Metatrader Mastery Masterclass - Master Metatrader 4 | Metatrader 5 | MT4 | MT5 | MQL5 | Daksh Murkute | Skillshare

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Metatrader Mastery Masterclass - Master Metatrader 4 | Metatrader 5 | MT4 | MT5 | MQL5

teacher avatar Daksh Murkute

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

25 Lessons (1h 29m)
    • 1. 00 Intro

      3:27
    • 2. 01 Difference btwn MT4 & MT5

      3:52
    • 3. 02 Installig MT4 & MT5

      1:45
    • 4. 03 Right chart types 2

      5:14
    • 5. 04 Settng up chart

      2:33
    • 6. 05 Toolbar

      2:32
    • 7. 06 Timeframes

      2:16
    • 8. 07 MARKET WATCH LIST

      3:36
    • 9. 08 terminal windows

      8:15
    • 10. 10 Template

      3:33
    • 11. 11 Profiles

      2:44
    • 12. 12 Buy & sell Traders

      3:10
    • 13. 13 Stop Loss Take Profit

      4:10
    • 14. 14 Market order & Pending Order

      2:25
    • 15. 15 Buy Sell Limit

      4:16
    • 16. 16 Buy Stop Sell Stop

      3:56
    • 17. 17 Buy stop limit

      3:57
    • 18. 19 Types of Objects & rectangle

      4:45
    • 19. 20 Horizontal Lines

      2:05
    • 20. 21 Object trendline

      1:44
    • 21. 22 Fibonacci Retracement

      3:00
    • 22. 23 Duplicating object

      1:11
    • 23. 24 What are indicators?

      4:29
    • 24. 25 Add indicators

      2:10
    • 25. 26 Set chart like a pro

      7:36
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About This Class

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Metatrader 4 and MetaTrader 5, mql5 or you can call it mt4 and mt5 are the most used software by the majority of the traders and investors. 

Just like Katana Sword is the most important Weapon of the Samurai 

Hammer is the most important weapon of Thor 

Photoshop is the most important weapon of Photo editors 

 Just like that 

Metatrader is the most important Weapon of all the Traders. 

Hey everybody My name is Daksh and I am a professional trader and Investor. 

I am also an author and Founder of the Forex Monopoly and Forex Inner circle. 

To become a Samurai or an expert samurai, you have to master the weapon Katana. 

In the same way, In order to become a successful trader, you have to master the weapon of choice which is the Meta Trader Platform. 

Metatrader is currently the most popular trading interface in the trading market. According to recent statistics, more than 90% of brokers use the Metatrader terminal as their primary trading interface.

Katana is nothing but a normal sword when it is in the hands of a normal person. But when the katana is in the hands of a samurai it becomes the most powerful sword in the world.

Because samurai are the people who are expert in using katana 

Just like that Metatrader is just like a normal trading platform when used by a person who doesn't know the actual potential of it. But when you know how to use it to its actual potential then it can do wonders in your trading. 

This course is all about mastering the most powerful tool and weapons for Traders which is MetaTrader 4 and Metatrader 5, mql5. This software is used for technical analysis, reading the market, opening and closing positions, and many more things. 

Welcome to MetaTrader Mastery Masterclass 

This MetaTrader course is for beginners or professional traders. 

whether you are a forex trader, stock trader, crypto trader, or any other kind of trader. If you master this software then it can change your trading drastically 

This Metatrader 4 and MetaTrader 5 or mt4 and mt5 , mql5 course is designed in such a way that anyone can properly understand this software and properly use it. 

In this course, you will learn about 

1. important features of MetaTrader platform - Learn about all the important features of the MetaTrader platform including mt4 and mt5 

2. How to customize your setup as per your need - Understand how you can customize your trading setups according to your needs of trading and trading style.

3. Discover the hidden features of mt4 and mt5 - This class will uncover all the hidden features of the MetaTrader 4, mql5 and MetaTrader 5 platform. 

4. How to use profiles and templates - Learn how to use profiles and templates in MetaTrader 4 and MetaTrader 5 mql5 

5. Different types of orders - Learn about all the different types of orders like - buy limit, sell limit, buy stop, sell stop, buy stop limit, sell stop limit in the mt4 and mt5 platform. 

6. Hidden Tips and Tricks of this platform - Learn about all the hidden tips and tricks of MetaTrader 4 and MetaTrader 5 platforms. 

7. Almost everything that an expert should know - Grasp almost everything about this software and become an expert in MetaTrader 4 and MetaTrader 5 or mt4 and mt5 mql5 platform. 

8. Metatrader 4 tutorial for beginners 

9. MetaTrader 5 tutorial for beginners 

10. Mt4 tutorial for beginners. 

All these things won't only help you transform your trading but also will help you trade more efficiently. 

This Metatrader 4 and MetaTrader 5 or mt4 and mt5 course can be used by 

  1. Forex Traders and Forex Investors 
  2. Crypto Traders and Crypto Investors 
  3. Stock traders and stock investors 
  4. Commodities traders and commodities investors 

Anyone who is into this field of trading and investing can directly benefit from This MetaTrader 4 and MetaTrader 5 or mt4 and mt5 course. 

Mt4 and mt5 are considered to be very complex software. Yes, it can be complex if you don't know how to use it. 

I have designed this course in such a way that anyone can master this platform easily. 

I have broken down and explained all the complexities into the most simplified form.  

But that's not it. In this course, you will also get to know how professional traders like me set up their charts. This will help you understand how the majority of the professional traders set up their charts. mql5

This course will make you an expert on the MetaTrader platform and help you increase your profit. 

Meet Your Teacher

Hello, I'm Daksh. I am a Professional Forex Trader and founder of forex monopoly . I invest in real estate and travel around the world.

I have helped many people to transform their personal and financial Lives. 

 

See full profile

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Transcripts

1. 00 Intro: Just like Qatar, password as the most important weapon of the summary, hammer is the most important weapon of torque. Photoshop is the most important weapon or photo editors, just like that, metadata is the most important weapon of all the traders. Hey everyone, my name is Dutch and I am a professional investor and also an author and founder of forex monopoly and forex in a circle. To become a samurai or an export somewhere. You have to master the weapon Cortana. In the same way. In order to become a successful trader, you have to master the weapon of your choice, which is the meta data platform. My dad later is currently the most popular trading interface in the trading market. And according to the recent statistics, more than 90% of brokers use the metadata terminal as the primary pleading interface. K1 is nothing but a normal swot when it is in the hands of normal person. But then the Cortana is in the hands of samurai. It becomes the most powerful force in the world because somewhere are the people who are expert in using Cortana. And just like that, metadata is just a normal trading platform when used by a person who doesn't know the actual potential of it. But when you know how to use it to its actual potential, then you can do wonders in your trading. This course is all about mastering the most powerful tool and a weapon for traders, which is the metadata for and metadata five platforms. Welcome to metadata mastery master glass. This course is for business and professional traders. Whether you are afforded stock trader, crypto trader, or any other kind of trade. If you master this software, than it can cheat your trading drastically. In this course, you will learn about important features of metadata platform. How to customize your setup as per your needs, discovered the hidden features of metadata platform, how to use profiles and templates in this platform, different types of orders, hidden tips and tricks of this platform. Almost everything that an export should know. All these things won't only help you to transform your trading, but will also help you to trade more efficiently. Anti-foreign MD5 are considered to be very complex software. Yes, it can be complex if you do know how to use it. I have designed this course in such a way that anyone can master this platform easily. I had broken down. I explained all the complexities into the most simplified form. But that's not at, in this course. You will also get to know how professional leaders like me said their charts. This will help you to understand how the majority of the professional traders setup that shots. This course will make you an expert on the metadata platform and definitely help you to increase your profits. So without wasting any time, let's get started. 2. 01 Difference btwn MT4 & MT5: There has always been a lot of questions about MP4 and amplified platform. And traders usually don't know which one should they choose or which one is most suitable for them. So in this video, I will tell you the difference between empty for an empty five trading platforms. And ritual is the best suitable for you. Before we move ahead and start comparing T4 and amplified trading platforms. Let me give you a short intro about MP4 and MD5 trading platforms. Mp4 and MD5 trading platforms are developed by metaphors Software Corporation. And these platforms allow you to read in the financial markets with ease. At first, the empty for was developed in which the traders could only trade the forex market. And then MD5 was launched, which allows traders to trade in the four x plus various other financial markets like stocks at sector. Now, talking about the difference between MP4 and md5, MDG4 is very simple and easy to use. And that is why it is the first choice of all the beginner traders. Furthermore, it allows you to change the interface according to your needs. On the other hand, md5 is a successor of m before. It can be a little difficult to use, but it is not too different from empty for MD5 comes with little additional features and has advantages. Or empty for like MP4 comes with only nine time-frames, but the minimum timeframe of one minute and the maximum timeframe of around monthly chart. Well, as MD5 provides you with a total of 21 timeframes and hence allows room for a detailed analysis of the market. The next difference is the variety of technical indicators and tools they provide. Mt four comes with 30 indicators and 31 drawing objects. Whereas MD5, or once you get 38 built-in indicators and around 40 for drawing tools. One of the best features of md5 is that empty five provides you with the pending orders. As I'm dabbling most of the time and cannot always keep an eye on the chart. Pending orders helped me a lot. I can use pending orders to execute a trade at the position I desire. And so i must have very few rates. Now, I'm T4 also provides you with pending orders, but empty full provides you with four different pending orders, namely by limit, sell, limit, by stop, and sandstone. Whereas MD5 provides you with six different types of pending orders by limit, sell limit, by stop cell, stop by stop limit and sell stop limit. Now, there are more differences between these two platforms, but these are the only important differences. Now, talking about virtual is better mood. The platforms are equally good. They're literally the same. They look the same, and they have the same interface and many common features, except the ones I mentioned earlier. So it won't make much of a difference. Whichever platform you use, it just depends upon your trading needs, like water trading needs. So that's all for this video. See you in the next one. 3. 02 Installig MT4 & MT5: Hello and welcome to this video. In this video, I will tell you how and from where to install the MP4 and MD5 platforms. Mp4 and empty for a boat have that separate website and you can download it from the for-free. Also, many glucose will themselves provide you with MDG4, MDG5 setup, which you can directly download from their website. So to install the MDG4, MDG5 trading platform, just search the metadata on Google. Now, go to the website of whichever meditator platform you want to install it. Now, they provide you with five different options. You can install it on your smartphone or iPad on both iOS and Android versions. For PC and laptop, they provide setups for Windows, Linux, and iOS. Now, if you don't want to install MC4R MD5 and use it directly on the Internet. Then they also provide you with the web trading platform. So for that, you can also search MP4 vamp trading platform on Google. They will provide you with the link. Now, the installation process of Windows and Linux is quite simple. You directly have to install it on your computer. Now, whoever uses macOS earlier, many brokers used to provide but setups for Mac OS. But now after the new Mac OS update, that setup would work anymore. For them, you can find the steps on how to install it on Mac OS or you're itself. So download the metadata setup, install it, and I will see you in the next week. 4. 03 Right chart types 2: Hey, welcome back to this video. Before we set up the chart, that is one important thing which you have to look after. And that thing is choosing the right chart types. The child type should be chosen based on your needs and comfortability and not on what other people use. That are various charts, types available on different lifeforms. And meditator provides you, but three important types of charts, candlestick charts, the line charts, and the bile charts. Now, whenever the value of a currency pair changes, whether the player moves up or it moves jump. It is shown on the chart either by candle sticks, bars, or even light. It totally depends upon which type of chart you use. When you use a candlestick chart, the price movement is shown by a canvas. And when you use a bar chart, the price movement is shown by a bar. And if you use a line, then the price movement is shown by a line. So let us try to understand each one of the charts character. The first one is candlestick charts. Candlestick isn't wet density chart that shows the opening price, high, low, and the closing price of the candle. It consists of two main parts, the body and the weak or shadow. This area is called the body and represents the opening price and closing price of the kind of the vector represents the highest or the lowest point to vet the price has moved. Like here in this candlestick. The body of the candle sticks started from 0.08936 and ended at 0.10130. This means that the price of the candle as 0.08935 and the closing price is 0.10136. You can also see VIX, the candle created. This tells us that the highest and lowest price of the candle before it was completed. Now, if you have the chart on daily setting, each candle represents one day with the opening price being the first-price traded for the day. And that glows prize being the last phrase, traded for the day. In the same way, if we move to for our chart, one candle will take four hours to complete. And if we move to a one hour chart, one candle will take one hour to complete. Now, many of you may be wondering, why are there different colors to my canvas tacks, like some are white and some are black belt. There are two different types of characteristics. Bullish candidates texts and the banish tenders takes the kinda streak which moves up, it's called the Bullish candle sticks. Or when the price moves up, it is called a bullish price movement. And when the price moves down, it is called bearish candle sticks. And the price movement is called as a bearish price movement. Now you can set the color of the diagnostics as per your need and you will learn that in the next video. In my chart, the white candlestick represents the bullish price, and that, that candle represents the bearish price movement. The next chart is the bar chart. By chart is also an OH, LC chart and it is similar to candlestick chart. But instead of a body in the bar chart, the open and close off about are represented by horizontal lines like here. And this var doc first horizontal line is at 0.09 A36, which means it is the opening price of the bar. And the second horizontal line is 0.10130, which means it is the closing price. This means that the opening brace of the candle as 0.08935 and the closing price as 0.10130. Now, like we have wicks in the kind of stakes that showed us, the highs and lows. The highs and lows are represented by these vertical lines after a horizontal line. Like in this case, the high was 0.10273 and the law was 0107545. Now, the third type of chart is the line chart. A simple line chart draws a line from one closing point to another closing point. And it does not contain the values of high and lows with the price created. The line chart is the easiest type of chart and it provides a clean and clear view of the price levels. But that is not much detail about the price behavior and it's not recommended for bait rigors. Now to shift between different chart or choose a chart type. Just right-click. And here you can choose whichever chart you want. That's all for this video. See you in the next one. 5. 04 Settng up chart : After you are done with installing the software, when you first open it, it may seem very complex and difficult to understand. You may be very confused about what to do next. When you open the matter Data Platform, the major trader platform will look like this. But several windows and a lot of 2D. But we don't need the majority of the tanks. And we also need to set up our chart so that it looks neat and t. So the first thing you need to do is get rid of all the Windows which you don't need. Like the strategy tests, we don't need it. So we will remove it. We will need this toolbar, so we'll keep it as it is. Now, removed, the navigator window and also the data we do. And keep the Market Watch List as it is. Now, we have removed all the unnecessary windows. The next thing we have to do is make the chart look neat and clean. For that, double-click on any chart and open the chart. Now, right-click anywhere in the chart window. Now go to properties. Here you can choose the type of chart. Now, I prefer kind of sticks, so I'm using a candlestick charts. Now keep the rest of the settings as it is. Good to shop. Now here, click on Show 2h, LLC, the ask price and take the last place and and take the sugared. Now, go to colors. Here in the scheme section. Choose black and white. You can set the color of the candles you and you can do it as for your needs. But I prefer black and white combination. It looks really clear and easy to look at it. So I'm using black and white. Now, click on OK, and you will be done, but setting up your charts. Now, you will also need a one-click trading box to open and close traits. So for that, right-click anywhere on the chart and click on one-click printing. A box will appear and from year you can buy and sell. Now you can see how clean and beautiful the chart looks. Plus you only have the necessary windows on the chart and only the necessary foods. So that's all for this video. See you in the next one. 6. 05 Toolbar: In the previous video, I told you how to set the chart layout and also how to get rid of unnecessary tools. Now, nobody likes it when they have to keep looking forward to, but I'm not able to find it because there are too many of them. This happens when we use the default metadata settings. It comes with a lot of tools and the majority of them are just useless. So always customize the toolbar and only keep the tools that you will need during trading. So to customize the first panel, right-click and go to customize. Now here you will find two boxes. In one box, there will be the available tools that you can add to the toolbar. And on the other box, there will be the tools which are already added to the toolbar. The tools which I use are a new chart to open a new chart. Profiles as I have different profile for each trading style full screen option to fulfilling the chart when needed. Albert reading, as I sometimes use it, a new order to open a trade. Now, in types of China, you can either keep all the three are only one. It depends upon you. Like I sometimes shift to line chart for better understanding. So I kept the line chart and the candlestick chart. Now moving forward, you will need zoom in and zoom out option while doing the analysis and the tile Windows. If you want to keep an eye on more than one chart, or if you want to use correlation. Now you will also need the auto scroll, charged shift, the market watch list, and templates if you use different strategies. Now you are done with setting up one part of the Toolbar. Now to customize the objects section, right-click and go to customize. As I use limited tools like train line, rectangles, Fibonacci, et cetera. I've only kept those tools to the front and removed all the others. And if I ever need any other object, what I can do is I can go to Insert option and use it from your itself. So this is how you customize the toolbar. See you in the next video. Thank you. 7. 06 Timeframes : Metadata provides you with different time frames on which you can do your analysis. If you are a scalpel, then you can use one minute, two minutes, and other lower timeframes. And if you are a detail or swing trader, then you can go higher time-frames. But what are timeframes? That timeframe is a way of grouping prices to represent them on the chart in a more convenient manner. There are numerous types of time-frames, but the following ones are the most common through different life forms. Like one minute timeframe, five-minute timeframe, 15 minutes timeframe, one hour time frame for our timeframe, daily, weekly, monthly. And so what do all these timeframes mean in forex trading? The timeframe label indicates the amount of time one candle or bar takes to complete the laser that timeframe, the larger the time needed for the Kindle to complete. For example, if you choose a one-minute time-frame, then one candle voltaic, one minute to complete. And if you choose one hour time frame, then one candle will take one hour to complete. In the metadata platform, that choice is not limited to the mentioned timeframes. That readers can also make use of non-standard timeframes like three-minute or two hours or six hours and so on. If you're a day trader and only need timeframes from 30 minutes to four hours. And want to get rid of other timeframes, then what you're going to do is you can customize the timeframe section. So to customize the timeframe section, right-click anywhere on the timeframe section. Now, go to customize. Here. You can add whichever timeframes you need and you can remove whichever timeframes. You don't vote. Once you are done adding and removing timeframes, click on OK and your timeframe section will be customized. So that's all for this video. See you in the next one. 8. 07 MARKET WATCH LIST : Have you ever needed to create a custom currency symbol set in your metadata Market Watch List. This can come in very useful if you only read a few currencies or if you use different styles on different currency pairs, like scalping on all the major pairs as they have high liquidity and swing trading on the minus. The default Market Watch List in metadata usually includes almost all of the currencies and commodities that allows you to clean. And it's sometimes get very annoying if you have to search through the entire list for finding a currency pair. Instead of searching through the entire list to find the currencies that you prefer to treat. Wouldn't it be easier to simply remove the unwanted currencies and commodities from your Market Watch List or cleared several custom market watch list and use it whenever you need it. You may treat certain currencies, but one trading system and trade currencies with another method. Having separate custom symbols sets to switch between could save you a lot of time and headache in the long term and make you a more efficient reader. Or in this video, I'm going to tell you what as market was this section. And we'll show you how to create your own custom market watch currency set. The market whitelist section is a section in the metadata platform where you have all your assets and currency pairs that your broker provides you with. Like you can see on the screen, this box is called as the Market Watch List section. The box contains all the pairs your broker is offering you it. This is the name of the currency pair. This is the bid price and this is the last place. You can also sort the list as per your needs. For that right-click anywhere in the watch this section. Now, go to salt. Your, you can sort the currency pairs based on the starting letter or the initials, or by the winners and losers. Now, if you wish to add a currency pegged to the main window for that, right-click on the currency pair which you want to add and click on chart window. The pair will be added to your chart window. Now, let us see how to create a market watch this section with your choice of currencies. First, you need to view all the pairs which your broker offers you. For that simply right-click inside the Market, Watch lead somewhere and select, show all. This will reveal all the currencies that are hidden in the current symbol list. Now, you will need to remove all the currencies that you do not want to show up on your custom symbol list. To do that, you need to select a symbol and right-click and select Hide. Remove all the unwanted pairs using the same step. Now you can save your custom currency list. For that, simply right-click inside the Market Watch LIT once again, scroll down to sets and select, Save As now name your list, and you are done. Now you can access your custom currency list anytime you need it. Simply right-click inside the Market Watch List window. Scroll down to sets, and select the name of one of the custom symbols that you have created. That's all for this video. Thank you. 9. 08 terminal windows: Hello and welcome to this video. In this video, I will tell you what as terminal window in the metadata platform and how to use. Terminal is a multifunctional window allowing access to various terminal features. This window allows us to control or trading activities, view News, an account history, setup a lot, and woke up with the internal meal and system journal. There are several types in the window trade. This tab, one can view the status of open positions and pending orders, as well as manage all the other trading activities. Besides the tool financial results for all open position as published in this step. The second step is of exposure. This tab contains the summary information about the state of assets, but all open positions. The third tab is for account history. History for all perform played operations and balance without taking open positions into consideration, unpublished or you. The efficiency of all the great activities can be estimated with the results given in this step. The next step is often news. All financial news in coming in the terminal can be viewed from this step. This from information is indispensable for fundamental analysis. The next step is of allots radius alerts can be viewed and sat here. Any files executable in the operational environment, and messages to be sent by email can also be used as allot. The next step is of mailbox, message inbox in the terminal by internal email as tall or your electronic messages are also suffering from you as well. The next step is of company. This step displays a useful web page for a credo. The next step is off market buying or downloading applications from the market of MQ L4 application at MQ L5 community. The next step is off signals. This tab displays trading signals of the signal service which are available for subscription, is called base year. You can download any application published in that core based section of the MQ L5 or MKL for community, the nectar search tab. This tab displays the result of searching through the client terminant. The next is expert advisor. Yeah, you can find information about the functioning of the attached export, including opening, closing of politicians, order modifying the experts own messages, et cetera, are published in the step. The next edge join information about terminal launching and about events during its operation, including all the operations performed as stored in this john. Now let us go through each one of the tabs and understand it. Number one is treated in the Trade tab. You can see your ongoing treats. And can also close crates from your itself. If we right click in this section, you can see you have the options to open, closed, and modify the order. You also have options for leasing a trailing stop-loss just below the trailing stop loss. That is a volume option. From here you can set the volume you buy all set to the number of units or to the lot size. If you choose number of units or quantity, then here you will see the units. And if you choose a lot trace, then the order will show you the lot size you used. You can also order in the step as per your need for that. Just go to columns and select the options which you want to see in the tab. Moving forward, the next step is exposure. Here you can see all the assets you own based on your current ongoing positions. Here you can see a diagram that will show you your long and short ongoing tapes. Now the next step as of history, here you can view the history of all your previous states. You can also view the history of the previous month or any custom period for that. Just right-click anywhere in the section here, you can choose whichever time period you want. Yeah, you can also add just the columns as per your needs. As I need to see that Commissioners who have fee and percentage change, I have only added that and removed everything else. Yeah, you can see it shows the time and date when at least that rate, the symbol, that type, older price, etc. In the News section, you can view News in coming in the terminal. In the middle section, you get the meals from the market about the new upcoming robots, ought signals, service or cooperating, et cetera. In the calendar section, you can see the upcoming and previous fundamental news. Now, earlier this auction was not available on metadata for sole traders used to use for expected or comfort when news. But now you can directly do it from your itself. Yeah, you will see the news of almost all the countries, but you would want to limit those. And only when the news of necessary countries for that, right-click, go to countries and select the countries whose currencies you trade. Now again, go to currencies and select the currencies you want or the currencies do period. Most of the news release have no impact on the market. For that, right-click, go to priority and only select high impact news. Now, only high impact news will be visible. Oeo, you can view the news of previous, current, and upcoming weeks. Users have to select it from Europe. The next step is of company. Yeah, you can find the website of the broker. You are using an access to your account from here itself. Now, in the market tab, you can find export advisors mode, paid and free. You can also find the custom indicators over you. Now in the alert section, you can create alerts. Like if you don't have time to keep looking at the chart and wanna set a particular Euler or at a particular price, you can do it from your itself. For that, just right-click and go to alerts. Now choose the symbol set that time period for which the alert will be valid. And enterprise section entered the price at which you want the alert torpedo. The alert will be visible radio, and when the price trigger your alert, you will hear a song. The next is the signal step. Here you will find different signal providers, some happy, and some are also free. You can choose a signal provider if you want from here itself. Now, in the ideal section, you will find the free articles related to my trailer and trading. Here you will find different custom indicators and bots which are published on the ML Q5 community, and you can download it for free from Europe. Now, from the VPS section, you can rent a virtual servers for robots and other purposes. Now, if you buy any expert advisor from the market cap, those subscription will be visible in the expo section and you can use it from here itself in the journals action, you will find information about terminal launching and about events during its operation, including all trade operations performed. Now the last window is of the strategy tester. If you have downloaded abort and want to test it on a certain currency pair, you can do that from the strategy test. It will run that board through the given time better on your choice of currency pair and notify you with all the buying and selling opportunities or alerts the board provides you. But so that's all for this video. See you in the next one. 10. 10 Template: Many traders prefer to use different reading strategies wildly. And different reading strategies may require different indicators. But when we tried to use different reading strategies with different indicators on the same chart, the chart gets messy and we're not able to read the Jaclyn let Kelly the matter later platform allows us to create the friend templates according to our needs and we can easily shift between one template to another without any hazard. These templates, let us see the indicators and tools required for a particular strategy and we can load it and apply it to our charged whenever we need it. So in this video, I will tell you how to create a template and how to use that. Now to make you understand how to create a template and most importantly, how to use a template. Let us suppose I trade with two different strategies. One for scalping and another one for day-to-day. Let's first make an template for scalping strategy. So I use Bollinger Bands and RSI for scalping strategy. So I will first go and add Bollinger Bands. I will set the levels and said the indicator. And now I will add the ISI. The RSA will be off level 142 levels of 3070. So now we have added the indicators required for the strategy. Now to save this template, right-click on the chart, go to templates and click on save template. Name the template and click on save. Now for day trading, I don't personally use any indicator. So I will remove these indicators and then I will make a template. So let us first remove these indicators. Okay, so now we're done removing the indicators. Now we need to save this template. So right-click, go to templates. Now saved the templates, name it, and click on save. Now you have both of your templates ready. So we are done with setting up the templates. Now the question is, why do we need it and how to use? Let us suppose I am a day trader, but I also love to do scalping. So if someday I do not have enough setups lined up or if there are not enough opportunities in beta reading. And I wish to shift to scalping. All I have to do, go to templates and select the scalping template which we saved earlier. And then we are done. We can now do scalping without having to mix up two different strategies. Now, again, if I wish to shift back to day trading strategy, all I have to do is go to templates and select that day trading template and my chart will be changed. So you can see by using templates, we're able to shift between different strategies and also are able to keep our chat clean. 11. 11 Profiles: In the previous video, we learned how to create a template and how to use it. In that video, I showed you how you can shift between different strategies and different leading styles with the help of templates. But that is a little problem with that. Every time you shift between different templates and change strategies, you will lose the objects and the tools which you have used for technical analysis. Audio. Like when we do technical analysis, redraw certain setups that help us analyze the market correctly. And it is important to review every setup at the end of the week. So if you shift between different templates, there are chances that you might have to get rid of the previous setups. And this may be problematic for you. But luckily, MP4 allows you to have different profiles, which makes your job much easier. So let us understand how to create a profile and how to use it. Now, let's take the same example which we took in the previous video and use the templates which we created. Let us suppose I am intraday trading and scalp. So we will create two profiles, 1-4 day trading and another one for scalping. So before we create a profile, we need to add all the tools and indicators. Use an any strategy. As we have our template's saved, we will use those templates. So first, I will create a profile for scalp. For that first I will load the scalping template. Now, go to File, go to profiles, Click on Save As enter the name of the profile, and your profile will be saved. Now to create a profile for day trading would do templates. Select the day trading template. Now go to File profiles, Click on Save, and enter the name of the profile, and your profile will be saved. Now you have your profiles ready. And you can shift between different profiles, like if you want to date rate, then you can select the date lading profile like this. You will also have all your previous drawings or data as it is. And if you want to do scalping, you can select the scalping profile. So this is how you create a profile and this is how you use it. I hope you understood everything. Ethanol, then feel free to ask me in the discussion. Thank you. 12. 12 Buy & sell Traders: Hello and welcome to this video. In this video, I will tell you how to open a buy and sell trade in the metadata platform. Opening buy and sell to It is very simple. Let us see how to do it in MD5 trading platform. So this is our male narrator Five platform. This is the market whitelist section where you will find all the currency pairs. And this is the idea that the account sets or ongoing traits are given. Now, you can open a buy or sell trade from this box itself. If this box is not visible to you, just right-click anywhere on the chart. Now click on one-click trading. Now to open a bitrate until the Lord says with which you want to enter a trade and click on buy. After your trade is open, you can view the stats in this section. Now, in the same way to open a cell trade, enter the video and then click on cell option. A cell trade will be opened. And you can see the trait over u. Now, if you want to close the trade, you can click here and then the trade will be closed. Now there is another way to open by entitled rate where you can add the profit and stop-loss level and also choose the type of order execution as for your need. Now, those who don't know about different types of orders, don't worry, we will talk about that later in this class, and I will explain that to you. To open a buy or sell trade, right-click anywhere on the chart and go to trading. Now, bow to the new order. A box will pop up, choose the symbol, enter the lot size in the volume section, stop loss and take profit type of order, and then click on buy if you want to buy, or click on cell if you want to set. So this is how you open a buy and sell trade on MD5 trading platform. Now, for those who use metadata on their smartphones, there are two different ways to open a treat for those who are into scalping and want a quick buy and sell option. To the top right of your screen, there is a box. Select that box. The buy and sell option will appear on the top of your chart. Just ended a lot says, and then select by if you want to buy or select cell if you want to sell. Now, there is another way to buy and sell. And this option allows you to set, stop loss and take profit while placing a crate itself. For that, click on the Create button. Then to the top right, you will see a plus sign. Click on that button. Now again, choose a lot says, and click on buy. If you want to open a bitrate and click on cell to open a cell trade. After you have opened. At rate, it will appear in the trade section to close or modify the trade, touch and hold on the particular trade and then click on Close. That's all for this video. See you in the next one. Thank you. 13. 13 Stop Loss Take Profit: Stop loss and take profit are very essential tools for every Forex trader. It helps you keep your account safe and gives you a break from continuously staring at your charts. Consider you have a busy day and don't have enough time to monitor your positions. What will you do in such cases? Well, you can use stop loss and take profit. In this video, we will learn how to take profit and stop-loss in the metadata platform. But before that, let us understand what is a stop loss and take profit and why is it used? A stop-loss is a price limit entered by our trade-off. When the price limit is reached open position, we'll close to prevent the further losses. Similarly, our take profit automatically closes a position once the profit target is reached, two log n profits. Now, in more simple terms, stop-loss is an order in which you have to mention a price at which you want to exit a losing great. And take profit is an order in which you have to mention a price at which you want to exit and winning trade. The purpose of stop loss and take profit is that it helps you keep your account safe from sudden market crashes and also make you feel safe when you are not able to monitor your trace throughout the day. Now, placing a stop loss and take profit is very simple. So let's go to metal trader platform and see how to do it. There are two ways to set take profit and stop loss. You can do it directly by dragging your order or by entering the values manually. Now to place a stop-loss or take referred by dragging the orderly. Always remember, when you enter a cell trait, you will profit when the price moves down. So you're taking profit will always be below your order level and you will be in a loss when the price moves up. So your stop loss will be above your order level. In the same way, when you open a bitrate, you will profit. When the price moves up. Sir, take profit will be above the order level and you will be in a loss when the price moves job. So your stop loss will be below your order level. Let's say you enter the cell trait and based on your analysis, you wanted to keep the stop-loss 20 pips above the order level. So just drag your order in the upward direction for citing a stop-loss and keep it 20 pips above. You can directly see the value in pips while setting the stop loss. And take profit, do the same thing, but in the opposite direction of the stroke. Let's say you want to keep the take profit core chips away from your entry point, just like you let for stop-loss, drag the entry line to your desired take property level, and that's it. Now the other way is to do with by entering values. For that, right-click on your order, Select Modify, enter the values of stop loss and take profit, and then click on modify the taper off it and stop loss will be pleased. Now for those who use metadata on a smartphone to place a stop-loss or take profit. Go to the trade section. That's n, Hold on any ongoing grid. Now, select, modify and other values of stop loss and take profit as per your analysis and click on modify. Your stop loss and take profit will be updated. You can also set take profit and stop-loss while placing a grade. For that, go to the trade section. Select the plus sign to the top-right. Now, choose the currency pet, enter the lot size, enter the values of take profit and stop-loss, and then place that it. Your take profit and stop loss will be placed along with your trade. Now if you wish to modify that take propellants stop loss, you can touch and hold on the trade option. Now go to modify and change the values and you are done. So that's all for this video. See you in the next one. Thank you. 14. 14 Market order & Pending Order: Metadata provides two ways for opening a position, market order and pending orders. Market orders are the orders which get instantly executed at the current market price. Like we saw in the previous videos when we opened, we selected market execution in the order type and the trade was instantly opened. It is like you give orders to your broker that you want to buy or sell a currency pair at the current price. And the broker is offering you. For an example, let's say you found a by entry on USD JPY, and you want to buy it at the current price itself. For that, you will have to go to mp4 or M25 trading platform and enter a market execution of bitrate. This order, which you please will be instantly frayed and is called as a market order. The other type of order is depending on now pending order, is also called as a limit order. So basically, a limit order is a type of order which gets executed later at the price which you want to open a position on, like a graders instruction to the broker to buy or sell a currency pair in the future under a predefined condition. For example, let's say you are doing technical analysis for the next day. And you found out that when the place stretches some level on USD JPY, it will be a good salary. So when you go to mp4 and create a sell limit order, this trade will only be open when the price reaches your desired or mentioned level in the future. Now, there are different types of pending orders. I'm default provides you with four different type of pending orders and the MD5 provides you with six types of pending orders. The available pending orders on empty, fought by limit, sell, buy and sell stock, and the available pending orders on MD5 by limit, sell, limit, by stop sell stock by stock limit, and the cell stop limit disorder, a very beneficial if you know how to use it. And get also keep you from losing entries and restricting the emotions. 15. 15 Buy Sell Limit: In the previous video, we learned what a spending orders, that type of pending orders and also its uses. In this video, I will tell you what is a VI limit and sell limit and how to use it in the metadata platform. As the name suggests, by limit and sell, limit falls under the limit order category. Uh, by limit is a type of order in which you order your broker that you want to open a bitrate when the price reaches your desired or mentioned price level. For example, let us say that the current price is for you. And you want to open hydrate when the price moves to this level. For this, you will have to open a bind limit at this level. So whenever the price moves through that level, the bitrate will be automatically opened. Now, a sell limit is a type of order in which you order your broker to open a cell rate when the price reaches your desired or mentioned level. For example, let us say that the current price is for you. And you want to open a trade when the price moves to this upper level. For this, you will have to open a sell limit at this level. So whenever the price moves through this level, the cell trade will be automatically opened. And you don't have to keep looking at the charts for the price to come to your desired level so that you can open our trade. Now, that is one important thing which you should note. Who enter a filament, that current price should be above your desired level. And to enter a sell limit, the current price should be below your desired level. These types of orders are very important when you don't have enough time to look at the charge throughout the day and want to open a date at the desired level through your analysis. For example, let us say you video analysis on USD JPY and found out that 1041541 is a goodbye for you. So if you don't have enough time to what the place till it moves to your desired level so that you can enter a trader. You can directly enter a by limit at 1.54104 on your MD5 trading platform. And the train will automatically open when the price reaches your desired level. Now, let's see how to use OD plays a buy and sell limit on the M25 trading platform to open a limit on the MD5 trading platform, right-click on the chart. Now go to the grading option and click on the new order. Now choose the currency pair on which you want to place a limit order. In the type of order, choose pending order. In the type of limit order, choose the limit if you want to place a limit, or choose the cell limit if you want to place a sell limit, enter the lot size for you, send the stop loss and take profit. Now when excitation time choose a time period for which you want to keep this order valid. Gtc means good til canceled. That is, the order will stay intact until you don't can't set it. If you choose coolly, this order will get cancelled. If the price doesn't come to your level on that particular day. If you choose specified, you can enter the date and time in this space. If I dig, you can enter the date. After you are done with everything, click on the price button and your limit order will be pleased. The order will be visible. And you can easily modify or delete the order by double-clicking on it. Now for those who use M25 point smartphones took place, buy or sell limit. Go to the grade auction. Now, select the Currency pay. You want to open a limit order on, click on market execution. Choose the order type, Enter the lot size, the price at which you want to place a limit. Set the Kay Crawford and stop-loss excitation time. If you want to and click on please auction, your order will be pleased. So this is how you place a buy and sell limit on the MD5 trading platform. Thank you. 16. 16 Buy Stop Sell Stop : Hello and welcome to this video. In this video, I will tell you what is buy stock and sell stop and how to use it on MD5 trading platform by stop and sell stop. Other types of limit orders that allow you to place a trade at the desired place that would open when the price reaches your level in the future. Now, a buy stop order is an instruction to the broker to buy a currency pair at the desired or specified level. And a sell stop order is an instruction to the broker to sell a currency pair at the desired or specified level. Now many of you must be thinking by limit and sell limit is also used for the same thing. Then what is the difference between the boot? Well, in the limit and sell limit, the play should be above the specified price to enter a VI limit and vice versa. But to enter a buy stop, the current price should be below the specified level. And to enter a cell stop, the current price should be above the specified left by stopped and said Stop are mostly used by breakout traders. That has the traders who get into a trade when an important level is breached by the place. Let us try to understand this. Let us say you are a breakout fader. And on euro-USD, you found out that the price does forming a British flag. But for you to enter the grade, you will first have to wait for the price to break out of the Flex. But many times you may be busy with something else and may not have enough time to keep checking for the breakout to happen. So in such case, you can use a stop order for that. You first have to identify the level which will confirm the breakout. Let us say in this example, if the price goes below 1.16789 level, you can open a sell stop order at 1.16789 level. And when the price reaches your level, that created will be automatically opened. Now, let's see how to set a cell stopped or buy stop order to place a buy stop order on the MD5 grading platform. Right-click on the chart, go to drilling and choose new order. Now, choose a currency pair on which you want to place a stop order. In the type of order, choose the pending order, in the type of limit order, choose the buy stock if you want to place a buy stop, or choose the cell stop. If you want to place a sell stop, anger, the Lord says, or your enterprises here, let say you want to open a sell stop on 1.16789, said the stop loss and take profit. Now in the excitation dying, choose the time period for which you want to keep this order valid. Yeah, GTC means good til canceled. That is, the order will stay intact until you don't cancel it. If you choose to, this order will get cancel as the price doesn't come to your desired level on that particular day. If you choose specified, you can enter the date and time. And in the specified day, you can enter the date. After you are done with everything, click on the plus button and your order will be placed. The order will be visible earlier. And you can easily modify or delete the order by double-clicking on it. Now for those who use md5 on smartphones to please buy or sell stock, Google decreed option. Now, select the currency pair you want to open a buy, sell, stop order on, click on market execution. Choose the order type, Enter the lot size, the price at which you want to place a buy stock or sell stock. Said, but take profit and stop-loss excitation type. If you want to and click on place, your order will be pleased. I hope you understood everything correctly. If you have any doubts, feel free to ask me in the discussion. Thank you. 17. 17 Buy stop limit : Hello and welcome to this video. In this video I will tell you what is the best hop limit and sell stop limit and how to use it on the MD5 trading platform. In the previous video, we learned what as by limit and sell, limit and buy stock and sell stock. Now the bystander plummet and said Stop limit is the combination of the filament and by stop and celebrate and sell stock respectively. By stoke limit combines the first two types being a stop order for placing a by limit as soon as the future asked place. Just the stock level indicated in the order. That is the price field or by limit will be pleased at the level of specified in that stop limit price feed stock level is set above the current ask place while the stomp limit price this set below the stock level. Now let us try to understand this. Let us say you are a breakout traders and enter at the retest of a value area. For those who don't know what a breakout and retest breakout happens when the price reaches and important area. And retest is when the price moves back to desert area, which the place breached earlier, we need to reject it again. For example, let us assume you found an MD on euro-USD. You saw that the price is near the support area. And as you are a breakout trader, you will read for the price to break the support and then end up at the retest of the area for that, you can use a sell stop order. For that you will need to places first price will tell you that confirm breakout of the support level and the other place will tell you that confirmed a retest of the level. So in this case, the price which confirms the breakout will be 1.16789 and the price which confirms the retest will be 1.7 to 0.08. So as you want to enter at the retest, the level, you will have to enter the Breakout Prize in the section and the retest price and the strop limit price section while placing a sell stop limit order. Let us see how to do that on the MD5 trading platform. For that, right click on the chart, go to the grading option, and click on the new order. Now here, choose the currency pair. As we're using euro-USD, we will choose euro-USD. Now, an order date to spending order. We want to open a sell stop limit. Choose the cell stop limit under the lot size you're now in the price section, we will end up the breakout price, which is 1.16789. And stop limited section, we will enter the retest price, which is 1.17008. Now enter the stop loss and take profit, said the excitation time and click on the place auction, your self-talk limit will be fleeced. Now in this order, when the price breaks out of the support zone and triggers this price, a sell limit will be automatically entered at the retest level which you chose. The grade will only get executed after the price reaches that level. So this is what a stop limit orders. The bus stop limit is just the opposite of the cell stop limit. And you have to go through the same steps to place a buy soap limit. Now this order can be very beneficial in trading if you want to limit or remove the emotions out of your reading. But that this advantage is many times the price does not retest your desired level, and hence, your train may not be executed. I hope you understood everything correctly. F naught, then feel free to ask me. Thank you. 18. 19 Types of Objects & rectangle: Objects and different technical tools let you perform a detailed analysis of the chart and can make a huge improvement in your trading if you knew how to use it with precision. There are various tools and objects that traders use for technical analysis. And the metadata platform provides you with a total number of 44 inbuilt objects for improving your technical analysis. First, let us see where can refine those objects in the metadata platform. And then we will learn about the most used technical objects and we'll also tell you how to use them precisely. So as I told you, the metadata for a provides you, but 44 objects for technical analysis, those 44 objects can be found in the Insert section. So to add an object to your chart, you just have to go to the insert section. Now, good to objects. The top five objects are which I use the most and are also added to my toolbar list. Now, there are different types of objects available over your, like, different types of lines, channels, Fibonacci, two, etcetera. Out of all the tools, you are only going to use a handful of them while doing your analysis. It is better if you add those. We are toolbar so that you can directly access them from your itself without any hassle. For those who don't know how to add those objects to the toolbar, just right-click or you're now go to customize. Here you will find all the objects this platform provides you with it. And you can add the object to your toolbar from here itself. Just make sure you only keep the necessary objects on the toolbar. Now, let's learn how to use the different tools in the meta trader platform. The first tool, which we are going to talk about is the rectangle. The rectangle is used by a lot of professional traders and it mostly serves two main purposes, highlighting important areas and drawing support and resistance egos, that rectangle is used to highlight an E If there's something important there and you want to remember it for a period of time. For that, all you have to do is select a rectangle and draw it on an area that you think is important. And you want to highlight. Now, every time you look at the chart and zoom out, this area will be highlighted and you will know that this area is important or you need to remember something related to this area. Now the next thing is drawing support and resistance. Many of you may wonder, why do we need rectangle to draw support and resistance? Don't really use lines for it. Yes, some breeders use lines to draw support and resistance. But I and my fellow professional traders prefer using a rectangle to draw support and resistance as it is more helpful when we draw it as a Zoon. So put draw support and resistance using a rectangle. You first have to identify the swing high and swing laws. Now tried to cover as much swings as possible in a rectangle like this. We have covered all the swing laws in a rectangle. And so this is a support zone for us. Now, if you want to edit the color or settings of the rectangle, just select the rectangle, right-click and go to Properties. Now here in the name section, you can add the name, like we have drawn major support. So I will leave it major support here you can add a description. From here, you can change the color of the rectangle and also the border or the thickness of the rectangle. Now, usually your rectangle will look like this. It will be transparent and it will not be filled with any color. Just go to parameters and select Filled, and click on OK. Now your rectangle will get colored. Now if you want to delete the object, right-click on the rectangle and click on delete. The rectangle will be deleted. So this is how we use rectangles on the matter trader platform. Now, in the next video, I will tell you how to use a horizontal line like a professional trader. So see you in the next video. 19. 20 Horizontal Lines: Like some traders, use rectangles to draw support and resistance. Managers use horizontal lines to draw support and resistance levels. And in this video, I will tell you how to use a horizontal line. Just like we mark swing highs or swing loads while using the Rectangle, we have to try to cover as much as swing loads or highest as possible using a horizontal line. For that, select Horizontal line. Now, you can select it from the toolbar itself. If you have added a horizontal line to your toolbar, for those who haven't added it to your toolbar, go to the Insert option. Now select objects and now select Horizontal line. Now draw the line in such a way that you are connecting as many swing laws and swing highest as possible. Just like this. Now, if you are done drawing the support line, now if you want to edit the color or the settings of the line, just right-click and go to Properties. Now you're in the name section. You can add the name like we have drawn, the major support link. So I will name it major or weekly support. So whenever you keep your cursor on the line, it will show you that this is the major support area or major support length. Now here you can add a description. Here you can select the thickness of the line as far you need. Just try not to use too much thickness as it won't look that good. Now you can also choose the type of line OUT. There are various available options like dotted line, dashed lines, etc. Now do believe the line you have to follow the same steps which we followed for deleting the rectangle. Just select the line, right-click and deleted. So this is how you use a horizontal line. See you in the next video. 20. 21 Object trendline: There is another very important object which almost every leader uses. This object is the timeline. In forex data, different types of the market, like trending market and ranging market. And then there are two types of trending market, obtaining market and the downgrading market. The trend line is used to find the direction of the trend and also useful for trailing trends. So let us learn how to use the trend lines in the metadata platform. So this is the trend line tune. To draw a trend line, just select the drain lain. Now, select the point from where you want to start drawing the render. Now connect all the highest or lowest depending upon the type of lending market you are drawing. And drag it to the end point, but connecting all the highest or lose. So your trend line is ready. Now to edit the settings of the trend line. Just select the trend length, right-click and go to the properties. Now you're, you can add the names of the trendline description and select the color and thickness as per your needs. Now good believed the trend line follow the same steps which we followed for drawing a horizontal line. Now, train laser also used two different patterns. Vary the place creates like many plays action Plato's use patterns like triangles or flags to enter a trade. And trend lines can be very useful for drawing a pattern. So that's all for this video. See you in the next one. 21. 22 Fibonacci Retracement: Whenever the market is trending, along with the trend line, there is another tool that helps you treat tends precisely. This tool is called the Fibonacci replacement. Now for those who don't know what is Fibonacci the placement, Fibonacci displacement levels are a series of horizontal lines that indicate the possible support and resistance levels, where price could potentially reverse the direction. Whenever the market moves in any one direction, it doesn't move in a straight single light. It creates a series of higher highs and higher lows or lower lows and low highs. It is like it moves up, then collects a little, and then again moves up. So this Fibonacci tool helps you find when the correction will end and let you position yourself and help you write the trend. Now, let us see how to use the Fibonacci replacement and how to draw it correctly. To draw a Fibonacci level, you have to connect the swing law to the swing hat or swing high to the swing load depending upon the direction of the market. Like you and this operand, we will first connect the swing law to the swing high like this. Always remember when we drove Fibonacci displacement, we always go from one to 0 and the price gives us different replacement levels, like in the chart, the price they traced to the level 50 before resuming that red. Now again, when the price creates a new high, you can ship this point to the new hire. And again, the price retreats to the level 38.2 and then moved up again. So this is how you use the Fibonacci retrace my. Now, if you want to edit the Fibonacci, select the tool. Now right-click and go to properties. Now in the comments section, you can name and change the color and the level section, you can change the color of the levels as black as clearly visible. I have chosen black. Now, you can also choose the Fibonacci levels and keep the only levels that you use, like the 38.25061.8 other most US levels. So I usually prefer using it and keeping only these three levels and removing all the clutter from the chart. Here, you can also choose the type of lions and thickness for the levels. And after you are done editing the settings, just click on OK and all your settings will be saved. Now, if you want to delete the tool, just select, right-click and click on delete, the tool will be deleted. I hope you understood everything. If not, then feel free to ask me in the discussion. See you in the next video. 22. 23 Duplicating object: Hello and welcome to this video. In this video I will tell you how to duplicate an object in the metadata platform. Duplicating an object can be very helpful while drawing multiple trend lines or plates, action patterns. And that is a very easy way to duplicate objects in the metadata platform. To duplicate an object, just press and hold the Control button and then drag the object which you wanted to duplicate. Like here, I have plane line on my chart. And what I want to do is draw a chant. So just duplicate this trend line and move it above. And now we have the channel ready. The duplicating option can be very helpful if you want to draw certain minor support resistance areas in between major areas like here, if I wish to draw a resistance area, I don't have to every time go to the toolbar and select the Rectangle tool. Instead, I can just select the Rectangle, press and hold the Control button and then drag it and place wherever I want. So this is how you duplicate objects in the metadata platform. Thank you. 23. 24 What are indicators?: Indicators are the most discussed topic in forex trading, and many of you may be aware of them. Also, many traders believe that adding indicators to your chart for analysis can provide you with an winning edge. Let us first understand what are indicators and then I will tell you how to add it to your chart. So what does an indicator? And indicator is a tool use in technical analysis that helps you to forecast price changes in the currency market and provides us with the signals. So these indicators are developed with mathematical calculations based on the price, volume or the other factors which are based on the purpose with the indicator is going to serve. Now, there are thousands of indicators in the Forex market. Some of them are provided by the trading platform and some even custom made. But based on the purpose of the indicator, like which purpose they are going to solve. There are four major types of indicators. Plant indicator, volume indicator, volatility indicator, and the momentum indicator. Now, let us try to understand each type correctly. The first indicator is the trend indicator. So these are the indicators that tell you that the trend of the market, that is the direction in which the market is moving. So basically, in the Forex market, there are different types of trends, up trend and downtown. So these indicators, that is the trend indicator, is used to find out the direction of the market. That is, if the market is moving up or if the market is moving in downward direction. And some examples of trend indicators are parabolic, SAR, and moving average. The second type of indicators are the momentum indicators. Momentum indicators are also coined an oscillating indicator or oscillators. And these indicators are most useful when finding the momentum change or the reverse sells in the market. That is, finding if the market is orbit or the market is oversold. These indicators mostly have two levels, namely all bought and oversold levels and applies oscillates between these two levels. And the momentum indicators are mostly used to find the reversals in the market. Some examples of momentum indicator are the relative strength index, stochastic oscillator, and CCI. The number third is volume indicator. These type of indicators are mostly used to find out the volume in the market. That is, if the volume behind a particular movement is high or the volume behind a particular movement is low. The volume indicator shoes, the volume of the trades behind a particular place Moon, and is very helpful to sport reverses. Some of the examples of volume indicator, our check-in indicator, money flow, index, and ease of movement. The four type of indicator as the volatility indicator. Volatility indicator are used to find the volatility in the market. By the way, if you don't know about the volatility, volatility is nothing but the rate at which the price of an asset, it's increasing or decreasing. If the price increases or decreases at a very high rate, then that means that the volatility in the market is high and the market is said to be highly volatile. Like doing news releases, we see that the price increase or decrease with very high movements or very quickly, hence, high volatility. Now, if the price increases or decreases very slowly, then that means that the volatility in the market is less and the market is said to be less volatile. So these were the four types of indicators. Now, in the next video, I will tell you how to add these indicators to your chart. So see you in the next video. 24. 25 Add indicators: In the previous video, we learned what are indicators and its different types. Now, let us see how to add an indicator to your chart in the metadata platform. Adding indicators to the chart is very simple. For that, just go to insert now select indicators. Here you will find the different types of indicators we learned in the previous video. Like the trend indicator, the oscillator, et cetera. Metadata also provides you with different custom indicators and you can find those or you're in this section. So from your UCA, add whichever indicator you want to be added to your child. Like I want to add RSI to my job. So I will go to the momentum oscillator or oscillator section, and click on the relative strength index, which is the RSI. Now a box will pop up, Yeah, you can adjust the settings of the indicator as per your needs and also change the color of the indicator as per your need. After you are done with the settings, click on OK. And the indicator will be added to the chart. And the indicator will be visible over you're in this area. Now, if you want to edit or delete the indicator, right-click anywhere on the chart. And now go to indicate a list. You are, you will find all the indicators which are either on your chart. Now, to edit the indicator, select the indicator and go to Properties. You can edit the settings of the indicator as per your needs. Now, if you want to delete the indicator, select the indicator which you want to delete, and then click on delete. The indicator will be deleted. So this is how you add an indicator or modify an indicator in the meta trader platform. See you in the next week. 25. 26 Set chart like a pro : A few have been into forex trading for a couple of months now. You must have already seen traders sharing that reading setups, but lots of screens for crazy indicators and stuff. I have seen traders sitting in front of five to ten different screens using a hell lot of indicators. And I can tell you with surety that most of you must have fallen for them. And why not? It looks cool and it has become a trend. And people seem to believe that the professional Taylor's use so many screens and so many indicators. But honestly, that's just the opposite of what I and my fellow professional traders to reduce, to keep our trading setup as clean as possible and try to get rid of all the clutter lying around. The reason for this, thus, our human mind gets confused when we try to look for to many different texts. Our mind is not made for multitasking. According to a study, it was found that when a person's mind focuses on one thing at a time, he or she is able to do their job easily and efficiently. The fewer things you keep your focus on, the better you will do it. And this is true with anything you do. Let it be workout, eating, or reading, and especially in trading where a lot of emotions are involved in trading. Ve tried to keep a check on our emotions and tried to control them as much as force it. This is the reason I prefer a clean interface and I generally lead with a single screen. Look, I am not saying that you should not use 2.2.3 screens or too many indicators. If you feel there is a need for it, then you can use it. Even I have to do three scripts, but only use it when there is actually a need for that. But 99% of the time I created using a single screen and a single or two indicators. Now, setting up your charts and keeping the interface clean is also an important part when you first install meta trader, it comes with inbuilt settings and lots of tools that you don't even need. So let us go to the matter grader platform and I will tell you how I organize my metadata platform. The first thing to look after as the chart itself. The type of chart should be asked for your own preference. Like, I prefer using candlestick charts. So I have chosen a candlestick layout. Now, your chart should look clean and clear so that you can easily read it without any distraction. For that, right-click on the chart. Go to properties, go to shore option. Now here, there are various auctions of the different things which you would like to have in your chart. Like if you click on the short deco, it will show you the name of the currency pair. If you select all HPLC, it will show you the opening price, the high The blue and the closing price of the candle. So what LC is a short form for open, high, low, and close the bid price and asked Christ will show you the bid price and the asking price offered by the glucose. And it will be represented by a line. And it will be helpful for you to find out the spreads. Now, I don't need the grid and the volume lines on my jacket, so I won't select it. Short raid levels will show you the level at which your trade is open. And short read history will show you the history of your previous streets. Now, in the colored section, I liked the classic black and white colors for my candle sticks as it looks clean. So I keep the borders of the candles to black and the bull candle to white, and the backend URL to black, keep the rest of the settings to see. And we are done with setting up our chart. And you can see how clean and beautiful that chart looks. The next thing is setting up the toolbar. Nobody likes it when they have to keep looking for a tool, but are not able to find it because there are too many of them that this happens when we use the default meta trade-off aesthetics. It comes with a lot of tools and the majority of them are just useless. So always customize the toolbar and only keep the tools that you will need during trading to customize the first panel, right-click and go to customize. Now, you're only keep the tools that you need and remove everything else. The tools which are used are a new chart. To open a new chart profiles as I have different profiles for each trading style full-screen option to full screen your chart when you need it. Algo trading as, as sometimes use it New Order to open a new trade. Now, in the types of chart, you can either keep all the tree or only one. It depends upon you. I sometimes shift to line chart for better understanding. I kept the line chart and the candlestick option. Now moving forward you will need to zoom in and zoom out option and tile windows option, the orcas role charged shift. You will also need the orchestra hall charge shift, the market watch list, and the templates if you use different strategies now to customize the objects section, right-click and go to customize as I use limited tools like trend line rectangles, Fibonacci, et cetera. I have only kept those to the front. And if you ever need any other object, I can go to the Insert option and use it from there. The next thing is to edit the timeframe section and only keep the timeframe you will lead. The next important thing is setting up profiles and templates. Many of you maybe into two different types of grading steps, like day trading, swing trading, or swing trading and scalping at sector. Also, many of you may be using different kinds of strategies, which may include different tools and different indicators. When you use a single profile for this, your chart gets messy and it has a lot of other drawbacks too. Like I personally maintain a trading journal. And when I'm grading, I draw certain setups and I don't delete it. Vendor grade is o because I have a habit of going through all the treats I took in a week. And so when I keep the different profiles for swing grading and different profile for day trading, I'm evil to learn from a previously by keeping the setups as it is and the chart also looks clean. So metadata has this cool option in which you can set different profiles for each of the trading styles. And you can also shift between different profiles whenever you want. I use a different strategy for day trading and different strategy for scalping. So I have two different templates for each one. Like you can see when I select daydreaming profile, my chart layout exchange, and it has all the previous setups. I have dropped. And when I shift to scalping profile, I have a different chart layout for that and everything is set up perfectly and it looks clean. Now, I have already told you how to set up different profiles and different templates in the previous videos. So you can use that and organize this platform. As for your needs, just make sure you keep your chart as clean as possible. Thank you.