, swing trading, and algorithmic trading. Compared to competitors like cTrader and TradingView, MT5 excels in algorithmic trading capabilities and integration with brokers.