EARLY TIPS USING METATRADER FOR NEWBIES
As traders become more familiar with the MT4 platform, they will find certain tips and tricks that help save time or that make a process easier. Here are a few to get traders started.Profiles
Traders have the option of saving chart groups: how the charts and different windows are arranged on the screen. The layout can be saved by clicking on the "Profiles" icon and selecting "Save Profile As." Many different Profiles can be saved, allowing traders a choice in how their screens appear. To access a Profile, click on the "Profiles" icon and select from the drop-down list. Several default profiles are included in the drop-down menu.Trendlines
Trendlines are drawn on charts primarily to help identify areas of support and resistance. Click on the "Trendline" icon to draw a trendline on the chart: click and drag to define the trendline, and then release the mouse button.Double-click on the trendline to make changes to it:
- Click and drag either end of the trendline to rotate.
- Click and drag the center box of the trendline to move the trendline to a different price level.
- Hold the keyboard's "Ctrl" button and click on the trendline to draw a parallel trendline.
- Right-click to open the "Trendline Properties" box to adjust the color and style and define other parameters.
- Right-click and select "Delete" to remove the trendline.
Crosshair Mode
The crosshair mode can be quickly accessed by clicking the middle mouse button. While the crosshair mode is in use, traders can move the crosshair over any price bar, or any part of a price bar, and the corresponding time and price values will be readily identifiable. Figure 20 illustrates this concept. The crosshair mode is useful when determining specific time and price values, such as when looking for a recent high or low, or when identifying when a bar printed. The crosshair mode can also be chosen by clicking the "Crosshair" icon in the toolbar.Crosshair mode makes it easy to find a price bar\'s high or low, and the time and day that the bar printed.