Some of the lesser known advantages offered by MT 4

Metatrader 4 is undoubtedly one of the best if not the best trading platforms available in the market. Some of the obvious advantages offered by this platform are ease of use, freely availability and provision of demo accounts. But, these are only some of the properties of this platform. What really makes MT 4 an indispensable entity for forex trading is far above the ease of use and user friendly interface.

Inbuilt charts: MT 4 comes with charts that are integrated with the trading platform. What this essentially implies is that this platform not only shows current prices but it also shows trends in the markets. Using charts, the trader can infer as to where the markets are heading and what can be the potential levels for entry and exit. The trader can make use of various inbuilt technical indicators and oscillators. The indicators that are very much used by the traders are MA and RSI. But, the best part is yet to be mentioned. All the above applications are integrated in to 1 single window. The trader need not open different applications in different windows and get confused. This certainly saves a lot of time in searching different applications.
Ease of placing orders: To place a new order using this platform, all that you have to do is right click on the area and select ‘new order’. If you want to place orders at a particular price levels, you can set the price levels and the system can automatically show if there are any pending orders at those price levels.
2-in-1 software: There are many brokers that provide free trading platforms. But, if you want to access charts and other indicators, you have to pay for them. This is not the case with metatrader 4 platform. You can use each and every feature of this platform free of cost. There are no hidden costs. What this eventually means is that you are availing 2 software in just 1 one.
Customisable: MT 4 is customizable. This means that the trader can create his own indicators and scripts. He can select the features that he is comfortable with and discard others. He can make the software to suit his requirements.
Automation: One of the best features of metatrader 4 is that the user can create its own automated robots. These robots can carry out the transactions even without him being available in front of the screen. The trader can set the levels at which he wants to carry out the trade. Once the market reaches those levels, the trade is carried out automatically. MT 4 is encapsulated with a programming language called MQL which provides these features.