MetaTrader is a brand name that commands respect and means convenience in forex trading software market. Its latest version is the MetaTrader 5 app for iOS. The interface and design are along the lines of MetaTrader 4, which was highly efficient, maintaining the flexibility and ease of usage for which this software is known.
Managing multiple accounts got all the more easy with MetaTrader 5 with the new ‘accounts’ window in its ‘Navigator’ to make switching between various accounts extremely easy and quick. You can use different strategies for your different accounts, doing away with any trouble or delay. This makes the response to unprecedented market events rapid. This feature is a pleasure for both active traders and investors both.
The focus of the interface is mainly on a main window that simultaneously displays numerous graphs of the action of forex prices, or focused on to a large panel for easy and convenient trading. A few of the icons and buttons found in MetaTrader 4 are not available in MetaTrader 5 on the top of its panel. This feature is expected to be implemented again soon once the software is out of the Beta mode.
In addition to the already existing collection of technically analyzed indicators available on MetaTrader 4, MetaTrader 5 has many new indicators. The indicators have also been grouped into four categories namely ‘Bill Williams’, ‘Trend’, ‘Volumes’ and ‘Oscillators’. There is a fifth category for custom indicators where the traders can store their developed or imported items. This system of grouping is beneficial in that it makes it simpler to handle the analytical tools, so as to make access faster and easier.
Besides those of MetaTrader 4, there are some new trend indicators including Adaptive MA, Variable Index Dynamic Average, The Fractal Adaptive MA, Triple and Double Exponential Moving Averages, Variable Index dynamic Average. The double exponential moving average or DEMA is an advanced tool having less lag and much grater accuracy as compared to the simple EMA. Its signals are emitted taking an n-period EMA of the EMAs, giving it a title of double EMA. The triple exponential moving average or TEMA is all the more accurate and free from lag compared to DEMA. These moving averages are employed in analyzing trends just like the common exponential averages are used to suit this purpose.
The new category called ‘Bill Williams’ has a market facilitation indexes. Its signals are emitted based on piece, indicator and volumes. There are totally seven new indicators, with 5 new excellent trend indicators. The DEMA and TEMA is a great asset to the MetaTrader toolbox, promising new ways of trading and analyzing.
For auto-trading lovers, MetaTrader 5 has advanced trading scripts and expert advisors. A larger number of errors and bugs have been fixed from its previous version; the language has been made condensed and improved to give you a more user-friendly experience. The chart-in-chart premade style is supported by Expert Advisor, allowing for deep analysis of the technical strategies on test.
MetaTrader 5 has all the great features of MetaTrader 4, with better context and a more meticulous outlay for better efficiency. The simplicity and order that MetaTrader has been associated with has been preserved. This software comes in ten different languages for better access all across the globe. A ‘Crosshair’ mode has also been added to make the viewing of indicator value, price and date at a given point in the chart really easy.
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