MT4 Navigator Window
The MetaTrader 4 Navigator panel is mainly used to navigate the most widely used areas of the MetaTrader 4 platform. These areas are:
- Accounts: Demo & Live Accounts
- Indicators
- Expert Advisors: A list of automated stock indices bots within this MetaTrader 4 software
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks in MT4
As a indices trader once you have selected the Navigator Button the following navigator window will appear on your MT4.
Stock Indices Trading Accounts Menu
The First menu option on the Navigator list is the Accounts tab. To view the accounts tab, you can click the expand button key (marked as +), & a list of your saved accounts will appear. Every time you login with a new account the details will be saved under this "Accounts Tab".
By double-clicking on any account you can activate the log in & login to that account. You can switch from one account to the other using this stock indices trading accounts tab.
The example explained and illustrated below shows two accounts recorded under this tab, a demo indices trading account marked as a green cartoon and a Live account marked as a indices cartoon. From this stock indices trading accounts tab, a indices trader can switch between any of this 2 accounts by double-clicking on any one of them.
Indicators, Expert Advisors, Custom Indicators and Scripts
- Indicators
- Expert Advisors: A list of automated stock indices bots within this MetaTrader 4 software
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks in MT4
The above are shown below on the screen-shot, to view more option under each of these, traders click the expand button key "+ button key", this will show more options, to hide, just click the "- button key". For examples the "Expert-Advisors" option below has been expanded.
These topics will be covered in more details later, but for now as a indices trader the following brief introduction about each will do.
Indicators: Indicators are technical analysis tools used in trading & placed on Stock Indices chart, these tools are used to generate buy and sell stock indices trade signals.
Expert Advisors: Automated Trading robots that are used to place trades by generating buy and sell stock indices signal automatically using programs which are coded using the MQL4 programming language.
Custom Trading Indicators: A custom indicator includes an indicator that you have modified or downloaded from the internet & then installed it on your MetaTrader 4 platform, this indicator will be listed here as a "custom indicator"
Scripts: This is a function used to perform a certain task, for examples if you open five trades & want to close all of them at once you can attach a "script close" on your chart thereby closing all open trades at once (However, you need to set up some setting on the MetaTrader to allow scripts execution trading, that's a topic for later.)
The Navigator will be one of your mainly used when trading, to access it using a short-cut, press 'Ctrl+N' button key on your key board to display or hide it.