Then think again if you believe you know mt5. It is packed with powerful features which can completely transform your trading. Let’s explore the advanced charting and indicators that makes MT5 a favourite among Forex trader – recommended reading?
The first step is charting. MT5 charts are taken to a completely new level. Imagine that you have over 21 available timeframes. MT5 offers a wide range of features, from quick looks at minute-byminute trends to deeper dives into the monthly trend. The colors are amazing! Customize every aspect of charts, from background color to bullish or bearish candle colors. This is like creating your own Forex picture.
You have indicators. MT5 is packed with a large library of indicators. This includes more technical indicators than MT4. If you like classic indicators, such as Bollinger Bands and Moving Averages, but want to try out more exotic ones, like Ichimoku Kinko Hyo or Bollinger Ranges? MT5 will be your new playground. Not only that, but you can also create your own custom indicators. Custom indicators can be created if your strategy is different. This is similar to having a custom-made suit but for your trading strategies!
We’ll now move on to the main stars of the show, Expert Advisors. This is not your ordinary trading robot. MT5 EAs act as your personal trading assistants. They work hard to carry out your strategies. MQL5, MT5’s coding language, allows for endless possibilities. It’s possible to code, test, optimize, and backtest your EAs. This is like having your own mini-version making trades as you drink coffee.
MT5 provides a wide range of useful tools to the trader. Whether it’s charting, using EAs or indicators, MT5 will ensure you have the tools you need to succeed in trading. Take a look at these features to see your trading skills change.