The MT4 platform is designed to make it easy for traders to trade. This means that placing trades on MT4 is a straightforward process. It usually involves two or three button clicks. It can also involve only one click If you so choose.
Horizontal and vertical lines are valuable objects in forex. They help traders make sense of market randomness. Horizontal lines show traders important support and resistance levels, whereas vertical lines help traders understand market cycles better. We will try to explain below how to identify where to draw those lines, how to draw them, and how to trade them.
Whenever you open a chart, you do not have to load individual indicators and set chart specifications. You can just load a pre-saved template. When a template is loaded into a chart, the stored settings will be attached to the new chart just as they were saved.
A template is a set of chart window settings that can be saved and opened later for quick application to other charts. Some of the parameters that can be saved in a template are chart type, chart color, the attached expert advisor and its parameters, custom or default indicators with their settings, chart scale, and period separators.
There are three main chart types: bar charts, candlestick charts, and line charts. The bar chart is a type of chart that was mostly used by technical analysts before candlestick charts passed them in popularity…
A crosshair is a valuable tool that is used to determine the date, time, as well as the price level of the selected section in a chart. It can also be used to determine the number of pips between two points.
Horizontal lines are mainly used to mark horizontal support and resistance areas on the chart, usually by connecting the price highs (resistance) or price lows (support). On MT4, vertical lines are mainly used to mark the date and time at which a candlestick has appeared.
I used to have a column on a DIY blog for home improvement projects. There were some small problems with people misreading my directions. Furniture collapsed. Plumbing caught fire. Buildings fell over. A few people died in ways my lawyer won't let me talk about.
Now I spend my time figuring out how to do all those things that experts are supposed to know. Then I make simple step-by-step guides to each one.
No one who's followed my advice about how to do things in their FX trading platform has been killed, yet. It's a perfect record and I'm very proud of it.