The Ultimate MetaTrader 4 User Guide

MetaTrader 4 is one of the most widely used free charting and trading platforms for independent Forex traders.

But just like anything else, it can take a little time to get up to speed with all of functions in the program.

This Metatrader 4 User Guide will teach you everything from the simplest functions to more complex, and even hidden MT4 hacks.

Even if you have been using MetaTrader for awhile, there are still some tips that you can learn to to save you time.

Get all of our MT4 tutorials on this page.

MetaTrader 4 Explained

MetaTrader 4, also known as MT4, is a software platform that allows independent traders to trade in the retail Forex markets.

Over the years, MT4 has been expanded so it can also place trades in other markets, such as in oil and indexes. The markets that are available will depend on the broker.

MetaTrader is owned and developed by MetaQuotes Ltd. It is not a brokerage, so they do not control any funds.

Brokerages like Oanda or Pepperstone purchase a license to use MT4 and provide the software to their customers. MT4 then connects to the liquidity providers of the broker and allows traders to place trades.

There are many advantages to using MT4, the first one being that the software is totally free for retail traders.

Another advantage is that there are many third-party plugins that can be added to MetaTrader 4 to expand its capabilities. MT4 is also very good for executing automated trading programs, also known as EAs or trading robots.

The biggest downside is that it primarily runs on Windows, so there can be issues when backing up MT4 or moving it to a new computer.

So-called “MT4 for Mac” packages do not run natively on Mac. They actually run on an emulator that simulates Windows functions on a Mac.

In addition, custom plugins cannot be installed on the mobile and web versions of MT4. Only the desktop version allows custom plugins.

We have collected all of our MetaTrader 4 tutorials on this page, so you can learn the powerful features and nuances of this popular software.

Charting

Using Profiles for Different Chart Setups

This tutorial will show you how to create different profile “pages” that can allow you to add more charts and separate your charts in to logical groups.

Flip Through Charts Quickly

Now that you know how to create profiles, here is how you quickly flip through those charts in your profile quickly so you can identify trading opportunities.

Retrieve a Deleted Chart

Oh crap!

Did you just accidentally delete a chart that you just spent 30 minutes setting up?

Not to fear, it is easy to get back, here's how.

Scroll a Chart Bar-By-Bar

This tip is useful if you want to do some manual back testing in MetaTrader 4.

This can help you get in some manual practice while you are waiting and keep you out of bad trades.

See the Current Chart in Full-Screen Mode

Is your current chart too small? Here's how you make it bigger.

Create a Blank Chart Template

Templates are an easy way to setup a chart once, then apply that set up to other charts with just a few clicks.

This tutorial will show you how to create an easy to read blank template for whenever you want to start fresh.

Get Back to the Current Bar Fast

Did you scroll too far back and the autoscroll is taking forever to update?

Then just do this one quick trick to get back to the current candlestick without wasting a second.

Indicators

See Exact Price Levels on Fibonacci Retracements

If you use the default Fibonacci tool in MetaTrader, then it can be hard to see what the exact price one of the retracement levels is at.

Using this simple technique that is built into MT, you can see the price of the levels you select, at a glance.

MT4 Indicator Installation Troubleshooting Guide

This guide will help you if you're having trouble installing custom MT4 indicators.

Keep in mind that this only works on MT4 desktop because you cannot install custom indicators on the mobile and web versions.

Get Our Custom Indicators

See our custom MT4 indicators here. We sell indicators that send alerts to your phone, so you don't miss trades.

We also have other highly requested indicators that help you streamline your trading process.

Get Free MT4 Indicators

You can get free MT4 indicators from the MetaQuotes codebase.

Most of them aren't very good, but they can serve as a template that you can use to code your own custom indicators. You can also get an idea of what's possible.

Expert Advisors

Get free MT4 Expert Advisors (EAs)

The MT4 Codebase provides free EA code. Again, most of the code is not usable for live trading, but looking through the codebase can help you see what's possible and even give you templates on how to code your own EAs.

Alerts

Setup Text Message Alerts

This technique for sending you indicator alerts uses the email address of your mobile phone and a custom indicator in MetaTrader 4 to alert you of trade setups.

It is a little out dated, given the method below, but it is the only way to do it in certain situations (such as if you don't have a smartphone).

Setup Push Notifications to the MT4 Mobile App

This will allow you to send alerts from your desktop to your mobile phone through the MetaTrader 4 app.

Easy to set up and more reliable than the text message method. Get the tutorial here.

Other MetaTrader 4 Tips

Install MetaTrader 4 on Linux

There isn't a native version of MT4 for Linux. But you can use MT4 on Linux by installing an emulator. Here's how to do it.

Resources

To visit the MetaQuotes website (the makers of MetaTrader), click here.

We do our best to keep up with software updates, but keep in mind that some tutorials can get out of date. If you do find a tutorial that doesn't work, feel free to contact us.