Understanding the Unique Features Available on the MT 5 Platform 

mex-global

MT 4 which is considered one of the best and most popular forex trading software is MT 5’s previous version. MT 5 is a more upgraded and advanced platform although the basic outlook is quite similar to MT 4. It soon gained popularity earlier enjoyed by MT 4. This new version has some incredible features that are unique to this platform and useful for traders. Visit mex

MetaQuotes Ltd has developed this smart trading platform which is amazing in many ways. In this article, we will discuss the top five unique features of the MT 5 Trading platform.  

Top 5 Unique MT 5 Features:  

There are several MT 5 features that are not available in its previous version. Therefore traders and brokers, who used to deal using MT 4, are unaware of the features.  

  1. There Are Technical Indicators 

Technical indicators are by far one of the best features offered by the MT 5 trading platform. There are 38 built-in technical indicators in this trading platform which has proven to be extremely helpful for traders. This is a unique platform that allows traders to use a wide variety of technical indicators. 

It is easy to create unique technical indicators in this trading platform. From MQL 5 traders can gain access to a wide variety of indicators. There are free and premium indicators for trading on MT 5. These indicators help new traders a lot but are equally useful for seasoned traders.  

  •  Useful Graphical Objects For Price Action Traders 

Another incredible technical feature of MT 5 is useful graphical objects. For example, a chart pattern is an essential tool for price action traders. Here a trader can create unnumbered chart patterns using graphical images. To understand the trading pattern traders must learn to understand the chart patterns.  

To understand the chart patterns and to identify them differently a trader needs many graphical items. Here you get 44 graphical items to understand the chart pattern. It is very essential in the world of the stock market and cryptocurrency trading. Understanding the right trading pattern and deciding on the right time make a whole lot of difference.  

  •  It Has 21 Distinct Timeframes 

A period is an important component in trading. Huge institutions involve in forex trading in great quantities take a longer time frame. But trading for a longer time frame is really difficult for retail traders. Many traders use lower timeframes in their trading strategies and go up on higher timeframes and observe the major participants. 

The previous version only had nine timeframes while this latest version has a whooping 21 timeframes. The 21timeframes range from one minute chart to one monthly chart to be precise. The different timeframes allow the traders to understand the market indifferent period.  

  • You Can Benefit From Expert Advisers 

This trading platform has statistical algorithms that can serve as an expert advisers. It is a pretty new and excellent feature in MT 5, that many traders use and benefit from that many traders use and benefit from. 

The expert advisers are nothing but pre-programmed algorithms. The MQL 5 programming language helps to create expert advisers or automatic robots. There is an inbuilt App Store called Meta Trader market from which you may use EAs or Code Base. These are all free sources that any trader can use. 

  •  You Can Access True Volume Traded Data  

Up until now, no trading platform has shown true volume traded data. For the first time, you can find true volume traded data instead of tick volume data on any trading software. MT 5 has introduced this concept in the world of share and cryptocurrency. Tick volume is basically the number of price movements on a specific candlestick bar.  

In the previous version, MT 4 traders could only have permission to evaluate a chart’s tick volume. On MT 5 You can perform the function by right-clicking on the chart.  

Start Trading Using MetaTrader 5 

If you have decided to go on with day trading, then you must ensure that you trade in the right environment. MT 5 is just the right trading platform for you which is fast, reliable, intelligent and safe. Being a successful day trader needs a powerful trading platform just like MetaTrader 5.  

Once you land on the platform you see a user-friendly interface to facilitate your daily trading routine. The main menu bar has all the command tabs, such as file, view, insert, charts and help. This helps you to activate your indicators and other analytical tools. You can use various platform settings to create your personalised training environment. 

A Few Things To Consider Before Trading On MT 5- 

  • You have to be always up to date about all the economical and financial knowledge. Knowing about market prices is essential when you are in the trading business. So always update your knowledge about the financial market and trading work to get the success you want. 
  •  Work on your trading strategy and if you want you can take expert advisers. On MT 5 These automatic robots can help you make the right decision at the right time. Every successful trader has a trading routine and they follow that religiously, if you want to earn money you must make your own trading routine.  
  • MT 5 is a multi-asset trading platform that offers exceptional trading facilities and technical tools. This is an all-in-one trading platform ideal for both new and old traders and brokers.  

Final Words 

 As you can see MetaTrader 5 has quite unique functions and a very simple and easy-to-use interface. Its interface is quite similar to that of its previous version MT 4. However, whenever you decide to day trade you should go for a fast and reliable platform like MT 5.  

Before investing you can make a demo account to understand the trading strategies and how the entire thing works. It is absolutely free of cost so there is no risk of losing your money.