The MetaTrader 4 platform is perfectly customizable, this is one of its advantages. However, the first thing we should do is know the different elements of the platform. For this we are going to divide it into sections. In this way we will be easier to understand.
Menu bar
This bar is at the top of the screen, is basically composed of the menu (nerve center in which all the options of the platform are controlled):
Top menu of the Metatrader 4 platform
From this option it is possible to perform the most basic tasks of the account and the platform. From opening a new graphic to requesting a new trading account, ... An interesting question is that the configurations with the customization of the interface can be saved in "User Profiles". A profile is a personalized workspace within MetaTrader 4. You can create different profiles and upload them as needed.
Watch
From this section you can configure the workspace, adding and removing buttons, bars, asset visualization (from the "Symbols" submenu) and other elements of the platform.
Insert
This menu gives us all the tools that a trader usually adds to the stock chart in order to develop their technical analysis. From it we can insert:
Technical indicators (ADX, Bollinger Bands, Stochastic, MACD, Moving Average, Parabolic SAR, ...). The indicators are based mainly on mathematical and statistical calculations.
Lines to draw trend guidelines (diagonals), supports and resistances (horizontal). In addition we can mark a temporary point in the graph by means of a diagonal line.
Channels; It is about two parallel lines.
Gann and Fibonacci analysis tools (such as retracements, fans, etc.)
Figures in the graph
Text tags
Andrew's analysis tools
...
Graphics
If the "View" menu was dedicated to the customization of the elements of the platform, this "Graphics" menu goes on the same line; only that, as its name indicates, it is oriented to the configuration and personalization of stock charts.
Actions such as establishing the type of graph (candles, bars, lines), colors, putting elements such as the background grid, selection of the time period, zoom, etc. they are controlled from this menu.
From the submenus "List of Indicators" and "Objects" we can visualize, insert and eliminate all the technical indicators and other elements (such as lines or technical analysis notes) that are inserted in a certain graphic.
An interesting question is that we can save templates with a certain graphic configuration. In this way, when the trader has certain indicators, a certain temporality or other elements belonging to a specific trading strategy, he only has to access the "Template" submenu. From there there is a drop down to save, upload and manage everything related to the templates. There are also pre-configured templates.
Let's stop for a moment to explain 2 important topics that we can control from this menu (especially for beginners who do not yet have trading experience):
- The Time Period (also known as Temporal Frame or Time Frame): It allows us to adjust the graphic representation to a shorter or longer time frame. In MetaTrader 4 we can select M1 (1 minute), M5 (5 minutes), M15 (15 minutes), M30 (30 minutes), H1 (1 hour), H4 (4 hours), D1 (1 day), W1 (1) week) or MN (1 month). The graphs of time frames such as 1 day or 1 week offer us a broad temporal perspective that will allow us to analyze the behavior of the price and trends from the medium and long term but they do not help us to analyze correctly what is happening in this same instant to be able to operate in the short term, something that can be helped by the lower time frames, for example, 1 minute, 15 minutes, 30 minutes or 1 hour. Each trader must choose to work with one or several time frames determined according to their profile and their own trading strategy. More Info: What is the appropriate Time Frame when doing Trading?
- The Type of Graph: We can select among several types offered by the MetaTrader 4 trading platform (bars, candles, lines). Those who usually use most traders are Line or Vela (Japanese Candles).
Menu bar
This bar is at the top of the screen, is basically composed of the menu (nerve center in which all the options of the platform are controlled):
Top menu of the Metatrader 4 platform
From this option it is possible to perform the most basic tasks of the account and the platform. From opening a new graphic to requesting a new trading account, ... An interesting question is that the configurations with the customization of the interface can be saved in "User Profiles". A profile is a personalized workspace within MetaTrader 4. You can create different profiles and upload them as needed.
Watch
From this section you can configure the workspace, adding and removing buttons, bars, asset visualization (from the "Symbols" submenu) and other elements of the platform.
Insert
This menu gives us all the tools that a trader usually adds to the stock chart in order to develop their technical analysis. From it we can insert:
Technical indicators (ADX, Bollinger Bands, Stochastic, MACD, Moving Average, Parabolic SAR, ...). The indicators are based mainly on mathematical and statistical calculations.
Lines to draw trend guidelines (diagonals), supports and resistances (horizontal). In addition we can mark a temporary point in the graph by means of a diagonal line.
Channels; It is about two parallel lines.
Gann and Fibonacci analysis tools (such as retracements, fans, etc.)
Figures in the graph
Text tags
Andrew's analysis tools
...
Graphics
If the "View" menu was dedicated to the customization of the elements of the platform, this "Graphics" menu goes on the same line; only that, as its name indicates, it is oriented to the configuration and personalization of stock charts.
Actions such as establishing the type of graph (candles, bars, lines), colors, putting elements such as the background grid, selection of the time period, zoom, etc. they are controlled from this menu.
From the submenus "List of Indicators" and "Objects" we can visualize, insert and eliminate all the technical indicators and other elements (such as lines or technical analysis notes) that are inserted in a certain graphic.
An interesting question is that we can save templates with a certain graphic configuration. In this way, when the trader has certain indicators, a certain temporality or other elements belonging to a specific trading strategy, he only has to access the "Template" submenu. From there there is a drop down to save, upload and manage everything related to the templates. There are also pre-configured templates.
Let's stop for a moment to explain 2 important topics that we can control from this menu (especially for beginners who do not yet have trading experience):
- The Time Period (also known as Temporal Frame or Time Frame): It allows us to adjust the graphic representation to a shorter or longer time frame. In MetaTrader 4 we can select M1 (1 minute), M5 (5 minutes), M15 (15 minutes), M30 (30 minutes), H1 (1 hour), H4 (4 hours), D1 (1 day), W1 (1) week) or MN (1 month). The graphs of time frames such as 1 day or 1 week offer us a broad temporal perspective that will allow us to analyze the behavior of the price and trends from the medium and long term but they do not help us to analyze correctly what is happening in this same instant to be able to operate in the short term, something that can be helped by the lower time frames, for example, 1 minute, 15 minutes, 30 minutes or 1 hour. Each trader must choose to work with one or several time frames determined according to their profile and their own trading strategy. More Info: What is the appropriate Time Frame when doing Trading?
- The Type of Graph: We can select among several types offered by the MetaTrader 4 trading platform (bars, candles, lines). Those who usually use most traders are Line or Vela (Japanese Candles).
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