How to use indicators in MetaTrader4 trading platform

MetaTrader 4 indicators are key technical analysis tools that can help you identify market trends and confirm or reject your forecasts of future price movements. Using indicators can also help you get in or out of a position at the right moment.

In this video, we will show you:

  • how to add an indicator to the chart 
  • how to configure the selected indicator
  • market analysis on the example of a trend indicator - average

Which indicator to choose when trading?

Indicators are divided into several types, depending on their purpose:

  • trend indicators that allow you to identify the current direction of movement (moving averages, Bollinger bands)
  • oscillators, determining the strength of the trend and the momentum of movement (stochastic oscillator, RSI, MACD)
  • volume indicators that allow you to indicate the phase of a trend.

How to Install the indicator

The implementation of the indicator on a given chart window is very simple. Just click "Insert" -> "Indicators" and choose the indicator you are interested in. Depending on the selection made, a window will appear on the screen in which you will be able to configure the indicator both visually (line thickness, color) and also technically (interval, deviation, etc.)

Depending on the offer of the selected broker, the number of available indicators may vary. You can find the list of installed indicators by selecting the "navigator" window and then clicking on the "indicators" tab.

If you don't find the indicator that suits you, you can search the web. Once you find it, just click "File" -> "Open Data Folder" -> "MQL" and then copy the external indicator in .ex4 format to the "Indicators" folder.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.60 % of retail investors lose their capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.