intIntroduction to MT4 Trading with Axi
Course overview
1. What is MT4 and how do you access it?2. What are MT4’s main features?3. Available MT4 tools4. How do you trade on MT4?5. Conclusion3. Available MT4 tools
- Indicators: MT4 comes with a number of built-in indicators, which are accessed through the Navigator window (Ctrl+N). Indicators are used to perform efficient technical analysis of the prices of preferred financial assets.
- Expert Advisors: Expert advisors (EAs) are automated trading systems (trading robots) that monitor and trade financial markets using algorithms. They spot trading opportunities according to the parameters you set, then either notify you or open a position automatically. Traders can build their own custom EAs or modify existing ones and backtest their trading strategies in line with their trading requirements and risk tolerance.
- Charts: MT4 provides you with 3 important types of charts. Candlestick, Bar, and Line charts, all of which demonstrate price movements.
- In the candlestick chart, the white candlesticks are bullish (rising price), whereas the black candlesticks are bearish (falling price).
- Green in bar charts signifies bullish or buyer bars, implying that the closing price surpasses the opening price. Bearish or seller bars, denoted by red, signify a closing price that is lower than the opening price.
- Line charts show a more simplified version of the price action compared to the bar and candlestick charts. This is because they only display and connect the closing prices for specific periods.
Quiz
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