MT4 corner for starters & others

[Pat494]

I used to use Metastock but since they have been trying to tie in users with expensive data feeds etc. I have decided to turn to another and probably better trading platform, namely MT4.
As an almost programming starter I would like to share my trials and tribulations as it is quite a daunting task and lots to learn. Hopefully others will see the need to get to all those lovely indicators on MT4 for free and make pots of dosh.

First task find a broker offering MT4 that you fancy. I have been around the block of providers. They either need too big a deposit or the platform freezes ( probably my fault ) etc. I have settled on AAAFX as it needs only a small deposit of $300 and looks good for eventual zulu trades.

Any help along this stony path will be much appreciated !! But I shall stumble along alone if necessary ( will be slow, I warn )

 

[the hare]

Check out this 18 part tutorial on MQL programming by "coders guru" it's probably as good as anything to get you started

MQL Tutorial by Coders` guru - MQL4 forum

I think links are dead, but there's pointers to other places in that thread where the course is available, for example

http://www.forex-tsd.com/metatrader-4-mql-4-development-course/4789-i-love-codersguru.html

 

[wackypete2]

I don't know of this is the same book but it's what I use for reference:
MQL4 Tutorial

Peter

 

[Pat494]

Check out this 18 part tutorial on MQL programming by "coders guru" it's probably as good as anything to get you started

MQL Tutorial by Coders` guru - MQL4 forum

I think links are dead, but there's pointers to other places in that thread where the course is available, for example

I Love Codersguru

A pity the links to the tutorial are dead, it was just what I needed. Are you an MT4 man Hare ?

 

[Pat494]

I don't know of this is the same book but it's what I use for reference:
MQL4 Tutorial

Peter

Thanks Pete. Yes I am trying to gain a bit of knowledge from here too.

 

[Pat494]

The first useful and not too hard a thing to do is to make a template. This one can put on any chart which is so very useful.
1.You get your chart ready as you like it by right clicking it and then clicking properties. Fill in the properties e.g. the background colours etc.
2. Click on indicators on the toolbar for a drop down menu and add any indicators you feel like.
3. Click on the templates toolbar. Click save template. Write in the name of your template and save it.

 

[mike.]

interested in learning MT4 myself Pat, Good idea for a beginner thread.

How do other's trade stock's indices and forex ? Do you need multiple brokers or is it possible to trade all with one broker like SB ?

 

[Pat494]

interested in learning MT4 myself Pat, Good idea for a beginner thread.

How do other's trade stock's indices and forex ? Do you need multiple brokers or is it possible to trade all with one broker like SB ?

Nice to see someone else is interested in learning MT4.
The US brokers except FXCM seem to do only forex, although there may be a few exceptions. The trouble with that one is the $3,000 deposit needed. So that's why I am using AAAFX ( $500 deposit ). Also it has the lowest commission rates and is hooked into zulu.

There are lots of free indicators in MT4 and also expert systems. I hope to learn a little programming as well.

 

[Pat494]

Here is a snip picture of my template. Perhaps you could show yours for comparison ?

 

[Jason Rogers]

Nice to see someone else is interested in learning MT4.
The US brokers except FXCM seem to do only forex, although there may be a few exceptions. The trouble with that one is the $3,000 deposit needed.

Hi Pat,

The minimum to open an FXCM account is now $50, and that includes the option to use the MT4 platform. Your forum profile mentions that you live in the UK, so you also have the option of opening a spread betting account (which offers special tax-free status for UK residents) that can be opened with a minimum deposit of £50. It's important to note that when trading forex or CFDs, your capital is at risk.

Also, if you haven't already checked it out, the FXCMapps.com website has many Expert Advisors, Indicators and Scripts for the MT4 platform.

Jason

 

[Pat494]

Hi Pat,

The minimum to open an FXCM account is now $50, and that includes the option to use the MT4 platform. Your forum profile mentions that you live in the UK, so you also have the option of opening a spread betting account (which offers special tax-free status for UK residents) that can be opened with a minimum deposit of £50. It's important to note that when trading forex or CFDs, your capital is at risk.

Also, if you haven't already checked it out, the FXCMapps.com website has many Expert Advisors, Indicators and Scripts for the MT4 platform.

Jason

Sensible move. I went over to AAFX for just that reason. But as they are based in Cyprus I am tempted back. Thanks for the info though.

 

[tar]

Sensible move. I went over to AAFX for just that reason. But as they are based in Cyprus I am tempted back. Thanks for the info though.

AAAFX is in Greece not Cyprus

 

[Pat494]

Hi Pat,

The minimum to open an FXCM account is now $50, and that includes the option to use the MT4 platform. Your forum profile mentions that you live in the UK, so you also have the option of opening a spread betting account (which offers special tax-free status for UK residents) that can be opened with a minimum deposit of £50. It's important to note that when trading forex or CFDs, your capital is at risk.

Also, if you haven't already checked it out, the FXCMapps.com website has many Expert Advisors, Indicators and Scripts for the MT4 platform.

Jason

Except one needs a $5,000+ deposit in FXCM ?

 

[Jason Rogers]

Except one needs a $5,000+ deposit in FXCM ?

Hi Pat,

That $5000 deposit requirement is to get $300 worth of programs free from FXCMapps.com. Also, having a $5000 balance would get you free access to a Virtual Private Server (VPS) if you want one to run MT4 for 24 hours a day even when your computer is off. For just the MT4 account without free apps or VPS service, the minimum is now $50.

Jason

 

[Outside_The_Box]

I have been using MT4 for a few years and I really like it. If there are any custom indicators you're wanting, let me know. I have thousands, multi timeframe indi's, a "swiss army" moving average, pivots, a real MACD indicator , you name it. I'll even customize them for you if you want, provided it's not above my skill level. I'm still learning MQL4 as well, but have made some decent progress.

 

[Pat494]

I have been using MT4 for a few years and I really like it. If there are any custom indicators you're wanting, let me know. I have thousands, multi timeframe indi's, a "swiss army" moving average, pivots, a real MACD indicator , you name it. I'll even customize them for you if you want, provided it's not above my skill level. I'm still learning MQL4 as well, but have made some decent progress.

That's great news. I am just getting used to downloading indicators etc. Haven't found one yet that's better than moving averages though ?
Tell me there are some of superior value and return ????????????????

 

[Pat494]

Here is a free tutorial I have found on the net. It shows how to use MT4 from the basics.

MT4 Education - Introduction to Metatrader 4

 

[Outside_The_Box]

That's great news. I am just getting used to downloading indicators etc. Haven't found one yet that's better than moving averages though ?
Tell me there are some of superior value and return ????????????????

Here's one that was just released. These are all the different MA's this one indicator can plot for you. Pretty cool huh? I'm a fan of the regular old EMA and the T3 MA.

MA_Method= 0: SMA - Simple Moving Average
MA_Method= 1: EMA - Exponential Moving Average
MA_Method= 2: Wilder - Wilder Exponential Moving Average
MA_Method= 3: LWMA - Linear Weighted Moving Average
MA_Method= 4: SineWMA - Sine Weighted Moving Average
MA_Method= 5: TriMA - Triangular Moving Average
MA_Method= 6: LSMA - Least Square Moving Average (or EPMA, Linear
Regression Line)
MA_Method= 7: SMMA - Smoothed Moving Average
MA_Method= 8: HMA - Hull Moving Average by Alan Hull
MA_Method= 9: ZeroLagEMA - Zero-Lag Exponential Moving Average
MA_Method=10: DEMA - Double Exponential Moving Average by Patrick Mulloy
MA_Method=11: T3_basic - T3 by T.Tillson (original version)
MA_Method=12: ITrend - Instantaneous Trendline by J.Ehlers
MA_Method=13: Median - Moving Median
MA_Method=14: GeoMean - Geometric Mean
MA_Method=15: REMA - Regularized EMA by Chris Satchwell
MA_Method=16: ILRS - Integral of Linear Regression Slope
MA_Method=17: IE/2 - Combination of LSMA and ILRS
MA_Method=18: TriMAgen - Triangular Moving Average generalized by J.Ehlers
MA_Method=19: VWMA - Volume Weighted Moving Average
MA_Method=20: JSmooth - Smoothing by Mark Jurik
MA_Method=21: SMA_eq - Simplified SMA
MA_Method=22: ALMA - Arnaud Legoux Moving Average
MA_Method=23: TEMA - Triple Exponential Moving Average by Patrick Mulloy
MA_Method=24: T3 - T3 by T.Tillson (correct version)
MA_Method=25: Laguerre - Laguerre filter by J.Ehlers
MA_Method=26: MD - McGinley Dynamic

You can download it here. AllAverages - my collection of Moving Averages @ Forex Factory

 

[Pat494]

Thanks OTB I will have a closer look.

 

[Dentalfloss]

i would like to export 1 /5/15 min data to a text file.without hitting cntl "S"
ie a streamed feed
tried a few ea"s ,none work