Introduction to MetaTrader 4 Platform Interface
The following screenshot below shows the main MetaTrader 4 software inter-face. As a beginner trader trying to learn how to execute orders in the online stock index market, the main tool for trading the stock indices market is the MetaTrader 4 software software. This MT4 software is the software which you will connect to your indices broker with & execute trade transactions & monitor your indices account balance from this MT4 platform.
The Stock Indices MT4 software software is provided for free through the various broker web sites. This MetaTrader 4 platform looks like the stock index trading examples explained below:
Main Areas of this MT4 platform as displayed above are:
- MetaTrader 4 Navigation Menus
- Toolbars
- MT4 Indices Chart Window
- MT4 Navigator Window Panel
- MT4 Market Watch Window
- MT4 Terminal
- MT4 Connection Bars
For this MT4 tutorial we shall look at a brief introduction for each of these learn MT4 software:
1. Navigation Menus
The MetaTrader 4 navigation menus are:
- File
- View
- Insert
- Charts
- Tools
- Window
- Help
These are the main MetaTrader 4 navigation menus which can be used to navigate the MT4 software. As a beginner trader you can start by clicking any of these MetaTrader 4 navigation menus so as to familiarize yourself with the various MetaTrader 4 buttons which are arranged as MetaTrader 4 sub-menus within these MetaTrader 4 navigation menus.
These MetaTrader 4 navigation menus will be described and covered in details in the next MT4 guides about navigation menus.
2. Toolbars
The MT4 tool bars are used to manipulate MetaTrader 4 charts, either by placing MetaTrader 4 indicators, MetaTrader 4 line studies, change MetaTrader 4 chart timeframes and load MetaTrader 4 template from a list of saved MetaTrader 4 templates.
These MT4 toolbars will be discussed on other MT4 tutorials which will outline each MetaTrader 4 button on this MT4 tool-bar & how to add & customize these MT4 tool-bars.
3. Chart Window Panel
This MT4 chart window is the main area where MetaTrader 4 charts are displayed and a trader can analyze the trend direction of a MetaTrader 4 chart whether up or down, place MetaTrader 4 chart indicators for technical analysis & even place orders from these MetaTrader 4 charts.
4. Navigator
MT4 Navigator will contain data about MetaTrader 4 accounts, whether practice or real, this MetaTrader 4 window panel will also have a list of all MT4 indicators as well as MetaTrader 4 Indices Expert Advisors & scripts.
A trader can select which MetaTrader 4 stock index account to sign in by expanding the Accounts menu, choose a MetaTrader 4 indicator by expanding the MetaTrader 4 indicator menu or choose an MetaTrader 4 Indices Expert Advisor by expanding the Expert Advisor menu.
5. Market Watch
MT4 Market watch is used to show streaming price quotes for MetaTrader 4 indices trading instruments. This can list as many quotes provided by your MetaTrader 4 broker or a few chosen by a trader. To save internet bandwidth, right click inside the MetaTrader 4 market watch window and select "Hide All", so as to hide the MetaTrader 4 symbols that you are not transacting on this MetaTrader 4 platform and save on inter-net band width.
6. Terminal
This is MetaTrader 4 window that's like the bank account trade area for your MT4 indices trade transactions, on this MT4 window panel you can view your trading account balance, profit and losses statement, equity, margin used also retrieve a copy of all your MT4 indices trade transactions history.
This MT4 window panel will also list all open trade transactions & calculate all the profit & loss in real-time as the charts move up or down.
7. Connection Bar
MetaTrader 4 connection bars - Red bars are for no connectivity, green bars show that there's connection to the servers and MT4 indices trade orders can be placed. These MetaTrader 4 connection bars should always be green when one logged into their MT4 demo indices account or MT4 live account.
These MT4 platform main areas form the MT4 software interface & will be the main areas to be covered in detail in next learn MetaTrader 4 tutorials. For now it is best to download MetaTrader 4 platform software & familiarize yourself with the MT4 platform interface.
Why Indices Software is Required for Placing Indices Trading Transactions with Brokers
Indices platform is software that is used to access the stock indices market & interpret these price movements using charts and technical analysis tools. There are various reasons why a trader requires to use a good indices platform. A good indices software can determine if a as a trader you make profit or not.
So why does a trader need a good Stock Indices Software:
To connect to the Broker Trading Server:
To place a indices trade order one needs to use a indices software which will connect to the trading servers of their broker & this will allow them to open & close indices trade orders. Good indices platforms will connect with ease to the brokers' servers & allow traders to place stock index orders at any time from their desktop computer PC.
To analyze charts using technical analysis tools
To place a buy or sell order a trader needs to first interpret the direction of indices using charts. This is why all good indices trading softwares provide stock indices trading technical tools such as price charts, indicators and various different chart time-frames from which one-can analyze price moves using the chart timeframes of their choice.
From the above indices platform inter-face, summary of all data required by a trader is provided on this MetaTrader 4 platform interface
- Connection - connection to the broker servers
- Charts - price graphs that display prices
- Toolbars - toolbars to add tools & technical analysis indicators on charts
- Market Watch - for displaying available financial instruments in MT4
- Data window - provides MetaTrader 4 indices account data & other indicator data
- Exchange rates - shows current market price on a chart
- Menu bar - Shows all menu items in MT4 platform
