MT5 charts are both well known and extremely popular for Forex traders.
What makes MT5 charts different from other platforms is its advanced technology as well as enhanced security so traders can open, close and manage positions without worrying about malfunctions that can seriously affect trade execution and management.
If you are looking for a charting platform that can offer a huge amount of markets, can be used with a large variety of strategies and systems, but is also free to use; then MT5 is for you.
NOTE: Get Your Free Metatrader 5 Tutorial PDF Download Below.
Table of Contents
What is MetaTrader 5?
MetaTrader 5 is a multi-asset platform that is used for trading Forex, exchange instruments, and futures. It has an advanced trading function, as well as tools needed for both technical and fundamental analysis.
MetaTrader 5 also lets you enjoy your freedom by letting you automatically trade with the help of trading robots and trading signals. MetaTrader 5 also comes with a freelance database of strategy developers, copy trading, and a virtual hosting service (Forex VPS).
You can stay active trading anytime and anywhere as it is also accessible to a wide variety of devices such as personal computers, smartphones, and tablet.
Why Use MT5 Charts?
With MetaTrader 5, you can take advantage of many advanced market situations.
You can also follow instrument price fluctuations and examine charts and graphs while locating your planned trades. MetaTrader 5 supports 3 graphs: Candlestick, Heikin Ashi, and Renko Charts.
The MT5 trading system also gives you an advanced market depth feature, separate accounting of orders and trades, the support of all types of trading orders and execution modes.
Two order accounting modes are also provided in the platform: netting mode for exchange market and hedging mode for Forex trading.
As an inbuilt feature MT5 offers a one-click trading option where users can buy and sell currency pairs, equities, and futures with just a click. You can also minimize losses and maximize profits with the easy to use stop loss and take profit options.
Best of all MT5 is free to download and free to use for all, and you can get a Free MT5 Charts Download here.
Metatrader 5 Advantages
Flexible Investment Strategies
You can place 8 types of postponed or pending orders. These include; buy limit, buy stop, sell limit, sell stop, buy stop limit, sell stop limit, stop limit, stop loss and take profit.
MetaTrader 5 offers 21 time periods. You will find time frames that MT4 does not have inbuilt such as the 2 hour charts. Investors can now benefit from technical analysis that is much more accurate with more options.
Optimized Strategy Tester
Better testing of the expert system and much more detailed results. This gives far more opportunities for more precise selection of investment strategies.
Advanced Economic Calendar
Shows a number of economic events, economic data, and indicators by day and hour of the respective week. This advantage provides easier and more accurate market monitoring.
The One Click Trading
Innovated market watch window which enables you to open a position with just a single click.
You can access MT5 on any mobile device, making access quick and easy for traders.
MetaTrader 5 shows an aggregated view of the quotations and the pending orders from the liquidity supplier.
Clear segregation between the terms Order, Transaction, and Position.
FREE For All To Use
This is a big one. MT5 is free to download and use for all. Get a free MT5 Download and start using it here.
Who Uses MetaTrader 5 Charts
The MetaTrader 5 platform is used by millions of traders around the world. In fact, the traders who use this platform are attracted by its exceptional advantages and ease of use.
MetaTrader has created one of the largest community of traders where traders share free trading robots, you can subscribe to trade signals, copy deals of successful traders, discuss trading strategies and much more.
How to Use MetaTrader 5
The platform is designed for trading currencies, stocks, futures and other popular instruments on financial markets.
All available trading symbols are located at the market watch window from which traders can select the required instruments as can be seen below;
- The image below shows the window providing monitoring of current quotes.
- Options for one-click trading
- Access to tick data.
- How to open a chart of any symbol directly from the market watch.
Trading Strategies on MT5 Charts
As mentioned before, the platform supports both position accounting systems – netting and hedging.
With the netting system, the trader will be able to open only one position of a financial instrument at a time.
This is traditionally adopted on exchange markets. Correspondingly, the hedging system lets you open multiple financial instruments in the opposite or same direction.
With this type of account, it is possible to run multiple strategies while trading the same financial asset, as well as performing a trading operation using several trading robots at the same time.
With the wide functionality of the platform, you can implement different strategies while performing trading operations at current market prices or use pending orders with your preferred lifetime, positioning opening levels, stop loss, take profit and a comment can be specified in a trade request created in the trading charts.
- MetaTrader 5 also includes dozens of inbuilt indicators, lines, and channels that can be used for your technical analysis.
- The platform also contains additional analytical instruments such as Gann, Fibonacci and Elliot tools, as well as graphical objects.
- With the wide visualization options, you can enable operations with pending orders directly on a chart, including creation and deletion of pending orders, as well as modification of stop loss and take profit.
- You can easily understand the market pulse from the extended depth of market window, where you can also perform trading operations.
- Besides the extended depth of market window is the quick trading panel where you can perform financial operations with a single click.
- In the navigator window, users can switch between trading accounts and run scripts, indicators or trading robots.
- In the trade tab of the toolbox window, you can find all open positions and orders.
- You can visually asses the account’s current state on the exposure tab.
- You can view information about all executed trades and request a report for analysis on the history tab.
- The news, mailbox, calendar and company tab, provides information delivered by your broker to keep you up to date with upcoming important events in detail.
- The following three tabs display additional trading services.
- Next to it is the code base tab where you can find over 6 thousand trading robots and technical indicators which can be downloaded and used for free.
- The markets tab features thousands of trading and analytical applications, which is available for purchase or rent.
- The signal tab displays trading accounts which can be monitored online.
- You can select a signal provider straight from the platform and subscribe to a signal then start copy trading.
You do not need to perform trading operations because your platform will automatically copy deals of a selected signal provider
You can make a profit by selling your own trading signals. Register your account in the service as a signal, set your price and continue to trade. Your signals will be available for subscription.
Traders can now copy your deals, and you will receive the fixed monthly income from your subscribers.
From the platform, you can also rent a virtual server in just a few clicks for automated trading on your accounts.
Select a hosting site with minimal latency, choose a rental period and pay using your preferred payment method.
The virtual platform provides a convenient way for you to trade with your robots and copied signals.
This is much easier than renting a virtual private server (VPS) from a third-party provider.
Another service you can find on the platform is freelance. From the platform, you can proceed to order a trading application from a professional software developer.
MetaTrader 5 is one of the most user-friendly platforms that is available to everyone and it is free.
It is also one of the most advanced and innovative trading platforms.
You will find it far easier to install, compile codes, use the interface, and align a variety of trading methods than you will compared to most other trading platforms on the market, which is why it is so popular with brokers and traders alike.